The Klondike was the greatest gold rush the world has seen. In four waves of discovery, between 1896 and today, the site has yielded 20.000.000 ounces of placer gold. but the actual source of all that surface gold has remained obscured - UNTIL NOW !
Question :
Why after 107 years, has the source of the surface gold not been discovered
?
Answer :
The property has been privately owned or closely held since 1897, limiting
the search. In 1986, Richard Hughes, with his proven track record as a
Canadian mine finder, was able to evaluate the property and has determined
the source is in the 3 shear zones that intersect the mountain.
The underground source of the surface gold has the potential to rival or exceed historical production. In his 35 years of exploration Richard Hughes has stated that the Lone Star claims in the Klondike is "one of the most exciting projects" he has ever worked on.
Klondike Star Mineral Corp. has a strategic alliance with Richard Hughes. They have the right to earn in a 55% interest in the Lone Star claims by funding $2,225,000 in exploration work through 2006.
Question :
If Richard Hughes is so
sure he has discovered the gold source, why would he agree to a
joint-venture with Klondike Star Mineral Corp. ?
Answer :
In 2001, when gold prices were at a 20 year low, Richard Hughes agreed to the joint-venture based upon the representation by Klondike Star management that it could provide the capital needed to fullfill the next phase of the exploration and development, allowing Hughes to focus on the property and locating the mine(s).
So the primary focus of Klondike Star Mineral corp. is the joint venture with Richard Hughes on the Lone Star claims. Work programs commenced in 2004 under the new joint venture. Strategically it is possible to make an early mining decision to put the original Lone Star Mine into production by 2007. This site represents less than 1% of the overall property and claims, but would be an excellent source of cash flow for continued exploration.
It is the opinion of Richard Hughes and management that the Lone Star claims have the potential for the discovery of numerous mines that could feed to a major milling operation.
For More Information visit our Web site at :
Richard Hughes examining the
Lone Star shear zone
Richard has spent the past 19
years doing exhaustive, highly detailed work including bulk sampling,
drilling and trenching. He has discovered the three shears contain gold in
very fine particles as well as nuggety gold. Based on his migratory
analysis, Richard believes that 75 percent of the gold in the shears is in
the form of gold nuggets the size of match heads up to 2,187 grams (70
ounces) all in one piece. To continue the exploration Richard has offered
Klondike Star Mineral Corporation the right to a 55% interest in the mineral
claims through an earn-in agreement with Richard and his team of
professionals leading the work programs.
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