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Klondex lifts reserves 19%

3rd December 2015

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – TSX- and NYSE-listed Klondex Mines has lifted its total mineral reserves by about 19% this year to 444 488 gold-equivalent ounces.

The mineral reserve of its Fire Creek project, in Nevada, had increased by about 33% to 321 324 gold-equivalent ounces.

Mineral reserves at the Midas project, also in Nevada, however, decreased by 7% owing to lower grades, which was partially offset by higher tons.

"We continue to demonstrate our ability to unlock additional value imbedded in our assets. With only six months of drill results at Fire Creek and nine months of drill results at Midas, we have increased the company's mineral reserves by 19%.

“Fire Creek continues to outperform our expectations as we not only increased total proven and probable gold-equivalent ounces, but the grade improved as well. And having tested only 7% of our land position, I expect that Fire Creek will continue to grow,” Klondex exploration VP Brian Morris asserted.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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