Sprott Asset Management USA Inc.

SiteVisits

Klondex Mines – Fire Creek, Nevada, August 2013

Neil Adshead toured the surface and underground facilities at Klondex’s Fire Creek gold-silver project in Nevada’s Crescent Valley in early August 2013.  Klondex recently excavated underground access to the precious metal-bearing, low sulphidation, epithermal (relatively low temperature) quartz-carbonate vein swarm.  This enabled the direct assessment of vein geometry and underground mining conditions.  High-grade ore extracted by Klondex during this trial mining phase is being toll-treated at a third-party processing plant in Nevada.  Klondex has delineated an Indicated resource of 5.176 Mt at 9.9 g/t gold for 1.647 M oz gold using a 4 g/t gold cut-off grade.  Klondex’s current plan is to ramp up mining and produce ~100,000 oz gold annualized by 2016.  The visit coincided with the ‘Hot August Nights’ classic car and nostalgia event in the Reno area and it was the third consecutive site visit this summer to have a stuffed bear exhibit in the airport!  

 

 

 

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