Tuesday, 16 July 2013

Klondex Mines adds Primero Mining COO Renaud Adams to board of directors

Nevada-focused Klondex Mines (TSE:KDX) (OTCQX: KLNDF) has appointed Primero Mining executive Renaud Adams to the company's board of directors as it gears up for initial production at its Fire Creek gold project later this year. 
The company says Adams, who brings more than 15 years of precious metals mining experience, is currently chief operating officer of Primero Mining Corp (TSE:P) (NYSE:PPP), where he is responsbile for the operations and organic growth of the miner, in addition to Primero's operations in Mexico. 
Previously, he held positions with major operating mines forIamgold (TSE:IMG), where he oversaw three operations in Suriname and Quebec, and Breakwater Resources, among others. 
Adams brings to Klondex "hands-on operations experience with administration, operations, exploration metallurgy and processing, as well as legal, social and environmental aspects of the business," according to the company's statement released Tuesday.
"The Board of Directors, management team and I welcome the addition of Renaud Adams who brings a wealth of operating experience, including his years at Iamgold where I was able to work directly with him as part of the senior management team," said Klondex chairman, Larry Phillips, in the release. 
"We believe his extensive experience in the mining industry will bring a valuable dimension to the Board as we rapidly develop Fire Creek into a successful high grade mine, and more importantly, seek to accelerate Klondex Mines' development to become a major player in the mining space."
As recently as last week, the company unveiled further results from sampling at its Fire Creek project in Nevada, showing grade averages of over 132 grams per tonne (g/t) gold at the Joyce vein on the site. The company, which is gearing up for initial production at the project later this year, told investors that the weighted average grade of samples from the structure is 132.8 g/t gold along 144.2 metres of strike, with an average width of 0.6 metres. The result is for 94 face samples ranging from 1.4 g/t to a whopping 30,228.7 g/t gold. 
The company said that it has now completed over 144 metres of exploration development on the Joyce structure, with previous drilling by Klondex showing that mineralization extends beyond the current boundaries - both along strike and at depth. 
Last month, the gold development company returned channel sampling results as high as 22,396 grams per tonne (g/t) of gold 74 feet north of the 5400 cross cut from its Vonnie vein. The high grade mineralization was found during a program that was designed to follow up on a surface drill intercept that returned 2,910 g/t gold over 1.5 metres last September. 
Klondex is working hard at having the next new producing asset in Nevada, with the company having the advantage of grade on its side, according to CEO Paul Huet, who made the assurance to investors at the company's annual general meeting in June.
The Fire Creek project is situated at the intersection of the Battle Mountain trend and Northern Nevada Rift, which also hosts the Midas and Hollister narrow-vein epithermal gold deposits. The company is planning to start initial production from bulk sampling later this year, with an updated resource from drilling due this summer, to be followed by a new and comprehensive mine plan.

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