First Berlin – Klondike Gold Corp. Research Update (08/08/2019)

First Berlin Equity Research has published a research update on Klondike Gold Corp. (ISIN: CA4989033010). Analyst Ellis Acklin reiterated his BUY rating and increased the price target from CAD 0.70 to CAD 0.80.

Klondike published initial assays from its current drilling season. The report encompasses nine drill holes testing the Nugget Zone along the Nugget Fault. Drill testing along 200 metres at Nugget Zone intersected interesting gold mineralization and unearthed a new parallel zone of high-grade gold. The results included the best ?discovery hole' by far made anywhere in the world this season (1,009 g/t Au over 1 metre), which also ranks near the top of all-time ?best discovery holes.' We expect the results combined with the surging gold price to boost investor sentiment and have increased our price per ounce target from C$100 to C$110 on the gold price rally. Our price target thus moves to C$0.80 (old: C$0.70). We maintain our Buy rating.