KLONDEX MINES LTD. (TSE:KDX) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
On May 12, 2017, Klondex Mines Ltd. (the Company) filed a
technical report concerning its True North mine titled Technical
Report for the True North Mine, Bissett, Manitoba, Canada dated
May 12, 2017, with an effective date of March 31, 2017 (the
Technical Report) on SEDAR. The Technical Report is attached to
this Current Report on Form 8-K as Exhibit 99.1. The format and
content of the Technical Report were prepared in accordance with
Form 43-101F1 of National Instrument 43-101 Standards of
Disclosure for Mineral Projects of the Canadian Securities
Administrators (NI 43-101).
In accordance with General Instruction B.2 of Form 8-K, the
information set forth herein and in the Technical Report attached
hereto as Exhibit 99.1 shall not be deemed to be “filed” for
purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), nor shall such information be
deemed incorporated by reference in any filing under the
Securities Act of 1933, as amended, or the Exchange Act, except
as shall be expressly set forth by specific reference in such
filing.
As used in the Technical Report, the terms mineral reserve,
proven mineral reserve and probable mineral reserve are Canadian
mining terms as defined in accordance with NI 43-101 and the
Canadian Institute of Mining, Metallurgy and Petroleum (CIM)-CIM
Definition Standards on Mineral Resources and Mineral Reserves,
adopted by the CIM Council, as amended (CIM Definition
Standards). These definitions differ from the definitions in the
U.S. Securities and Exchange Commission’s (“SEC”) Industry
Guide 7 (SEC Industry Guide 7) under the Exchange Act. The
Technical Report was also prepared in accordance with Industry
Guide 7.
The terms mineral resource, measured mineral resource, indicated
mineral resource and inferred mineral resource are defined in,
and required to be disclosed by NI 43-101; however, these terms
are not defined terms under SEC Industry Guide 7 and are normally
not permitted to be used in reports and registration statements
filed with the SEC. Investors are cautioned not to assume that
all or any part of a mineral deposit in these categories will
ever be converted into reserves. Inferred mineral resources have
a great amount of uncertainty as to their existence, and great
uncertainty as to their economic and legal feasibility. It cannot
be assumed that all, or any part, of an inferred mineral resource
will ever be upgraded to a higher category. Under Canadian rules,
estimates of inferred mineral resources may not form the basis of
feasibility or pre-feasibility studies, except in rare cases.
Investors are cautioned not to assume that all or any part of an
inferred mineral resource exists or is economically or legally
mineable.
Disclosure of contained ounces in a resource is permitted
disclosure under Canadian regulations; however, the SEC normally
only permits issuers to report in place tonnage and grade without
reference to unit measures for mineralization that does not
constitute reserves by SEC standards. Accordingly, information
contained in the Technical Report contain descriptions of the
Companys mineral deposits that may not be comparable to similar
information made public by U.S. companies subject to the
reporting and disclosure requirements under the United States
federal securities laws and the rules and regulations thereunder.
The term mineralized material as used in the Technical Report,
although permissible under SEC Industry Guide 7, does not
indicate reserves by SEC Industry Guide 7 standards. The Company
cannot be certain that any part of the mineralized material will
ever be confirmed or converted into SEC Industry Guide 7
compliant reserves. Investors are cautioned not to assume that
all or any part of the mineralized material will ever be
confirmed or converted into reserves or that mineralized material
can be economically or legally extracted
Item 9.01 Financial Statements and Exhibits.
(d) List of Exhibits
| Exhibit | Description |
| 99.1 |
Technical Report for the True North Mine, Bissett, Manitoba, Canada, dated May 12, 2017. |
About KLONDEX MINES LTD. (TSE:KDX)
Klondex Mines Ltd is a Canada-based gold and silver mining company. The Company focuses on exploration, development and production of over two gold and silver projects in north central Nevada, being the Fire Creek mine located in Lander County, Nevada, the Midas mine and ore milling facility located in Nevada. Its segments include Fire Creek, Midas, True North, and Corporate and other. Its over 1,000 tons per day milling facility processes mineralized materials from the Midas Mine and the Fire Creek Mine. The Midas Mine is a gold-silver vein deposit located a mile from the town of Midas, Nevada. It also owns an underground mine project located in Manitoba, Canada, which includes the Rice Lake Mine and Mill complex, and early-stage exploration properties located in the State of Nevada, the United States, and Manitoba and Ontario, Canada. The Company’s milling and processing facilities are located at Midas process ore from both Midas and Fire Creek in the State of Nevada. KLONDEX MINES LTD. (TSE:KDX) Recent Trading Information
KLONDEX MINES LTD. (TSE:KDX) closed its last trading session down -0.10 at 4.56 with 957,784 shares trading hands.