by David Erfle Friday July 28, 2017
On August 16, 1896, George Washington Carmack and two of his Indian friends found a large gold nugget while fishing in Rabbit Creek (soon to be named Bonanza Creek), a tributary of Canada’s Klondike River in the Yukon. The discovery quickly began one of the most frenzied and fabled gold rushes in history. Since the initial discovery, over 20 million ounces of placer gold has been recovered at surface, with the hard rock source of the gold yet to be found.
Aptly named Klondike Gold Corp (KG-V), a company that today holds 2,780 contiguous claims totaling 524 sq. in the heart of the 1898 Klondike Gold Rush region near Dawson City, has been searching for this source for the past four decades. The firm was incorporated as Arbor Resources Inc. on August 23, 1978. On January 23, 1996, Arbor completed a 10 for 1 share rollback and changed its name to Klondike Gold Corporation. During this time, the company was aggressively promoted and twice had a market cap of over C$100 million, while management squandered many millions of investor dollars on stock promotion without coming up with any substantial exploration results. read more at Junior Mining Junky