Kirkland Lake Gold Ltd. (TSX:KL) (OTCQX:KLGDF) is pleased to report new exploration drill results from surface drilling east of the Taylor Mine in Northeast Ontario, and situated along the prolific Porcupine Destor Fault. Recent drilling occurred along the hanging wall of the PDF, where high-grade gold mineralization has been intersected up to 1.8 km east of the Shaft Deposit, and up dip of the 1004 Deposit mineralization. The new drill results involve a total of 15 holes or 12,155 m of surface drilling, bringing total surface drill holes reported to date in 2017 to 43 holes for 22,520 m. Recent underground drilling of 14 holes for 2,500 m brings total underground drilling for 2017 to 31 holes in 9100 m.
Tony Makuch, President and CEO of Kirkland Lake Gold stated: “The aim of the exploration work completed to date is two-fold; to discover and identify new high-grade targets for follow-up drilling and to define extensions and new mineralization at existing deposits to support increased mine life. After intersecting high-grade gold mineralization 1.8 km east of the Shaft Deposit earlier this year, we have concentrated our more recent drilling within that 1.8 km target area and today are reporting multiple high-grade intersections. These results continue to highlight the potential that exists to identify new deposits to the east of Taylor along the PDF. As well, based on recent drilling, we are increasingly confident that we can add to our mineral resource and reserves in and around the Shaft Deposit, as well as the East and West Porphyry deposits, all areas located near existing infrastructure. Currently, we have three surface drills and one underground drill in operation as we continue our work to demonstrate the expansion potential and high-grade nature of the Taylor Deposit.”
Surface Drilling Program
Surface drilling to date has focused primarily on targets east of the Shaft Deposit, where shallow dipping mineralized quartz veins situated in the hanging wall of the PDF have been intersected at multiple locations (See Figures 1 & 2). The new results being reported include a total 15 holes for 12,155 m of surface exploration. Results from this drilling support the Company’s view that mineralization at Taylor remains open at depth and along strike to the east and west.
Exploration drilling at the Taylor remains a priority for the Company with a total of three surface drills and one underground drill actively targeting mineralized extensions along strike and to depth below the 450 m level at this time.
Highlights of surface drilling results include:
Recent underground exploration results from the 70 and 90 m level highlight the potential to add resources between the East and West Porphyry deposits. (Refer to Figure 3).
Highlights of the results include:
The Taylor Mine is located along the PDF, a major structural feature, striking roughly east-west, dipping to the south between 40° to 60° south and globally associated with gold mineralization. Geologically, the Taylor property can be generalized from south to north as mafic volcanic rocks, which are relatively undeformed and unaltered; ultramafic and mafic volcanic rocks, which vary from weakly to strongly deformed, altered and contain felsic to intermediate porphyritic intrusions of varying shapes and sizes; and then metasedimentary rocks, which are interpreted to represent the footwall of the PDF on the Taylor property.
Gold mineralization at Taylor is located in the hanging wall of the PDF. Four mineralized deposits have been identified over a strike length of 2 kms. From east to west these are; the Shaft Deposit, with gold mineralization associated with felsic intrusive rocks; the East and West Porphyry deposits, a system of stacked lenses, with the gold mineralization associated with felsic intrusive and altered mafic-ultramafic rocks (Green Quartz Carbonate); and the Shoot Deposit, with gold mineralization hosted by argillaceous metasedimentary rocks within a package of green quartz carbonate. Follow drilling will continue east of the shaft zone throughout 2017. Gold commonly occurs as relatively coarse-sized free gold in quartz, but also occurs as fine particles, which may be intimately associated with sulphides both in quartz-carbonate veins and in surrounding altered host rocks.
To view a PDF of the tables and figures referenced in this News Release, visit the links below. All tables are also provided at the bottom of this News Release.
David Schonfeldt P. Geo Exploration Manager KL north, is a “qualified person” as such term is defined in National Instrument 43-101 and has reviewed and approved the scientific and technical information included in this News Release.
QA / QC Controls
The Company has implemented a quality assurance and control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. The drill core is sawn in half with one half of the core sample shipped to SGS Laboratories located in Cochrane, ON or Swastika Laboratories situated in Swastika, ON. The other half of the core is retained for future assay verification. Other QA/QC measures includes the insertion of certified reference standards and blanks into the sample stream, and the regular re-assaying of pulps and rejects at alternate certified labs. Gold analysis is conducted by fire assay using atomic absorption or gravimetric finish. The laboratory re-assays at least 10% of all samples and additional checks may be run on anomalous values.
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a mid-tier gold producer with 2017 production targeted at 570,000 – 590,000 ounces of gold from mines in Canada and Australia. The production profile of the company is anchored from two high-grade, low-cost operations, including the Macassa Mine located in Northeastern Ontario and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management and operational expertise.
|(1)||Reported intercepts are core lengths, with higher grade assays cut to 30 g/t Au. True widths have not been determined at this time. See Tables 1 and 2 provided below for detailed information regarding both the surface and underground assay results.|
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