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Kirkland Lake Gold Expands Recently Discovered High-Grade Mineralization Along Amalgamated Break and Extends South Mine Complex at Macassa Mine

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Kirkland Lake Gold Expands Recently Discovered High-Grade Mineralization Along Amalgamated Break and Extends South Mine Complex at Macassa Mine

 

 

 

 

 

Kirkland Lake Gold Ltd. (TSX:KL) (NYSE:KL) (ASX:KLA) today reported new drill results from underground exploration drilling at the Macassa Mine in Kirkland Lake, Ontario. The new results include 45 drill holes (15,238 m) of drilling from the east and west exploration drifts on the 5300-foot level as well as from the 5600-foot level Ramp Development. Results being reported today are from three underground drill rigs focused on targeting the Amalgamated Break as well as the SMC West and East. Drilling will continue through the remainder of 2019.

 

A total of 27 drill holes for 6,664 m were drilled south from the 5300 Level west exploration drift and an additional 3 drill holes for 1,128 m of drilling were completed from the 5600 Ramp targeting mineralization associated with the Amalgamated Break (Figure 2). The new drill results confirm and build upon the results reported from this area as highlighted in the Company’s May 2, 2019 and September 16, 2019 news releases and has resulted in new intersections 35 m west of the previously released intercepts, as well as numerous high-grade infill intercepts. An additional 15 drill holes for 7,446 m were drilled from the 5300 Level east exploration drift targeting the SMC East (Figure 3) to follow up on previously released positive results. The new drilling further extended the high-grade mineralization by 75 m to the east of the SMC and confirmed the continuity of known mineralization outside of existing Mineral Resources.

 

Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “Today’s results highlight the substantial exploration potential along the Amalgamated Break and further increase our confidence that we can significantly grow the SMC. The new intersections along the Amalgamated Break both confirm and expand the known areas of high-grade mineralization in this very high-potential area. We have already identified two key areas of high-grade mineralization associated with the Amalgamated Break and will continue to drill to extend these areas and explore for new high-grade zones.  At the SMC, we previously announced that we had intersected high-grade mineralization close to 300 m to the west and 200 m to the east of current Mineral Resources and have since extended the known mineralization to the east another 75 m. We have also established the continuity of mineralization to the east with a number of new high-grade intersections from infill drilling. Going forward, we will continue to drill along the Amalgamated Break, which has both significant near and longer-term exploration potential, and will also work to further extend high-grade mineralization around the SMC as part of our work to replace and grow Mineral Reserves and Mineral Resources at Macassa.”

 

Amalgamated Break and SMC West

 

A total of 30 holes for 7,792 m of drilling is being reported from drilling off of the 5300 Level west exploration drift and the 5600 Ramp targeting the Amalgamated Break near the merge point of the SMC (Figures 1 and 2).  The current phase of the exploration drilling program was designed to extend the known limits of the mineralization associated with the Amalgamated Break as well as infill previously tested areas with tighter spaced drilling to aid in the interpretation of the geometry of the mineralization. The program has been successful in intersecting additional high-grade mineralization in both regards.  Drill holes of note in this area include: 32.5 g/t over 3.5 m core length in Hole 53-3916, 40.3 g/t over 2.7 m core length in Hole 53-3917 and 12.1 g/t over 12.8 m core length in Hole 53-3918A. Further drilling and interpretation work are necessary to confirm geometries of individual intercepts. Refer to Table 1 for a completed list of drill hole results.  The Amalgamated Break has been largely untested and represents an important emerging exploration target which remains open and represents a highly prospective target area for the addition of new Mineral Resource ounces. Drilling to follow up on the down dip and eastern and western extent of this mineralization will continue into 2020.

 

SMC East

 

A total of 15 holes for 7,446 m of drilling is being reported from drilling off of the 5300 Level east exploration drift targeting the SMC East (Figure 3).  The current phase of the exploration drilling program was designed to extend the known limits of the SMC East as well as infill previously tested areas with tighter spaced drilling to support potential resource growth. The program has proven successful in extending the known high-grade mineralization envelope an additional 75 m east of previously released intercepts (see news release dated September 16, 2019) as well as confirming continuity of the known mineralization with the addition of several high-grade infill intercepts. Drill holes of note in this area include: 50.8 g/t over 2.4 m core length in Hole 53-3927, 47.7 g/t over 2.0 m core length in Hole 53-3926 and 30.1 g/t over 2.0 m core length in Hole 53-3888. The shallow dipping SMC East horizon continues to deliver positive results and remains one of the key target areas to support resource growth and future mining opportunities for #4 Shaft.  Drilling on the SMC East from the 5300 Level east exploration drift will continue for the remainder of the year.

 

To view the figures accompanying the press release, please click on the following links:

 

Figure 1. Plan View – Amalgamated Break


https://www.globenewswire.com/NewsRoom/AttachmentNg/d52575fa-5933-40ed-b0ff-fa67b942b293

 

Figure 2. Cross Section – Amalgamated Break Looking Southwest


https://www.globenewswire.com/NewsRoom/AttachmentNg/b9b8e7cf-3a95-4638-856d-e6c25e01bc5b

 

Figure 3. Plan View – SMC East


https://www.globenewswire.com/NewsRoom/AttachmentNg/c7646520-e86f-4725-8fd3-eeb00658065a

 

2019 Underground Exploration Development

 

Underground development on the 5300 Level has been ongoing throughout 2019 including advances both to east and to the west and the excavation of diamond drill platforms. This development is part of an ongoing effort to expand the SMC and Amalgamated Break in all directions and to test for, and define, new target areas.

 

Qualified Person

 

The Company’s exploration programs at Macassa are conducted under the supervision of Eric Kallio, P.Geo., Senior Vice President, Exploration. Eric Kallio is the ‘qualified person’ for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators, and has reviewed and approved the scientific and technical information in this news release.

 

For further information regarding the Company’s 2018 Mineral Reserves and Mineral Resources estimates for the Macassa Mine, please refer to the Company’s news release dated February 21, 2019 and the Technical Report entitled “Macassa Property, Ontario, Canada, Updated NI 43-101 Technical Report”.

 

QA/QC Controls

 

The Company has implemented a quality assurance and control program to ensure sampling and analysis of all exploration work is conducted in accordance with best practices. The drill core is sawn in half with one half of the core samples shipped to Swastika Laboratories in Swastika, Ontario. The other half of the core is retained for future assay verification. Other QA/QC includes the insertion of certified reference standards, blanks 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 growing gold producer operating in Canada and Australia that produced 723,701 ounces in 2018 and is on track to achieve significant production growth over the next three years, including target production of 950,000 – 1,000,000 ounces in 2019, 930,000 – 1,010,000 ounces in 2020 and 995,000 – 1,055,000 ounces in 2021. The production profile of the Company is anchored by two high-grade, low-cost operations, including the Macassa Mine located in Northern 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.

 

Table 1. Macassa Exploration Drilling – Amalgamated Break (“AK Break”) and West SMC

Macassa Exploration 2019
Drill Hole Zone COLLARS – UTM NAD 83 Direction   Core Interval Results
Easting Northing Azimuth
(°)
Dip End Depth
 (m)
From (m) To (m) Length (m) Au_GPT
53-3839 AK Break 568754 5331154 100 -57 251 152.6 155.3 2.7 5.1
  AK Break           157.3 165.2 8.0 5.2
Including             163.1 163.8 0.8 13.6
53-3843 AK Break 568754 5331154 162 -68 229 171.6 174.0 2.4 3.5
  AK Break           176.3 178.4 2.1 3.9
53-3844   568754 5331154 183 -49 213 NSV
53-3845 West SMC 568754 5331154 192 -68 274 147.9 151.3 3.4 29.4
Including             150.0 151.3 1.3 64.4
  West SMC           156.3 158.7 2.4 8.9
53-3846   568754 5331154 205 -37 259 NSV
53-3859   568754 5331154 211 -44 268 NSV
53-3860   568754 5331154 219 -32 335 NSV
53-3914 AK Break 568756 5331152 86 -38 335 193.2 197.2 4.0 14.4
Including             193.2 194.2 0.9 48.6
Including             196.6 197.2 0.6 17.1
53-3915 AK Break 568756 5331152 97 -65 305 209.7 218.5 8.8 9.6
Including             214.6 217.6 3.0 17.6
53-3916 AK Break 568756 5331152 99 -51 282 163.1 166.6 3.5 32.5
Including             163.1 163.8 0.7 73.2
  AK Break           167.8 169.8 2.0 3.9
  AK Break           182.7 184.8 2.1 30.7
Including             182.7 183.9 1.2 50.7
53-3917 AK Break 568756 5331152 102 -65 290 195.4 204.5 9.1 11.8
  AK Break           207.0 209.7 2.7 40.3
Including             207.0 207.6 0.6 84.4
53-3918 AK Break 568756 5331152 111 -67 15 Hole Re-collared – 53-3918A
53-3918A AK Break 568756 5331152 111 -67 282 184.7 197.5 12.8 12.1
53-3919 AK Break 568756 5331152 111 -32 268 NSV
53-3920A AK Break 568756 5331152 123 -76 9 Hole Re-collared – 53-3920
53-3920 AK Break 568756 5331152 123 -76 305 223.7 228.6 4.9 5.3
53-3921 West SMC 568756 5331152 128 -69 274 152.4 154.5 2.1 8.9
Including             153.3 153.9 0.6 18.9
  West SMC           157.1 159.1 2.0 3.3
Including             157.6 158.2 0.6 9.2
  AK Break           166.9 168.9 2.0 7.2
Including             166.9 167.6 0.7 19.2
  AK Break           179.5 182.3 2.7 3.1
  AK Break           184.7 188.7 4.0 15.8
Including             185.2 185.9 0.8 49.7
53-3922 AK Break 568756 5331152 159 -70 290 NSV
53-3938 AK Break 568756 5331152 109 -59 226 NSV
53-3939 AK Break 568756 5331152 122 -53 195 NSV
53-3941 AK Break 568756 5331152 143 -61 232 83.0 85.0 2.0 58.3
Including             83.6 84.6 0.9 128.2
53-3942 AK Break 568756 5331152 166 -63 192 NSV
53-3943 AK Break 568756 5331152 166 -56 223 NSV
53-3944 AK Break 568756 5331152 181 -61 253 NSV
53-3945 AK Break 568756 5331152 186 -54 192 NSV
53-3959 AK Break 568756 5331152 107 -78 329 NSV
53-3960 West SMC 568756 5331152 134 -78 338 108.5 110.5 2.0 33.0
Including             109.1 109.6 0.5 144.5
  AK Break           173.7 175.7 2.0 3.5
Including             174.8 175.3 0.5 14.4
  AK Break           228.7 230.7 2.0 4.2
Including             229.2 230.1 0.9 9.1
56-738 AK Break 568728 5331341 127 -22 351 NSV
56-741 AK Break 568728 5331341 117 -19 366 NSV
56-750 West SMC 568728 5331341 111 -17 411 198.9 200.9 2.0 18.5
Including             199.3 200.1 0.7 50.3
  AK Break           277.4 279.4 2.0 49.1
Including             278.3 279.2 0.9 106.6
  AK Break           299.9 302.7 2.7 6.5

Table 2. Macassa Exploration Drilling – SMC East 

Macassa Exploration 2019
Drill Hole Zone COLLARS – UTM NAD 83 Direction   Core Interval Results
Easting Northing Azimuth (°) Dip End Depth (m) From (m) To (m) Length (m) Au_GPT
53-3849 East 570168 5331803 309 -42 472 301.1 303.3 2.1 17.9
53-3850 East 570168 5331803 323 -55 411 281.8 283.8 2.0 27.4
Including             282.2 282.6 0.4 126.8
  East           294.7 297.2 2.4 13.8
Including             295.5 296.6 1.1 25.4
53-3855 East 570168 5331803 355 -57 381 321.4 323.4 2.0 3.4
              340.0 342.0 2.0 9.9
Including             340.0 340.7 0.7 28.8
53-3887 East 570168 5331803 334 -43 579 318.5 320.5 2.0 12.3
Including             319.6 319.9 0.3 80.8
53-3888 East 570168 5331803 349 -39 445 326.8 328.8 2.0 30.1
Including             327.5 328.0 0.5 129.3
  East           338.3 340.3 2.0 11.1
Including             339.9 340.3 0.5 47.4
53-3889   570168 5331803 352 -43 442 NSV
53-3890 East 570168 5331803 352 -37 457 316.1 318.5 2.4 4.1
  East           327.4 329.8 2.4 4.9
Including             328.3 329.2 0.9 11.2
  East           337.7 339.7 2.0 13.1
Including             338.9 339.2 0.3 82.5
53-3891 East 570168 5331803 359 -51 494 341.5 343.5 2.0 8.8
Including             342.4 343.5 1.1 16.0
53-3892 East 570168 5331803 359 -43 503 343.5 345.5 2.0 9.3
Including             344.5 344.8 0.3 59.6
  East           363.9 366.1 2.1 4.8
Including             363.9 364.5 0.6 13.2
53-3926 East 570168 5331803 307 -48 549 272.7 274.7 2.0 11.4
Including             272.9 273.3 0.4 60.2
  East           295.6 297.6 2.0 47.7
Including             295.6 295.9 0.3 278.5
  East           423.5 425.5 2.0 6.4
Including             424.4 424.9 0.5 24.4
53-3927 East 570168 5331803 324 -50 671 292.9 295.4 2.4 50.8
Including             294.1 294.7 0.6 152.5
  East           299.3 301.8 2.4 6.0
  East           303.0 305.9 2.9 5.7
53-3928 East 570168 5331803 313 -28 549 377.4 379.4 2.0 6.7
Including             378.0 378.5 0.5 25.7
  East           528.3 530.4 2.0 8.8
Including             528.8 529.5 0.7 25.2
53-3948 East 570168 5331803 308 -28 533 314.1 316.1 2.0 10.8
Including             315.0 315.6 0.6 33.5
53-3949   570168 5331803 296 -23 457 NSV
53-3950   570168 5331803 302 -42 503 NSV

 

Posted December 11, 2019

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