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Kirkland Lake Gold Ltd.
Summary
| Project: | Fosterville | |
|---|---|---|
| Deposit: | Fosterville Underground | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/7/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 7-11-2017: Kirkland Lake Gold Ltd. announces an Exploration/Drilling Update report for its Fosterville Underground deposit at the Fosterville project. Drilling results incl. 8.85m @ 991g/t Au from 244.2m. Toronto, Ontario – November 7, 2017 - Kirkland Lak | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Troy Fuller (Internal) | |
| ABSTRACT: | Toronto, Ontario – November 7, 2017 - Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) is pleased to report continued high-grade drill results at depth from underground drilling at Fosterville Mine in Australia. Underground definition drilling continues to target and infill down-plunge extensions of the Swan Zone of the Lower Phoenix gold system to establish new Mineral Resources, increase confidence in existing Mineral Resources and assess the potential of further Mineral Reserve expansion. Recent drill results from 15 underground holes totaling 2,150 m outside of Measured and Indicated Mineral Resources of the Swan Zone in the Lower Phoenix gold system continue to return intervals of exceptional highgrade with visible-gold. Continuity of high-grade visible-gold mineralization in the Swan Zone is now defined over a plunge length of 460 m and vertical extent of 300 m. Recent step out drilling confirms that high-grade, visible-gold mineralization extends approximately 175 m laterally to the south and 100 m below Swan Mineral Reserves as reported in the July 27, 2017 Kirkland Lake Gold News Release. Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “The extension of the Swan Zone by 120 m down-plunge of the known Mineral Resources is very encouraging and supports our view that a substantial opportunity exists to grow the Swan Zone through additional step-out drilling. The results also include highgrade intersections within the existing Inferred Mineral Resources, which further demonstrates the potential to grow Mineral Reserves through Mineral Resource conversion. The Swan Zone is the highest-grade area of the Fosterville mine, with an initial Mineral Reserve of 532,000 ounces at an average grade of 58.8 g/t Au. A key objective of our exploration program at Fosterville, both this year and into 2018, is to continue growing Mineral Reserve ounces in this extremely high-grade area of the Fosterville mine, as well as to evaluate a number of other structures that offer the potential for future high-grade gold discoveries. | |
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