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Kirkland Lake Gold Ltd.
Summary
| Project: | Fosterville | |
|---|---|---|
| Deposit: | Fosterville Underground | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/8/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 8-8-2017: Kirkland Lake Gold Ltd. announces an Exploration/Drilling Update report for its Fosterville Underground deposit at the Fosterville project. Drilling results incl. 33.6m @ 338g/t Au from 353.6m. Toronto, Ontario – August 8, 2017 - Kirkland Lake G | |
| Resources: | (Reserve, P+P): 1.79Mt @ 17.9g/t Au for 1.03Moz contained at Fosterville underground | |
| CP/QP: | [Overall Report]: Troy Fuller (Internal) | |
| ABSTRACT: | Toronto, Ontario – August 8, 2017 - Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (OTCQX:KLGDF) is pleased to report continued high-grade drill results at depth from underground drilling at Fosterville Mine in Australia. Underground definition drilling continues to infill and target downplunge extensions of the Swan Zone of the Lower Phoenix gold system to increase Mineral Resource confidence and assess the potential of further Mineral Reserve expansion. Recent drill results returned from six underground holes totaling 2,652 metres (“m”) into existing Mineral Resources and extensions of the Swan Zone (previously referred to as the Lower Phoenix Footwall) of the Lower Phoenix gold system continue to return intervals of extremely high grades with visible gold. Continuity of high-grade visible gold mineralization in the Swan Zone has now been defined over a strike extent of 300 m and vertical extent of 200 m. Recent drilling confirms that high-grade visible-gold mineralization extends approximately 80 m laterally to the south and 40 m below Swan Mineral Reserves as reported in the July 27, 2017 Kirkland Lake Gold News Release. Mr. Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “Today’s drill results continue to demonstrate both the continuity and growth potential of the high-grade Swan Zone within the Lower Phoenix gold system. The Swan Zone is the highest-grade area of the Fosterville mine, with a recently released Mineral Reserve including 532,000 ounces at an average grade of 58.8 g/t Au. Today’s results include two intercepts that are located between 70 and 90 m down plunge of the current Swan Zone Mineral Reserve, with additional high-grade mineralization being intersected to the south and at depth of the Zone. The results we are seeing from the ongoing drilling program are increasing our confidence in the geological controls and continuity of grade within the Swan Zone. They are also supporting our view that the potential exists to significantly grow the Swan Zone Mineral Reserve, where the average grade is well in excess of Fosterville’s overall underground Mineral Reserve, which includes 1,030,000 ounces at an average grade of 17.9 g/t Au. | |
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