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Kirkland Lake Gold Ltd.
Summary
| Project: | Cosmo Mine | |
|---|---|---|
| Deposit: | Lantern | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 20-12-2017: Kirkland Lake Gold Ltd. announces an Exploration/Drilling Update report for its Lantern deposit at the Cosmo Mine project. Drilling results incl. 0.91m @ 1624g/t Au from 277.42m. Toronto, Ontario – December 19, 2017 - Kirkland Lake Gold Ltd. ( | |
| Resources: | (Resource) 566kt @ 3.1g/t Au (Ind.) and 1.12Mt @ 2.9g/t Au 9Inf.) at Lantern | |
| CP/QP: | [Overall Report]: Mark Edwards (Internal) | |
| ABSTRACT: | Toronto, Ontario – December 19, 2017 - Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced positive drilling results at the Cosmo Mine (“Cosmo”) in the Northern Territory (“NT”), Australia. A total of 65 holes for 23,553 m from underground diamond drilling and nine holes for 4,184 m from surface drilling were completed to test the expansion potential of the Lantern Deposit (“Lantern”). The results substantially increase the deposit footprint, particularly to the north, and demonstrate the potential for significant growth in Mineral Resources. The high-grade gold mineralization intersected from recent drilling exhibits a change from fine-grained free gold in Cosmo Deposit to coarsergrained free gold in narrow quartz veins within Lantern. “The progress being made at Lantern increases our confidence that we can establish an economic deposit or deposits in the Northern Territory and resume mining and milling operations at the Cosmo Mine and Union Reefs Mill. In support of this goal, we are initiating an underground exploration development program on two levels, 320 m vertically apart, to access Lantern underground from the existing Cosmo ramp. This development will provide the first underground exposures of the Lantern mineralization, deliver improved drilling access and provide initial production platforms for the potential restart of operations in 2018. Five diamond drill rigs (three underground and two surface) and a reverse-circulation (“RC”) percussion drill rig are currently operating at the Cosmo Mine to further define and expand the Lantern mineralization.” | |
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