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Kirkland Lake Gold Ltd.
Summary
| Project: | Macassa Mine | |
|---|---|---|
| Deposit: | South Mine Complex | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 4/27/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-4-2018: Kirkland Lake Gold Ltd. announces an Exploration/Drilling Update report for its South Mine Complex deposit at the Macassa Mine project. Drilling results incl. 1.6m @ 210.5g/t Au from 222.0m. Toronto, Ontario – April 27, 2018 – Kirkland Lake Gol | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stewart Carmicheal (Internal) | |
| ABSTRACT: | Toronto, Ontario – April 27, 2018 – Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today reported new high-grade drill intersections from underground exploration drilling on the SMC at the Macassa Mine, Kirkland Lake, Ontario. The new results involve 44 holes for 17,264 m of underground drilling from the 5305-foot level (“5305 Level”) east exploration drift. Underground drilling from the 5305 Level will continue throughout the remainder of 2018. A new drill bay has been recently completed at the east end of the exploration drift, which will allow further easterly exploration of the SMC later in the year. The new high-grade Intersections are situated within the 259 m eastern extension of the SMC, that was first reported on June 28, 2017 (see Kirkland Lake Gold News Release dated June 28, 2017). The results are significant as they will support both the conversion of existing Inferred Mineral Resources, as well as Mineral Resource expansion, given that many of the intersections are located outside existing Mineral Resource blocks. The intersections being reported today are located approximately 550 m south-southeast of the new #4 Shaft, which is targeted for completion early in 2022. By comparison, the new intersections are approximately 2.1 km east of the current production shaft (the #3 Shaft). Tony Makuch, President and Chief Executive Officer of Kirkland Lake Gold, commented: “The eastern extension of the SMC was a significant development for the Macassa Mine and was the key driver of our recent strong growth in Mineral Resources. On February 20, 2018 we announced a 58% increase in Measured and Indicated Mineral Resources at the mine, to 2.1 million ounces at an average grade of 17.1 g/t, and a 48% increase in Inferred Mineral Resources, to 1.4 million ounces at an average grade of 22.2 g/t. The new drill results further increase our confidence that, going forward, we will see a significant percentage of our Mineral Resource base converted into Mineral Reserves. The results also confirm the considerable potential that exists to increase Mineral Resources through additional drilling within the known area of SMC mineralization. The opportunity to substantially grow ounces and extend mine life at Macassa was a key factor in our decision to move forward with our #4 Shaft project. Exploration work is continuing at the mine, with three underground drills in operation to further explore for Mineral Resource conversion and expansion opportunities in the SMC.” | |
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