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Kirkland Lake Gold Ltd.
Summary
| Project: | Fosterville | |
|---|---|---|
| Deposit: | Swan | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/31/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 31-7-2018: Kirkland Lake Gold Ltd. announces an Exploration/Drilling Update report for its Swan deposit at the Fosterville project. Drilling results incl. 13.8m @ 134g/t Au from 273.0m. Toronto, Ontario – July 31, 2018 - Kirkland Lake Gold Ltd. (“Kirkland | |
| Resources: | (Reserve, P+P): 2.288Mt @ 23.11g/t Au for 1699Koz Au | |
| CP/QP: | [Overall Report]: Troy Fuller (Internal) | |
| ABSTRACT: | Toronto, Ontario – July 31, 2018 - Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) is pleased to report continued high-grade results from drilling at the Fosterville Mine in Victoria, Australia. Underground drilling continues to target additional growth in Mineral Reserves and Mineral Resources at the high-grade Swan Zone, as well as potential new mineralized structures close to existing infrastructure and the identification of down-plunge extensions of the Lower Phoenix Gold System. The new results include 45 holes totaling 24,888 m that drilled the Lower Phoenix Gold System. Recent drill results from 21 holes totaling 8,737 m outside of current Measured and Indicated Mineral Resources of the Swan Zone continue to return intervals of exceptionally high grade with visible gold, confirming that high-grade, visible-gold bearing quartz veins extend approximately 100 m down-plunge from current Mineral Reserves, with visible gold detected for another 110 m down-plunge. The results support the potential for high levels of Mineral Resource conversion into Mineral Reserves. Current Mineral Resources in the Swan Zone include 171,000 ounces at an average grade of 116 g/t (Indicated) and 671,000 ounces at an average grade of 36.6 g/t (Inferred). Recent mine development into Swan confirmed the high-grade tenor of the Mineral Resources, with extremely high-grades and abundant visible gold observed at the juncture of the Swan and Eagle structures. In addition, drill results approximately 125 m footwall (east) of the Swan Zone identified a new, parallel mineralized structure, called Cygnet, which represents a significant opportunity for future Mineral Resource expansion. Results from deep underground drilling included nine holes totaling 7,901 m, which intersected the Lower Phoenix Gold System approximately 750 m down-plunge from the deepest Mineral Resources. The results highlight the considerable depth potential for future growth in Mineral Resources | |
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