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Kirkland Lake Gold Ltd.
Summary
| Project: | Northern Territory Operations | |
|---|---|---|
| Deposit: | Union Reefs | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 4/30/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 30-4-2018: Kirkland Lake Gold Ltd. announces an Exploration/Drilling Update report for its Union Reefs deposit at the Northern Territory Operations project. Drilling results incl. 1.1m @ 95.0g/t Au from 1224.9m. Toronto, Ontario – April 30, 2018 - Kirklan | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Mark Edwards (Internal) | |
| ABSTRACT: | Toronto, Ontario – April 30, 2018 - Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced positive drill results at Union Reefs, where the Company’s processing plant in the Northern Territory is located. The Company’s Northern Territory operations, including the Union Reefs Mill and Cosmo Mine, have been on care and maintenance since June 30, 2017. Four holes for 4,287 m were drilled from surface to test the potential of the Prospect Deposit (“Prospect”), Crosscourse Deposit (“Crosscourse”) and the Lady Alice Deposit (“Lady Alice”), all related to historic open-pit mining activities at Union Reefs. The results indicate the continuation of gold mineralization at the three deposits below known Mineral Resources, and highlights the potential for Mineral Resource expansion at each location within the Union Reefs gold trends. Drilling at Union Reefs is being conducted as part of a multi-location exploration program intended to establish economic deposits that may warrant the resumption of operations in the Northern Territory. Another key component of the program is exploration drilling and development at the Lantern Deposit, located at the Cosmo mine site approximately 70 km from Union Reefs. In December 2017, the Company announced drill results that significantly expanded the size of the Lantern Deposit, and included the highest-grade intersection ever identified at Cosmo (4,750 g/t Au over 0.3 m, with an estimated true width (“ETW”) of 0.2 m), located approximately 250 m north of the known Lantern mineralization (see Kirkland Lake Gold News Release dated December 19, 2017). Underground development into the Lantern Deposit from the existing Cosmo ramp commenced in early April 2018, with total development to date of 120 m. In total, two exploration drifts are currently being developed to expose the Lantern mineralization and support underground drilling, mapping and sampling as the Company works towards bringing the Lantern Deposit into production. | |
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