Kirkland Lake Gold Inc.
KGI is an operating and exploration gold Company in Kirkland Lake, Ontario which is located in the Lower Abitibi Greenstone belt in northeastern Ontario.
Message: Discovers New High Grade Zone 700 Feet Below SMC
| April 29, 2009 | ||
| Kirkland Lake Discovers New High Grade Zone 700 Feet Below SMC, Drill Hole 53-1280 Returns 1.00 Ounce of Gold per Ton Over 21.8 Feet | ||
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KIRKLAND LAKE, ONTARIO--(Marketwire - April 29, 2009) - Kirkland Lake Gold Inc. (TSX:KGI)(AIM:KGI) (the Company) is pleased to announce an update on exploration drilling testing part of the South Mine Complex (SMC). The SMC consists of 15 or more mineralized zones some of which are actively being explored and developed and others are now in production. As one of many exploration programs currently in progress, recent drilling to depths below the SMC, to test for potential stacking of systems, has intersected a new mineralized zone which may be associated with the SMC. "Drill hole 53-1280 proves there is potential for additional mineralization below the SMC which is largely between the -5000 and -5300 foot elevations," said Stewart Carmichael, Chief Exploration Geologist. He added, "At this point we're not sure if this new high grade zone is related to the SMC or is something entirely new. The mineralization in hole 53-1280 is hosted entirely within porphyry and marked by a strong footwall mylonitic break with minor pyrite and considerable visible gold. Additional drilling along strike will commence later in this year to verify geometry and continuity." The highlights of this recent drilling include: - Drill hole 53-1280 has intersected a new mineralized zone and assayed 1.00 ounces of gold per ton (opt) uncut (0.71 opt cut) over a core length of 21.8 feet. This intersection is located at the -6400 foot elevation or 1,100 feet below the -5300 level. The -5300 foot level is currently the focus of development and mining for the SMC (See press release dated April 21, 2009). - The SMC has been extended to the -5600 elevation. If the new intersection in drill hole 53-1280 is related to the SMC, it would be 700 feet below the known depth of the SMC (To view figure 1 please click on the following link: http://media3.marketwire.com/docs/kg... ). - Drill hole 53-1170 assayed 1.27 opt over a core length of 1.2 feet and may have intersected the same zone. This drill hole is located 450 feet west of hole 53-1280 and is the only other drill hole within 900 feet either east or west of hole 53-1280 which may have intersected the zone. The figure referred to in this release may be viewed at the Company's website, www.klgold.com and will provide context to the above statements. Figure 1 is a section showing the latest drilling results. The following table summarizes the latest drilling program (Imperial values).
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HOLE
DRILL FROM TO DIP AZIMUTH ASSAY
HOLE No. ZONE (feet) (feet) (degrees) (degrees) (oz per ton/feet)
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53-1280 New 1,164.5 1,186.3 -73 328 1.00/21.8' CL equals
Zone ?? TW, Uncut
0.71/21.8' CL equals
?? TW, Cut
Incl. 1,164.5 1,166.5 1.62/2.0' CL equals ??
TW, VG
and 1,183.3 1,184.8 7.29/1.5' CL equals ??
TW, VG
and 1,184.8 1,186.3 4.02/1.5' CL equals ??
TW, VG
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53-1170 New 1,202.1 1,203.1 -62 275 1.27/1.2' CL equals ??
Zone TW
(?)
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TW equals True Width
CL equals Core Length
VG equals Visible Gold
CUT equals cut to 3.5 opt
?? TW equals Unknown True Width
The following table summarizes the latest drilling program results (Metric values).
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HOLE
DRILL FROM TO DIP AZIMUTH ASSAY
HOLE No. ZONE (m) (m) (degrees) (degrees) (grams per tonne/m)
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53-1280 New 355.0 361.7 -73 328 34.29/6.7m CL equals
Zone ?? TW, Uncut
24.34/6.7m CL equals
?? TW, Cut
Incl. 355.0 355.6 55.54/0.6m CL equals
?? TW, VG
and 360.8 361.2 249.94/0.4m CL equals
?? TW, VG
and 361.2 361.7 137.83/0.5m CL equals
?? TW, VG
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53-1170 New 366.5 366.8 -62 275 43.54/0.3m CL equals
Zone ?? TW
(?)
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TW equals True Width
CL equals Core Length
VG equals Visible Gold
CUT equals cut to 120.0 grams/tonne
?? TW equals Unknown True Width
The Company purchased the Macassa Mine and the 1,500 ton per day mill along with four former producing gold properties - Kirkland Lake, Teck-Hughes, Lake Shore and Wright Hargreaves - in December 2001. These properties, which have historically produced some 22 million ounces of gold, extend over seven kilometres between the Macassa Mine on the west and Wright Hargreaves on the east and, for the first time, are being developed and explored under one owner. This camp is located in the Abitibi Southern Greenstone Belt of Kirkland Lake, Ontario, Canada. The results of the Company's underground diamond drilling program have been reviewed, verified (including sampling, analytical and test data) and compiled by the Company's geological staff (which includes a 'qualified person', Stewart Carmichael P.Geo., the Company's Chief Exploration Geologist, for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators). Mr. Carmichael also supervised the preparation of the information that forms the basis of the technical disclosure in this release. The Company has implemented a quality assurance and control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. The drill core is sawn in half with one half of the core samples shipped to the Swastika Laboratories in Swastika, Ontario, Polymet Resources Inc. in Cobalt, Ontario. The other half of the core is retained for future assay verification. Other QA/QC includes the insertion of blanks, and the regular re-assaying of pulps and rejects at alternate certified labs. Gold analysis is conducted by fire assay using atomic absorption or gravimetric finish. The laboratory re-assays at least 10% of all samples and additional checks may be run on anomalous values. The Company's Macassa Mine Property is the subject of reserve reports prepared by Glenn R. Clark, P.Eng., entitled: - Review of Resources and Reserves of the New South Mine Complex, Macassa Mine, Kirkland Lake, Ontario dated August 25, 2007. - Review of Resources and Reserves of Macassa Mine, Kirkland Lake, Ontario dated July 15, 2008. Both of these technical reports have been filed on SEDAR (www.sedar.com). |
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