10:00 AM EDT, 06/28/2017 (MT Newswires) -- Kirkland Gold (KL.TO) is trading at a near year high after intersecting new mineralization at Taylor Mine.

The company said drilling identified gold-bearing quartz veins at multiple locations up to 1.8 km east of Shaft Deposit (key intercepts: 5.14 g/t over 10.7m, 7.07 g/t over 3.1m, 16.46 g/t in 1.3m and 14.33 g/t over 4.2m);

New mineralization intersected in prospective area between Shaft Deposit and West Porphyry Deposit (key intercepts: 19.45 g/t over 1.1m, 12.61 g/t over 0.4m and 16.90 g/t over 0.7m)

East Porphyry Deposit extended 100 metres to depth (key intercepts: 23.81 g/t over 3.8m)

Underground drilling extends 1004 Zone at West Porphyry Deposit 150 metres down dip

Drill results highlight potential to grow mineral resources and reserves through new discoveries and extensions at existing deposits.

Since the start of the year, a total of 28 holes or 10,365 metres of surface exploration drilling and 17 holes or 6,588m of underground exploration drilling have been completed, Kirkland Gold reported.

Tony Makuch, President and CEO of Kirkland Lake Gold said,"We are very encouraged by the grades encountered almost 2 km to the east of the Shaft Deposit, which demonstrate the extensiveness of mineralization at Taylor and the potential that exists to find new mineral deposits to support increased mine life. Based on results to date, we are also confident that mineral resources and reserves can be increased around the East and West Porphyry deposits."

Price: 11.99, Change: +0.03, Percent Change: +0.25