10:27 AM EST, 12/18/2019 (MT Newswires) -- Kirkland Lake Gold Ltd. (TSX:KL) (NYSE:KL) (ASX:KLA) detailed Wednesday what it called further exploration success in the Northern Territory, Australia at the Union Reefs project (Millars and Union North deposits), Lantern Deposit and Liberator target near Cosmo, and the Gandy's Deposit in Pine Creek project area. It said results continue to highlight the potential for long-term, profitable mining operations in a historic mining district with over 4.5 million ounces of gold produced over the past four decades. Kirkland Lake Gold owns 100% interests in most of the significant gold deposits.

According to a statement, these results continue to advance the Northern Territory strategy of Kirkland Lake Gold to develop multiple mining centres to feed the central Union Reefs mill. It said mining and underground development are underway across the Lantern Deposit at Cosmo. Also, the company is continuing to advance the permitting of a portal and decline to support an underground exploration program into the Prospect mineralization at Union Reefs.

Tony Makuch, President and CEO, said: "The new drill results in the Northern Territory confirm the existence of high-grade mineralization at multiple targets, which supports the potential for long-term, profitable production at our 2.4 million tonne per annum Union Reefs mill. Given the positive results at Lantern and Union Reefs, and new drill programs at Pine Creek and Liberator, we are increasingly confident that we can establish a significant mining centre in the Northern Territory. With continued progress, we could be in a position to resume commercial operations in the Northern Territory as early as late February when we release our December 31, 2019 Mineral Reserve and Mineral Resource estimates. Work is continuing with three underground drills currently working at the Lantern Deposit at Cosmo and mineralization continuing to be processed on a test basis at Union Reefs Mill."

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