Kirkland Lake drills bonanza gold at Macassa Mine

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Kirkland Lake Gold Ltd. [KL-TSX, NYSE] has released new drill results from 135 holes (47,683 metres) of underground exploration drilling from the Macassa Mine in Kirkland Lake, Ontario. Holes in the program were completed from platforms located on the 5300, 5600 and 5700 levels and designed mainly to confirm and extend resources within the SMC, LSMC and Amalgamated zones. Resources within the Amalgamated Zone consist of a series of mineralized lenses first identified by drilling in 2019 located on the south side of the SMC and adjacent to the Amalgamated break.

Tony Makuch, President and CEO, commented: “Today’s results are encouraging as they support our view that there is substantial exploration potential in areas where the dip of the SMC approaches the contact with mineralized zones stacked vertically along the Amalgamated break. These are separate areas of gold mineralization coming together, which is very interesting, and what we are seeing are some extremely high-grade intersections. The results today also continue to expand the mineralization at depth in the LSMC and identify new areas of high-grade mineralization along the Amalgamated break, further increasing our confidence that there are new mineral reserves to be discovered as we drill along the break through the Kirkland Lake camp.”

One of the holes (427 metres) completed during the program (57-992) was collared in a platform on the north side of the 5700 level and drilled in a southwesterly direction to test the margin of the SMC. The hole was highly successful intersecting 253.7 g/t gold over 14.5 metres, including 1,572.9 g/t over 0.6 metres, 1,313.5 g/t over 0.3 metresd and 1,265.1 g/t over 0.6 metres near the planned target location and slightly below the current mineral reserve for the SMC.

The new intercept is also located between nine and 39 metres west of three previously unreported intercepts from the SMC including 101.1 g/t over 4.1 metres from 57-704, 100.1 g/t over 2.0 metres from 57-689 and 37.7 g/t over 3.6 metres from 57-703, as well as four additional high-grade intercepts located immediately north of the Amalgamated break.

One of these four Amalgamated Zone intercepts is a new result and included 68.2 g/t over 2.3 metres from 53-3053, while the other three intercepts had been previously reported and included 429.1 g/t over 3.3 metres, 164.8 g/t over 3.0 metres and 26.7 g/t over 2.0 metres.

Key intercepts from the new drilling include 33.3 g/t over 2.0 metres, including 177.6 g/t over 0.4 metres, 32.1 g/t over 2.0 metres, 22.0 g/t over 3.2 metres and 20.2 g/t over 2.0 metres and other good gold intercepts.

Considering the results achieved and the fact that the area immediately to the west of the new holes remains largely untested, the potential to add new mineral resources with further drilling is considered excellent.

Based on the latest results, and the large areas remaining to be tested along strike and dip, the potential to identify new areas of high-grade mineralization along the Amalgamated break is also considered excellent.

Exploration drilling at Macassa is currently continuing with nine drills underground and one drill on surface. Drilling over the balance of the year will remain focused on testing the SMC and Amalgamated zones. Refer to company press release for complete drill results.

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