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Kirkland Lake Gold Ltd
Symbol KL
Shares Issued 210,189,007
Close 2019-12-09 C$ 53.77
Recent Sedar Documents

Kirkland Lake drills 3.7m of 24.5 g/t Au at Fosterville

2019-12-10 06:38 ET - News Release

Mr. Anthony Makuch reports

KIRKLAND LAKE GOLD EXPANDS HIGH-GRADE MINERALIZATION AT ROBBIN'S HILL, RESULTS HIGHLIGHT OPPORTUNITY FOR SECOND MINING OPERATION AT FOSTERVILLE

Kirkland Lake Gold Ltd. has released new high-grade results from the continuing surface drilling at the Fosterville mine in Victoria, Australia. Recent surface drilling targeting additional growth in mineral resources confirmed mineralization down plunge of the existing mineral resource at Robbin's Hill. In addition, surface infill drilling into current mineral resources continues to return high-grade results, with two intercepts containing visible gold, providing confirmation of the geological model. Drill results reported are from 66 holes (36,428 m) that targeted extension and infill of the Robbin's Hill mineral resources. Drill results reported are after the December, 2018, mineral resource and mineral reserve update (see press release dated Feb. 21, 2019).

Tony Makuch, president and chief executive officer of Kirkland Lake Gold, commented: "For a long time, we've been saying that there could be more Fostervilles at Fosterville and, with today's results, Robbin's Hill has clearly emerged as a second potential mining front to provide feed to our Fosterville mill. Based on current drilling, we have already identified a large mineralized system at Robbin's Hill that we expect will support substantially higher levels of mineral resources and that remains open at depth and along strike. Most of our drilling has targeted areas 650 m from surface and higher. The level of VG in quartz that we've intersected in this area compares favourably to levels seen at the existing Fosterville mine at similar elevations. The presence of VG in quartz and 500 m down-plunge extension of Robbin's Hill mineralization, included in today's results, highlight the potential for future discoveries of high-grade, VG-bearing zones at depth similar to Swan and Eagle at Fosterville's Lower Phoenix system. Work is continuing at Robbin's Hill with five surface drill rigs on site and plans currently being finalized for future underground development and drilling."

In addition to drilling and other exploration techniques, the company is currently performing a 3-D seismic survey covering an approximate six square kilometres in the north part of the Fosterville mining licence. The geophysical survey is the first of its kind to be undertaken in Victoria for gold exploration and will provide a high-resolution 3-D data set to a depth of over one kilometre. The company is optimistic that results of this detailed survey will assist in the definition of structural features and mineralized corridors which will aid the future exploration and development of the Robbin's Hill area.

Robbin's Hill drilling programs

During 2019, up to six surface diamond drills operated in the Robbin's Hill area, primarily targeting gold mineralization along the west-dipping Curie fault, one of the controlling structures for mineralization at Robbin's Hill. Programs have included infill drilling within the existing mineral resource, and also extension and stepout drilling along the Robbin's Hill mineralization trend. Five surface drills continue to operate at Fosterville and are focused on mineral resource extension and other targets, and north along the Fosterville fault zone mineralized trend.

Infill drilling

Since the December, 2018, Fosterville mineral resource and reserves update a total of 37 surface diamond infill holes for 16,677 m have been drilled into the mineral resource at Robbin's Hill in 2019. The intent of infill drilling was to produce an approximate 50 m by 50 m spacing of drill intercepts, to assess continuity and tenor of mineralization, and provide data for potential upgrade of the inferred mineral resource to an indicated mineral resource category.

Results from the continuing infill drilling program reaffirm the continuity of the mineralization within the mineral resource, and of the 37 infill holes, 11 returned results greater than 30 gram-metres, including two holes with VG. The VG occurs on the west-dipping Curie fault, where it passes beneath an anticline closure, as shown in cross-section 12,725mN on the company's website.

In the Curie structure, the two instances of VG present as fine disseminations in quartz, akin to examples of VG observed in the Swan orebody.

Key VG and sulphide-gold-bearing intercepts include:

High-grade visible-gold bearing intercepts greater than 80 gram-metres:

  • 11.7 grams per tonne gold over 8.8 m (estimated true width 7.2 m), including 81.7 g/t Au over 0.5 m (ETW 0.4 m) in hole RHD321;
  • 24.5 g/t Au over 3.7 m (ETW 3.4 m), including 82.3 g/t Au over 1.0 m (ETW 0.9 m) in hole RHD334A.

Visible gold drill intercept

Sulphide-gold-bearing intercepts greater than 30 gram-metres:

  • 11.3 g/t Au over 11.1 m (ETW 10.1 m) in hole RHD331;
  • 10.5 g/t Au over 9.2 m (ETW 5.5 m) in hole RHD300;
  • 6.8 g/t Au over 11.1 m (ETW 9.0 m) in hole RHD340;
  • 7.0 g/t Au over 6.3 m (ETW 6.0 m) in hole RHD347;
  • 5.5 g/t Au over 8.8 m (ETW 7.8 m) in hole RHD363;
  • 4.7 g/t Au over 10.7 m (ETW 9.1 m) in hole RHD356;
  • 3.3 g/t Au over 18.6 m (ETW 17.1 m) in hole RHD336;
  • 7.3 g/t Au over 5.0 m (ETW 4.9 m) in hole RHD339;
  • 5.1 g/t Au over 11.9 m (ETW 6.1 m) in hole RHD302.

Results from the drilling programs will provide new data for the end-of-year mineral resource update and mineral reserve studies.

Extension and stepout drilling

In addition to the infill drilling, extension and stepout drilling was completed and consisted of 29 holes for 19,751 m, of which 27 holes were drilled to attain an approximate 100 m by 50 m spacing, with results to support modelling of down-plunge mineralization for mineral resource growth.

Seven of the holes returned results greater than 20 gram-metres and include:

  • 6.5 g/t Au over 12.7 m (ETW 10.2 m) in hole RHD380;
  • 6.4 g/t Au over 11.0 m (ETW 10.1 m) in hole RHD383;
  • 8.2 g/t Au over 4.0 m (ETW 3.8 m) in hole RHD288;
  • 6.3 g/t Au over 4.0 m (ETW 3.6 m) in hole RHD325;
  • 5.5 g/t Au over 4.7 m (ETW 4.0 m) in hole RHD333;
  • 3.7 g/t Au over 18.7 m (ETW 6.4 m) in hole RHD385A;
  • 3.3 g/t Au over 11.5 m (ETW 9.1 m) in hole RHD385B.

Complementing the extension drilling program, two stepout holes were also drilled, approximately 500 m down plunge of the Robbin's Hill mineral resource. Very significantly, both holes returned over 45 gram-metre intercepts.

Key gold intercept:

  • 10.4 g/t Au over 5.5 m (ETW 4.5 m) in hole RHD351;
  • 9.5 g/t Au over 4.9 m (ETW 4.8 m) in hole RHD370.

High-resolution 3-D seismic survey

The company is presently completing a high-resolution 3-D seismic survey in the northern part of the Fosterville mining licence over the Robbin's Hill mineralization trend. The survey is the first of its kind to be undertaken in Victoria for gold exploration and will provide a high-resolution 3-D data set to a depth of over one kilometre for detailed planning of future of underground development.

The survey area is approximately six square kilometres with data collection along 12.5 m spaced east-west lines. Initial processing of the 3-D seismic data is expected to be complete by April, 2020.

Qualified persons

Troy Fuller, MAIG, director of exploration, Australia, is a qualified person as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this news release.

For further information regarding the company's 2018 mineral reserves and mineral resources estimates for the Fosterville gold mine, please refer to the company's news release dated Feb. 21, 2019, and the technical report entitled "Updated NI 43-101 Technical Report Fosterville Gold Mine In the State of Victoria, Australia," effective Dec. 31, 2018.

Drilling and underground sampling assay quality assurance/quality control

Kirkland Lake Gold has in place quality control systems to ensure best practice in drilling, sampling and analysis of drill core. All diamond drill hole collars are accurately surveyed using a Leica TS16 Total Station instrument and downhole deviations are measured by either electronic gyro or single-shot instruments.

Sampling consisted of diamond drill core that was either full core or half core sampled. Half-core samples were cut longitudinally in half with a diamond saw; one-half of the drill core was sent to an independent laboratory for analysis and the other drill core half retained for reference. Sample pulps are returned from the assay laboratory for reference and future geological or metallurgical studies. Drill core sample intervals vary between 0.3 and 1.2 m in length and were determined from logging of sulphide and visible gold to geological boundaries.

Samples containing VG or considered likely to contain VG were separated from sulphide gold samples and dispatched independently for assaying. At the laboratory, VG jobs were processed through a single pulverizer and material barren of gold (quartz wash) was crushed before and after each sample to minimize the potential for gold to contaminate successive samples.

Assays are either based on 25-gram or 40-gram charge fire assay. Mean grades are calculated using a variable lower-grade cut-off (generally two g/t Au) and maximum two m internal dilution. No upper gold grade cut is applied to the data. However, during future mineral resource studies the requirement for assay top cutting will be assessed.

The majority of samples were assayed at On Site Laboratories, an independent laboratory in Bendigo, Victoria. The facility is registered ISO 9001:2008 (CERT-C33510). Some samples were assayed at Bureau Veritas, Adelaide. This facility is registered ISO 9001:2015 (CERT RN -- 44 100 160145) and NATA accredited (1526).

About Kirkland Lake Gold Ltd.

Kirkland Lake Gold is a growing gold producer operating in Canada and Australia that produced 723,701 ounces in 2018 and is on track to achieve significant production growth over the next three years, including target production of 950,000 to one million ounces in 2019, 930,000 to 1.01 million ounces in 2020 and 995,000 to 1,055,000 ounces in 2021. The production profile of the company is anchored by two high-grade, low-cost operations, including the Macassa mine located in Northern Ontario and the Fosterville mine located in the state of Victoria, Australia. Kirkland Lake Gold's solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management and operational expertise.

    DRILL ASSAY INTERCEPTS FOR THE ROBBIN'S HILL DIAMOND DRILLING AT FOSTERVILLE GOLD MINE 
        (the results are later than those presented in the Dec. 31, 2018, technical 
     report on the mineral resources and mineral reserves of the Fosterville gold mine, 
                     dated April 1, 2019, and available on SEDAR)

Hole ID              From         To   Downhole interval   Estimated true width       Gold grade
                      (m)        (m)                 (m)                    (m)         (g/t Au)

                      Curie fault mineralization -- intercepts within the Curie mineral resource
RHD287             581.45     585.05                 3.6                    2.8              2.3
RHD299             372.75     373.80                1.05                    1.0              3.7
RHD300             603.80     613.00                 9.2                    5.5             10.5
RHD302             277.55     289.45                11.9                    6.1              5.1
RHD314             421.30     421.60                 0.3                    0.3              2.8
RHD315             450.90     456.30                 5.4                    4.6              1.9
RHD316             490.85     492.00                1.15                    1.0              7.6
RHD317             432.50     433.25                0.75                    0.6              0.5
RHD318             454.05     456.75                 2.7                    2.5              1.5
RHD320             525.00     530.65                5.65                    4.8              3.4
RHD321 (1)         559.00     567.80                 8.8                    7.2             11.7
including (1)      565.10     565.60                 0.5                    0.4             81.7
RHD322             569.60     572.70                 3.1                    2.7              8.8
RHD328             415.25     420.30                5.05                    3.8              2.4
RHD329             426.80     436.50                 9.7                    8.2              3.5
RHD331             475.00     486.10                11.1                   10.1             11.3
RHD332             501.70     504.10                 2.4                    1.9             11.0
RHD334A (1)        530.50     534.20                 3.7                    3.4             24.5
including (1)      530.50     531.45                0.95                    0.9             82.3
RHD335             372.50     374.00                 1.5                    1.3              3.1
RHD336             376.05     394.60               18.55                   17.1              3.3
RHD337             358.40     359.70                 1.3                    1.2              3.6
RHD338             385.30     393.00                 7.7                    7.5              3.3
RHD339             408.00     413.00                 5.0                    4.9              7.3
RHD340             412.40     423.50                11.1                    9.0              6.8
RHD341             464.25     466.70                2.45                    2.1              0.0
RHD342             444.40     448.20                 3.8                    3.5              2.0
RHD344             351.70     353.20                 1.5                    0.5              0.6
RHD345             366.60     368.50                 1.9                    1.7              3.2
RHD345A            366.50     369.20                 2.7                    2.5              2.8
RHD346             389.90     391.85                1.95                    1.8              3.2
RHD347             362.45     368.70                6.25                    6.0              7.0
RHD348             387.70     393.80                 6.1                    4.9              2.4
RHD352             432.40     433.20                 0.8                    0.7              1.2
RHD356             390.80     401.50                10.7                    9.1              4.7
RHD363             476.00     484.75                8.75                    7.8              5.5
RHD382             428.40     435.15                6.75                    5.8              4.1
RHD385C            418.00     424.00                 6.0                    5.2              4.4
RHD385E            418.35     419.95                 1.6                    1.3              3.6
                  Curie fault mineralization -- intercepts outside of the Curie mineral resource
RHD278             189.00     191.40                 2.4                    0.9              4.1
RHD295             596.60     598.60                 2.0                    1.4              4.6
RHD288             636.00     640.00                 4.0                    3.8              8.2
RHD289             649.60     652.00                 2.4                    1.5              3.4
RHD295A            602.10     609.55                7.45                    5.5              3.3
RHD296             633.00     636.15                3.15                    2.2              2.4
RHD300A            598.00     601.10                 3.1                    1.9              4.7
RHD312             528.00     530.30                 2.3                    2.1              4.5
RHD313             399.60     401.90                 2.3                    2.0              4.6
RHD319             494.40     496.30                 1.9                    1.6              1.8
RHD323             613.80     615.00                 1.2                    1.0              0.6
RHD324             637.95     639.50                1.55                    1.4              2.1
RHD325             665.10     669.10                 4.0                    3.6              6.3
RHD326             687.80     690.70                 2.9                    1.9              5.1
RHD333             518.35     523.00                4.65                    4.0              5.5
RHD343             526.00     528.05                2.05                    1.7              3.1
RHD349             459.00     462.50                 3.5                    2.8              2.0
RHD350             695.30     706.40                11.1                    4.7              2.5
RHD351             763.30     768.80                 5.5                    4.5             10.4
RHD353             553.65     555.75                 2.1                    1.6              1.0
RHD354             572.30     576.05                3.75                    3.5              2.4
RHD359             648.20     649.15                0.95                    0.7              2.3
RHD370             978.00     982.85                4.85                    4.8              9.5
RHD380             734.60     747.30                12.7                   10.2              6.5
RHD381             637.55     638.05                 0.5                    0.3              1.0
RHD383             438.80     449.75               10.95                   10.1              6.4
RHD384             656.90     661.00                 4.1                    2.5              3.3
RHD385A            435.00     453.70                18.7                    6.4              3.7
RHD385B            435.50     447.00                11.5                    9.1              3.3
       
(1) Visible gold observed in drill intercept.

We seek Safe Harbor.

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