03:12:07 EDT Thu 01 Oct 2020
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Kirkland Lake Gold Ltd
Symbol KL
Shares Issued 277,244,914
Close 2020-06-29 C$ 53.84
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Kirkland drills 3.5 m of 16.33 g/t Au at Detour Lake

2020-06-29 21:16 ET - News Release

Mr. Anthony Makuch reports


Kirkland Lake Gold Ltd. has released results from 17 holes (7,176 metres) of drilling at the Detour Lake property. Of the 17 holes, three holes (2,520 m) were drilled west of the Main Pit in the Saddle Zone area, five holes (1,860 m) were drilled at the North Pit area and nine holes (2,796 m) were drilled at the 58 North area. The Main Pit, West Pit and North Pit are located along the Detour mine trend (DMT), immediately north of the Sunday Lake deformation zone (SLDZ). The 58 North zone (58 N) is located eight kilometres to the south near the Lower Detour deformation zone (LDDZ). These holes represent the first to be drilled as part of a 250,000-metre exploration program to be completed by the end of 2021, which is designed mainly to collect information for an updated and potentially expanded mineral reserve and mine production plan.

A key focus of the company's initial exploration program at the Detour Lake mine is drilling around the Main Pit, where the company is targeting significant growth in mineral reserves. Initial drilling in the Saddle zone near the Main Pit intersected broad zones of mineralization with attractive open-pit grades, as well as intervals of significantly higher grades at depth, which support the potential for a future underground mining operation below the Main Pit (still to be evaluated). The Saddle zone is situated between the Main Pit and West Pit location and is an area that is underexplored, and has no current mineral reserves and only limited mineral resources. Drilling at the North Pit area, located northwest of the Main Pit, intersected attractive open-pit grades and extended known mineralization to depth and along strike of the current mineral resources. 58 N is an additional exploration target, which the company is investigating as a potential future underground mining operation. New drilling at 58 N intersected high-grade mineralization up to 175.0 metres west of the current mineral resource.

Tony Makuch, president and chief executive officer of Kirkland Lake Gold, commented: "A key driver in our decision to acquire Detour Gold was the potential to substantially increase mineral reserves at Detour Lake mine in support of future production growth and improved unit costs. Our exploration program has definitely been impacted by COVID-19, and we would like to acknowledge the hard work of our exploration team in both ramping up our drilling program and in generating encouraging results in a very short period of time. Virtually all holes reported today intersected significant mineralization. The Saddle zone is a high-potential target in between the Main and West pits, where there has been very little previous drilling. Today's drill results highlight the potential for significant growth in open-pit mineral resources at attractive grades in the gap between the two pits, and also include intervals of high-grade mineralization at depth that are supportive of a potential underground mining concept. We also succeeded in extending mineralization at the North Pit location, to the northwest of the Main Pit, another important open-pit target. At 58 N, we intersected high-grade mineralization up to 175.0 m from the current mineral resource. These results are very encouraging as 58 N has the potential to be a stand-alone underground mining operation that could significantly enhance average grades by adding high-grade mineral reserves to our current open-pit production profile.

"Looking forward, exploration work continues to ramp up, with two drills currently working, with that number to increase to four drills by August and six drills by October. Drilling is currently focused on the Saddle zone. We plan to complete about 70,000 m of drilling between now and the end of the year, with the remainder of the exploration program to be completed in 2021. As with both our Macassa and Fosterville operations, Detour Lake has considerable exploration upside, and we are very encouraged by the potential for value creation from continued exploration success."

Saddle zone -- Main Pit area

Drilling at the Saddle zone targeted areas along the DMT between the Main Pit and the West Pit location, where there is little to no past drilling, no current mineral reserves and very limited mineral resources. Significant results from the drilling include: 1.41 grams per tonne over 121.0 m, including 16.33 g/t over 3.5 m from hole DLM-20-004, 1.23 g/t over 138.0 m, including 4.11 g/t over 23.9 m, 1.77 g/t over 37.0 m, including 14.73 g/t over 3.0 m, and 3.09 g/t over 18.0 m from hole DLM-20-008, and 1.25 g/t over 65 m and 1.43 g/t over 17.0 m from hole DLM-20-006. Hole DLM-20-004 is located immediately east of the West Pit location and intersected mineralization between 400 and 600 m below surface and 200 m below the current resource pit shell. Hole DLM-20-008 was drilled 350 m to the east of DLM-20-004 near the west limit of the Main Pit and intersected mineralization between 150 and 400 m below surface, where there is no previous drilling and no current mineral reserves. Preliminary observations from the drilling indicate that the mineralization within the holes is hosted mainly by broad zones containing variable amounts of quartz and pyrite, which are controlled by east-west-trending, moderately north-dipping folds and shear structures, similar to those found at the Main and West pits. Based on the new results, the company believes there is excellent potential to identify further extensions to mineralization, including to depth, and for the addition of mineral resources and mineral reserves between the Main and West pits, for both open-pit and, potentially, underground mining, through additional drilling.

58 North zone

Drilling at 58 N targeted the west portion of the current mineral resource in this area, which totals 2.9 million tonnes grading 5.8 g/t for 534,000 ounces in the indicated category and 1.0 million tonnes grading 4.35 g/t for 136,000 ounces in the inferred category. Significant results from the drilling include 14.6 g/t over 5.0 m from hole DLD-20-504, 11.7 g/t over 13.0 m from hole DLD-20-503, 5.9 g/t over 8.0 m from hole DLD-20-499 and 8.6 g/t over 3.0 m from hole DLD-20-496. Holes DLD-20-496 and DLD-20-499 were designed to infill the west portion of the current mineral resource and confirm previous results, while holes DLD-20-503 and DLD-20-504 tested the main structure between 150 and 175 m to the west and are among the highest-grade results from the 58 N area to date. Based on new data from the program, 58 N lies to the south of the LDDZ and at the intersection of a westerly trending structural zone with a feldspar porphyry stock. The new intersections being reported today all appear to lie on the westerly extension of the structural zone from 58 N and are defined by a series of thinner units from the same feldspar porphyry. The area to the west of the new drilling remains open for further testing and expansion.

North Pit area

Drilling at the North Pit was completed in the central part of the area and with holes targeting approximately 150 m below surface and 75 m below the current mineral reserve and mineral resource. Significant results from the program include 1.10 g/t over 9.0 m and 1.82 g/t over 3.0 m from hole DLM-20-003 and 1.76 g/t over 5.0 m and 1.80 g/t over 4.0 m in hole DLM-20-001. Based on information to date, mineralization at the North Pit location has similar characteristics to the Main and West pits, but lies along a separate structural trend located approximately 500 m to the north (North Walter Lake trend), where there has been substantially less drilling, both along strike and to depth. Given the limited drilling in this area, the potential to add new mineral resources with further exploration success is considered excellent.

Exploration work at Detour Lake is continuing with two drills currently working, targeting to complete at least 75,000 metres by the end of 2020. The company plans to increase the number of drills to four by August and to six by October.

Qualified persons

The company's exploration programs at Detour Lake are conducted under the supervision of Eric Kallio, PGeo, senior vice-president, exploration. Mr. Kallio, Keith Green, PGeo, director, exploration, Canada, and Adree DeLazzer, exploration manager, Detour Lake mine, are qualified persons for the purpose of National Instrument 43-101 (Standards of Disclosure for Mineral Projects), of the Canadian Securities Administrators, and have reviewed and approved the scientific and technical information in this news release.

Quality assurance/quality control

The company has implemented a quality assurance and control (QA/QC) program to ensure sampling and analysis of all exploration work are conducted in accordance with best practices. Samples are logged and sampled in a secure facility at the Detour mine site and under supervision of qualified geologists. NQ sized core is sawn in half with one-half of the core prepared for shipment, and the other half of core retained for future assay verification. Preparations for shipment include: placing individual samples with corresponding sample tag into sealed plastic bags, which are in turn placed into labelled and zip-tied rice bags, and subsequently placed onto pallets, shrink wrapped and couriered to ALS Laboratories in Timmins, Ont., by Manitoulin Transport. Sample preparation is completed by ALS Laboratories in Timmins then sent to its Vancouver lab for analysis.

Assaying of the samples is completed using fire assay techniques with samples fewer than 10 grams per tonne being analyzed with atomic absorption (AA) and samples greater than 10 grams per tonne with gravimetric finish. Selected high-grade samples are also analyzed using the screen metallics procedure. Internal laboratory checks conducted by ALS include the insertion of one blank, two certified reference standards and three duplicates for every 78 samples (per fusion furnace). ALS Laboratories is certified by the Standards Council of Canada (SCC), which conforms with CAN-P-1579 and for the accreditation of mineral analysis testing laboratories and CAN-P-4E ISO/IEC 17025 (General Requirements for the Competence of Testing and Calibration Laboratories).

About Kirkland Lake Gold Ltd.

Kirkland Lake is a growing gold producer operating in Canada and Australia that produced 974,615 ounces in 2019. The production profile of the company is anchored by three high-quality operations, including the Macassa mine and the Detour Lake mine, both 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 expertise.

                                         DETOUR LAKE MINE -- DRILL RESULTS
Target           Hole No.                      From (m)              To (m)          Length (m)             Au g/t

Saddle Area      DLM-20-004                      123.0               143.0                17.0                0.74
                 and                             188.0               193.0                 5.0                1.73
                 and                             288.0               290.0                 2.0                3.52
                 and                             526.0               559.0                33.0                0.65
                 and                             602.2               617.0                14.8                1.03
                 and                             676.0               797.0               121.0                1.41
                 incl.                           713.5               717.0                 3.5               16.33
                 incl.                           765.0               772.0                 7.0                5.32
                 and                             792.0               797.0                 5.0                2.55
                 DLM-20-006                       56.0                73.0                17.0                1.56
                 incl.                            61.0                65.0                 4.0                4.30
                 and                             293.0               297.0                 4.0                1.18
                 and                             533.0               550.0                17.0                1.43
                 and                             604.0               609.0                 5.0                0.85
                 and                             638.0               652.0                14.0                0.42
                 and                             707.0               772.0                65.0                1.25
                 incl.                           723.0               731.0                 8.0                4.15
                 incl.                           758.0               764.0                 6.0                3.66
                 DLM-20-008                       52.0                57.8                 5.8                0.89
                 and                             129.0               132.0                 3.0                1.67
                 and                             151.0               289.0               138.0                1.23
                 incl.                           201.0               224.9                23.9                4.11
                 incl.                           204.0               205.0                 1.0               15.35
                 incl.                           223.0               224.9                 1.9               18.98
                 and                             355.0               360.0                 5.0                1.48
                 and                             382.0               384.0                 2.0                3.87
                 and                             403.0               440.0                37.0                1.77
                 incl.                           433.0               436.0                 3.0               14.73
                 and                             614.0               614.6                 0.6               13.65
                 and                             884.0               902.0                18.0                3.09
                 incl.                           901.0               902.0                 1.0               16.35
North Pit        DLM-20-001                      189.0               194.0                 5.0                1.76
                 and                             288.0               292.0                 4.0                1.80
                 and                             394.6               398.0                 3.4                1.47
                 DLM-20-002                      127.0               132.0                 5.0                0.89
                 and                             160.0               169.0                 8.2                0.50
                 DLM-20-003                      154.0               157.0                 3.0                1.82
                 and                             235.0               238.0                 3.0                1.67
                 and                             250.0               258.0                 8.0                0.96
                 and                             274.0               283.0                 9.0                1.10
                 DLM-20-005A                     307.0               322.0                15.0                0.77
                 DLM-20-007                      168.0               173.0                 5.0                0.77
                 and                             290.0               296.0                 6.0                0.71
58 North         DLD-20-496                      304.5               308.0                 3.5                 3.7
                 and                             318.0               340.6                22.6                 1.7
                 incl.                           336.0               339.0                 3.0                 8.6
                 DLD-20-497                      243.0               246.0                 3.0                 3.6
                 and                             272.0               276.0                 4.0                 3.0
                 DLD-20-498                      187.2               202.7                15.5                 2.1
                 incl.                           190.8               193.0                 2.2                 5.2
                 incl.                           197.0               202.7                 5.7                 3.0
                 DLD-20-499                      185.0               193.0                 8.0                 5.9
                 incl.                           189.0               193.0                 4.0                10.5
                 DLD-20-500                      207.7               221.0                13.3                 1.5
                 incl.                           214.0               221.0                 7.0                 2.1
                 DLD-20-501                      160.0               168.0                 8.0                 2.7
                 incl.                           162.0               167.0                 5.0                 3.7
                 DLD-20-502                      105.0               124.6                19.6                 2.2
                 incl.                           105.0               109.0                 4.0                 4.7
                 incl.                           118.0               124.6                 7.0                 2.6
                 DLD-20-503                      198.0               211.0                13.0                11.7
                 incl.                           198.0               206.0                 8.0                18.1
                 incl.                           202.0               203.0                 1.0                46.4
                 incl.                           204.0               205.0                 1.0                40.4
                 DLD-20-504                      214.0               219.0                 5.0                14.6

1. Assays are reported uncut.
2. True widths are unknown at this time, and intervals are reported using core lengths intersected in the holes.

We seek Safe Harbor.

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