Make Kitco Your Homepage

Kirkland Lake drills 1,297 g/t gold at Macassa

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Kirkland Lake Gold (TSX:KL) (NYSE:KL) today reported new high-grade drill results from 54 holes (20,773 m) of underground exploration drilling from the Macassa gold mine in Kirkland Lake, Ontario.

The company said that holes in the program were completed from new drill platforms located on the east side of the 5300 and 5800 levels and designed to confirm and expand Mineral Reserves and Mineral Resources in the SMC zone to the east as well as up and down dip.

According to the company's statement, a total of 16 of the new holes (5,597 m) of drilling from the new program were drilled to test the potential eastward extension of Mineral Resources and Mineral Reserves in the SMC. Key intercepts from the drilling include 589.5 gpt gold over 2.0 m, including 1,296.5 gpt gold over 0.9 m.

Drilling to test north of current Mineral Resource yielded a key intercept of 258.1 gpt over 2.0 m core length. Drilling along south margin of current SMC Mineral Reserves yielded a key intercept of 101.7 gpt over 2.0 m core length.

Kirkland Lake said that these intercepts are believed to be related to new high-grade lenses occurring along the east extension of the SMC East Trend. Exploration drilling at Macassa is currently continuing with eight drills underground and one drill on surface.

President and CEO Tony Makuch said, "Today's drilling results at Macassa highlight the extensive potential that exists to add new Mineral Reserves and Mineral Resources in the SMC, with high-grade intersections being reported outside of the existing deposit, to the east, south and north, as well as up and down dip. We continue to target approximately 250,000 m of total drilling at Macassa in 2021, with eight underground drills and one surface drill currently in operation."

Kirkland Lake Gold is a senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021. The production profile of the company is anchored by three high-quality operations, including the Macassa mine and Detour Lake mine, both located in Northern Ontario, and the Fosterville mine located in the state of Victoria, Australia.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.