Kirkland Lake Gold
Inc.
Kirkland Lake
Discovers New High Grade Zone 700 Feet Below SMC
Drill Hole 53-1280
Returns 1.00 Ounces of Gold Per Ton over 21.8 feet
Kirkland Lake Gold
Inc. (Kirkland Lake or the Company) is
pleased to announce an update on exploration drilling testing part of the South
Mine Complex (SMC). The SMC consists of 15 or more mineralized zones and is
actively being explored, developed and is now in production.
As one of many exploration programs
currently in progress, recent drilling to depth below the SMC, to test for
potential stacking of systems, has intersected a new mineralized zone which may
be associated with the SMC.
Drill hole
53-1280 proves there is potential for additional mineralization below the SMC
which today is largely between the -5000 and -5300 foot elevation. said Stewart Carmichael, Chief Exploration Geologist. He
added, At this point we’re not sure if this new
high grade zone is related to the SMC or perhaps something entirely new. The
mineralization in drill hole 53-1280 is hosted
entirely within porphyry and marked by a strong footwall mylonitic
break with minor pyrite and considerable visible gold. Additional
drilling along strike will commence later in this year to verify geometry and
continuity.
The highlights of this recent drilling
include:
Drill hole 53-1280 has intersected a new
mineralized zone and assayed 1.00 ounces of gold per ton (opt) uncut (0.71 opt
cut) over a core length of 21.8 feet. This intersection is located at the -6400
foot elevation or 1,100 feet below the -5300 level. The -5300 foot level is
currently the focus of development and mining for the SMC. (see
press release dated April 21, 2009)
The SMC has been extended to the -5600
elevation. If the new intersection in drill hole
53-1280 is related to the SMC, it would be 700 feet below the known depth
extend of the SMC. (see
figure 1 - To view figure 1 please click on the following link:
http://media3.marketwire.com/docs/kgi0429m.pdf).
Drill hole 53-1170 assayed 1.27 opt over a
core length of 1.2 feet and may have intersected the same zone. This drill hole
is located 450 feet west of hole 53-1280 and is the
only other drill hole within 900 feet either east or west of hole 53-1280 which
may have intersected the zone.
The figure referred to in this release may
be viewed at the Company’s website, www.klgold.com and will provide context to the above
statements. Figure 1 is a section showing the latest drilling results.
The following table summarizes the latest drilling
program. (Imperial values)
DRILL
HOLE No.
|
ZONE
|
FROM
(feet)
|
TO
(feet)
|
HOLE
DIP
(degrees)
|
AZIMUTH
(degrees)
|
ASSAY
(oz
per ton/feet)
|
53-1280
|
New Zone
Incl.
and
and
|
1,164.5
1,164.5
1,183.3
1,184.8
|
1,186.3
1,166.5
1,184.8
1,186.3
|
-73
|
328
|
1.00/21.8? CL=?? TW, Uncut
0.71/21.8? CL=?? TW, Cut
1.62/2.0? CL=?? TW, VG
7.29/1.5? CL=?? TW, VG
4.02/1.5? CL=?? TW, VG
|
53-1170
|
New Zone (?)
|
1,202.1
|
1,203.1
|
-62
|
275
|
1.27/1.2? CL=?? TW
|
TW = True Width CL = Core Length VG = Visible Gold CUT =
cut to 3.5 opt
??
TW = Unknown True Width
The following table summarizes the latest
drilling program results. (Metric values)
DRILL
HOLE No.
|
ZONE
|
FROM
(m)
|
TO
(m)
|
HOLE
DIP
(degrees)
|
AZIMUTH
(degrees)
|
ASSAY
(grams
per tonne/m)
|
53-1280
|
New Zone
Incl.
and
and
|
355.0
355.0
360.8
361.2
|
361.7
355.6
361.2
361.7
|
-73
|
328
|
34.29/6.7m CL=?? TW, Uncut
24.34/6.7m CL=?? TW, Cut
55.54/0.6m CL=?? TW, VG
249.94/0.4m CL=?? TW, VG
137.83/0.5m
CL=?? TW, VG
|
53-1170
|
New
Zone (?)
|
366.5
|
366.8
|
-62
|
275
|
43.54/0.3m
CL=?? TW
|
|
|
|
|
|
|
|
|
TW = True Width CL = Core Length VG = Visible Gold CUT =
cut to 120.0 grams/tonne
?? TW = Unknown True
Width
About the Company
The Company purchased the Macassa
Mine and the 1,500 ton per day mill along with four former producing gold properties ? Kirkland Lake, Teck-Hughes,
Lake Shore and Wright Hargreaves in December 2001. These
properties, which have historically produced some 22 million ounces of gold,
extend over seven kilometres between the Macassa Mine on the west and Wright Hargreaves on the east
and, for the first time, are being developed and explored under one owner. This
camp is located in the Abitibi Southern Greenstone Belt of Kirkland Lake,
Ontario, Canada.
The results of the Company’s underground diamond
drilling program have been reviewed, verified (including sampling, analytical
and test data) and compiled by the Company's geological staff (which includes a
qualified person, Stewart Carmichael P.Geo., the
Company’s Chief Exploration Geologist, for the purpose of National
Instrument 43-101, Standards of Disclosure for Mineral Projects, of the
Canadian Securities Administrators). Mr. Carmichael also supervised the
preparation of the information that forms the basis of the technical disclosure
in this release.
The Company has implemented a quality assurance and control (QA/QC)
program to ensure sampling and analysis of all exploration work is conducted in
accordance with the best possible practices. The drill core is sawn in half
with one half of the core samples shipped to the Swastika Laboratories in
Swastika, Ontario, Polymet Resources Inc. in Cobalt,
Ontario. The other half of the core is retained for future assay verification.
Other QA/QC includes the insertion of blanks, and the
regular re-assaying of pulps and rejects at alternate certified labs. Gold
analysis is conducted by fire assay using atomic absorption or gravimetric
finish. The laboratory re-assays at least 10% of all samples and additional checks
may be run on anomalous values.
The Company’s Macassa Mine Property is the subject of reserve reports
prepared by Glenn R. Clark, P.Eng., entitled:
Review of Resources and Reserves
of the New South Mine Complex, Macassa Mine, Kirkland
Lake, Ontario dated
August 25, 2007.
Review of Resources and Reserves
of Macassa Mine, Kirkland Lake, Ontario dated July 15, 2008.
Both of these technical reports have been filed on
SEDAR (www..sedar.com).
For further
information, please contact:
Brian Hinchcliffe
President
Phone: 1 705 567
5208
Fax: 1
705 568
6444
E-mail: bhinchcliffe@klgold.com
|
Scott Koyich
Investor Relations
Phone: 1 403 215 5979
E-mail:
info@klgold.com
|
Chelsea Hayes / Klara Kaczmarek
Pelham Public Relations
Phone: +44 20 7337 1524
E-mail:
chelsea.hayes@pelhampr.com
|
NOMAD: Panmure Gordon (UK)
Limited
Katherine Roe / Ashton Clanfield
Phone: +44 20 7459
5744
Email: katherine.roe@panmure.com
|
Website- www.klgold.com
|
Neither
the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has
reviewed and neither accepts responsibility for the adequacy or accuracy of
this news release.
Klara Kaczmarek
Account Manager
DL
+44 (0)20 7337 1524
M +44 (0)7859 048 228
Pelham
12 Arthur Street, London, EC4R 9AB
T: +44(0)20 7337 1500 F: +44(0)20 7337 1550
http://www.pelhampr.com/
|