Kirkland Lake Gold Inc.

Published : April 29th, 2009

Discovers New High Grade Zone 700 Feet Below SMC

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Symbol ? TSX & AIM: KGI

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/

 

 

 

Kirkland Lake Gold Inc.

PRODUCER
CODE : KGI.TO
ISIN : CA49740P1062
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Kirkland Lake Gold is a gold producing company based in Canada.

Kirkland Lake Gold holds various exploration projects in Canada.

Its main assets in production are MACASSA MINE, MACASSA, KIRKLAND MINERALS MINE, KIRKLAND LAKE PROJECTS, SOUTH MINE COMPLEX, TECK HUGUES, LAKE SHORE and WRIGHT HARGREAVES in Canada.

Kirkland Lake Gold is listed in Canada and in United Kingdom. Its market capitalisation is CA$ 1.4 billions as of today (US$ 1.0 billions, € 910.6 millions).

Its stock quote reached its lowest recent point on October 22, 1999 at CA$ 0.03, and its highest recent level on September 14, 2016 at CA$ 11.58.

Kirkland Lake Gold has 116 815 952 shares outstanding.

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