Kirkland Lake Gold Inc.

Published : June 15th, 2010

New Drilling Continues to Extend the South Mine Complex

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June 15, 2010                                                                                                                                                                                        

 

KIRKLAND LAKE GOLD INC.

 

New Drilling Continues to Extend the South Mine Complex;

Expansion More Than 300 Feet East of Previous Limit 

                                    

 

Kirkland Lake Gold Inc. (the Company), an operating and exploration gold mining company, is pleased to announce that recent underground exploration drilling has resulted in the further expansion of the South Mine Complex (SMC) on the Company?s 100% owned Macassa property. The SMC now consists of 25 or more mineralized zones, some of which are now in production while others are being explored and developed under the Company?s exploration and ore-body definition programs.

 

Recent drilling from one of several exploration programs currently in progress has extended the SMC 340 feet east of the previous known limits.

 

  • Drill hole 50-1242 has intersected the New South Zone and assayed 6.24 ounces of gold per ton (opt) uncut (4.82 opt cut) over a core length of 12.5 feet (estimated 3.0 feet true width). A second zone interpreted to represent a hanging wall zone to the New South Zone returned 2.10 opt over a core length of 3.9 feet (estimated 0.9 feet true width). The hanging wall intersection has effectively extended the South Mine Complex 340 feet further east than previously released drill hole 53-1506 which intersected the New South Zone and assayed 8.60 opt uncut, 3.50 opt cut over an estimated true width of 5.2 feet. (see the Company?s news release dated January 12, 2010)

 

  • Infill drilling, which forms part of this release, has shown that the intersection in drill hole 53-1506 (8.60 opt over 5.2? true width), previously interpreted to be footwall to the New South Zone, is reinterpreted as being on the New South Zone itself as it begins a northerly change in strike.

 

  • In addition, drill hole 50-1153 has extended the New South Zone 160 feet down dip from the above previously released drill hole 53-1506 and assayed 0.77 opt over a true width of 5.5 feet. 

 

  • Drill holes 53-1520 to 53-1524 all intersected the structure controlling the New South Zone but returned negligible assays. These holes likely lie outside the east-trending flat plunge line for the zone.

 

  • Both hanging wall and footwall mineralization to the New South Zone has been intersected in many of the recent drill results.

 

?Since January we have extended the South Mine Complex more than 500 feet east of the previously defined limit. We now have numerous drill targets in this area of the Macassa Mine to test over the next year including the New South Zone and the recently discovered Lower SMC or `08 Break.? said Stewart Carmichael, Chief Exploration Geologist.  He added, ?We also plan to increase exploration drilling from 8 shifts per week to 14 shifts per week upon completion of the new dry facility, which will allow for a 56% increase in exploration drilling starting in July.?

 

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. Figures 1, 2 and 3 are plan views showing the latest drilling results on the New South Zone and subsidiary footwall and hanging wall intersections.

 

 The following table summarizes the latest drilling results (Imperial values)

 

 

DRILL

HOLE No.

 

ZONE

 

FROM

(feet)

 

TO

(feet)

HOLE

DIP

(degrees)

 

AZIMUTH

(degrees)

ASSAY

(oz per ton/feet)

50-1242

New South HW

New South

 

Incl.

and

and

and

and

2820.6

2658.2

 

2658.2

2661.7

2663.4

2664.2

2668.7

2824.5

2670.7

 

2660.2

2663.4

2664.2

2666.7

2670.7

-14.5

098

2..10/3.9? CL=0.9? TW, VG, Tell

6..24/12.5? CL=3.0? TW, Uncut

4..82/12.5? CL=3.0? TW, Cut**

7..46/2.0? CL=0.5? TW, VG, Tell

5..59/1.7? CL=0.4? TW

28.79/0.8? CL=0.2? TW, VG, Tell

7..19/2.5? CL=0.6? TW, VG, Tell

6..09/2.0? CL=0.5? TW, VG, Tell

50-1153

New South

Incl.

and

and

New South FW

 

Incl.

and

2667.5

2680.7

2682.2

2688.0

2609.5

 

2609.5

2618.4

2689.0

2682.2

2683.2

2689.0

2620.6

 

2610.9

2619.4

-15.8

104.7

0..77/21.5? CL=5.5? TW

2..16/1.5? CL=0.4? TW, VG

2..00/1.0? CL=0.3? TW, VG

4..82/1.0? CL=0.3? TW, VG, Tell

1..28/11.1? CL=2.8? TW, Uncut

1..09/11.1? CL=2.8? TW, Cut*

3..02/1.4? CL=0.4? TW

5..60/1.0? CL=0.3? TW, VG, Tell

50-1153W1

New South

2258.0

2259.7

-15.8

104.7

0..10/1.7? CL=TW N/C

53-1502

New South HW

New South

363.6

394.4

366.0

396.4

-70

304

0..01/2.4? CL=TW NC

0..20/2.0? CL= TW N/C

53-1503

New South

Incl.

New South FW

445.8

449.0

479.1

450.0

450.0

483.0

-28

320

0..43/4.2? CL=3.3? TW

1..17/1.0? CL=0.8 ?TW, VG

0..03/3.9? CL=TW N/C

53-1504

New South HW

 

New South

Incl.

New South FW

401.8

 

419.2

419.2

433.2

403.3

 

426.2

420.7

435.1

-43

331

4..19/1.5? CL=1.2? TW, Uncut

3..5/1.5? CL=1.2? TW, Cut*

1..70/7.0? CL=6.4? TW

4..22/1.5? CL=1.4? TW, VG

0..20/1.9? CL=TW NC

53-1505

New South HW

New South

394.0

447.0

395.0

450.5

-78

006

0..65/1.0? CL=TW NC

0..19/3.5? CL=TW NC

53-1519

New South

Incl.

New

New South FW

476.5

477.7

500.0

513.5

479.1

479.1

503.0

520.0

-54

010

1..11/2.6? CL=1.9? TW

1..87/1.4? CL=1.0? TW

0..74/3.0? CL=??? TW

0..07/6.5? CL=TW NC

53-1520

New South HW

New South

488.5

507.4

491.0

508.4

-28

335

0..02/2.5? CL=TW N/C

0..05/1.0? CL=TW N/C

53-1521

New South HW

New South

494.0

531.0

498.2

533.0

-18

320

0..04/4.2? CL=TW N/C

0..04/2.0? CL=TW N/C

53-1522

New South HW

New South

562.7

588.2

564.8

590.0

-18

335

0..07/2.1? CL= TW N/C

0..04/1.8? CL=TW N/C

53-1523

New South HW

New South

478.0

639.7

479.0

641.2

-17

346

0..04/1.0? CL= TW N/C

0..10/1.5? CL= TW N/C

53-1524

New South

424.9

425.9

-26

350

0..02/1.0? CL= TW N/C

53-1561

New South HW

New South

Incl.

and

380.0

410.0

410.0

413.1

381.0

415.4

411.0

415.4

-75

331

0..02/1.0? CL= TW NC

1..12/5.4? CL=5.1? TW

1..65/1.0? CL=0.9? TW, VG

1..91/1.0? CL=0.9? TW, VG, Tell

53-1562

New South HW

New South

Incl.

and

and

New South FW

471.2

493.7

493.7

496.7

504.0

526.5

475.2

508.0

495.7

498.7

506.2

530.5

-43

357

NSV

2..39/14.3? CL=9.8? TW

2..14/2.0? CL=1.4? TW, VG, Tell

3..21/2.0? CL=1.4? TW

6..92/2.2? CL=1.5? TW, VG, Tell

0..38/4.0? CL=1.4? TW

53-1563

New South HW

 

Incl.

and

New South

Incl.

432.0

 

432.0

435.5

459.7

460.8

441.0

 

433.0

437.5

470.0

462.5

-46

353

1..92/9.0? CL=6.5? TW, Uncut

1..20/9.0? CL=6.5?TW, Cut*

2..53/1.0? CL=0.7? TW, VG, Tell

6..74/2.0? CL=1.4? TW, VG, Tell

0..99/10.3? CL=7.4? TW

2..28/1.7? CL=1.2? TW

                  

TW = True Width, CL = Core Length, VG = Visible Gold, Tell = Tellurides, *Cut = cut to 3.5 opt,

 **Cut = cut to 7.2 opt  ?? TW = Unknown True Width, TW NC = True Width Not Calculated

 

The following table summarizes the latest drilling results (Metric values)

 

 

DRILL

HOLE No.

 

ZONE

 

FROM

(m)

 

TO

(m)

HOLE

DIP

(degrees)

 

AZIMUTH

(degrees)

ASSAY

(grams per tonne/m)

50-1242

New South HW

New South

 

Incl.

and

and

and

and

859.7

810.2

 

810.2

811.3

811.8

812.0

813.4

860.9

814.0

 

810.8

811.8

812.0

812.8

814.0

-14.5

098

72.00/1.2m CL=0.3m TW, VG, Tell

213.94/3.8m CL=0.9m TW, Uncut

165.26/3.8m CL=0.9m TW, Cut**

255.77/0.6m CL=0.2m TW, VG,

191.66/0.5m CL=0.1m TW

987.09/0.2m CL=0.1m TW, VG,

246.52/0.8m CL=0.2m TW, VG,

208.80/0.6m CL=0.2m TW, VG,

50-1153

New South

Incl.

and

and

New South FW

 

Incl.

and

813.1

817.1

817.5

819.3

795.4

 

795.4

798.1

819.6

817.5

817.8

819.6

798.8

 

795.8

798.4

-15.8

104.7

26.40/6.5m CL=1.7m TW

74.06/0.4m CL=0.1m TW, VG

68.57/0.3m CL=0.1m TW, VG

165.26/0.3m CL=0.1m TW, VG, Tell

43.89/3.4m CL=0.9m TW, Uncut

37.37/3.4m CL=0.9m TW, Cut*

103.54/0.4m CL=0.1m TW

192.00/0.3m CL=0.1m TW, VG, Tell

50-1153W1

New South

688.2

688.8

-15.8

104.7

3..43/0.6m CL=TW N/C

53-1502

New South HW

New South

110.8

120.2

111.6

120.8

-70

304

0..30/0.8m CL=TW NC

6..86/0.6m CL= TW N/C

53-1503

New South

Incl.

New South FW

135.9

136.9

146.0

137.2

137.2

147.2

-28

320

14.74/1.3m CL=1.0m TW

40.11/0.3m CL=0.2m TW, VG

1..02/1.2m CL=TW N/C

53-1504

New South HW

 

New South

Incl.

New South FW

122.5

 

127.8

127.8

132.0

122.9

 

129.9

128.2

132.6

-43

331

143.66/0.4m CL=0.4m TW, Uncut

120.0/0.4m CL=0.4m TW, Cut*

58.29/2.1m CL=2.0m TW

144.69/0.4m CL=0.4m TW, VG

6..86/0.6m CL=TW NC

53-1505

New South HW

New South

120.1

136.2

120.4

137.3

-78

006

22.29/0.3m CL=TW NC

6..51/1.1m CL=TW NC

53-1519

New South

Incl.

New

New South FW

145.2

145.6

152.4

156.5

146.0

146.0

153.3

158.5

-54

010

380.06/0.8m CL=0.6m TW

64.11/0.4m CL=0.3m TW

25.37/0.9m CL=??m TW

2..40/2.0m CL=TW NC

53-1520

New South HW

New South

148.9

154.7

149.7

155.0

-28

335

0..69/0.8m CL=TW N/C

1..71/0.3m CL=TW N/C

53-1521

New South HW

New South

150.6

161.8

151.9

162.5

-18

320

1..37/1.3m CL=TW N/C

1..37/0.7m CL=TW N/C

53-1522

New South HW

New South

171.5

179.3

172.2

179.8

-18

335

2..40/0.7m CL=TW N/C

1..37/0.5m CL=TW N/C

53-1523

New South HW

New South

145.7

195.0

146.0

195.4

-17

346

1..37/0.3m CL=TW N/C

3..43/0.4m CL=TW N/C

53-1524

New South

129.5

129.8

-26

350

0..69/0.3m CL=TW N/C

53-1561

New South HW

New South

Incl.

and

115.8

125.0

125.0

125.9

116.1

126.6

125.3

126.6

-75

331

0..69/0.3m CL=TW NC

38.40/1.6m CL=1.6m TW

56.57/0.3m CL=0.3m TW, VG

65.49/0.3m CL=0.3m TW, VG, Tell

53-1562

New South HW

New South

Incl.

and

and

New South FW

143.6

150.5

150.5

151.4

153.6

160.5

144.8

154.8

151.1

152.0

154.3

161.7

-43

357

No Significant Values

81.94/4.3m CL=3.0m TW

73.37/0.6m CL=0.4m TW, VG, Tell

110.06/0.6m CL=0.4m TW

237.26/0.7m CL=0.5m TW, VG, Tell

13.03/1.2m CL=0.4m TW

53-1563

New South HW

 

Incl.

and

New South

Incl.

131.7

 

131.7

132.7

140.1

140.5

134.4

 

132.0

133.4

143.3

141.0

-46

353

65.83/2.7m CL=2.0m TW, Uncut

41.14/2.7m CL=2.0m TW, Cut*

86.74/0.3m CL=02m TW, VG, Tell

231.09/0.7m CL=0.4m TW, VG, Tell

33.94/3.2m CL=2.3m TW

78.17/0.5m CL=0.4m TW

 

 

 

 

 

 

 

 

 

TW = True Width, CL = Core Length, VG = Visible Gold, Tell = Tellurides *CUT = cut to 120.0 grams/tonne, **Cut = 247.0 grams/tonne ?? TW = Unknown True Width, TW NC = True Width Not Calculated

 

 

About the Company

 

The Company purchased the Macassa Mine and the 1,450 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 to the west and Wright Hargreaves to the east and, for the first time, are being developed and explored under one owner. This camp is located in the Southern Abitibi 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 Swastika Laboratories in Swastika, Ontario, or to 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 Macassa Mine, Kirkland Lake, Ontario dated July 15, 2008.

?         Review of Resources and Reserves of Macassa Mine, Kirkland Lake, Ontario dated July 16, 2009

 

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

 

Lindsay Carpenter

Director of Investor Relations

Phone: 416-840-7884

E-mail: lcarpenter@klgold.com

 

 

Pelham Bell Pottinger

Klara Kaczmarek

Phone: +44 207 861 3883

E-mail: Kkaczmarek@pelhambellpottinger.co.uk

 

Guy Wilkes

Ocean Equities Ltd.

Phone +44 207 786 4370

Phone: +44 207 786 4370

E-mail:  guy.wilkes@oceanequities.co.uk

 

NOMAD: Panmure Gordon (UK) Limited

Dominic Morley / Callum Stewart.

Phone: +44 207 459 3600
E-mail: dominic.morley@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.

 

Cautionary Note Regarding Forward Looking Statements

This Press Release may contain statements which constitute ?forward-looking, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words ?may?, ?would?, ?could?, ?will?, ?intend?, ?plan?, ?anticipate?, ?believe?, ?estimate?, ?expect? and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company?s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company?s Annual Information Form and quarterly and annual Management?s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

 

 

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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9/15/20152015 Precious Metals Summit Colorado
9/14/2015Fiscal 2015 Q1 Results Conference Call
9/14/2015Kirkland Lake Gold Reports Positive Earnings and Free Cash F...
9/3/2015Kirkland Lake Gold Announces a Board & Executive Management ...
8/12/2015Kirkland Lake Gold Announces Record Gold Production of 41,48...
7/20/2015Kirkland Lake Gold Provides Update on Cancellation of Admiss...
7/15/2015Kirkland Lake Gold Provides Three Year Production Guidance f...
7/9/2015George Ogilvie, President & CEO discusses KGI’s F2015 Year E...
7/9/2015Kirkland Lake Gold Reports Fiscal 2015 Fourth Quarter and Ye...
7/8/2015F2015 Q4 and Year End Earnings Call
4/15/2015Kirkland Lake Gold Inc.: Cancellation of Admission for Tradi...
4/13/2015Kirkland Lake Gold Provides Update on Reserves and Resources...
4/13/2015Provides Update on Reserves and Resources, With an Increase ...
4/8/2015Kirkland Lake Gold Purchases a 0.5% NSR Royalty on the HM Cl...
4/8/2015Purchases a 0.5% NSR Royalty on the HM Claim within the Comp...
4/1/2015Kirkland Lake Gold Announces Normal Course Issuer Bid for Co...
3/18/2015Kirkland Lake Gold Announces Record Production of 16,485 Oun...
3/11/2015Kirkland Lake Gold Reports Fiscal 2015 Third Quarter Results...
3/11/2015Reports Fiscal 2015 Third Quarter Results With YTD Free Cash...
3/11/2015Kirkland Lake Gold Reports Fiscal 2015 Third Quarter Results...
2/23/2015Kirkland Lake Gold Intersects '04 Break Mineralization; High...
2/23/2015Intersects '04 Break Mineralization; Highest Elevation to Da...
2/23/2015Kirkland Lake Gold Intersects '04 Break Mineralization; High...
2/20/2015Kirkland Lake Gold Finalizes Appointment of Eric Sprott as C...
2/18/2015Kirkland Lake Gold Closes C$35 Million Bought Deal Financing
2/9/2015Kirkland Lake Gold Announces Fiscal 2015 Third Quarter Produ...
2/9/2015Announces Fiscal 2015 Third Quarter Production Results and D...
2/9/2015Kirkland Lake Gold Announces Fiscal 2015 Third Quarter Produ...
1/28/2015Kirkland Lake Gold Announces Increase of Bought Deal Financi...
1/26/2015Kirkland Lake Gold Appoints Eric Sprott as Chairman of the B...
1/26/2015Kirkland Lake Gold Appoints Eric Sprott as Chairman of the B...
1/20/2015Kirkland Lake Gold Continues Exploration Success in the Sout...
1/20/2015Kirkland Lake Gold Continues Exploration Success in the Sout...
12/8/2014Kirkland Lake Gold Reports Positive Earnings and Free Cash F...
12/8/2014Kirkland Lake Gold Reports Positive Earnings and Free Cash F...
11/12/2014Kirkland Lake Gold Fiscal 2015 Second Quarter Production Res...
11/12/2014Kirkland Lake Gold Fiscal 2015 Second Quarter Production Res...
10/23/2014Kirkland Lake Gold Announces Results of Annual Meeting of Sh...
10/23/2014Kirkland Lake Gold Announces Results of Annual Meeting of Sh...
10/6/2014Kirkland Lake Gold Announces Management Appointment
10/29/2013Enters Into Royalty Transaction With Franco-Nevada
9/19/2013SMC Continues to Extend East; Drill Hole 53-2291 Assays 13.2...
6/18/2013Surface Drilling Returns 16.75 Ounces Per Ton Gold Over 0.8 ...
5/21/2013/December 31st Reserve & Resources Update; Significant Incre...
5/14/2013Fiscal 2013 Fourth Quarter and Full Year Production Results
2/11/2013Announces Third Quarter Production Results
2/4/2013Fiscal 2013 Production Guidance Maintained and Service Cage ...
10/26/2012Results of Annual Meeting
10/16/2012Announces $60 Million Private Placement of Convertible Deben...
9/5/2012High-Grade Gold Mineralization Intersected in Surface and Un...
8/30/2012Closes Acquisition of Queenston Mining's 50% Stake in Former...
7/19/2012Announces Closing of $57.5 Million Private Placement of Conv...
6/28/2012Announces $50 Million Private Placement of Convertible Deben...
5/29/2012Announces Power Resumption
2/28/2012-Queenston Joint Venture Reports New Drill Results Including...
1/16/2012Directorate Change
10/5/2011Fiscal 2012 First Quarter Financial Results; Gold Production...
9/7/2011-Queenston Joint Venture Report New Drill Results; 0.44 Ounc...
8/10/2011Announces Production for its Fiscal 2012 First Quarter
5/24/2011Announces Record April, Fourth Quarter & Full Year Gold Prod...
7/10/2009Obstruction in Main Pastefill Borehole impacts Gold Producti...
5/14/2009April Gold Production of 8,916 Ounces Sets Monthly Record
1/15/2009THIRD TRANCHE OF SHARES ISSUED & CASH PAYMENT MADE UNDER SOU...
9/24/2008Kirkland Lake Gold: New Director appointed to the Board
8/22/2008RESEARCH NOTE
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TORONTO (KGI.TO) (KGILF)
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