In a news release, Canadian-gold producer Kirkland Lake Gold Inc. (KL:TSX; KL:NYSE) reported new drill results from the Macassa Mine in Kirkland Lake, Ontario. The data provided covered 9,522 meters of underground exploration drilling at 19 holes and 29,085 meters from 15 holes that were previously drilled and unreported that were re-interpreted.
The company stated that "all of the new holes being reported were collared within two platforms located on the east portion of the 5300 Level, with 18 of the 19 new holes (8,760 m) being focused on confirmation and extension of the South Mine Complex (SMC) to the east." The firm listed complete detailed drill results and featured results from a few of the best findings, which included 43.1 g/t over 2.1m from hole 53-4016 and 31.0 g/t over 2.3m from hole 53-4052.
The company highlighted a key intercept at drill hole 53-4052, intersecting 141.1 g/t over 2.4m and 9.7 g/t over 2.0m near the 6,850 Level, 300 meters below the deepest level off the Kirkland Minerals shaft. The firm advised that that the high-grade intersection is located within 650 meters of its new #4 Shaft location, which is presently being developed and is believed to be part of a newly identified corridor of high-grade mineralization 700 meters long and 300 meters high along the Main Break.
The company's President and CEO Tony Makuch commented, "We are extremely encouraged by the exploration results being announced today, which include the continued expansion of the SMC as well as the identification of a large area of high-grade mineralization along the historic Main Break located in close proximity to the location of our new #4 Shaft (currently under development). We have a truly unique and very exciting opportunity at Macassa to add substantial new Mineral Resources and, ultimately, Mineral Reserves through the continued growth of the SMC, the identification of high-grade mineralization along the largely unexplored Amalgamated Break, and also by drilling along the Main Break, which accounts for most of the 25 Moz of historic production in the Kirkland Lake camp."
"The fact that the new corridor of high-grade mineralization along the Main Break is located close to planned infrastructure adds significantly to the value creating potential of today's results," Makuch added.
The firm advised that exploration drilling has been temporarily stopped at Macassa under the firm's COVID-19 health and safety protocols, but stated that exploration drilling will commence with up to six underground and surface drills when full operations resume.
Kirkland Lake Gold is a gold mining company that operates mines in Canada and Australia. The firm indicated that in 2019 it produced in aggregate a total of 974,615 ounces of gold. The company is actively developing and operating at three locations, which include both the Macassa and Detour Lake mines in northern Ontario and the Fosterville Mine, located in the state of Victoria, Australia.
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