Kirkland Lake Gold Reports High-Grade Gold Mineralization at Macassa Mine
Kirkland Lake Gold Ltd. today announced the discovery of high-grade gold mineralization at four locations recently drillled at the South Mine Complex at the Macassa Mine in Kirkland Lake, Ontario.
“Today’s results highlight what we have often said, that while it is a historic mine, Macassa is a modern operation, with high-grade, low-cost production and substantial exploration potential that will support mining well into the future, " said Tony Makuch, President and CEO of Kirkland Lake Gold.
The company’s recent underground exploration drilling efforts utilized three drill rigs at these four locations at the South Mine Complex– SMC East, SMC West, Lower SMC and the Amalgamated Break. A total 29,643 m of underground drilling took place from 73 test holes in the east and west exploration drifts on the 5300-foot level (“5300 Level”) as well as from the 5700 Level Ramp Development (“5700 Ramp”). Underground drilling from the 5300 Level and 5700 Ramp will continue throughout the remainder of 2019.
KLG focused on four main target areas – SMC East, SMC West, Lower SMC and the Amalgamated Break.
SMC East
At the SMC East 62.7 g/t was found over 1.9 m. at test hole 53-3628. Test hole 53-3572 intersected 118.8 g/t over 2.0 m. While test hole 53-3623A had 73.8 g/t over 2.7 m . The results were derived from 14 drill holes and 6,940 m of drilling at the 5300 Level east exploration drift targeting the New South and Footwall zones.
SMC West
Results from SMC West returned several high-grade gold intercepts. Drill holes of note in this area include: 53-3697A with 436.9 g/t over 2.8 m at the New South Zone ; 53-3733 with 158.0 g/t over 2.4 m at the Lower SMC; 53-3695, 79.0 g/t over 1.0 m at the Lower SMC ; 53-3698, with 4,772.2 g/t over 2.0 m. and 53-3697A with 436.9 g/t over 2.8 m . A total of 11 drill holes for 5,396 m of drilling was recently completed at the 5300 Level west exploration drift targeting the New South and Lower SMC zones.
Lower SMC Zone
Drilling from Lower SMC zone had the following results: 2,458.6 g/t over 1.8 m at drill hole 57-625 ; 523.1 g/t over 2.0 m at drill hole 57-658 and 57-622 20.0 g/t over 3.8 m at drill hole 57-622 . A total of 40 drill holes for 15,990 m of drilling was completed from the 5700 Ramp development targeting the central part of the Lower SMC.
The drill program was designed to test outside of the current resource area. This drill program has been successful in expanding the Lower SMC zone in this area and shows potential for addition of resource ounces.
Amalgamated Break East and West
Drill holes of note in this area include: 57-704 (429.1 g/t over 2.7 m), 57-689 (164.8 g/t over 2.1 m ) and 57-703 (26.7 g/t over 1.2 m).
A total of 8 drill holes for 1,317 m of drilling was reported from the 5700 Ramp targeting the Amalgamated Break to the east. The Amalgamated Break has been largely untested and represents an important emerging exploration target which remains open and represents a highly prospective target area for the addition of new resource ounces.
Follow up drilling on the down dip and western extent of this mineralization will continue in Q2 and will continue throughout 2019 if warranted by further positive results.
"Early drilling in 2019 has successfully identified high-grade mineralization to the east, west and well below our existing Mineral Resource base in the SMC, "Makuch added. " In addition, areas running along the Amalgamated Break are extremely high-potential targets, the exploration of which will be enhanced immensely once we can drive underground exploration drifts off the #4 Shaft following its completion," Makuch said.
Construction of Shaft #4
Kirkland Lake Gold is constructing a , 21.5-foot diameter, concrete-lined shaft - Shaft #4 that will offer a number of important benefits to the mine, including: de-risking the operation; enabling more effective underground exploration to the east of the South Mine Complex; improving ventilation and general working conditions in the mine; and supporting higher levels of production and lower unit costs. The new four-compartment shaft will have a total hoisting capacity of 4,000 tonnes per day (ore and waste) and is an important component of the Company’s plan to increase production at Macassa with a goal of reaching over 400,000 ounces per year over the next five to seven years.
Construction of the shaft will be completed in two phases. The first phase will be to a depth of 5,450 feet and include a mid-shaft loading pocket. Completion of phase one is targeted for the second quarter of 2022 at a capital cost estimated at $240 million.
The Company’s exploration programs at Macassa are conducted under the supervision of Eric Kallio, P.Geo., Senior Vice President, Exploration.
Figure 1:
Figure 2:
Figure 3:
Figure 4:
For more information visit https://www.klgold.com
|