Kirkland Lake Gold (ASX:KLA) - President & CEO, Tony Makuch
President & CEO, Tony Makuch
Source: The Melbourne Mining Club
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Kirkland Lake Gold (KLA) receives results from underground exploration drilling at the Macassa Mine in Kirkland Lake, Ontario
  • The company has received results from 54 holes that were drilled to confirm and expand mineral resources and reserves
  • Overall, up to 1688.2 grams of gold per tonne was intersected
  • According to President and CEO Tony Makuch, eight underground drills and one surface drill are in operation to target 250,000 metres of total drilling
  • Shares in Kirkland Lake are up 1.55 per cent and trading at $53.11 at 1:16 pm AEST

Kirkland Lake Gold (KLA) has received results from underground exploration drilling at the Macassa Mine in Kirkland Lake, Ontario.

The company has received results from 54 holes, for 20,773 metres, that were drilled to confirm and expand mineral resources and mineral reserves as well as test up and down dip.

Of the 54 holes, 16 were drilled, totalling 5597 metres, to test the potential extension of the mineral resources and mineral reserves in the South Mine Complex (SMC).

Best results include 589.5 grams of gold per tonne (g/t) over two metres including 1296.5g/t gold over 0.9 metres; and 25.1g/t gold over two metres including 99.7g/t gold over 0.5 metres.

Kirkland Lake believes these intercepts relate to new high-grade lenses along the east extension of the SMC East Trend.

A total of 15 holes, for 5987 metres, were then drilled to test the potential extension of mineralisation up dip.

Best results include 258.1g/t gold over two metres including 1688.2g/t gold over 0.3 metres; and 130.9g/t gold over two metres including 858.8g/t gold over 0.3 metres.

The final 23 holes were drilled to test the exploration potential and down-dip extension of the mineralisation.

Results include 38.9g/t gold over two metres including 153.6g/t gold over 0.3 metres; and 31.7g/t gold over 2.1 metres including 110.2g/t gold over 0.4 metres.

President and CEO Tony Makuch stated these results highlight the potential of Macassa.

“Today’s drilling results at Macassa highlight the extensive potential that exists to add new mineral reserves and mineral resources in the SMC, with high-grade intersections being reported outside of the existing deposit, to the east, south and north, as well as up and down dip,” Mr Makuch said.

“We continue to target approximately 250,000 metres of total drilling at Macassa in 2021, with eight underground drills and one surface drill currently in operation.”

Shares in Kirkland Lake were up 1.55 per cent and trading at $53.11 at 1:16 pm AEST.

KLA by the numbers
More From The Market Herald
Musgrave Minerals (ASX:MGV) - Managing Director, Rob Waugh

" Musgrave Minerals (ASX:MGV) intersects gold at West Island

A diamond drilling campaign at Musgrave Minerals’ (MGV) West Island tenement has intersected high-grade gold.
Cyprium Metals (ASX:CYM) - Executive Director, Barry Cahill

" Cyprium Metals (ASX:CYM) hits further copper at Nifty West

Cyprium Metals (ASX:CYM) has received further assays results from the Nifty West reverse circulation (RC) drilling…

" Brightstar Resources (ASX:BTR) continues to see high grade gold at Cork Tree

Brightstar Resources (ASX:BTR) continues to see high grade gold results at its Cork Tree Well (CTW),…

" OZ Minerals (ASX:OZL) posts record FY revenue of $2.1b

OZ Minerals (OZL) delivers on 2021 production and costs; record $2.1 billion revenue.