Total
0
Shares
Kirkland Lake Gold (ASX:KLA) - CEO, Tony Makuch
CEO, Tony Makuch
Sourced: Mining Journal
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Kirkland Lake Gold (KLA) receives further results from the Detour Lake property in northern Ontario
  • Results have been received from nearly 26,000 metres of the 270,000-metre drilling program aiming to update the mineral reserve estimate
  • Best results come from the central portion of the Saddle Zone where up to 32.8g/t gold was intersected
  • Drilling is continuing at Detour Lake with 12 rigs currently working to complete the 270,000-metre program by the end of 2021
  • Kirkland Lake is down 1.48 per cent on the market with shares trading at $51.97 at 12:21 pm AEST

Kirkland Lake Gold (KLA) has received further results from the Detour Lake property in northern Ontario.

Detour Lake lies near the historical Detour Lake open-pit mine which produced 1.8 million ounces of gold between 1983 and 1999.

Kirkland Lake has received results from an additional 43 holes, for 25,847.8 metres, making this the sixth batch of results received.

This drilling forms part of a 270,000-metre program that is being undertaken to collect information for an updated and possibly expanded mineral reserve estimate.

The majority of these results come from the Saddle Zone which has been underexplored and has no mineral reserves.

A total of 12 holes, for 6291 metres, were drilled in the eastern portion of the Saddle Zone to target areas along the Detour Mine Trend (DMT).

Best results include 2.15 grams of gold per tonne (g/t) over 45 metres, 1.72g/t gold over 80.4 metres and 1.63g/t gold over 38.6 metres.

Eight holes, for 5576 metres, were then drilled in the central portion of the Saddle Zone to target the DMT between the Main Pit and mineral reserves in the planned West Pit.

Results include 7.19g/t gold over 17 metres including 32.8g/t gold over 3.2 metres; and 2.3g/t gold over 21 metres including 18.47g/t gold over two metres.

A total of 11 holes, for 6140.8 metres, were drilled in the western portion of the Saddle Zone to target the area immediately west of the future West Pit.

Results include 2.7g/t gold over 23.9 metres including 22.75g/t gold over 2.5 metres; and 1.96g/t gold over 33 metres including 19.02g/t gold over two metres.

Eight holes, for 5925 metres, were then drilled below the planned West Pit to target the DMT between 200 and 600 metres below surface.

Best results include 6g/t gold over 14 metres including 25.02g/t gold over three metres; and 4.94g/t gold over 16.8 metres including 8.6g/t gold over 9.2 metres.

Finally, four holes, totalling 1915 metres, were drilled in the West Pit extension area to target areas of the DMT west of the mineral reserve.

Results include 1.63g/t gold over 32 metres including 13.35g/t gold over two metres; and 1.06g/t gold over 25.4 metres.

CEO and President Tony Makuch said the results support the company’s view that a larger deposit exists.

“The new drill results announced today continue to support our view that a much larger deposit exists along the Detour Mine Trend than is currently included in Detour Lake Mine’s existing mineral reserves,” Mr Makuch commented.

“The results include a significant number of new intersections with attractive grades and widths that provide additional very compelling evidence of a broad and continuous corridor of mineralisation that extends from the Main Pit through the Saddle Zone to the planned West Pit location to a depth of 800 metres below surface.”

Drilling is continuing at Detour Lake with 12 rigs currently working to complete the 270,000-metre program by the end of 2021.

Kirkland Lake was down 1.48 per cent on the market with shares trading at $51.97 at 12:21 pm AEST.

KLA by the numbers
More From The Market Herald
Kingwest Resources (ASX:KWR) - CEO, Ed Turner

" Kingwest Resources (ASX:KWR) secures $4m for Goongarrie

Kingwest Resources (KWR) has completed a bookbuild for a strongly supported $4 million placement.

" Metals Australia (ASX:MLS) extends Manindi’s pegmatite corridor to over 3km

Metals Australia (MLS) has identified additional lithium-bearing pegmatites at the Manindi project in the Murchison region of Western Australia.

" Castillo Copper (ASX:CCZ) completes sampling at Litchfield

Castillo Copper (CCZ) has completed a thorough surface sampling program at the Litchfield Lithium Project in the Northern Territory.
Inca Minerals (ASX:ICG) - Managing Director, Ross Brown

" Inca Minerals (ASX:ICG) sees potential for hydrothermal system at NE Area

Inca Minerals (ICG) has received assay results for the second and third holes of its ongoing drilling program at the Riqueza project in