Kirkland Lake Gold (ASX:KLA) - President & CEO, Tony Makuch
President & CEO, Tony Makuch
Source: Mining News
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  • Kirkland Lake Gold (KLA) has received drill results from its Canadian Detour Lake mine in Northern Ontario
  • The results from 30 drill-holes are part of a program to collect information for an updated, and potentially expanded, mineral reserve and to support a new production plan which is expected early next year
  • Significant intercepts included 13.95g/t gold over 26.9 metres, including 108.94g/t gold over 2.8 metres as well as 17.11g/t gold over 2.4 metres from the central Saddle Zone
  • The company says the results confirm the potential for strong growth in mineral resources and mineral reserves to support future open-pit and underground mining
  • Kirkland shares are up 2.7 per cent trading at $46.22 cents each

Kirkland Lake Gold (KLA) has received drill results from its Canadian Detour Lake mine in Northern Ontario.

The drilling of 30 holes, totalling 21,928 metres, is part of a program to collect information for an updated, and potentially expanded, mineral reserve and support the completion of a new production plan, which is expected early next year.

Today’s results focussed on the Saddle Zone, an under-explored area located between the Main and West pit locations, which has no mineral reserves and only limited mineral resources.

Significant intercepts included 13.95 grams per tonne (g/t) gold over 26.9 metres, including 108.94 g/t gold over 2.8 metres as well as 17.11 g/t gold over 2.4 metres from the central Saddle Zone.

The company says results from this central zone confirm continuity of a
mineralised corridor, 800 metres along strike and 800 metres to depth, between the Main and West pits.

Over on the eastern portion of the Saddle Zone, some key intercepts were 1.09g/t gold over 57 metres, including 14.38g/t gold over two metres and 2.26 g/t gold over 27 metres, including 13.83 g/t gold over two metres.

Kirkland believes these results confirm continuity of mineralisation to the west and below the Main Pit reserve and resource pit shells.

Further, drilling below West Pit reserve shell intersected broad zones of mineralization extending to depth, and drilling to the west extends mineralisation 300 metres west of current mineral reserves.

President and CEO Tony Makuch commented on the results.

“We are increasingly confident that a large continuous deposit is situated along the Detour Mine Trend that extends from the Main Pit, through the Saddle Zone and continues beyond the West Pit location,” he continued.

“We are also extremely encouraged by the wide, high-grade intersections being reported at depth across the Saddle Zone, which confirm the potential for strong growth in mineral resources and mineral reserves in support of future open-pit and underground mining.”

The assay results were the fourth batch from the program, which is due to wrap up by the end of this year.

The company says re-interpretations and project improvements are underway with progress to date being tabled in a technical report expected by the end of this month.

The report is expected to include production results consistent with the company’s previously-released guidance of 680,000 to 720,000 ounces per year for the 2021 to 2023 period, with production to increase to approximately 800,000 ounces in 2025.

Kirkland says the new drilling results will be included in a separate mine plan and technical report to be issued early next year, which it believes will demonstrate the substantial value upside achieved through commitment to exploration drilling at Detour Lake Mine.

Kirkland shares are up 2.7 per cent trading at $46.22 cents each at 3:33pm AEDT.

KLA by the numbers
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