Discovery Silver - Interim CEO, Tony Makuch.
Interim CEO, Tony Makuch.
Source: Melbourne Mining Club.
  • Kirkland Lake Gold (KL) has intersected high-grade gold mineralisation at its newly acquired Detour Lake Gold Project in Ontario
  • Notably, at the Saddle Zone the company intersected 1.41 grams per tonne of gold over 121 metres, which contained a higher grade assay of 16.33 grams per tonne over 3.5 metres
  • Kirkland also intersected significant grades at the site’s 58 North and North Pit zones, including 14.6 grams per tonne over five metres and 1.10 grams per tonne over nine metres, respectively
  • The results are part of an extensive 250,000-metre program, which will help develop an updated mineral resource estimate for the site
  • Kirkland Lake Gold (KL) is up 2.88 per cent and is trading at C$55.35 per share

Kirkland Lake Gold (KL) has intersected high-grade gold mineralisation at its newly acquired Detour Lake Gold Project in Ontario.

The program has so far drilled just over 7,000 metres across 17 holes, focusing on the Saddle Zone, North Pit and 58 North targets on the property. The full program is expected to drill up to 250,000 metres of exploration by the end of next year.

Notably, at the Saddle Zone the company intersected 1.41 grams per tonne over 121 metres, which contained a higher-grade assay of 16.33 grams per tonne over 3.5 metres.

When collated with similar grade results from the site, the company believes the broad zones of mineralisation could reflect underground resources at depth.

Kirkland also intersected significant grades at the site’s 58 North and North Pit zones, including 14.6 grams per tonne over five metres and 1.10 grams per tonne over nine metres, respectively.

The assay at 58 North was intersected 175 metres from the area’s current known resource, suggesting hitherto undiscovered mineralisation.

President and CEO of Kirkland Lake Gold, Tony Makuch appears pleased with the results from the newly acquired property.

“A key driver in our decision to acquire Detour Gold was the potential to substantially increase Mineral Reserves at Detour Lake Mine in support of future production growth and improved unit costs.

“As with both our Macassa and Fosterville operations, Detour Lake has considerable exploration upside, and we are very encouraged by the potential for value creation from continued exploration success,” he said.

The company hopes the program could contribute positively to a new mineral resource estimate for the site. Kirkland acquired the property after purchasing the site’s previous operator, Detour Gold, in a multi-billion dollar deal late last year.

Kirkland expects to complete a further 70,000 metres before the end of the year, and the reminder of the program during 2021. 

Kirkland Lake Gold (KL) is up 2.88 per cent and is trading at C$55.35 per share at 12:53am EDT.

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