Discovery Silver - Interim CEO, Tony Makuch.
Interim CEO, Tony Makuch.
Source: Melbourne Mining Club.
  • Kirkland Lake Gold (KL) has released the latest gold assays from its ongoing drill program at the Detour Lake property in Ontario
  • Thus far, the program has been focussed on the Saddle zone, which is located between the site’s main and west mining pits
  • Notably, the company intersected 1.1 grams per tonne gold across 142 metres, which included 9.39 grams per tonne over two metres
  • Similar grades and lengths were also intersected to the east and west of the zone
  • Once the program finalises, the company hopes to update and potentially expand the site’s existing mineral resource and reserve estimates
  • Kirkland Lake Gold (KL) is up 3.31 per cent and is trading at C$70.90 per share

Kirkland Lake Gold (KL) has released the latest gold assays from its ongoing drill program at the Detour Lake property in Ontario.

Thus far, the program has been focussed on the Saddle zone, which is located between the site’s main and west mining pits.

Notable results include 1.1 grams per tonne gold across 142 metres, which included 9.39 grams per tonne over two metres.

In separate hole to the west of the zone the company intersected five noteworthy assays, including 1.8 grams per tonne of gold across 58.5 metres and 2.39 grams per tonne gold across 29 metres, both with numerous higher internal grades.

Similar grades and lengths were also intersected east of the zone, including 1.42 grams per tonne across 78.0 metre, which contained a higher internal assay 8.54 grams per tonne over three metre.

In total, the program will cover 250,000 metres of exploration, which is expected to be completed by the end of next year. Once the program finalises, the company hopes to update and potentially expand the site’s existing mineral resource and reserve estimates.

Tony Makuch, President and CEO of Kirkland Lake Gold, said the results are extremely encouraging and support the view that there is a much larger deposit around the Main Pit and West Pit

“Upon completing the acquisition of Detour Gold Corporation at the end of January, we immediately focused in on the Saddle Zone as a high-potential target where there had been very limited previous drilling,” he said.

“Results from drilling in the Saddle Zone have included numerous intersections containing attractive grades over substantial widths, which highlight the potential for significant growth in open-pit Mineral Resources and also are supportive of a potential underground mining concept, which could add higher-grade mill feed to our production profile,” he added.

Kirkland Lake Gold (KL) is up 3.31 per cent and is trading at C$70.90 per share at 11:01am EDT.

More From The Market Online
GoGold - GoGold Resources' Parral operation in Mexico.

Three mining stocks that look cheap with gold at all-time highs

If you've noticed that gold mining stocks haven't been tracking gold's recent ascension to all-time highs, you aren't alone.

Pegmatite One options Dort Gold Property in B.C.

Pegmatite One (CSE:PGA) enters into an agreement with Bernie Kreft to earn a 100 per cent interest in the Dort project.

GoviEx Uranium must break ground in Niger to keep permit

GoviEx Uranium (TSXV:GXU) enters discussions with the Government of Niger to restart mining operations at its Madaouela project.

Klondike Gold kicks off property-wide Yukon exploration program

Klondike Gold (TSXV:KG) outlines the 2024 exploration and review of its Klondike District Property in Yukon’s Dawson mining district.