KIRKLAND LAKE, ONTARIO -- (Marketwired) -- 06/18/13 -- Kirkland Lake Gold Inc. (TSX: KGI)(AIM: KGI) (the Company), an operating and exploration gold company, is pleased to announce drilling results from its ongoing surface diamond drilling exploration program. This latest program included further drilling utilizing two drill rigs on the South Claims property (formerly held under a joint venture with Queenston Mining Inc. but which was acquired, along with the HM, North Amalgamated and other joint venture properties, from Queenston on August 30, 2012).
This first phase of the surface exploration program was designed to follow up on several high grade intercepts associated with the Amalgamated Break (see the Company's news releases dated February 28, 2012 and September 5, 2012) and to test for mineralization down to 1,000 feet below surface within the South Claims Property (See Figure 1). The Amalgamated Break has seen limited historic exploration east and west of the South Claims property and little historic drilling on this property.
Mr. Harry Dobson, Chairman commented, "We are very pleased with the results to date of this surface exploration program and are excited about the potential to add a reserve and resource calculation on ounces close to surface. The surface program will continue throughout the year as exploration continues both east and west from this area. It should be noted that none of the surface drilling results to date were included in our latest reserve and resource update."
This initial phase of drilling has been successful in further validating and expanding two previously discovered mineralized zones (now Zone 1 and Zone 2) as well as intersecting various sporadic high grade zones, including 16.75 ounces of gold per ton (opt) over 0.8 feet true width. The strongest alteration and highest grade intercepts in the explored area were found to be less than 400 feet below surface, although the drilling did find that the alteration and weak mineralization did extend below this elevation (See Figures 2 and 3).
The following are some of the highlights of the current exploration program:
-- Drill hole AB-13-14 intersected Zone 1 and returned 16.75 opt uncut over 1.0 foot of core length (0.8 feet true width). This intersection is only 117 feet below surface and contained significant visible gold.-- Drill hole AB-13-41 intersected Zone 2 and returned 4.68 opt uncut over 1.0 foot of core length (0.6 feet true width). This intersection is approximately 166 feet below surface and contained visible gold.-- Drill hole AB-13-10 intersected a new zone footwall to both Zone 1 and Zone 2 that returned 3.05 opt uncut over 1.0 foot of core length (true width unknown). This intersection is approximately 128 feet below surface and warrants follow-up drilling.-- Drill hole AB-13-17 intersected Zone 1 only 71 feet below surface and returned 0.97 opt over 2.4 feet of core length (1.5 feet true width) and represents one of the shallowest intersection to date on this zone.
This drill program is part of a much larger long term exploration initiative. The Company is currently operating three exploration drills on surface, two of which are exploring shallow targets and one that is drilling deeper grassroots targets. The mineralization in these zones is hosted primarily in sericitized sediments (generally greywacke) and is often characterized by broad zones of fine disseminated pyrite with or without narrow quartz stringers. The style of alteration and mineralization encountered appears to be different from that of both the '04 Break and SMC. The success of the first phase of this exploration program gives strong justification for the long term exploration plan to thoroughly explore this mineralized horizon east and west of the South Claims property across the Company's landholdings.