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Kirkland Lake Gold (TSE: KL) has released the results of 19 drill holes as well as assays for 15 historical unreported and reinterpreted holes from the Macassa mine in Ontario.
These results expand the South Mine Complex (SMC) by at least 75 metres to the east of the current resource limits and suggest a new corridor of high-grade mineralization at depth along the prospective Main Break structure.
The drill highlights include 2.1 metres of 43.1 g/t gold, 2.3 metres of 31 g/t gold and 4.2 metres of 19.3 g/t gold from the eastern potion of the SMC. These were drilled from the 5,300 level at the mine and step-out the limits of the SMC mineralization.
The company completed an additional hole to test the Main Break structure below a historical shaft – this intercept returned 2.4 metres of 141.1 g/t gold and 2 metres of 9.7 g/t gold near the 6,850 level.
The newly identified corridor remains open with additional development planned into this high-grade zone ahead of follow-up exploration
This intersection, within 650 metres of the #4 shaft being developed, is interpreted as part of a new corridor of high-grade mineralization along the Main Break, which extends over a length of 700 metres and is 300 metres high. Reinterpretation of historical unreported holes supports this hypothesis, with intercepts such as 2.1 metres of 27.7 g/t gold, 2 metres of 19.7 g/t gold and 2.4 metres of 18.5 g/t gold.
The newly identified corridor remains open with additional development planned into this high-grade zone ahead of follow-up exploration.
“We are extremely encouraged by the exploration results being announced today, which include the continued extension of the SMC as well as the identification of a large area of high-grade mineralization along the historic Main Break located in close proximity to the location of our new #4 shaft (currently under development),” Tony Makuch, the company’s president and CEO, said in a release.
“While the resurgence of mining in Kirkland Lake over the last 10-15 years has been driven by the discovery and growth of the SMC, we have always recognized that the Main Break remains a highly prospective target for additional exploration success and mineral resource growth.”
Makuch added that the Main Break has been the primary source of the 25 million oz. of historic gold production from the Kirkland Lake camp.
Exploration drilling at the Macassa mine has been temporarily suspended as a precautionary measure due to covid-19, as part of the company’s suspension of non-essential work.
The first phase of the #4 shaft is expected to be completed in the second quarter of 2022, with phase two following once production starts from phase one.
Kirkland Lake’s stock was trading up nearly 9% on the TSE at market close. The company has a C$16.2 billion market capitalization.
(This article first appeared in the Canadian Mining Journal)
