Drilling proves productive for Kirkland Lake Gold – by Staff (Northern Ontario Business – June 30, 2017)


Exploration program yields new gold systems at Macassa, Taylor Mines

An aggressive exploration program by Kirkland Lake Gold is producing positive results at its two cornerstone mines in northeastern Ontario. The company reported making some high-grade drill intercepts during its exploration campaign at the South Mine Complex (SMC) of the Macassa Mine in Kirkland Lake.

An underground drill program at the mine’s 5300 Level intersected some new gold mineralization to the east with the discovery of a hanging wall system that could expand the mine’s resources.

Some of the results include intercepts of 65.8 grams per tonne (g/t) over 2.1 metres and 160.3 g/t over 0.3 metres. Follow-up drilling is planned for later this year. Drill platforms have been set up on both the east and west ends of the 5300 Level to expand the resource laterally and at depth. Early results are suggesting there is a strong potential to do just that.

In a June 28 news release, company president-CEO Tony Makuch was pleased with the possibility of extending the longevity of Macassa. “The mine is our Canadian flagship operation with current reserves totalling 2.0 million ounces at an average grade of 20.8 grams per tonne, a large base of resources to support future growth, and expected 2017 production of over 190,000 ounces at operating cash costs of under $550 per ounce.

“Today’s drill results include the intersection of new high-grade mineralization with visible gold associated with the easterly strike extension of the SMC. Also encouraging is the continued expansion of the Lower SMC Zone, including the discovery of a new hanging wall gold system that returned multiple high-grade intersections and represents an important new target for future exploration drilling.”

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