- Kirkland Lake Gold (KL) announced results from 43 holes drilled along the Detour Mine Trend at the company’s Detour Lake property
- The company says the results highlight significant potential for mineral resource growth between the existing main pit and planned west pit location
- The new holes are the sixth batch of results from the recently announced exploration program
- Results from all new holes in the area are considered extremely encouraging
- Kirkland Lake Gold is down 3.03 per cent, trading at C$48.06 at 2:47 pm ET
Kirkland Lake Gold (KL) announced results from 43 holes drilled along the Detour Mine Trend at the company’s Detour Lake property.
The Toronto company says the results highlight significant potential for mineral resource growth between the existing main pit and planned west pit location.
The new holes are the sixth batch of results from the recently announced 270,000-metre exploration program, which the company is targeting for completion by the end of 2021.
Most of the new holes announced are from drilling in the Saddle Zone. The zone is located between the existing Main Pit and planned West Pit locations. The area has been underexplored with no Mineral Reserves and only limited Mineral Resources.
Several new holes are also being announced from the area west of the West Pit Mineral Reserves, which also contains limited past drilling.
“The new drill results announced today continue to support our view that a much larger deposit exists along the Detour Mine Trend than is currently included in Detour Lake Mine’s existing Mineral Reserves. The results include a significant number of new intersections with attractive grades and widths that provide additional very compelling evidence of a broad and continuous corridor of mineralization that extends from the Main Pit through the Saddle Zone to the planned West Pit location to a depth of at least 800 m below surface.
We also continue to expand the mineralized corridor west of the planned West Pit, where mineralization has been intersected over 400 m further west of existing Mineral Reserves, and to identify broad zones of higher-grade mineralization extending below the Main Pit and West Pit location pit shells that highlight the potential to add new open-pit, and potentially underground, Mineral Reserves and Mineral Resources at depth. Our 270,000 m drilling program at Detour Lake is continuing with 12 surface drills in operation, with the program advancing on track for completion by the end of the year.
The very encouraging exploration results we are consistently achieving at Detour Lake will be factored into a new life-of-mine plan and technical report, expected to be released in the first half of 2022, which we believe will include significant new value creation opportunities and will make further progress towards establishing Detour Lake as one of the world’s largest and most profitable gold mines,” said Kirkland Lake Gold President and CEO Tony Makuch.
Results from all new holes in the area are considered extremely encouraging as they continue to confirm the presence of a broad corridor of mineralization extending between the Main Pit and Mineral Reserve in the planned West Pit with the overall style of mineralization and gold tenor being very similar to that found in existing Mineral Reserves.
Kirkland Lake Gold is down 3.03 per cent, trading at C$48.06 at 2:47 pm ET.
