Kirkland Lake cuts porphyry south of Main Break

Underground drilling by Kirkland Lake Gold (KGI-T) has turned up three new gold prospects at the Macassa mine in northern Ontario. All lie south of the 4700 level and were cut by hole 47-994B.

The first prospect began at a depth of 798 ft. and averaged 2.94 oz. per ton over 5.5 ft. The grade drops to 1.79 oz. when assays are capped at 3.5 oz.

Mineralization is characterized by visible gold and pyrite in a silicified tuff.

The second is 561.5 ft. farther down-hole and is characterized by massive pyrite in quartz veining. The 2.7-ft. mineralized interval averaged an uncut 0.77 oz.

Finally, an additional 1,000 ft. down-hole, 62.2 ft. of silicified feldspar porphyry ran 0.16 oz. The interval includes 3 ft. at an uncut 1.89 oz. and is characterized by pyrite and molybdenum.

Kirkland Lake Gold notes that the hole bottomed just below the high-grade section of the mineralized porphyry. Accordingly, it is sending a more powerful drill to deepen the hole.

Relative to the 4700-Level, the three prospects are 800-1,617 ft. south of the main workings and bring to four the total number found in the hangingwall. The fourth is 200 ft. north of the recent three.

Aside from Lake Shore, which was the richest, no mine in the historic Kirkland Lake camp extended workings south of the Main Break. Furthermore, all the gold in the main structure is believed to be related to a large porphyry found below that mine, so Kirkland Lake thinks it might have found a lookalike.

In August, Kirkland boosted proven and probable reserves at Macassa to 1.05 million tonnes running 0.47 oz. gold. Also increased were measured and indicated resources, to 3.3 million tons grading 0.32 oz.

Macassa also hosts an inferred resource of 558,900 tons grading 0.35 oz. Mining resumed in October, beginning near the high-grade 4247 stope.