Kirkland Lake hits new visible gold intersections at Fosterville

Kirkland Lake Gold (TSX: KL; NYSE: KL; ASX: KLA) has intersected new visible gold bearing mineralization below the Swan zone, along the Cygnet Fault system, and to 1,000 metres downplunge of existing reserves along the Curie fault at Robbin’s Hill, both part of the company’s Fosterville mine in the state of Victoria, Australia. 

Drilling from the underground exploration drive hit this new mineralization downplunge from the Swan zone, 500 metres below the deepest proven and probable reserves. Highlights of drilling here, in the Lower Phoenix system, returned 51.7 grams gold per tonne over 2.6 metres and 9.6 grams gold per tonne over 6.4 metres.

Results from the Cygnet fault system, about 150 metres from the Swan zone footwall, also support the potential for reserve growth. Key intercepts included 158 grams gold per tonne over 1.8 metres; 142 grams gold per tonne over 2 metres; 49.4 grams gold per tonne over 4.1 metres, 27.5 grams gold per tonne over 6 metres; and 67.1 grams gold per tonne over 0.3 metre.

Expansion is planned at the Fosterville gold mine. Credit: Kirkland Lake Gold.

At the Curie fault at Robbin’s Hill, new mineralization with visible gold was drilled 1,000 metres downplunge from existing reserves. Here the intercepts were 81.3 grams gold per tonne over 2.6 metres and 23.1 grams gold per tonne over 2.2 metres.

This year’s drill campaign is designed to increase resources and reserves.

Resource numbers for the company’s Australian operations were updated at the end of last year. The proven and probable reserves stood at 4.7 million tonnes grading 13.1 grams gold per tonne within the measured and indicated resource of 35 million tonnes grading 3.2 grams gold per tonne. There were also inferred resources of 27.7 million tonnes grading 3.5 grams gold per tonne.

In the second quarter of this year, the Fosterville mine treated 170,315 tonnes of ore grading 29.2 grams gold per tonne and recovering 157,993 oz. of the yellow metal.