Press release from Marketwire
Kirkland Lake Gold Inc.: Latest High Grade Intersections on the South Mine Complex, New Footwall Zone Discovered to the East
Tuesday, November 15, 2011
Kirkland Lake Gold Inc.: Latest High Grade Intersections on the South Mine Complex, New Footwall Zone Discovered to the East02:00 EST Tuesday, November 15, 2011KIRKLAND LAKE, ONTARIO--(Marketwire - Nov. 15, 2011) -Kirkland Lake Gold Inc. (TSX:KGI)(AIM:KGI), an operating and exploration gold company, is pleased to announce the discovery of a new footwall zone located on the eastern portion of the South Mine Complex (SMC). In addition, the Company has encountered new intersections as part of a follow-up drill program testing mineralization on the Lower D North Zone, also part of the SMC, as detailed in the Company's press release dated January 12, 2010 which highlighted drill hole 53-1520 which returned 6.14 ounces of gold per ton (opt) over a core length of 13.7 feet. "We are encouraged to see the development of new mineralized zones on the South Mine Complex, demonstrating that new resources continue to be found eight years after the SMC was discovered." said Stewart Carmichael, Chief Exploration Geologist. "We now have our full complement of nine exploration rigs working on the property including three surface drills and six underground rigs." The highlights of this recent drilling include:The new footwall zone located on the eastern portion of the SMC is located 250 feet below the New South Zone and between elevations -5756 and -5952. The zone dips 33-39 degrees south and extends 65 feet east onto the HM claim. This zone remains open to the east, up dip and for 250 feet to the west. Intersections from this footwall zone include:drill hole 53-1796 which returned 5.64 opt (uncut) or 2.59 opt cut over a true width of 2.8 feet; drill hole 53-1797 which returned 8.55 opt (uncut) or 3.50 opt cut over a true width of 0.9 feet; and drill hole 53-1684 which returned 0.98 opt over a true width of 1.0 feet. These three holes are in addition to previously released drill hole 53-1823 which returned 3.18 opt over a true width 1.2 feet. (see press releases dated September 11, 2011.)Four new intersections on the Lower D North Zone indicate a shoot of mineralization over a strike length of 450 feet between the -5610 and -5700 foot elevations. These intersections are in addition to previously released drill hole 53-1520 which returned 6.14 opt uncut (2.06 opt cut) over a core length of 13.7 feet or 12.5 feet true width. The plunge of this mineralization appears to be near horizontal. There is some potential to extend this zone in the dip component as well as along strike to the west. New mineralized zones were also intersected during the course of this program including drill hole 53-1796 which assayed 0.93 opt over a core length of 4.7 feet. Three additional new zones were intersected in drill hole 53-1824 including: 2.48 opt over a core length of 1.0 feet, 7.79 opt over a core length of 1.0 feet and 0.25 opt over a core length of 7.5 feet. New mineralized zones intersected in drill hole 53-1738 assayed 0.74 opt over a core length of 9.3 feet and drill hole 53-1791 assayed 1.81 opt over a core length of 1.0 feet. Additional close spaced drilling will be required to further determine the geometry of these new zones. Most of the drill holes detailed in this release intersected the New South Zone as well. These intersections are outlined in the following tables, however, the intersections are, for the most part, within existing resource areas and should be considered as being "definition" intersections and will have minimal impact on year end resource calculations.Kirkland Lake Gold currently has nine exploration drills working on the land holdings including three surface and six underground drills. Exploration footage completed to date is 128,000 feet compared to 58,000 feet during the same period last year. The figures referred to in this release may be viewed at the Company's website, www.klgold.com and will provide context to the above statements. Figure 1 is a general plan view showing new intersections detailed in this release. Figure 2 is detailed plan view showing intersections on the Lower D North. Figure 3 is a detailed plan view showing intersections on the New South Footwall Zone.The following table summarizes the latest drilling results on the Lower D North Zone. (Imperial values) DRILL HOLE No.ZONEFROM (feet)TO (feet)HOLE DIP (degrees)AZIMUTH (degrees)ASSAY(oz per ton/feet)53-1520 (previously released)Lower D North968.0981.7-283356.14/13.7' CL=12.5' TW, Uncut2.06/13.7' CL=12.5' TW Cut** Incl.968.0970.031.55/2.0' CL=1.8' TW, VG and970.0972.3 4.60/2.3' CL=2.1' TW, VG and979.0980.0 4.02/1.0' CL=0.9' TW, VG 53-1521Lower D North983.5990.0-183200.12/6.5' CL=TW Not Calculated53-1575New South400.7402.0-303270.40/1.3' CL=TW Not CalculatedLower D North--No Significant Values53-1675New South596.0597.0-213235.00/1.0' CL= 0.6' TW, VGLower D North1,073.01,087.20.03/14.2' CL= TW Not Calculated53-1676Lower D North939.8940.6-353230.43/1.0' CL=1.0' TW53-1677Lower D North936.4937.4-353080.24/1.0' CL=TW Not Calculated53-1738New South425.5430.0-213400.65/4.5' CL=3.3' TWNew Zone 818.8 828.1 0.74/9.3' CL=??' TWIncl. 825.3 826.9 1.35/1.6' CL=??' TWLower D North 896.8 904.7 0.30/7.9' CL=5.8' TW Incl. 903.0 904.7 0.67/1.7' CL=1.3' TW53-1741New South434.4439.2-243271.17/4.8' CL=3.5' TW Incl. 437.2 439.2 2.36/2.0' CL=1.5' TW, VGLower D North 1,015.7 1,018.9 0.03/3.2' CL= TW Not Calculated53-1791New Zone968.1969.1-213461.81/1.0' CL=??' TWLower D North 994.6 1,001.8 0.33/7.2' CL=5.4' TW53-1792Lower D North1020.41025.3-153400.03/4.0' CL=TW Not Calculated53-1936Lower D NorthNo Significant Values53-1937Lower D North948.7954.5-283171.21/5.8' CL=5.5' TW Incl. 951.5 954.5 1.63/3.0' CL=2.8' TW53-1892 New South (?) 532.7 539.2 -22 002 1.00/6.5' CL=??' TWLower D North 1,151.9 1,158.3 1.93/6.4' CL=4.5' TW, Uncut 1.73/6.4' CL=4.5' TW, Cut** Incl. 1,151.9 1,153.6 4.27/1.7' CL=1.2' TW, VGand1,157.31,158.33.00/1.0' CL=0.7' TW, VGTW = True Width, CL = Core Length, VG = Visible Gold, Tell = Tellurides, *Cut = cut to 7.2 opt, HW= Hanging Wall, **Cut = cut to 3.5 opt, ?? TW = Unknown True WidthThe following table summarizes the latest drilling results on the New South East Footwall Zone. (Imperial values) DRILL HOLE No.ZONEFROM (feet)TO (feet)HOLE DIP (degrees)AZIMUTH (degrees)ASSAY(oz per ton/feet)53-1823 (previously released)New South530.9557.0-610140.43/26.1' CL=23.0' TW Incl. 530.9 532.3 3.42/1.4' CL=1.2' TW and 554.7 556.0 2.45/1.3' CL=1.1' TWFootwall East 809.0 810.3 3.18/1.3' CL=1.2' TW, VG53-1796New Zone750.3755.0-413480.93/4.7' CL=??' TWIncl. 750.3 751.3 2.02/1.0' CL=??' TWand 751.3 753.0 1.09/1.7' CL=??' TWFootwall East 808.7 811.7 5.64/3.0' CL=2.8' TW, Uncut 2.59/3.0' CL=2.8' TW, Cut** Incl. 808.7 809.7 6.69/1.0' CL=0.9' TW, Tell and 809.7 810.7 9.46/1.0' CL=0.9' TW, Tell53-1797New South655.0664.0-533520.21/9.0' CL=6.9' TWFootwall East 787.8 788.8 8.55/1.0' CL=0.9' TW, Uncut 3.50/1.0' CL=0.9' TW, Cut**53-1679Footwall East-35337No Significant Values53-1684New South508.5519.5-473411.22/11.0' CL=8.7' TW, Uncut 0.83/11.0' CL=8.7' TW, Cut* Incl. 518.5 519.5 11.58/1.0' CL=0.8' TW, VG, TellFootwall East 770.7 771.7 0.98/1.0' CL=1.0' TW53-1824New South524.0525.8-740141.54/1.8' CL=3.0' TWNew 909.0 910.0 2.48/1.0' CL=??' TWNew 1,078.0 1,079.0 7.79/1.0' CL=??' TWNew 1,157.5 1,164.7 0.25/7.2' CL=??' TWFootwall East No Significant Values53-1685Footwall East-58341No Significant Values53-1690Footwall East-66345Assays Pending53-1524Footwall East-26350No Significant AssaysTW = True Width, CL = Core Length, VG = Visible Gold, Tell = Tellurides, *Cut = cut to 7.2 opt, HW= Hanging Wall, **Cut = cut to 3.5 opt, ?? TW = Unknown True WidthThe following table summarizes the latest drilling results on the Lower D North Zone. (Metric values) DRILL HOLE No.ZONEFROM (m)TO (m)HOLE DIP (degrees)AZIMUTH (degrees)ASSAY(grams per tonne/m)53-1520 (previously released)Lower D North295.0299.2-28335210.52/4.2m CL=3.8m TW, Uncut 70.63/4.2m CL=3.8m TW Cut** Incl. 295.0 295.7 1,081.72/0.7m CL=0.5m TW, VG and 295.7 296.4 157.72/0.7m CL=0.6m TW, VG and 298.4 298.7 137.83/0.3m CL=0.3m TW, VG53-1521Lower D North299.8301.8-183204.11/2.0m CL=TW Not Calculated53-1575New South 122.1122.5-3032713.7/0.4m CL=TW Not CalculatedLower D North - - No Significant Values53-1675New South181.7182.0-21323171.43/0.3m CL=0.2m TWLower D North 327.1 331.4 1.03/4.3m CL= TW Not Calculated53-1676Lower D North286.5286.7-3532314.72/0.2m CL=0.3m TW53-1677Lower D North285.4285.7-353088.23/0.3m CL=TW Not Calculated53-1738New South129.7131.1-2134022.29/1.4m CL=1.0m TWNew Zone 249.6 252.4 25.37/2.8m CL=??m TWIncl. 251.6 252.0 47.31/0.4m CL=??m TWLower D North 273.3 275.6 10.29/2.3m CL=1.8m TW Incl. 275.2 275.6 22.97/0.4m CL=0.4m TW53-1741New South132.4133.9-2432740.11/1.5m CL=1.1m TW Incl. 133.3 133.9 80.91/0.6m CL=0.5m TW, VGLower D North 309.6 310.6 1.03/1.0m CL= TW Not Calculated53-1791New Zone295.1295.4-2134662.06/0.3m CL=??m TWLower D North 303.1 305.3 11.31/2.2m CL=1.6m TW53-1792Lower D North311.0312.5-153401.03/1.5m CL=TW Not Calculated53-1936Lower D NorthNo Significant Values53-1937Lower D North289.2290.9-2831741.49/1.7m CL=1.7m TW Incl. 290.0 290.9 55.89/0.9m CL=0.9m TW53-1892New South (?)162.4164.3-2200234.29/1.9m CL=??m TWLower D North 351.1 353.0 66.17/1.9m CL=1.4m TW, Uncut 59.31/1.9m CL=1.4m TW, Cut** Incl. 351.1 351.6 146.40/0.5m CL=0.4m TW, VG and 352.7 353.0 102.86/0.3m CL=0.2m TW, VGTW = True Width, CL = Core Length, VG = Visible Gold, Tell = Tellurides, *Cut = cut to 246.9 g/t, HW= Hanging Wall, **Cut = cut to 120.0 g/t, ?? TW = Unknown True WidthThe following table summarizes the latest drilling results on the New South East Footwall Zone. (Metric values) DRILL HOLE No.ZONEFROM (m)TO (m)HOLE DIP (degrees)AZIMUTH (degrees)ASSAY(grams/tonne/m)53-1823 (previously released)New South161.8169.8-6101414.74/8.0m CL=7.0m TW Incl. 161.8 162.2 117.3/0.4m CL=0.4m TW and 169.1 169.5 84.00/0.4m CL=0.3m TWFootwall East 246.6 247.0 109.0/0.4m CL=0.4m TW, VG53-1796New Zone228.7230.1-4134831.89/1.4m CL=??m TWIncl. 228.7 229.0 69.26/0.3m CL=??m TWand229.0 229.5 37.37/0.5m CL=??m TWFootwall East 246.5 247.4 193.37/0.9m CL=0.9m TW, Uncut 88.80/0.9m CL=0.9m TW, Cut** Incl. 246.5 246.8 229.37/0.3m CL=0.3m TW, Tell and 246.8 247.1 324.35/0.3m CL=0.3m TW, Tell53-1797New South199.6202.4-533527.20/2.8m CL=2.1m TWFootwall East 240.1 240.4 293.15/0.3m CL=0.3m TW, Uncut 120.00/0.3m CL=0.3m TW, Cut**53-1679Footwall East-35337No Significant Values53-1684New South155.0158.3-4734141.83/3.3m CL=2.7m TW, Uncut 28.46/3.3m CL=2.7m TW, Cut* Incl. 158.0 158.3 397.03/0.3m CL=0.2m TW, VG Footwall East 234.9 235.2 33.60/0.3m CL=0.3m TW53-1824New South159.7160.3-7401452.80/0.6m CL=0.9m TWNew 277.1 277.4 85.03/0.3m CL=??m TWNew 328.6 328.9 267.09/0.3m CL=??m TWNew 352.8 355.0 8.57/2.2m CL=??m TWFootwall East No Significant Values53-1685Footwall East-58341No Significant Values53-1690Footwall East-66345Assays Pending53-1524Footwall East-26350No Significant AssaysTW = True Width, CL = Core Length, VG = Visible Gold, Tell = Tellurides, *Cut = cut to 246.9 g/t, HW= Hanging Wall, **Cut = cut to 120 g/t, ?? TW = Unknown True WidthAbout the CompanyThe Company purchased the Macassa Mine and the 1,450 ton per day mill along with four former producing gold properties – Kirkland Lake, Teck-Hughes, Lake Shore and Wright Hargreaves – in December 2001. These properties, which have historically produced some 22 million ounces of gold, extend over seven kilometres between the Macassa Mine to the west and Wright Hargreaves to the east and, for the first time, are being developed and explored under one owner. This camp is located in the Southern Abitibi Greenstone Belt of Kirkland Lake, Ontario, Canada.The results of the Company's underground diamond drilling program have been reviewed, verified (including sampling, analytical and test data) and compiled by the Company's geological staff (which includes a 'qualified person', Stewart Carmichael P.Geo., the Company's Chief Exploration Geologist, for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators). Mr. Carmichael also supervised the preparation of the information that forms the basis of the technical disclosure in this release.The Company has implemented a quality assurance and control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. The drill core is sawn in half with one half of the core samples shipped to Swastika Laboratories in Swastika, Ontario, or to SPJ Labs in Lively, Ontario. The other half of the core is retained for future assay verification. Other QA/QC includes the insertion of blanks, and the regular re-assaying of pulps and rejects at alternate certified labs. Gold analysis is conducted by fire assay using atomic absorption or gravimetric finish. The laboratory re-assays at least 10% of all samples and additional checks may be run on anomalous values.The Company's Macassa Mine Property is the subject of a reserve report prepared by Glenn R. Clark, P.Eng. entitled Review of Resources and Reserves of Macassa Mine, Kirkland Lake, Ontario At January 1, 2011 dated April 4, 2011.This technical report has been filed on SEDAR (www.sedar.com).Cautionary Note Regarding Forward Looking StatementsThis Press Release may contain statements which constitute forward-looking information, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company's Annual Information Form and quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.To view the maps associated with this press release, please visit the following link: http://media3.marketwire.com/docs/kgi1115maps.pdf.FOR FURTHER INFORMATION PLEASE CONTACT: Brian HinchcliffeKirkland Lake Gold Inc.President1 705 567 52081 705 568 6444 (FAX)email@example.comORLindsay CarpenterKirkland Lake Gold Inc.Director of Investor Relations+1 416 840 7884+1 705 568 6444 (FAX)firstname.lastname@example.orgORPhilippe PolmanPelham Bell Pottinger+44 (0) 20 7861 email@example.comORKaterine RoeNOMAD: Panmure Gordon (UK) Limited+44 (0) 20 7 459 firstname.lastname@example.orgORCallum StewartPanmure Gordon (UK) Limited+44 (0) 20 7 459 3600ORGuy WilkesOcean Equities Ltd.+44 (0) 207 786 email@example.comNeither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts responsibility for the adequacy or accuracy of this news release.