Kirkland Lake Gold intersects high-grade mineralization at Macassa
Monday, Apr 30, 2018

Kirkland Lake Gold Ltd. reported new high-grade drill intersections from underground exploration drilling on the SMC at the Macassa Mine, Kirkland Lake, Ontario. The new results involve 44 holes for 17,264 m of underground drilling from the 5305-foot level (“5305 Level”) east exploration drift. Underground drilling from the 5305 Level will continue throughout the remainder of 2018. A new drill bay has been recently completed at the east end of the exploration drift, which will allow further easterly exploration of the SMC later in the year.

The new high-grade Intersections are situated within the 259 m eastern extension of the SMC, that was first reported on June 28, 2017 (see Kirkland Lake Gold News Release dated June 28, 2017). The results are significant as they will support both the conversion of existing Inferred Mineral Resources, as well as Mineral Resource expansion, given that many of the intersections are located outside existing Mineral Resource blocks. The intersections being reported today are located approximately 550 m south-southeast of the new #4 Shaft, which is targeted for completion early in 2022. By comparison, the new intersections are approximately 2.1 km east of the current production shaft (the #3 Shaft).  

Tony Makuch, President and Chief Executive Officer of Kirkland Lake Gold, commented: “The eastern extension of the SMC was a significant development for the Macassa Mine and was the key driver of our recent strong growth in Mineral Resources. On February 20, 2018 we announced a 58% increase in Measured and Indicated Mineral Resources at the mine, to 2.1 million ounces at an average grade of 17.1 g/t, and a 48% increase in Inferred Mineral Resources, to 1.4 million ounces at an average grade of 22.2 g/t. The new drill results further increase our confidence that, going forward, we will see a significant percentage of our Mineral Resource base converted into Mineral Reserves. The results also confirm the considerable potential that exists to increase Mineral Resources through additional drilling within the known area of SMC mineralization. The opportunity to substantially grow ounces and extend mine life at Macassa was a key factor in our decision to move forward with our #4 Shaft project.  Exploration work is continuing at the mine, with three underground drills in operation to further explore for Mineral Resource conversion and expansion opportunities in the SMC.”

Underground Drilling Program Defining, Upgrading and Expanding Resource Areas

Recent drilling conducted from the easternmost drill stations on the 5300-foot level (“5300 Level”) concentrated on follow up drilling in the eastern extension area first detailed in June 2017. Since that time, the 5300 Level exploration drift has been extended 208 m to allow for better intersection angles required for Mineral Resource generation.

The mineralization intersected with the new drill results appears to correlate with the New South Zone, the largest and most continuous zone in the South Mine Complex. Typical of the SMC, the zone strikes east-west in the geology grid and dips between 17 and 30 degrees south. The dominant mineral present appears to be gold-bearing telluride calaverite, with visible gold also commonly being observed.  

Diamond drilling is targeting both Inferred Mineral Resource areas for future conversion and Mineral Resource expansion as part of the current exploration program. To accomplish these objectives, drill hole spacing has been reduced to between 15 m and 21 m. Drill holes that tested the December 2017 Inferred Mineral Resource areas include: 53-3391 (63.8 g/t over 1.4 m true width), 53-3387 (57.3 g/t over 0.9 m true width) and 53-3388 (15.1 g/t over 3.2 m true width).

Resource expansion drill intercepts, situated outside the Inferred Mineral Resource areas, include 53-3390A (210.5 g/t over 1.5 m true width), located 9 m northwest of the Inferred Mineral Resource area, 53-3394 (100.5 g/t over 0.9 m true width), located 11.6 m east and 23 m south of the Inferred Mineral Resource area and 53-3404A (56.9 g/t over 4.7 m true width) located 54 m southeast of the current Inferred Mineral Resource area. Additional intercepts expanding the Inferred Mineral Resource area to the southeast include 53-3401 (16.5 g/t over 1.6 m true width) and 53-3393 (78.2 g/t over a true width of 3.6 m).

New Footwall Mineralization Intersected East of the Current Mineral Resource Area

Included in the drill results announced today are intersection of high-grade mineralization east of the current Mineral Resource area believed to be related to the SMC. Among the results, drill hole 53-3342 intersected 100.5 g/t over a core length of 0.6 m, -5927 elevation, 134 m east of the current Mineral Resource area in what is believed to be a footwall vein to the New South Zone. Drill hole 53-3343 intersected two footwall veins, including 41.8 g/t over a core length of 0.3 m in one vein, and 30.5 g/t over a core length 0.3 m in the second vein. These intersections are located 77 m southeast of the current Inferred Mineral Resource area, at the -5964 elevation, and will be further tested from the far east drill bay on 5300 Level.

Underground Development Now Advancing West Leg

The next leg of underground development on 5300 Level will include a 152 m drift and drill bay extension to the west. Exploration at this location will concentrate on locating and defining Mineral Resources, which could be developed in the short term. While this development is underway, one of the exploration drills on 5300 Level will be re-located to the recently completed far east drill bay to continue testing and expanding the SMC to the east. Subject to continued favourable results from this program, the 5300 Level east exploration drift may be extended an additional 152 m east.

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