Mandalay Resources Corp (MND)

[NYBob]

nagoya1 well ex. of KL drill results beside MND's gold mine:

Kirkland Lake Gold Announces New High-Grade Intersections at Fosterville Swan Zone, Drilling Expands Robbin’s Hill, Cygnet and Harrier Targets

Infill drilling into the Swan Mineral Reserves intersects higher than expected grades with visible-gold; results highlight potential to add ounces to existing Mineral Reserves

Key intercepts:

976 g/t Au over 7.4 m (ETW 7.0 m);
933 g/t Au over 6.4 m (ETW 5.8 m);
416 g/t Au over 6.8 m (ETW 5.6 m); and
222 g/t Au over 8.1 m (ETW 7.3 m)

Drill results at Robbin’s Hill confirm substantial scale of mineralized system; new intercepts identify potential Mineral Resource extensions and new mineralization surrounding the Curie Fault
Key intercepts:
30.8 g/t Au over 3.6 m (ETW 2.9 m) Curie Fault;
10.6 g/t Au over 1.6 m (ETW 1.6 m) Curie Fault;
9.6 g/t Au over 4.6 m (ETW 3.7 m) Curie Fault;
7.7 g/t Au over 3.7 m (ETW 2.8 m) Curie Fault;
5.0 g/t Au over 17.8m (ETW 11.7m) Curie Fault;
68.1 g/t Au(1) over 4.4 m (ETW 3.2 m) Herschel Fault
Visible-gold intercepts in holes RHD413 (Curie) and RHD411A (Curie HW)

Drilling of the Cygnet target demonstrates growth potential outside existing Mineral Resources
Key intercepts:
13.6 g/t Au over 6.6 m (ETW 5.9 m);
12.7g/t Au over 2.1 m (ETW 2.1 m); and
5.4 g/t Au over 9.7 m (ETW 8.0 m)

Drilling of the Harrier target intersects significant mineralization outside existing Mineral Reserves
Key intercepts:
20.9 g/t Au over 5.9 m (ETW 5.5 m);
22.8 g/t Au(1) over 4.3 m (ETW 3.7 m); and
24.5 g/t Au over 3.8 m (ETW 3.8 m)
Abbreviations include: (1): visible-gold; g/t Au: grams per tonne gold; ETW: estimated true width

TORONTO, July 30, 2020 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced new high-grade results from surface and underground drilling at the Fosterville Mine in Victoria, Australia. Recent infill drilling in the Swan Zone has returned intercepts with higher than anticipated grades and visible-gold near the intersection of the Swan Fault and the Swan Splay structure. Surface drilling has continued to target additional growth in the Robbin’s Hill gold system to assess the potential of further Mineral Reserve expansion. Underground growth drilling programs have also progressed in the Lower Phoenix gold system targeting the Cygnet Fault, and in the Harrier gold system targeting the Harrier Base Fault, where encouraging results have been returned. Drill results reported are from 44 holes (6,803 m) from the Swan infill drilling program and 111 holes (59,311 m) from step out, extension and infill drilling at Robbin’s Hill, Cygnet and Harrier (Figures 1 & 2).

Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “Drilling at Fosterville continues to demonstrate the significant size and scale of the mineralized structures, all of which contain quartz veining with visible-gold and all of which have the potential to host additional Swan or Swan-like zones. At the Swan Zone, results from new infill drilling include higher than expected grades, which is encouraging as we work towards our next Mineral Reserve and Mineral Resource update. In particular, the infill results confirm that the area where the Swan Fault and Swan Footwall Splay intersect contains more gold than currently modelled.

“At Robbin’s Hill, exploration activities are progressing well with recent surface drill results significantly expanding the size of the mineralized system and demonstrating the potential for continued Mineral Resource and Mineral Reserve growth along both the Curie and surrounding mineralized structures. Encouragingly, drilling and recent modelling of newly-acquired 3D seismic data clearly establish the potential for other mineralized structures within the Robbin’s Hill area, where there are several historical open pits with plunge extents to be investigated. The new twin underground exploration ramp we are developing will be extremely important for the future exploration of these areas as well as Robbin’s Hill itself. The ramp is advancing well, having been driven over 1,330 m to the end of June.

“Drill results at Cygnet and Harrier also continue to return encouraging results. At the Cygnet structure, approximately 125 m footwall to Swan, new drilling returned multiple significant intercepts beyond the northern extent of the existing Mineral Resource. There are several high-grade intersections with visible-gold in the Cygnet system, which extends over a 750 m strike length and 300 m vertically. At Harrier, new drilling returned high-grade mineralization outside of the existing Mineral Reserves, and also demonstrated the continuity of the Harrier structure for an additional 400 metres down-plunge-plunge, with the system remaining open for further expansion. As with Lower Phoenix and Robbin’s Hill, the exploration potential at both Cygnet and Harrier is substantial and we are increasingly confident that significant new Mineral Reserves and Mineral Resources can be identified with further drilling.”

Exploration activities at Fosterville ceased in late March as part of the Company’s COVID-19 response, which included the suspension of all non-essential work. Prior to this time, work on the exploration program was advancing with four surface drills and nine underground drills at Fosterville on the mine lease and three surface drills on regional projects. With the suspension of exploration work, all surface drilling was discontinued and underground drilling was reduced to three drills, all being dedicated to supporting operations and sustaining capital drill requirements. Discussions and proactive planning with drilling contractors were undertaken in early April to manage COVID-19 risks with strict control measures being implemented to support a resumption of exploration drilling. By the middle of the month, two underground drills and two surface drills were deployed. The ramp up of operating drills has continued, with the current fleet standing at four surface drills at Robbin’s Hill and six underground drills active at the Fosterville mine. Regional exploration drilling remains suspended as part of the Company’s ongoing response to COVID-19.