Agnico Eagle Mines Ltd (AEM)

[NYBob]

$Kirkland Lake Gold Announces New High-Grade, Visible-Gold Bearing
Intersections Down-Plunge of Swan Zone, at Cygnet and at Robbin’s Hill
– Fosterville Mine
August 30, 2021

https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Announces-New-High-Grade-Visible-Gold-Bearing-Intersections-Down-Plunge-of-Swan-Zone-at-Cygnet-and-at-Robbins-Hill--Fosterville-Mine/default.aspx


Drilling from recently completed P3912 drill drive intersects high-grade, visible-gold (“VG”) mineralization down-plunge of Swan Zone, 500 metres (“m”) from deepest Mineral Reserves
Key intercepts: 51.7 g/t over 2.6 m (ETW 2.2 m) and 9.6 g/t over 6.4 m (ETW 4.9 m)
New high-grade, VG-bearing intercepts reported along Cygnet Fault system ~150 m footwall to Swan Zone; results support potential for growth in Mineral Reserves and include identification of multiple new splay structures and opportunities for further extension of the fault system to the north
Key intercepts: 258 g/t over 1.8 m (ETW 1.4 m), 142 g/t over 2.0 (ETW 1.5 m), 49.4 g/t over 4.1 m (ETW 3.4 m), 27.5 g/t over 6.0 m (ETW 4.3 m) and 67.1 g/t over 0.3 m (ETW 0.3 m)
New VG-bearing mineralization intersected up to 1,000 m down-plunge of existing Mineral Reserves along Curie Fault at Robbin’s Hill
Key intercepts: 81.3 g/t over 2.6 m (ETW 2.5 m) and 23.1 g/t over 2.2 m (ETW 1.4 m).
Abbreviations include: VG – Visible Gold; g/t – grams per tonne gold; ETW – estimated true width.

TORONTO, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced results from 197 underground and 58 surface holes of drilling as an update of exploration drilling carried out at Fosterville Gold Mine since the December 31, 2020 Mineral Resources and Reserve update released in February 2021. The release includes diamond drilling results from five key areas across the Fosterville property, including underground targets at Lower Phoenix, the Cygnet Fault System, with associated hangingwall splay structures, and the Curie and Herschel Fault structures at Robbins Hill (Figure 1). Of the 197 underground diamond drill holes, 109 tested the Lower Phoenix structure, with the remaining 88 holes related to drilling of the Cygnet Fault System and associated hangingwall structures. At Robbin’s Hill, 58 new surface diamond drill holes targeted the Curie and Herschel Fault structures. All drilling results and collar information are presented in Tables 1 and 2.

Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “The results being released today continue to support our view that substantial potential exists to discover new high-grade mineralized areas and extensions and to grow Mineral Reserves at Fosterville. Following completion of the new P3912 underground drill drift, we commenced an extensive underground drilling program down-plunge of the Swan Zone in Lower Phoenix and have already returned a number of high-grade intersections containing the same quartz with VG mineralization that accounts for the ultra-high grades found in Swan. While the down-plunge extension of Swan Zone is obviously a key target for future growth in Mineral Reserves and Mineral Resources, we are also very encouraged by continued favorable results at Cygnet, a parallel structure near the Swan Zone. The results at Cygnet include new high-grade, VG-bearing intersections as well as the identification of new splay structures and opportunities for further growth of the Cygnet Fault System to the north.

“Turning to Robbin’s Hill, drill results continue to confirm the size and scale of the target areas at what we expect to become our second mining operation feeding the Fosterville Mill. Along the Curie Fault, we have now intersected VG mineralization up to 1,000 m down-plunge from current Mineral Reserves and at elevations from surface similar to where we first detected VG in the Lower Phoenix and Harrier systems. With the progress achieved advancing the new Robbin’s Hill Decline, we have now commenced underground drilling at Robbin’s Hill to support future exploration of the Curie, Herschel and other Fault targets. Underground drilling from the new Decline will significantly improve the efficiency and effectiveness of the Robbin’s Hill exploration programs. We currently have nine underground and eight surface diamond drills operating at Fosterville, with a total of 210,000 metres of drilling expected to be completed during 2021.”

Lower Phoenix Infill and Extension Program

During 2021, underground diamond drilling targeting areas down-plunge of the Swan Mineral Reserves has returned encouraging results, demonstrating continuity of mineralization within, and extensions of Inferred Mineral Resources, in the Lower Phoenix System (Figure 2).

Drilling was undertaken from several underground drill platforms, including the Harrier link drive, P4040 drive, and the new P3912 drive following its completion in early June. A total of 109 Lower Phoenix diamond holes (31,106 m) has progressively tested the Swan/Lower Phoenix over 550m down-plunge length from the Swan Mineral Reserve. Significant recent results include two that are at the southern extremities of the Lower Phoenix Inferred Mineral Resources approximately 500 m down-plunge of current Mineral Reserves. Drill testing down-plunge of these intercepts is planned to assess the continuity and extents of these VG occurrences.

Recent significant intercepts from drilling in Lower Phoenix include:

51.7 g/t(1) over 2.6 m (ETW 2.2 m), Including 215 g/t1) over 0.6 m (ETW 0.5 m) in hole UDH4051
9.6 g/t(1) over 6.4 m (ETW 4.9 m), Including 78.8 g/t(1) over 0.5 m (ETW 0.4 m) in hole UDH4048
10.8 g/t(1) over 4.8 m (ETW 3.7 m), Including 31.2 g/t(1) over 1.1 m (ETW 0.8 m) in hole UDH3954
10.0 g/t over 17.6 m (ETW 10.4 m) in hole UDH3980
(1) Visible-gold drill intercept

New drilling outside of the existing Indicated Mineral Resources reaffirmed the continuity of the largely sulfide-hosted mineralization with 30 intercepts greater than 15 gram-metre (gram-metre = gold grade x estimated true width), of which 11 are greater than 30 gram-metre, and two are greater than 100 gram-metre. One of the 100 gram-metre intercepts includes the presence of VG (UDH4051 as detailed above), while the other is a sulfide-gold hosted intercept (UDH3980).

Infill and extension drilling of the Lower Phoenix area is continuing from the Phoenix 3912 Drill Drive.

Cygnet and Hangingwall Splay Program

Continued infill and extension drilling of 88 underground diamond drill holes (15,545m) into the Cygnet Mineral Resource and adjacent area has identified several new hangingwall structures. With recent geological interpretation the broader structure has been resolved into several faults, now called Cygnet, Cygnet Hangingwall, Dove, Pen, and Ptarmigan Faults (Figure 3). Of significance, the Pen and Ptarmigan Faults have similar strike trends, approximately 325° Mine Grid, as the northern parts of the Swan Fault, and have returned significant VG in quartz intercepts (Figure 4).

Ongoing drilling in the area and to the north will test for additional hangingwall splay faults.

Key Intercepts include:

Pen Fault Splay
49.4 g/t(1) over 4.1 m (ETW 3.4 m), including 589 g/t(1) over 0.3 m (ETW 0.2 m) in hole UDH3851
153 g/t(1) over 0.5 m (ETW 0.5 m) in hole UDH4065
Ptarmigan Fault Splay
258 g/t(1) over 1.8 m (ETW 1.4 m), including 4,460 g/t(1) over 0.1 m (ETW 0.1 m) in hole UDH4018
142 g/t(1) over 2.0 m (ETW 1.5 m) including 1,590 g/t(1) over 0.2 m (ETW 0.1 m) in hole UDH3924
Infill drilling of the Cygnet Mineral Resource and Reserve area has encountered eight holes with VG in quartz mineralization, of which four have the potential to expand the adjacent Mineral Reserves (Figure 5). The other three intercepts have the potential to increase the Mineral Resources.

Key Cygnet intercepts include:

24.1 g/t(1) over 7.3 m (ETW 5.6 m), including 328 g/t(1) over 0.4 m (ETW 0.3 m) in hole UDH3751
18.7 g/t(1) over 2.6 m (ETW 2.5 m) in hole UDH3752
27.5 g/t(1) over 6.0 m (ETW 4.3 m), including 166 g/t(1) over 0.4 m (ETW 0.3 m) in hole UDH3753
Robbin’s Hill Drilling Programs

Since late 2020, up to five surface diamond drills have operated in the Robbin’s Hill area, primarily targeting gold mineralization along the west-dipping Curie Fault, one of the controlling structures for mineralization at Robbins’s Hill. The program of extension drilling comprised 58 surface diamond drill holes (58,125 m) testing the Curie Fault and adjacent structures. The drilling, down-plunge of the current Curie Mineral Reserve, has continued to encounter strong mineralization and VG at elevations similar to those where VG was first noted in the Lower Phoenix and Harrier Gold Systems.

VG drill intercepts were previously reported for the Curie structure at depths of approximately 500 m in the Company’s news release dated December 10, 2019, with intercepts of 11.7 g/t(1) over 8.8 m (ETW 7.2 m) in hole RDH321, and 24.5 g/t(1) over 3.7 m (ETW 3.4 m) in hole RHD334A. The new drilling has intersected VG at greater depths, with occurrences recorded between 950 to 1,150 metres below surface on the Curie structure in four holes (RDH413, RDH439C, RDH441 and RDH441A) and are detailed below. These intercepts, as well as other sulfide-hosted gold results, increase the down-plunge extent of Curie mineralization to greater than 1,000 metres from current Mineral Reserves (Figure 6).

Key Curie intercepts include:

23.1 g/t(1) over 2.2 m (ETW 1.4 m), including 103 g/t(1) over 0.4 m (ETW 0.2 m) in hole RHD413
81.3 g/t(1) over 2.6 m (ETW 2.5 m), including 982 g/t(1) over 0.2 m (ETW 0.2 m) in hole RHD439C
28.0 g/t(1) over 1.5 m (ETW 1.1 m), including 103 g/t(1) over 0.2 m (ETW 0.2 m) in hole RHD441
19.7 g/t(1) over 3.8 m (ETW 3.4 m), including 158 g/t(1) over 0.4 m (ETW 0.4 m) in hole RHD441A
6.8 g/t over 7.7 m (ETW 5.7 m) in hole RHD440A
9.0 g/t over 2.9 m (ETW 2.7 m) in hole RHD409A
(1) Visible-gold drill intercept

Three surface drills continue to operate at Robbin’s Hill and are focused on the down-plunge extension of the Curie Mineral Resource, and testing of other targets. Two underground diamond drills, located at approximately 10,500mN, have commenced operating from the new Robbin’s Hill Exploration Decline. These drills are also targeting down-plunge extensions of the Curie mineralization.

The Herschel Fault, located hangingwall to the Curie Fault, was drill tested as part of the drilling that targeted Curie Fault mineralization at depth. Drill intercepts for the Herschel structure are mostly less than 500 m below surface. Currently, the most significant intercept contains VG in quartz and is 160 g/t over 4.4 m (ETW 3.8 m), including 1,160 g/t Au over 0.6 m (ETW 0.5 m), in hole RHD412.

Additional drilling into the Herschel Fault will be undertaken once the Robbin’s Hill Decline has progressed further to the north (approximately 12,000mN).

Robbin’s Hill Underground Decline Development

Underground development of the Robbin’s Hill Exploration Decline commenced in January 2020 and has progressed well, advancing a total of 5,932 m as of July 30, 2021. The mid-2020 arrival of a smart jumbo has provided increased development capacity since commencement. The development, since the Q1-2021 has been used an underground drill platform for exploration diamond drilling activities as the ramp progressed northwards.

Qualified Persons

Troy Fuller, MAIG, Director of Exploration, Australia, is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.

For further information regarding the Company’s 2020 Mineral Reserves and Mineral Resources estimates for the Fosterville Gold Mine, please refer to the Company’s News Release dated February 25, 2021 and the Technical Report entitled “Updated NI 43-101 Technical Report Fosterville Gold Mine In the State of Victoria, Australia” effective December 31, 2018, both available on the Company’s website and on SEDAR.

Drilling and Underground Sampling Assay QAQC

Kirkland Lake Gold has in place quality-control systems to ensure best practice in drilling, sampling and analysis of drill core. All surface diamond drill hole collars are accurately surveyed using Leica TS16 Total Station Trimble R10 GPS and underground holes using a Leica TS16 Total Station (Table 2). Down-hole deviations are measured by either electronic gyro or single-shot instruments.

Sampling consisted of diamond drill core that was either half core or full core sampled. Half core samples were cut longitudinally in half with a diamond saw; one-half of the drill core was sent to an independent laboratory for analysis and the other drill core half retained for reference. Sample pulps are returned from the assay laboratory for reference and future geological or metallurgical studies. Drill core sample intervals vary between 0.1 and 1.3m in length and were determined from logging of sulfide and VG to geological boundaries.

For assay QAQC purposes Certified Reference Material (CRM) and Blank samples are inserted into the sample stream at rates of approximately 1 in 25.

Samples containing visible-gold or considered likely to contain visible-gold were separated from sulfide gold samples and dispatched separately for assaying. At the laboratory “visible-gold” jobs were processed through a single pulverizer and material barren of gold (‘quartz wash’) was crushed before and after each sample to minimize the potential for gold to contaminate successive samples.

Assays are either based on 25-gram fire assay or screen fire assay with Atomic Absorption Spectroscopy (AAS) finish. Mean grades are calculated using a variable lower grade cut-off (generally 2 g/t Au) and maximum 2 m internal dilution. No upper gold grade cut-off is applied to the data. However, during future Mineral Resource studies the requirement for assay top cutting will be assessed.

The samples were assayed at On Site Laboratory Services, an independent laboratory in Bendigo, Victoria. The facility is registered under ISO 9001:2015 (CERT-40147) and operates in accordance with ISO/IEC17025 (accreditation no. 20456) under National Association of Testing Authorities, Australia (NATA).

About Kirkland Lake Gold Ltd.

Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021. The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.

For further information on Kirkland Lake Gold and to receive news releases by email, visit the website www.kl.gold.com

https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Announces-New-High-Grade-Visible-Gold-Bearing-Intersections-Down-Plunge-of-Swan-Zone-at-Cygnet-and-at-Robbins-Hill--Fosterville-Mine/default.aspx


LATEST PRESENTATION

https://s23.q4cdn.com/685814098/files/doc_presentations/2021/07/Q2-2021-CONFERENCE-CALL-AND-WEBCAST-July-29-2021-v12.pdf


For further information on Kirkland Lake Gold and to receive news releases by email, visit the website


https://www.klgold.com

FOR FURTHER INFORMATION PLEASE CONTACT

Anthony Makuch, President, Chief Executive Officer & Director
Phone: [phone]
E-mail: [e-mail]

Mark Utting, Senior Vice President, Investor Relations
Phone: [phone]
E-mail: [e-mail]

https://www.kl.gold/news-and-media/default.aspx

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Source: Kirkland Lake Gold Ltd

Ps.

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