Kirkland Lake Gold (KL)

[NYBob]

$Kirkland Lake Gold Announces Update to Fosterville News Release of August 30th, Significantly Increases Grade of Key Lower Phoenix Intercept
Revised underground drill assay result increases the grade of VG ( 1) intercept in hole UDH4051 located down-plunge of Swan Zone, 500 m (1) from deepest Mineral Reserves
Key intercept: 51.7 g/t(1) over 2.6 m (ETW(1) 2.2 m) revised to 207 g/t(1) Au over 2.6 m(1) (ETW(1) 2.2 m(1))
( 1) Abbreviations include: VG – Visible Gold; m – metres; g/t – grams per tonne gold; ETW – estimated true width.

TORONTO, Nov. 05, 2021 (GLOBE NEWSWIRE) --

Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced a revised drill intercept for one drill hole reported in the Lower Phoenix System at Fosterville in the news release issued on August 30, 2021 (the “August 30th News Release”). All other intercepts reported that August 30th News Release are unchanged. The drilling results and collar information for drill hole UDH4051 are presented in Tables 1 and 2.

The drill result initially reported for the Lower Phoenix VG intercept was 51.7 g/t Au over 2.6 m (ETW 2.2 m), including 215 g/t over 0.6 m (ETW 0.5 m) in hole UDH4051. However, the revised intercept is 207 g/t Au over 2.6 m (ETW 2.2 m), including 947 g/t Au over 0.6 m (ETW 0.5 m). The grade revision for the intercept represents a four-fold increase from the previously reported result. The revision followed additional review of the assays released on August 30, 2021 from the Fosterville mine and resulted from an analytical error at independent assay laboratory, On Site Laboratory Services.

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

Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “The correction to the intercept in hole UDH4051 is significant as, at 207 g/t over 2.6 m, it is extremely high-grade and is located 500 m away from our deepest Mineral Reserves in Lower Phoenix. With the very high concentrations of gold we get in the quartz with VG mineralization at Fosterville, the revised intercept provides increasing evidence that there will be additional high-grade lenses that we can identify as we drill to extend the deposit down-plunge from current Mineral Reserves.”

The error in the initial report was identified during a subsequent review of the sample batch, which was assayed using an Atomic Absorption Spectrometry (AAS) instrument to measure gold in solutions. The analytical method required solutions for extremely high-grade gold samples to be diluted, and dilution calculations applied to the AAS readings to return the gold assay. On Site Laboratory Services identified that a transcription error had occurred, and that a dilution calculation had not been applied to two results in their initial report.

Comparable results for the updated UDH4051 intercept have since been returned for screen fire (metallic screening) assay, and the Chrysos PhotonAssay techniques.

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 underground diamond drill hole collars are accurately surveyed using a Leica TS16 Total Station (Table 2). Down-hole deviations are measured by either electronic gyro or single-shot instruments.

Sampling of diamond drill hole UDH4051 consisted of full core sampled that was sent to an independent laboratory for analysis. 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 1.0m 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 based on a 25-gram fire assay method. Samples containing VG or returning high-grade fire assay results are also verified by Screen fire assaying (metallic screening) with either Atomic Absorption Spectroscopy (AAS) or Gravimetric 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).

Graphics accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/f24cf177-aff6-43a7-8e29-28ee97748d5a

https://www.globenewswire.com/NewsRoom/AttachmentNg/87e21f7a-1583-47e2-a06f-3ca3e535e0b8

About Kirkland Lake Gold Ltd.

Kirkland Lake Gold Ltd. is a low-cost 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 Kirkland Lake Gold 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, extensive management expertise and an overriding commitment to safe, responsible mining.

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


https://www.klgold.com

Cautionary Note Regarding Forward-Looking Information

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

$Kirkland Lake Gold Reports Record Net Earnings in Q3 2021


https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-Record-Net-Earnings-in-Q3-2021/default.aspx


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


$Kirkland Lake Gold Reports New Wide, High-Grade Intersections at Detour Lake
Results confirm and expand mineralization beyond Mid-Year 2021 Mineral Resource Estimates
Drilling confirms and identifies new mineralization inside recently updated resource pit shells

https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-New-Wide-High-Grade-Intersections-at-Detour-Lake-eef6cc257/default.aspx

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


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.

Kirkland Lake Gold should buy MMY bargain producer of gold & silver -


$Monument Mining Limited (MMY.VN) -


$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! smile)

https://www.barchart.com/stocks/quotes/MMY.VN/opinion

$Way undervalued and oversold - 5 bagger + + + + ? or more -
IMO!

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Ps.
opinion appreciated
TIA



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