Mr. Anthony Makuch reports
KIRKLAND LAKE GOLD EXPANDS NEW HIGH-GRADE ZONE BELOW TAYLOR MINE, REPORTS MINERALIZED EXTENSIONS ALONG STRIKE AND AT DEPTH
Kirkland Lake Gold Ltd. has releasednew exploration drill results from surface and underground drilling at the Taylor mine in Northeastern Ontario and situated along the PDF. Recent drilling occurred at depth below both the East and West porphyry deposits; at a prospective target area situated downdip of the Shaft deposit and east of the West porphyry deposit; and on strike to the east along the hangingwall of the PDF. The new drill results involve 60 holes for 26,257 metres of surface drilling and 31 holes for 5,512 metres of underground drilling, which were completed late in 2017 and early in 2018.
The drill intersections reported today provide significant results at all three of the company's key exploration targets at the Taylor mine. At the West porphyry deposit, the results of surface drilling include a 150-metre extension of the new high-grade gold zone first reported last December (see Kirkland Lake Gold news release dated Dec. 18, 2017). The zone has now been identified over an area between 350 m and 500 m below existing mining (780 m and 930 m below surface). In the gap area between the West porphyry and Shaft deposits, multiple high-grade intersections highlight the potential for additional growth in mineral resources close to existing mine infrastructure. Drilling east along the PDF continued to intersect high-grade gold-bearing quartz veins, with the farthest intersection now located 2.9 kilometres east of the Shaft deposit, on a new claim block acquired in 2017.Previously, the furthest intersection had been 1.8 km east of the Shaft deposit.
Tony Makuch, president and chief executive officerof Kirkland Lake Gold, commented: "Included in our plan to increase Kirkland Lake Gold's annual production to a million ounces within five to seven years is growth in both production levels and mine life at our Taylor mine. Today's drill results are very encouraging, as they demonstrate the considerable growth potential that exists at multiple locations around our existing deposits at Taylor. In addition, we have achieved extensive and consistent success intersecting high-grade quartz veins along the PDF east of the Shaft deposit. With our latest high-grade intersections 1.1 km, 1.3 km and 2.9 km east of the Shaft deposit, future drilling will focus less on further expansion and more on drilling within this very large mineralized area to determine its full potential.Our exploration program at Taylor is continuing with four surface drills and one underground drill in operation as we continue our work to grow the mine's mineral resources and mineral reserves."
Surface drilling program
Surface drilling to date has focused primarily on targets east and southwest of the Shaft deposit, where shallow dipping mineralized quartz veins situated in the hangingwall of the PDF have been intersected at multiple locations.The new results being reported include a total of 60 holes totalling 26,257 m of surface exploration. Results from this drilling support the company's view that mineralization at Taylor remains open at depth and along strike to the east and west.
Significant drill results from surface drill programs include:
8.9 grams per tonne gold over 13.2 metres in hole TA17-081 drilled approximately 900 m east of the Shaft deposit;20.1 g/t Au over 6.3 m (7.1 g/t cut) and 25.0 g/t Au over 1.5 m in hole TA17-103 drilled approximately 1.1 km east of the Shaft deposit;10.0 g/t Au over 5.9 m in hole TA17-130 drilled approximately 1.1 km east of the Shaft deposit;4.3 g/t Au over 10.9 m in hole TA18-140 drilled approximately 1.3 km east of the Shaft deposit; 5.8 g/t Au over 7.8 m in hole TA18-143 drilled approximately 1.3 km east of the Shaft deposit;205.8 g/t Au over 0.7 m in hole TA17-115 drilled approximately 1.1 km east of the Shaft deposit;45.2 g/t Au over 2.4 m (21.8 cut) in hole TA18-099A drilled approximately 500 m below the mine workings in the West porphyry deposit;8.9 g/t Au over 3.6 m and 4.9 g/t Au over 3.3 m in hole TA17-110 drilled approximately 500 m east of the Shaft deposit;7.9 g/t Au over 5.0 m in hole TA17-094W3 drilled approximately 500 m below the mine workings in the West porphyry deposit;2.9 g/t Au over 6.0 m and 38.0 g/t Au over 1.2 m in hole TA17-098 drilled approximately 2.9 km east of the Taylor mine.
Surface drilling by the company on the Taylor property is actively testing for mineralized extensions along strike to the east of the Shaft deposit and updip and at depth below the West porphyry deposit. Drilling east of the Shaft deposit continued to intersect high-grade gold mineralization along the PDF with hole TA17-130 intersecting 10.0 g/t Au over 5.9 m approximately 1.1 km east of the Shaft deposit, and hole TA18-143 intersecting 5.8 g/t Au over 7.8 m 1.3 km east of the Shaft deposit. Scout level surface drilling in 2017 also identified new mineralization along strike and up to 2.9 km east of the Shaft deposit with hole TA17-098 returning 2.9 g/t Au over 6.0 m and 38.0 g/t Au over 1.2 m. In addition, TA18-099A and TA17094W3 intersected 45.2 g/t Au over 2.4 m and 7.9 g/t Au over 5.0 m, respectively, 500 m below the current mine infrastructure. The drilling is testing multiple targets, including the 1004, 1003 and GAP zones, and testing for other mineralized zones on the property. These recent assay intercepts confirm that mineral deposits at Taylor are part of a larger deeper mineralized system, which remains open both along strike and to depth.
Surface drilling is continuing with four drills and continues to follow up on the most recent high-grade results.
Underground drilling
Recent underground exploration results from the 430-metre level highlight the potential to add mineral resources below the current workings of the mine. This deep drilling program has been targeting the potential repetition of shallow-dipping mineralized structures as found in the West porphyry deposit, in addition to the apparent westerly down-plunge extension of Shaft deposit mineralization.
Highlights of the results include:
19.0 g/t Au over 6.1 m (13.0 g/t cut) containing numerous visible gold stringers, in hole T430-065;13.9 g/t Au over 1.1 m intersected in hole T430-039;13.5 g/t Au over 1.5 m intersected in hole T430-052.
Drilling from the 430 level continues to follow up on new mineralization located below the GAP zone in an area with limited drilling between the West porphyry and Shaft deposits. Current intersections extend the mineralization approximately 100 m below the 430-metre sublevel exploration drift.
Taylor mine geology
The Taylor mine is located along the PDF, a major structural feature, striking roughly east-west, dipping to the south between 40 degrees to 60 degrees south and globally associated with gold mineralization. Geologically, the Taylor property can be generalized from south to north as: (1) mafic volcanic rocks of the Vipond formation, which are relatively undeformed and unaltered; (2) ultramafic and mafic volcanic rocks of the Hersey Lake formation, which are increasingly deformed and carbonate altered in the vicinity of structurally emplaced lenses of Porcupine sedimentary rocks and felsic to intermediate porphyritic intrusions; and (3) Porcupine assemblage greywacke-siltstone,interpreted to represent the footwall of the PDF on the Taylor property and a structural unconformity with the older, overlying mafic and ultramafic assemblage. The entire sequence is crosscut by a swarm of northeast-striking Matachewan diabase dikes.
Known gold mineralization at Taylor is located within the PDF and is primarily associated with the Hersey Lake formation. Four mineralized deposits have been identified over a strike length of two km. From east to west, these are: the near-surface Shaft deposit, with gold mineralization associated with felsic intrusive dikes; the East and West porphyry deposits, composed of a system of stacked vein systems (for example, 1004 and 1003), with the gold mineralization associated with quartz veins developed on the margins of felsic intrusive, sedimentary and carbonate-altered mafic ultramafic rocks; and the near-surface Shoot deposit, with gold mineralization hosted by argillaceous metasedimentary rocks within a package of carbonate-altered ultramafic rocks.Gold commonly occurs as relatively coarse-sized free gold in quartz, but also occurs as finely disseminated particles, which may be intimately associated with sulphides both in quartz-carbonate veins and in surrounding altered host rocks.
Qualified persons
David Schonfeldt, PGeo, exploration manager, KL North, is a qualified person as such term is defined in National Instrument 43-101 and has reviewed and approved the scientific and technical information included in this news release.
Quality assurance/quality control (QA/QC) controls
The company has implemented a quality assurance and controlprogram to ensure sampling and analysis of all exploration work are conducted in accordance with the best possible practices. The drill core is sawn in half with one-half of the core sample shipped to SGS Laboratories, located in Cochrane, Ont., or to Bureau Veritas Laboratories, located in Timmins, Ont. The other half of the core is retained for future assay verification. Other QA/QC measures include the insertion of certified reference standards and blanks into the sample stream, and the regular reassaying of pulps and rejects at alternative certified labs. Gold analysis is conducted by fire assay using atomic absorption or gravimetric finish. The laboratory reassays at least 10 per cent of all samples, and additional checks may be run on anomalous values.
About Kirkland Lake Gold Ltd.
Kirkland Lake is a mid-tier gold producer with 2018 production targeted at over 620,000 ounces of gold from mines in Canada and Australia. The production profile of the company is anchored by two high-grade, low-cost operations, including the Macassa mine, located in Northeastern 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 and operational expertise.
TAYLOR EXPLORATION -- SURFACE ASSAY RESULTSDrill holeTarget From (m)To (m)Core length (m)Assay Au (g/t)*Grade (g/t)*capped 30 g/t**TA17-073 Taylor East 202.7 204.21.5 2.1And208.8 211.83.0 1.6TA17-079 Taylor East87.088.51.5 1.9And186.1 187.61.5 1.9**TA17-081 Taylor East 311.9 325.1 13.2 8.9 7.6Including311.9 321.29.312.110.2**TA17-082 Taylor East 334.8 344.49.6 3.3Including339.9 343.53.6 6.6TA17-083 Taylor East 167.0 169.72.7 5.9TA17-084 Taylor East 229.3 230.31.0 2.3TA17-085 Taylor East 315.2 316.21.0 5.2And365.3 368.33.0 3.6Including365.3 366.31.0 8.7TA17-089ATaylor East 470.3 471.00.711.8TA17-095 Taylor East 338.8 343.34.5 4.6And456.0 457.51.5 4.2TA17-096 Taylor East 375.0 375.70.7 5.2TA17-098 Taylor East 255.0 261.06.0 2.9Including257.0 258.01.010.3And319.8 321.01.238.026.4Including319.8 320.60.855.930.0TA17-100 Taylor East 496.1 497.00.9 8.5TA17-101 Taylor East 163.5 165.01.5 7.2And300.2 306.05.8 2.0TA17-102 Taylor East 293.8 296.83.0 3.2TA17-103 Taylor East 326.7 333.06.320.1 7.1Including328.7 330.01.393.430.0And338.1 339.61.525.0TA17-106 Taylor East 316.5 318.01.5 7.6TA17-107 Taylor East 359.3 362.33.0 5.2TA17-108 Taylor East 272.7 275.73.0 3.3And336.3 339.33.0 7.8Including336.3 337.81.511.7TA17-109 Taylor East 408.9 409.50.6 6.6And418.1 419.61.5 3.2**TA17-110 Taylor East 269.3 272.93.6 8.9 7.9Including272.1 272.90.834.230.0And337.2 340.53.3 4.9**TA17-111 Taylor East 226.7 234.07.3 3.2Including233.0 234.01.013.2And252.0 254.22.2 7.1Including252.0 253.41.410.5**TA17-113 Taylor East 111.0 112.41.4 7.6And146.7 151.04.3 2.1And201.0 202.91.915.8And267.5 268.61.1 5.8And273.0 274.11.113.4TA17-114 Taylor East 339.0 341.02.0 3.5TA17-115 Taylor East 181.7 183.72.0 3.7And257.7 258.40.7 205.830.0TA17-117 Taylor East 334.6 336.62.0 9.3Including334.6 335.61.016.4TA17-118 Taylor East 316.6 318.01.4 6.5And423.0 426.03.0 2.7TA17-120 Taylor East 171.0 173.62.6 4.7TA17-121 Taylor East 275.8 276.50.7 6.4TA17-122 Taylor East 217.0 217.70.7 7.9And320.1 321.11.0 5.4TA17-123 Taylor East 304.2 311.16.9 4.0Including309.0 310.21.217.9TA17-125 Taylor East 394.5 398.03.5 2.3TA17-130 Taylor East 300.4 306.35.910.0 9.4Including301.9 303.41.532.530.0TA17-131 Taylor East 310.3 317.37.0 1.3TA17-132 Taylor East 264.4 265.91.5 3.8TA17-133 Taylor East 183.3 184.81.5 3.9TA17-134 Taylor East 443.5 445.01.514.7TA18-140 Taylor East 221.4 232.3 10.9 4.3Including225.0 231.06.0 7.6TA18-142 Taylor East 248.7 253.24.5 3.1TA18-143 Taylor East 249.7 257.57.8 5.8Including256.0 257.51.511.6TA18-145 Taylor East 227.2 230.33.1 2.0TA18-146ATaylor East 300.0 316.0 16.0 1.3TA17-051 Taylor Deep 720.0 721.01.0 6.4And776.8 778.01.219.5TA17-092 Taylor Deep 1,063.7 1,064.50.815.7And1,129.5 1,134.85.3 5.3Including1,130.5 1,134.84.3 6.1TA17-092-W2Taylor Deep wedge 1,163.6 1,184.2 20.6 2.4 2.3Including* Reported previously 1,177.0 1,179.02.015.814.9TA17-093 Taylor Deep 474.8 477.32.5 3.0And813.0 814.51.5 4.2And870.0 871.21.2 4.6And914.3 918.03.7 4.2Including917.0 918.01.010.1TA17-093-W1Taylor Deep wedge 773.0 779.96.9 2.3Including775.0 776.01.0 8.5And886.8 889.02.3 4.1TA17-093-W2Taylor Deep wedge 474.5 477.73.2 3.1And775.5 783.07.5 1.7Including781.5 783.01.5 4.8TA17-094 Taylor Deep 643.1 644.11.0 6.4And787.8 788.50.728.0TA17-094-W1Taylor Deep wedge 988.9 993.04.1 3.4TA17-094-W3Taylor Deep wedge 912.0 913.01.0 9.6And918.0 920.02.0 4.4And937.7 939.21.5 4.7And989.0 990.01.0 9.3And995.71000.75.0 7.9TA18-099ATaylor Deep 892.6 895.02.445.221.8Including 0.875.5Note: Taylor high-grade assays are capped at 30 g/t Au. True widths have not been determined at this time.* Reported previously (see news release dated Dec. 18, 2017, filed on SEDAR.** Intercept used in Dec. 31, 2017, mineral resource estimate (see news release dated Feb. 21, 2018), filed on SEDAR.
TAYLOR EXPLORATION -- UNDERGROUND ASSAY RESULTSDrill holeTarget From (m)To (m)Length (m)Assay Au (g/t)T430-033 Taylor Deep 378.3 381.7 3.4 4.8And394.4 395.4 1.010.8T430-039 Taylor Deep 145.4 146.5 1.113.9T430-044 Taylor Deep 162.1 165.2 3.1 2.4T430-052 Taylor Deep87.290.1 2.9 2.4And 97.6 100.6 3.0 7.4Including 99.1 100.6 1.513.5And201.6 204.1 2.5 2.8T430-055 Taylor Deep 349.2 351.0 1.8 2.4T430-065 Shaft 178.5 184.6 6.119.0 (13.0 cut)Including182.9 184.6 1.744.4 (22.7 cut)Note: Taylor high-grade assays are capped at 30 g/t Au. True widths have not been determined at this time.
We seek Safe Harbor.
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