Kirkland Lake upgrades key Fosterville drill intercept to 947 g/t gold

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(Kitco News) - Kirkland Lake Gold (TSX:KL)(NYSE:KL) today announced a revised drill intercept for one drill hole reportedin the Lower Phoenix System at Fosterville in the news release issued on August30, 2021.

According to the company'sstatement, the drill result initially reported for the Lower Phoenix VGintercept 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 revisedintercept 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), which represents a four-fold increase from the previously reportedresult, the company added.

Kirkland Lake noted that theerror in the initial report was identified during a subsequent review of thesample batch, which was assayed using an Atomic Absorption Spectrometry (AAS)instrument to measure gold in solutions.

The analytical methodrequired solutions for extremely high-grade gold samples to be diluted, anddilution calculations applied to the AAS readings to return the gold assay. OnSite Laboratory Services identified that a transcription error had occurred,and that a dilution calculation had not been applied to two results in theirinitial report, the company explained.

President and CEO Tony Makuchcommented, "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 awayfrom our deepest Mineral Reserves in Lower Phoenix."

"With the very highconcentrations of gold we get in the quartz with VG mineralization atFosterville, the revised intercept provides increasing evidence that there willbe additional high-grade lenses that we can identify as we drill to extend thedeposit down-plunge from current Mineral Reserves," he added.

Kirkland Lake Gold is alow-cost senior gold producer operating in Canada and Australia that istargeting 1,300,000 - 1,400,000 ounces of production in 2021. The productionprofile of Kirkland Lake Gold is anchored by three high-quality operations,including the Macassa mine and Detour Lake mine, both located in NorthernOntario, and the Fosterville mine located in the state of Victoria, Australia.

By Vladimir Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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