KLDC Announces Closing of $7.8M Private Placement Offering of Subscription Receipts
KLDC announces the completion of the Lucky Strike property acquisition and related private placement offering of Subscription Receipts
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WARRIOR GOLD and NEW FOUND GOLD CONSOLIDATE LARGEST LAND PACKAGE in KIRKLAND LAKE, ONTARIO, CANADA
UNIQUE
EXPLORATION
OPPORTUNITY
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Largest landholder in the world-class Kirkland Lake gold camp with ~365 km2, the result of years of work and negotiations with many landholders
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Combined district-scale geologically prospective land package: 53 km length
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First-time consolidated land package in a historically fragmented ownership area
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Previously under-explored because geological dogma (“no gold north of the break”) has hindered gold exploration
STRONGER
KLD
TEAM
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New team of successful geologists and entrepreneurs, with a combination of market and technical successes
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Access to technical teams with extensive experience and the modern day tools to advance this project technically
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New Board of Directors led by Denis Laviolette founder and President of New Found Gold and Warrior Gold Board members, Steve Burleton, Gary Nassif and Danièle Spethmann
ATTRACTIVE
TO THE
MARKET
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New team will attract the attention of investors and strategic partners – increasing valuation and ability to raise funds to explore
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Quicker route to discovery with the funds to explore; discoveries are directly proportional to the amount of exploration dollars put in the ground
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Larger regional (or “district-scale”) footprint makes for a more attractive partner/ for mid-tier and majors operating in the camp
LAND POSITION
in KIRKLAND LAKE, ONTARIO, CANADA
BOARD OF DIRECTORS & MANAGEMENT
New Found Gold and EarthLabs (formerly GoldSpot Discoveries) founder Denis Laviolette to join as non-executive Chairman. Upon completion of the transaction, the board of directors of Kirkland Lake Discoveries will include:
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Denis Laviolette – Director and non-executive Chairman
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Danièle Spethmann – Director, President, and Chief Executive Officer
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Gary Nassif – Director
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Stephen Burleton – Director
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Two additional directors to be nominated by NFG later
GEOLOGY
HOSTED IN THE ABITIBI GREENSTONE BELT
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A prolific good belt: +200Moz of gold production, and still active, continuing to produce.
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The Kirkland Lake gold camp is a world-class mining camp and has produced +47Moz– host to high-grade gold mines that produced millions of ounces (the Kerr/the Lake Shore) and still producing high-grades at Macassa – average 17 g/t Au at 2.5 km depth.
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Lucky Strike property has segment of the MERC[1] transect survey suggesting the Mulven is a deep seeded fault off the Cadillac Larder Lake Break – the regional structure associated with many gold deposits in the region[2]
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The combined property has many multi-ounce mineralized showings (lots of smoke), at least four past-producing mines, +60 kms of major mineralized structures and hundreds of kilometres of second- and third-order structures to be explored, all hosted within favourable geological settings. The project hosts the right rocks, with promising geophysical and geochemical signatures, with many structures to be explored for gold, copper, silver, and other precious and strategic/critical minerals.
NEWS
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