Toronto, Ontario, July 20, 2023 – Kirkland Lake Discoveries Corp. (TSX-V - KLDC) (“KLDC or the “Company”) is pleased to announce that the Summer 2023 drill campaign at the Kirkland Lake Project has commenced. The 10,000-m drill program is planned over three phases and has been initiated at the Goodfish-Kirana Property to follow up on the Fall 2021 program that intersected visible gold and returned an assay of 72.10 g/t Au over 0.5 m (see December 24, 2021 News Release).
The 10,000-m drill program will be divided into three phases:
Phase 1, approximately 3,000 m on the Goodfish-Kirana Property
Phase 2, approximately 4,000 m on the Lucky Strike Property
Phase 3, approximately 3,000 m to follow up on phase 1 and 2 drilling
The focus of this first phase of drilling will be to follow up on previous successes at the Jo Zone and to test new targets defined by key structural intersections that have recently been identified from geophysical surveys, corresponding structural interpretation, and geological analysis.
“Our 2021 drill campaign finished with a fantastic assay at the Jo Zone that included visible gold at a vertical depth of 301 m (72.1 g/t Au over 0.5 m reported, the other half of core assayed 561 g/t Au). We will follow up on the downdip extension of this mineralization as well as test the mineralized footprint of the Jo Zone. Our 2023 diamond drill program is our largest program to date, and we are excited to be following up at Jo Zone as well as testing other promising targets,” commented Danièle Spethmann, President and CEO.
In addition to a downdip step out of the Jo Zone, new targets to be tested include:
The Sutton Break, a large (500+ m strike length) area that remains untested along the Kirana Break structure, which is now recognized to coincide with the intersection of prominent NW-trending structures and a strong chargeability high at depth. Early 2023 fieldwork identified a strongly silicified and pyritized mafic volcanic unit, the samples of which returned elevated gold assays.
The Kirana Break Extension is targeting a large zone of de-magnetization that correlates to a strong Induced Polarization (IP) response. New structural interpretation suggests a major NW-trending structure, associated with the Jo Zone, that extends to the SE and intersects the regional Kirana Break structure.
The Eastern IP target is an untested strong IP response at depth within a folded volcanic sequence.
The Chorzepa target drill holes are planned to undercut historical trenches that returned up to 14.75 g/t Au. A previous IP geophysical survey indicates the presence of a broad chargeability anomaly at depth hosted within an intermediate volcanic unit.
As Phase 1 diamond drilling gets underway, additional structural interpretation has begun on the recently completed M-Pass high-resolution airborne magnetic survey data from the Lucky Strike Property. A field crew is presently mapping and prospecting on the Lucky Strike Property to better define targets for the Phase 2 diamond drill program.
Danièle Spethmann stated, “We have boots on the ground advancing targets at the Lucky Strike Property, and our drill team has successfully mobilized to the Goodfish-Kirana Property after a short delay because of fire bans across the region. We’ve been developing our exploration drill program with a new team and a fresh approach and are excited to advance our geological understanding of this newly consolidated district-scale project.”
QP Statement
Danièle Spethmann, P.Geo., President and CEO and a Director of the Company, is a Qualified Person as defined by NI 43-101. Ms. Spethmann has reviewed the technical information in this news release and approves the written disclosure contained herein.
About Kirkland Lake Discoveries Corp.
Kirkland Lake Discoveries Corp. is a TSX Venture Exchange listed company that has recently consolidated a district-scale and highly prospective land package in the Kirkland Lake Gold Camp in Ontario, Canada. The properties are hosted in the Abitibi Greenstone Belt, one of the world’s best-endowed greenstone belts, with 200+ million ounces of gold produced to date.[1] The properties are host to regional and property-scale mineralized structures that are considered second-order structures off the Larder Lake-Cadillac Deformation Zone (LLCDZ), the regional structure in the belt known to be spatially associated with the gold mines hosted in the camp.
The properties assembled include the 100%-owned Lucky Strike Property, Goodfish-Kirana, the Arnold Property, and the optioned KL West (KLW) and KL Central (KLC) Properties. The KLDC land position comprises approximately 38,000 ha, over 1,338 claims and 29 patented claims and ranks the Company as the largest landholder in the Kirkland Lake region.
For additional information, please contact:
Danièle Spethmann, P.Geo.
President & CEO
kirklandlakediscoveries.com
+1 416 363 0317
daniele@kirklandlakediscoveries.com
The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company.
The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
[1] Canada’s Gold Exploration Frontier: The Abitibi Greenstone Belt - https://www.visualcapitalist.com/sp/canadas-gold-exploration-frontier-the-abitibi-greenstone-belt/