NEWS RELEASE
KIRKLAND LAKE GOLD
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TORONTO -- Kirkland Lake Gold Inc., ("KL Gold" or the "Company")(TSX:KGI) an operating and exploration gold company provides results from its regional exploration program on its wholly owned property in Kirkland Lake, Ontario.
The Company commenced a targeting program to test for mineralization on the north side of the Amalgamated Break and the possible easterly extension of the South Mine Complex ("SMC") across a previously untested trend of approximately 1,500 metres in strike length.
Mr. George Ogilvie, Chief Executive Officer of the Company commented, "This is an exciting venture for the Company, as there has never been any historical testing of this kind on the Company's holdings in the Kirkland Lake Camp. Our geology team are satisfied with the initial results, and along with geophysics analysis, this information will be used to better target follow-up drilling. We look forward to completing additional drilling by calendar year end, the results of which will be used to determine a further follow-up in Phase 2 of the regional program to be implemented within our 2016 budget. The regional drill program is in keeping with management's vision to further develop the Kirkland Lake camp."
Phase 1 and 1a Drilling Program
The initial phase of the deep drill program (Phase 1) consisted of four (4) holes drilled to depths of between 1,940 to 2,070 metres (6,360 feet to 6,800 feet) and stepped out approximately 250 metres (800 feet) east of the last known intersection on the SMC, with each hole spaced at 300 metre intervals incrementally east of the previous hole.
The SMC intrusive phase (porphyry, basic syenite) is generally mineralized with up to 5% pyrite.
The tuffs may have higher sulphide content, up to 10% pyrite.
Upon completion of the deep holes, the Company completed a down-hole induced polarization ("DHIP") geophysical survey to identify potential exploration targets.
The DHIP identified several weak chargeability anomalies consistent with the intrusive phase sulphide content of the SMC (approximately 5%).
The chargeability anomalies may indicate disseminated pyrite, but may not necessarily indicate gold mineralization.
Hole AB-15-23 returned a very high grade intercept of 3,241.4 g/t (94.54 opt) over a core length of 0.7 metres (2.3 feet) at a down-hole depth of 1,100 metres (3,609 feet).
This intersection is characterized by quartz/carbonate stringers with abundant large clusters of visible gold within weakly hematite altered tuff along with 5-7% fine to medium grained pyrite and minor chalcopyrite and hematite.
Holes AB 15-12 and AB-15-23 returned assays of 11.7 g/t or 0.34 opt over a core length of 0.3 metres (1.0 feet).
Both intersected visible gold and tellurides in quartz stringers within relatively unaltered basic syenite containing 1-2% fine grained pyrite.
Based on the results of the DHIP, and the presence of high grade gold mineralization, the Company commenced a follow-up program (Phase 1a) to perform confirmatory drilling and to follow up on the DHIP results.
The follow up program (Phase 1a) consists of 15,000 metres (50,000 feet) of drilling in eight (8) to nine (9) holes targeting depths of between 1,370 metres (4,500 feet) to 2,200 metres (7,220 feet).
Three of these holes are currently in progress, with AB-15-91 and AB-15-92 aimed at following up on the visible gold and tellurides intercepts in AB-15-12 and AB-15-23, as well as targeting the DHIP response at depth.
Hole AB-15-106 is following up on the high grade (3,241.4 g/t) intercept in AB-15-23. To date, hole AB-15-91 returned significant results with a high grade intercept of 1,783.2 g/t (52.01 opt) over a core length of 0.3 metres (1.0 feet) at a down-hole depth of 1,764 metres (5,789 feet).
This hole is located approximately midway between holes AB-15-12 and AB-15-23 and also intersected visible gold and tellurides in quartz stringers (as in the previous holes).
Additional drilling is currently in progress with approximately 7,000 metres (23,000 feet) remaining.
The Company will employ 4 drills up to the end of the year to complete the (Phase 1a) follow up program.
The intersections in the drilling programs described herein are between 460 metres (1,500 feet) and 760 metres (2,500 feet) south of the Main Break and do not appear to be related.
Historical Info
There are seven past producers, including the Macassa Mine, that contributed over 25 million ounces of gold production in the camp and are all located along the main ore horizon, the Main and '04 Break system.
Kirkland Lake owns five of these former producers namely the Macassa, Wright Hargreaves, Lakeshore, Kirkland Minerals and Teck Hughes mines which account for about 90% of the historical production from the camp.
Prior to 1999, little exploration had been done to test for potential mineralization south of the main ore horizon.
Drifting and mining on the Main and '04 Break systems by the various mines in Kirkland Lake was sufficient to maintain production.
After purchasing the Macassa Mine property - along with four contiguous former producers in 2001, Kirkland Lake Gold began dewatering the underground workings at the Macassa Mine.
Once the -4700 foot level was dewatered in 2003, an exploration program was initiated to test further south for potential mineralization south of the '04 Break system.
In November of 2003, the fourth drill hole of this program intersected multiple mineralized zones up to 480 metres south of the '04 Break indicating the presence of significant gold mineralization now known as the South Mine Complex.
The SMC represents an entirely new mineralized system in the Kirkland Lake mining camp and is characterized by generally shallowly dipping (25°-50°) structurally controlled zones of finely disseminated pyrite, visible gold and tellurides.
The SMC also exhibits a higher grade than what has been historically mined in the Kirkland Lake camp and has been intersected as deep as the -6500 foot elevation and as high as the -4700 foot elevation over a strike length in excess of 2,000 feet.
Gold mineralization in the SMC area occurs in a complex interconnected network of narrow, east to northeast trending shallow south dipping shear zones and auriferous alteration.
It consists of wide, gold-bearing alteration and mineralization halos, in contrast to the narrow quartz vein systems associated with the Main and '04 Breaks.
About the Company
Kirkland Lake Gold Inc. is a gold producer with assets in Kirkland Lake, northeastern Ontario.
Current gold production is in excess of 150,000 ounces per year and is expected to grow to over 180,000 ounces per year in the next three years as exploration and development work continue.
The exploration program is aimed at maintaining a property wide reserve and resource base sufficient to sustain a mine life of more than ten years, with the current mine life estimated at between ten to fourteen years of production in a high grade gold camp.
The Company is committed to building a sustainable mining company that is recognized as a safe and responsible gold producer.
Kirkland Lake Gold plans to evolve into an intermediate gold mining company centred in the historically robust Kirkland Lake gold camp, while evaluating opportunities for growth in other safe mining jurisdictions.
The Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news release.
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