June
15,
2010
KIRKLAND LAKE GOLD INC.
New Drilling Continues to Extend the
South Mine Complex;
Expansion More Than 300 Feet East of
Previous Limit
Kirkland Lake Gold Inc. (the Company), an operating and exploration gold mining company, is
pleased to announce that recent underground exploration drilling has resulted
in the further expansion of the South Mine Complex (SMC) on the Company?s 100%
owned Macassa property. The SMC now consists of 25 or more mineralized zones,
some of which are now in production while others are being explored and
developed under the Company?s exploration and ore-body definition programs.
Recent drilling from one of several
exploration programs currently in progress has extended the SMC 340 feet east
of the previous known limits.
- Drill hole 50-1242 has intersected the New South Zone and assayed
6.24 ounces of gold per ton (opt) uncut (4.82 opt cut) over a core length
of 12.5 feet (estimated 3.0 feet true width). A second zone interpreted to
represent a hanging wall zone to the New South Zone returned 2.10 opt over
a core length of 3.9 feet (estimated 0.9 feet true width). The hanging
wall intersection has effectively extended the South Mine Complex 340 feet
further east than previously released drill hole 53-1506 which intersected
the New South Zone and assayed 8.60 opt uncut, 3.50 opt cut over an
estimated true width of 5.2 feet. (see the Company?s news release dated
January 12, 2010)
- Infill drilling, which forms part of this release, has shown that
the intersection in drill hole 53-1506 (8.60 opt over 5.2? true width),
previously interpreted to be footwall to the New South Zone, is
reinterpreted as being on the New South Zone itself as it begins a
northerly change in strike.
- In addition, drill hole 50-1153 has extended the New South Zone 160
feet down dip from the above previously released drill hole 53-1506 and
assayed 0.77 opt over a true width of 5.5 feet.
- Drill holes 53-1520 to 53-1524 all intersected the structure
controlling the New South Zone but returned negligible assays. These holes
likely lie outside the east-trending flat plunge line for the zone.
- Both hanging wall and footwall mineralization to the New South Zone
has been intersected in many of the recent drill results.
?Since January we have extended the South
Mine Complex more than 500 feet east of the previously defined limit. We now
have numerous drill targets in this area of the Macassa Mine to test over the
next year including the New South Zone and the recently discovered Lower SMC or
`08 Break.? said Stewart Carmichael, Chief Exploration Geologist. He
added, ?We also plan to increase exploration drilling from 8 shifts per week to
14 shifts per week upon completion of the new dry facility, which will allow
for a 56% increase in exploration drilling starting in July.?
The figure referred to in this release may
be viewed at the Company?s website, www.klgold.com
and will provide context to the above statements. Figures 1, 2 and 3 are plan
views showing the latest drilling results on the New South Zone and subsidiary
footwall and hanging wall intersections.
The following table summarizes the
latest drilling results (Imperial values)
DRILL
HOLE No.
|
ZONE
|
FROM
(feet)
|
TO
(feet)
|
HOLE
DIP
(degrees)
|
AZIMUTH
(degrees)
|
ASSAY
(oz per ton/feet)
|
50-1242
|
New South HW
New South
Incl.
and
and
and
and
|
2820.6
2658.2
2658.2
2661.7
2663.4
2664.2
2668.7
|
2824.5
2670.7
2660.2
2663.4
2664.2
2666.7
2670.7
|
-14.5
|
098
|
2..10/3.9? CL=0.9? TW, VG, Tell
6..24/12.5? CL=3.0? TW, Uncut
4..82/12.5? CL=3.0? TW, Cut**
7..46/2.0? CL=0.5? TW, VG, Tell
5..59/1.7? CL=0.4? TW
28.79/0.8? CL=0.2? TW, VG, Tell
7..19/2.5? CL=0.6? TW, VG, Tell
6..09/2.0? CL=0.5? TW, VG, Tell
|
50-1153
|
New South
Incl.
and
and
New South FW
Incl.
and
|
2667.5
2680.7
2682.2
2688.0
2609.5
2609.5
2618.4
|
2689.0
2682.2
2683.2
2689.0
2620.6
2610.9
2619.4
|
-15.8
|
104.7
|
0..77/21.5? CL=5.5? TW
2..16/1.5? CL=0.4? TW, VG
2..00/1.0? CL=0.3? TW, VG
4..82/1.0? CL=0.3? TW, VG, Tell
1..28/11.1? CL=2.8? TW, Uncut
1..09/11.1? CL=2.8? TW, Cut*
3..02/1.4? CL=0.4? TW
5..60/1.0? CL=0.3? TW, VG, Tell
|
50-1153W1
|
New South
|
2258.0
|
2259.7
|
-15.8
|
104.7
|
0..10/1.7? CL=TW N/C
|
53-1502
|
New South HW
New South
|
363.6
394.4
|
366.0
396.4
|
-70
|
304
|
0..01/2.4? CL=TW NC
0..20/2.0? CL= TW N/C
|
53-1503
|
New South
Incl.
New South FW
|
445.8
449.0
479.1
|
450.0
450.0
483.0
|
-28
|
320
|
0..43/4.2? CL=3.3? TW
1..17/1.0? CL=0.8 ?TW, VG
0..03/3.9? CL=TW N/C
|
53-1504
|
New South HW
New South
Incl.
New South FW
|
401.8
419.2
419.2
433.2
|
403.3
426.2
420.7
435.1
|
-43
|
331
|
4..19/1.5? CL=1.2? TW, Uncut
3..5/1.5? CL=1.2? TW, Cut*
1..70/7.0? CL=6.4? TW
4..22/1.5? CL=1.4? TW, VG
0..20/1.9? CL=TW NC
|
53-1505
|
New South HW
New South
|
394.0
447.0
|
395.0
450.5
|
-78
|
006
|
0..65/1.0? CL=TW NC
0..19/3.5? CL=TW NC
|
53-1519
|
New South
Incl.
New
New South FW
|
476.5
477.7
500.0
513.5
|
479.1
479.1
503.0
520.0
|
-54
|
010
|
1..11/2.6? CL=1.9? TW
1..87/1.4? CL=1.0? TW
0..74/3.0? CL=??? TW
0..07/6.5? CL=TW NC
|
53-1520
|
New South HW
New South
|
488.5
507.4
|
491.0
508.4
|
-28
|
335
|
0..02/2.5? CL=TW N/C
0..05/1.0? CL=TW N/C
|
53-1521
|
New South HW
New South
|
494.0
531.0
|
498.2
533.0
|
-18
|
320
|
0..04/4.2? CL=TW N/C
0..04/2.0? CL=TW N/C
|
53-1522
|
New South HW
New South
|
562.7
588.2
|
564.8
590.0
|
-18
|
335
|
0..07/2.1? CL= TW N/C
0..04/1.8? CL=TW N/C
|
53-1523
|
New South HW
New South
|
478.0
639.7
|
479.0
641.2
|
-17
|
346
|
0..04/1.0? CL= TW N/C
0..10/1.5? CL= TW N/C
|
53-1524
|
New South
|
424.9
|
425.9
|
-26
|
350
|
0..02/1.0? CL= TW N/C
|
53-1561
|
New South HW
New South
Incl.
and
|
380.0
410.0
410.0
413.1
|
381.0
415.4
411.0
415.4
|
-75
|
331
|
0..02/1.0? CL= TW NC
1..12/5.4? CL=5.1? TW
1..65/1.0? CL=0.9? TW, VG
1..91/1.0? CL=0.9? TW, VG, Tell
|
53-1562
|
New South HW
New South
Incl.
and
and
New South FW
|
471.2
493.7
493.7
496.7
504.0
526.5
|
475.2
508.0
495.7
498.7
506.2
530.5
|
-43
|
357
|
NSV
2..39/14.3? CL=9.8? TW
2..14/2.0? CL=1.4? TW, VG, Tell
3..21/2.0? CL=1.4? TW
6..92/2.2? CL=1.5? TW, VG, Tell
0..38/4.0? CL=1.4? TW
|
53-1563
|
New South HW
Incl.
and
New South
Incl.
|
432.0
432.0
435.5
459.7
460.8
|
441.0
433.0
437.5
470.0
462.5
|
-46
|
353
|
1..92/9.0? CL=6.5? TW, Uncut
1..20/9.0? CL=6.5?TW, Cut*
2..53/1.0? CL=0.7? TW, VG, Tell
6..74/2.0? CL=1.4? TW, VG, Tell
0..99/10.3? CL=7.4? TW
2..28/1.7? CL=1.2? TW
|
TW = True Width, CL = Core Length, VG
= Visible Gold, Tell = Tellurides, *Cut = cut to 3.5 opt,
**Cut = cut to 7.2 opt ?? TW = Unknown True Width, TW
NC = True Width Not Calculated
The following table summarizes the latest
drilling results (Metric values)
DRILL
HOLE No.
|
ZONE
|
FROM
(m)
|
TO
(m)
|
HOLE
DIP
(degrees)
|
AZIMUTH
(degrees)
|
ASSAY
(grams per tonne/m)
|
50-1242
|
New South HW
New South
Incl.
and
and
and
and
|
859.7
810.2
810.2
811.3
811.8
812.0
813.4
|
860.9
814.0
810.8
811.8
812.0
812.8
814.0
|
-14.5
|
098
|
72.00/1.2m CL=0.3m TW, VG, Tell
213.94/3.8m CL=0.9m TW, Uncut
165.26/3.8m CL=0.9m TW, Cut**
255.77/0.6m CL=0.2m TW, VG,
191.66/0.5m CL=0.1m TW
987.09/0.2m CL=0.1m TW, VG,
246.52/0.8m CL=0.2m TW, VG,
208.80/0.6m CL=0.2m TW, VG,
|
50-1153
|
New South
Incl.
and
and
New South FW
Incl.
and
|
813.1
817.1
817.5
819.3
795.4
795.4
798.1
|
819.6
817.5
817.8
819.6
798.8
795.8
798.4
|
-15.8
|
104.7
|
26.40/6.5m CL=1.7m TW
74.06/0.4m CL=0.1m TW, VG
68.57/0.3m CL=0.1m TW, VG
165.26/0.3m CL=0.1m TW, VG, Tell
43.89/3.4m CL=0.9m TW, Uncut
37.37/3.4m CL=0.9m TW, Cut*
103.54/0.4m CL=0.1m TW
192.00/0.3m CL=0.1m TW, VG, Tell
|
50-1153W1
|
New South
|
688.2
|
688.8
|
-15.8
|
104.7
|
3..43/0.6m CL=TW N/C
|
53-1502
|
New South HW
New South
|
110.8
120.2
|
111.6
120.8
|
-70
|
304
|
0..30/0.8m CL=TW NC
6..86/0.6m CL= TW N/C
|
53-1503
|
New South
Incl.
New South FW
|
135.9
136.9
146.0
|
137.2
137.2
147.2
|
-28
|
320
|
14.74/1.3m CL=1.0m TW
40.11/0.3m CL=0.2m TW, VG
1..02/1.2m CL=TW N/C
|
53-1504
|
New South HW
New South
Incl.
New South FW
|
122.5
127.8
127.8
132.0
|
122.9
129.9
128.2
132.6
|
-43
|
331
|
143.66/0.4m CL=0.4m TW, Uncut
120.0/0.4m CL=0.4m TW, Cut*
58.29/2.1m CL=2.0m TW
144.69/0.4m CL=0.4m TW, VG
6..86/0.6m CL=TW NC
|
53-1505
|
New South HW
New South
|
120.1
136.2
|
120.4
137.3
|
-78
|
006
|
22.29/0.3m CL=TW NC
6..51/1.1m CL=TW NC
|
53-1519
|
New South
Incl.
New
New South FW
|
145.2
145.6
152.4
156.5
|
146.0
146.0
153.3
158.5
|
-54
|
010
|
380.06/0.8m CL=0.6m TW
64.11/0.4m CL=0.3m TW
25.37/0.9m CL=??m TW
2..40/2.0m CL=TW NC
|
53-1520
|
New South HW
New South
|
148.9
154.7
|
149.7
155.0
|
-28
|
335
|
0..69/0.8m CL=TW N/C
1..71/0.3m CL=TW N/C
|
53-1521
|
New South HW
New South
|
150.6
161.8
|
151.9
162.5
|
-18
|
320
|
1..37/1.3m CL=TW N/C
1..37/0.7m CL=TW N/C
|
53-1522
|
New South HW
New South
|
171.5
179.3
|
172.2
179.8
|
-18
|
335
|
2..40/0.7m CL=TW N/C
1..37/0.5m CL=TW N/C
|
53-1523
|
New South HW
New South
|
145.7
195.0
|
146.0
195.4
|
-17
|
346
|
1..37/0.3m CL=TW N/C
3..43/0.4m CL=TW N/C
|
53-1524
|
New South
|
129.5
|
129.8
|
-26
|
350
|
0..69/0.3m CL=TW N/C
|
53-1561
|
New South HW
New South
Incl.
and
|
115.8
125.0
125.0
125.9
|
116.1
126.6
125.3
126.6
|
-75
|
331
|
0..69/0.3m CL=TW NC
38.40/1.6m CL=1.6m TW
56.57/0.3m CL=0.3m TW, VG
65.49/0.3m CL=0.3m TW, VG, Tell
|
53-1562
|
New South HW
New South
Incl.
and
and
New South FW
|
143.6
150.5
150.5
151.4
153.6
160.5
|
144.8
154.8
151.1
152.0
154.3
161.7
|
-43
|
357
|
No Significant Values
81.94/4.3m CL=3.0m TW
73.37/0.6m CL=0.4m TW, VG, Tell
110.06/0.6m CL=0.4m TW
237.26/0.7m CL=0.5m TW, VG, Tell
13.03/1.2m CL=0.4m TW
|
53-1563
|
New South HW
Incl.
and
New South
Incl.
|
131.7
131.7
132.7
140.1
140.5
|
134.4
132.0
133.4
143.3
141.0
|
-46
|
353
|
65.83/2.7m CL=2.0m TW, Uncut
41.14/2.7m CL=2.0m TW, Cut*
86.74/0.3m CL=02m TW, VG, Tell
231.09/0.7m CL=0.4m TW, VG, Tell
33.94/3.2m CL=2.3m TW
78.17/0.5m CL=0.4m TW
|
|
|
|
|
|
|
|
|
TW = True Width, CL = Core Length, VG
= Visible Gold, Tell = Tellurides *CUT = cut to 120.0 grams/tonne,
**Cut = 247.0 grams/tonne ?? TW
= Unknown True Width, TW NC = True Width Not Calculated
About the Company
The Company purchased the Macassa Mine and the 1,450
ton per day mill along with four former producing gold properties ? Kirkland
Lake, Teck-Hughes, Lake Shore and Wright Hargreaves ? in December 2001. These
properties, which have historically produced some 22 million ounces of gold,
extend over seven kilometres between the Macassa Mine to the west and Wright
Hargreaves to the east and, for the first time, are being developed and
explored under one owner. This camp is located in the Southern Abitibi
Greenstone Belt of Kirkland Lake, Ontario, Canada.
The results of the Company?s underground diamond
drilling program have been reviewed, verified (including sampling, analytical
and test data) and compiled by the Company's geological staff (which includes a
?qualified person?, Stewart Carmichael P.Geo., the Company?s Chief Exploration
Geologist, for the purpose of National Instrument 43-101, Standards of
Disclosure for Mineral Projects, of the Canadian Securities
Administrators). Mr. Carmichael also supervised the preparation of the
information that forms the basis of the technical disclosure in this release.
The Company
has implemented a quality assurance and control (QA/QC) program to ensure
sampling and analysis of all exploration work is conducted in accordance with
the best possible practices. The drill core is sawn in half with one half of
the core samples shipped to Swastika Laboratories in Swastika, Ontario, or to
Polymet Resources Inc. in Cobalt, Ontario. The other half of the core is
retained for future assay verification. Other QA/QC includes the insertion of
blanks, and the regular re-assaying of pulps and rejects at alternate certified
labs. Gold analysis is conducted by fire assay using atomic absorption or
gravimetric finish. The laboratory re-assays at least 10% of all samples and
additional checks may be run on anomalous values.
The Company?s Macassa Mine
Property is the subject of reserve reports prepared by Glenn R. Clark, P.Eng.
entitled:
?
Review of Resources and Reserves
of Macassa Mine, Kirkland Lake, Ontario dated July 15, 2008.
?
Review of Resources and Reserves
of Macassa Mine, Kirkland Lake, Ontario dated July 16, 2009
Both of these technical reports have been filed on
SEDAR (www.sedar.com).
For further information,
please contact:
Brian Hinchcliffe
President
Phone: 1 705 567
5208
Fax: 1
705 568 6444
E-mail: bhinchcliffe@klgold.com
Lindsay Carpenter
Director of Investor Relations
Phone: 416-840-7884
E-mail: lcarpenter@klgold.com
|
|
Pelham Bell Pottinger
Klara Kaczmarek
Phone: +44 207 861 3883
E-mail:
Kkaczmarek@pelhambellpottinger.co.uk
Guy Wilkes
Ocean Equities Ltd.
Phone +44 207 786 4370
Phone: +44 207 786 4370
E-mail: guy.wilkes@oceanequities.co.uk
|
NOMAD: Panmure Gordon (UK) Limited
Dominic Morley /
Callum Stewart.
Phone: +44 207 459 3600
E-mail: dominic.morley@panmure.com
|
Website- www.klgold.com
|
Neither the Toronto Stock Exchange nor the AIM Market of the London
Stock Exchange has reviewed and neither accepts responsibility for the adequacy
or accuracy of this news release.
Cautionary Note Regarding Forward Looking Statements
This Press Release may contain statements which constitute
?forward-looking, including statements regarding the plans, intentions, beliefs
and current expectations of the Company, its directors, or its officers with
respect to the future business activities and operating performance of the
Company. The words ?may?, ?would?, ?could?, ?will?, ?intend?, ?plan?,
?anticipate?, ?believe?, ?estimate?, ?expect? and similar expressions, as they
relate to the Company, or its management, are intended to identify such
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future business activities or
performance and involve risks and uncertainties, and that the Company?s future
business activities may differ materially from those in the forward-looking
statements as a result of various factors. Such risks, uncertainties and
factors are described in the periodic filings with the Canadian securities
regulatory authorities, including the Company?s Annual Information Form and
quarterly and annual Management?s Discussion & Analysis, which may be
viewed on SEDAR at www.sedar.com. Should
one or more of these risks or uncertainties materialize, or should assumptions
underlying the forward-looking statements prove incorrect, actual results may
vary materially from those described herein as intended, planned, anticipated,
believed, estimated or expected. Although the Company has attempted to identify
important risks, uncertainties and factors which could cause actual results to
differ materially, there may be others that cause results not be as
anticipated, estimated or intended. The Company does not intend, and does not
assume any obligation, to update these forward-looking statements.