Kirkland Lake Gold Inc.: Drill Hole 50-743W to the South Returns 1.58 Ounces of Gold over 66.1 Feet 'Uncut'; Potential Strike Length of New South Zone Now in Excess of 1,400 Feet
KIRKLAND LAKE, ONTARIO, Jan 16, 2007 (CCNMatthews via COMTEX News Network) --
Kirkland Lake Gold Inc. (TSX:KGI)(AIM:KGI) (the "Company") is pleased to announce an update on exploration drilling testing the new, high grade ore system to the south of the existing mine.
The Company has received assays for nineteen drill holes testing mineralization south of the mine workings. The Company continues to intersect multiple zones of mineralization both above and below the 5300 level cross cut and has expanded the dimensions of the New South Zone.
Of considerable importance are the intersections in drill holes 50-743W and 53-527. Drill 50-743W assayed 1.58 ounces of gold per ton ("opt") uncut (0.71 opt cut) over a core length of 66.1 feet and represents the furthest east intersection to date on the New South Zone. Drill hole 53-527 assayed 0.84 opt uncut (0.56 opt cut) over a core length of 17.6 feet. This represents the furthest west intersection to date on what is interpreted to be the New South Zone. It has extended the potential strike length of the New South Zone to 1,400 feet.
Drill hole 53-531 has returned multiple ore grade intersections above the 5300 level. The "White Zone" intersection, which assayed 2.06 opt uncut (1.40 opt cut) over a core length of 17.1 feet indicates a localized widening of the zone, which appears to be the junction point of the New South Zone and the White Zone approximately 100 feet above the 5300 level.
"Drilling continues the expansion of all zones in the new system to the south of the workings." said Duncan Middlemiss, the Company's newly appointed Mine Manager. "Development on some of these ore zones is now proceeding in order to ascertain continuity and grade, and for bulk sampling purposes, which will allow for higher grade gold production options in the future"
Highlights of the current results:
- Drill 50-743W assayed 1.58 opt uncut (0.71 opt cut) over a core length of 66.1 feet. The intersection is located 110 feet east of previously released drill hole 50-732 which assayed 0.96 opt over a core length of 47.6 feet. (See press release dated October 24, 2006.)
- Drill hole 53-527 has intersected two parallel mineralized zones. The first zone from 547.0 to 590.5 feet assayed 0.30 opt over 43.5 feet and is interpreted to represent a new footwall zone to the New South Zone. The second zone from 661.4 to 679.0 feet assayed 0.84 opt uncut (0.56 opt cut) over a core length of 17.6 feet and is interpreted to be the New South Zone. Both intersections show good correlation with previously released drill hole 53-461 which assayed 0.36 opt over a core length of 12.2 feet and 1.27 opt over a core length of 3.0 feet. The intersections in 53-527 are 120 feet down dip of the respective intersections in 53-461. (See press release dated August 10, 2006.) (see figure 1)
- The "White Zone" intersection in drill hole 53-531 which assayed 2.06 opt uncut (1.40 opt cut) over a core length of 17.1 feet appears to represent the junction point between the White Zone and the New South Zone. This is a similar situation to the intersection in previously released drill hole 53-495 which assayed 1.99 opt uncut (1.58 opt cut) over a core length of 25.2 feet. (See press release dated December 14, 2006.) Both intersections in holes 53-531 and 53-495 are located approximately 100 feet above the level and they are 150 feet laterally from each other. (See figure 2.)
- The Lower D North intersections in both drill holes 53-528 and 53-530 (2.83 opt over 6.1 feet core length and 3.61 opt over 5.0 feet core length) were drilled from the existing Lower D North Footwall drift, and are the extensions of the zone which was recently drifted on; they do not represent the true width of the full zone at this location.
- Early intersections in drill holes 53-513 (14.0 to 26.0 feet) and 53-514 (22.7 to 54.5 feet) which assayed 1.85 opt over a core length of 12.0 feet of core length and 1.80 opt over a core length of 31.8 feet, respectively, show localized extensive mineralization spanning the Lower D North Footwall and the Lower D North zones.
- Lower D North intersections in drill holes 53-513, 514, 515, 528, 530 and 531 are close spaced and cover approximately 50 feet in the dip component as they were targeting other zones including the White, New South and YYZ.
The diagrams referred to in this release may be viewed at the Company's website, www.klgold.com and will provide context to the above statements.
Figure 1 is a plan view showing some of the latest drill hole results.
Figure 2 is a composite section showing some of the latest drill hole results.
(To view Figure 1 and Figure 2, please click on the following link: ccnmatthews.com
A full listing of the nineteen drill holes may be viewed on the Company's website.
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