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Market Cap
£91.56m
Change Today
0.000p ()
Share Price
165.00p
Drilling Report
FOR: KIRKLAND LAKE GOLD INC.
TSX, AIM SYMBOL: KGI
September 30, 2008
KL Gold: Drilling in the South Mine Complex Continues to Return High-Grade Intersections; Drill Hole 53-1028
Returns 4.14 Ounces of Gold Over 13.3 Feet on New Zone Related to Lower D North
KIRKLAND LAKE, ONTARIO--(Marketwire - Sept. 30, 2008) - Kirkland Lake Gold Inc. (Company) (TSX:KGI)(AIM:KGI) is
pleased to announce an update on exploration drilling testing in the South Mine Complex (SMC). The SMC consists
of 15 or more mineralized zones. Exploration drilling continues to extend previously defined mineralization and
intersect new zones. Recent drilling has expanded the YYZ zone and intersected a new mineralized zone related
to the Lower D North zone.
"We had been testing a portion of the central area of the South Mine Complex below the 5400 foot elevation and
intersected two new mineralized zones located between the Lower D North and Lower D North Footwall Zones," said
Stewart Carmichael, Chief Exploration Geologist. He added, "Further definition drilling in this complex area of
the SMC will be required to verify geometry and continuity."
The highlights of this recent drilling include:
- Drill hole 53-1028 has intersected a new zone initially interpreted as being a 47 degree dipping footwall
splay to the Lower D North zone. The drill hole returned 4.14 ounces of gold per ton (opt) uncut or 0.60 opt
cut over a true width of 13.3 feet and included 55.08 opt over a true width of 0.9 feet. Drill hole 53-1121
intersected the same new zone 80 feet down-dip of hole 53-1028 and assayed 5.11 opt over a true width of 1.0
feet.
- This new zone appears to merge with the Lower D North at the -5430 elevation with the merger point indicated
in drill hole 53-1035 which assayed 0.68 opt over a true width of 7.2 feet. A second zone is also present,
located 25 to 30 feet below the above described mineralization has been intersected in drill holes 53-1027
(1.24 opt over 8.4 feet true width), 53-1122 (3.17 opt over a true width of 1.6 feet) and 53-1123 (3.46 opt
over a true width of 1.6 feet).
- Three new intersections on the YYZ zone have been returned, including drill hole 53-1030 which assayed 5.05
opt (uncut) or 1.72 opt (cut) over a true width of 7.4 feet which included 6.17 opt over a true width of 1.5
feet and 7.23 opt over a true width of 1.5 feet. This intersection is located 140 feet up-dip of previously
released drill hole 53-482 which assayed 9.60 opt over a core length of 10.7 feet and included 41.08 opt over a
core length of 2.1 feet (see press release dated October 3, 2006). The strike length of this zone has been
extended to 400 feet, centered at the -5400 foot elevation and remains open to the east and up-dip to the -5300
level.
About the Company
The Company purchased the Macassa Mine and the 1,500 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 on the west and Wright Hargreaves on the east and, for the first time, are being developed and
explored under one owner. This camp is located in the Abitibi Southern 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 the Swastika Laboratories in Swastika, Ontario, Polymet
Resources Inc. in Cobalt, Ontario or to the Macassa mine laboratory for analysis. 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 the New South Mine Complex, Macassa Mine, Kirkland Lake, Ontario dated
August 25, 2007.
- Review of Resources and Reserves of Macassa Mine, Kirkland Lake, Ontario dated July 15, 2008.
Both of these technical reports have been filed on SEDAR (www.sedar.com).
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Kirkland Lake Gold Inc.
Brian Hinchcliffe
President
(705) 567-5208
(705) 568-6444 (FAX)
Email: bhinchcliffe@klgold.com
OR
Kirkland Lake Gold Inc.
Scott Koyich
Investor Relations
(403) 215-5979
Email: info@klgold.com
Website: www.klgold.com
OR
Pelham Public Relations
Chelsea Hayes
+44 20 7743 6675
Email: chelsea.hayes@pelhampr.com
OR
NOMAD: Panmure Gordon (UK) Limited
Katherine Roe / Ashton Clanfield
+44 20 7459 5744
Email: katherine.roe@panmure.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.
© 2007 - Marketwire
TSX, AIM SYMBOL: KGI
September 30, 2008
KL Gold: Drilling in the South Mine Complex Continues to Return High-Grade Intersections; Drill Hole 53-1028
Returns 4.14 Ounces of Gold Over 13.3 Feet on New Zone Related to Lower D North
KIRKLAND LAKE, ONTARIO--(Marketwire - Sept. 30, 2008) - Kirkland Lake Gold Inc. (Company) (TSX:KGI)(AIM:KGI) is
pleased to announce an update on exploration drilling testing in the South Mine Complex (SMC). The SMC consists
of 15 or more mineralized zones. Exploration drilling continues to extend previously defined mineralization and
intersect new zones. Recent drilling has expanded the YYZ zone and intersected a new mineralized zone related
to the Lower D North zone.
"We had been testing a portion of the central area of the South Mine Complex below the 5400 foot elevation and
intersected two new mineralized zones located between the Lower D North and Lower D North Footwall Zones," said
Stewart Carmichael, Chief Exploration Geologist. He added, "Further definition drilling in this complex area of
the SMC will be required to verify geometry and continuity."
The highlights of this recent drilling include:
- Drill hole 53-1028 has intersected a new zone initially interpreted as being a 47 degree dipping footwall
splay to the Lower D North zone. The drill hole returned 4.14 ounces of gold per ton (opt) uncut or 0.60 opt
cut over a true width of 13.3 feet and included 55.08 opt over a true width of 0.9 feet. Drill hole 53-1121
intersected the same new zone 80 feet down-dip of hole 53-1028 and assayed 5.11 opt over a true width of 1.0
feet.
- This new zone appears to merge with the Lower D North at the -5430 elevation with the merger point indicated
in drill hole 53-1035 which assayed 0.68 opt over a true width of 7.2 feet. A second zone is also present,
located 25 to 30 feet below the above described mineralization has been intersected in drill holes 53-1027
(1.24 opt over 8.4 feet true width), 53-1122 (3.17 opt over a true width of 1.6 feet) and 53-1123 (3.46 opt
over a true width of 1.6 feet).
- Three new intersections on the YYZ zone have been returned, including drill hole 53-1030 which assayed 5.05
opt (uncut) or 1.72 opt (cut) over a true width of 7.4 feet which included 6.17 opt over a true width of 1.5
feet and 7.23 opt over a true width of 1.5 feet. This intersection is located 140 feet up-dip of previously
released drill hole 53-482 which assayed 9.60 opt over a core length of 10.7 feet and included 41.08 opt over a
core length of 2.1 feet (see press release dated October 3, 2006). The strike length of this zone has been
extended to 400 feet, centered at the -5400 foot elevation and remains open to the east and up-dip to the -5300
level.
The following table summarizes the latest drilling program. (Imperial
values)
---------------------------------------------------------------------------
HOLE
DRILL FROM TO DIP AZIMUTH ASSAY
HOLE No. ZONE (feet) (feet) (degrees) (degrees) (oz per ton/feet)
---------------------------------------------------------------------------
53-1028 New Zone 668.1 682.7 -24 313 4.14/14.6' CL equals
13.3' TW, uncut
0.60/14.6' CL equals
13.3' TW, cut
Incl. 668.1 669.1 55.08/1.0' CL equals
0.9' TW, VG, tell
and 676.4 677.5 2.59/1.1'CL equals
1.0' TW
New Zone 707.0 711.9 0.47/4.9' CL equals
4.5' TW
---------------------------------------------------------------------------
53-1036 YYZ (?) 597.9 606.6 -14 324 0.52/8.7' CL equals
5.5' TW
Incl. 604.7 606.6 1.49/1.9' CL equals
1.2' TW
New 698.0 702.7 2.07/4.7' CL equals
TW unknown, uncut
1.03/4.7' CL equals
TW unknown, cut
Incl. 701.7 702.7 8.43/1.0' CL equals
TW unknown, VG
Lower D 719.4 724.7 0.33/5.3' CL equals
North 3.3' TW, VG
New Zone 759.8 760.8 1.18/1.0' CL equals
TW unknown
---------------------------------------------------------------------------
53-1123 New Zone 730.0 731.7 -31 303 3.46/1.7' CL equals
1.6' TW
---------------------------------------------------------------------------
53-1027 New Zone 718.5 727.5 -24 303 1.24/9.0' CL equals
8.4' TW, uncut
0.51/9.0' CL equals
8.4' TW, cut
Incl. 718.5 719.5 10.18/1.0' CL equals
0.9' TW, VG, tell
and 725.0 727.5 0.45/2.5' CL equals
2.3' TW
New Zone 734.4 738.4 0.40/4.0' CL equals
TW unknown
---------------------------------------------------------------------------
53-1121 New Zone 637.4 638.4 -32 313 5.11/1.0' CL equals
1.0' TW, VG
New Zone 697.5 702.3 0.15/4.8'CL equals
4.6' TW
---------------------------------------------------------------------------
53-1122 New Zone 738.0 739.7 -19 306 3.17/1.7' CL equals
1.6' TW, VG
New Zone 766.5 767.5 0.37/1.0' CL equals
TW unknown
---------------------------------------------------------------------------
53-1120 New Zone 730.9 732.0 -19 313 0.35/1.1' CL equals
1.0' TW
---------------------------------------------------------------------------
53-1034 New Zone 757.2 759.8 -14 303 1.01/2.6' CL equals
2.2' TW
---------------------------------------------------------------------------
53-1035 Lower D 743.0 751.9 -14 313 0.63/8.9' CL equals
North 7.2' TW
Incl. 743.0 744.0 1.58/1.0' CL equals
0.8' TW
and 750.9 751.9 2.36/1.0' CL equals
0.8' TW, VG
New Zone 791.5 794.3 0.36/2.8' CL equals
2.4' TW
---------------------------------------------------------------------------
53-1030 YYZ 867.2 879.2 -11 280 3.05/12.0' CL equals
7.4' TW, uncut
1.72/12.0' CL equals
7.4' TW, cut
Incl. 872.5 875.0 6.17/2.5' CL equals
1.5' TW, VG
and 876.7 879.2 7.23/2.5' CL equals
1.5' TW, VG
---------------------------------------------------------------------------
53-1031 YYZ 826.2 828.0 -12 284 1.23/1.8' CL equals
1.2' TW
Lower D 886.7 887.7 0.41/1.0' CL equals
North 0.7' TW
---------------------------------------------------------------------------
53-1144 YYZ 863.0 869.0 -7 306 0.61/6.0' CL equals
4.4' TW
Incl. 867.0 869.0 1.41/2.0' CL equals
1.5' TW
---------------------------------------------------------------------------
TW equals True Width
CL equals Core Length
VG equals Visible Gold
TELL equals Tellurides
CUT equals cut to 3.5 opt
The following table summarizes the latest drilling program results. (Metric
values)
---------------------------------------------------------------------------
HOLE
DRILL FROM TO DIP AZIMUTH ASSAY
HOLE No. ZONE (m) (m) (degrees) (degrees) (grams per tonne/m)
---------------------------------------------------------------------------
53-1028 New Zone 203.7 208.1 -24 313 141.94/4.4m CL equals
4.1m TW, uncut
20.57/4.4m CL equals
4.1m TW, cut
Incl. 203.7 204.0 1,888.47/0.3m CL
equals 0.3m TW, VG
and 206.2 206.6 88.80/0.4mCL equals
0.3m TW
New Zone 215.5 217.0 16.11/1.5m CL equals
1.4m TW
---------------------------------------------------------------------------
53-1036 YYZ (?) 182.3 184.9 -14 324 17.83/2.6m CL equals
1.7m TW
Incl. 184.4 184.9 51.09/0.5m CL equals
0.4m TW
New 212.8 214.2 70.97/1.4m CL equals
TW unknown uncut
35.31/1.4m CL equals
TW unknown, cut
Incl. 213.9 214.2 289.03/0.3m CL equals
TW unknown, VG
Lower D 219.3 220.9 11.31/1.6m CL equals
North 1.0m TW, VG
New Zone 231.6 232.0 40.46/0.4m CL equals
TW unknown
---------------------------------------------------------------------------
53-1123 New Zone 222.6 223.1 -31 303 118.63/0.5m CL equals
0.5m TW
---------------------------------------------------------------------------
53-1027 New Zone 219.1 221.8 -24 303 42.51/2.7m CL equals
2.6m TW, uncut
17.48/2.7m CL equals
2.6m TW, cut
Incl. 219.1 219.4 340.03/0.3m CL equals
0.3m TW, VG
and 221.0 221.8 15.43/0.8m CL equals
0.7m TW
New Zone 223.9 225.1 13.71/1.2m CL equals
TW unknown
---------------------------------------------------------------------------
53-1121 New Zone 194.3 194.6 -32 313 175.20/0.3m CL equals
0.3m TW, VG
New Zone 212.6 214.1 5.14/1.5m CL equals
1.4m TW
---------------------------------------------------------------------------
53-1122 New Zone 225.0 225.5 -19 306 108.69/0.5m CL equals
0.5m TW, VG
New Zone 233.7 234.0 12.69/0.3m CL equals
TW unknown
---------------------------------------------------------------------------
53-1120 New Zone 222.8 223.2 -19 313 12.00/0.4m CL equals
0.3m TW
---------------------------------------------------------------------------
53-1034 New Zone 230.9 231.6 -14 303 34.63/0.7m CL equals
0.7m TW
---------------------------------------------------------------------------
53-1035 Lower D 226.5 229.2 -14 313 21.60/2.7m CL equals
North 2.2m TW
Incl. 226.5 226.8 54.17/0.3m CL equals
0.2m TW
and 228.9 229.2 80.91/0.3m CL equals
0.2m TW, VG
New Zone 241.3 242.2 12.34/0.9m CL equals
0.7m TW
---------------------------------------------------------------------------
53-1030 YYZ 264.4 268.0 -11 280 104.57/3.6m CL equals
2.3m TW, uncut
58.97/3.6m CL equals
2.3m TW, cut
Incl. 266.0 266.8 211.54/0.8m CL equals
0.5m TW, VG
and 267.3 268.0 247.89/0.7m CL equals
0.5m TW, VG
---------------------------------------------------------------------------
53-1031 YYZ 251.9 252.4 -12 284 42.17/0.5m CL equals
0.4m TW
Lower D 270.3 270.6 14.06/0.3m CL equals
North 0.2m TW
---------------------------------------------------------------------------
53-1144 YYZ 263.1 264.9 -7 306 20.91/1.8m CL equals
1.3m TW
Incl. 264.3 264.9 48.34/0.6m CL equals
0.5m TW
---------------------------------------------------------------------------
TW equals True Width
CL equals Core Length
VG equals Visible Gold
TELL equals Tellurides
CUT equals cut to 120.0 gms/tonne
About the Company
The Company purchased the Macassa Mine and the 1,500 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 on the west and Wright Hargreaves on the east and, for the first time, are being developed and
explored under one owner. This camp is located in the Abitibi Southern 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 the Swastika Laboratories in Swastika, Ontario, Polymet
Resources Inc. in Cobalt, Ontario or to the Macassa mine laboratory for analysis. 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 the New South Mine Complex, Macassa Mine, Kirkland Lake, Ontario dated
August 25, 2007.
- Review of Resources and Reserves of Macassa Mine, Kirkland Lake, Ontario dated July 15, 2008.
Both of these technical reports have been filed on SEDAR (www.sedar.com).
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Kirkland Lake Gold Inc.
Brian Hinchcliffe
President
(705) 567-5208
(705) 568-6444 (FAX)
Email: bhinchcliffe@klgold.com
OR
Kirkland Lake Gold Inc.
Scott Koyich
Investor Relations
(403) 215-5979
Email: info@klgold.com
Website: www.klgold.com
OR
Pelham Public Relations
Chelsea Hayes
+44 20 7743 6675
Email: chelsea.hayes@pelhampr.com
OR
NOMAD: Panmure Gordon (UK) Limited
Katherine Roe / Ashton Clanfield
+44 20 7459 5744
Email: katherine.roe@panmure.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.
© 2007 - Marketwire