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Kirkland Lake Discoveries Commences Drilling at Hargreaves Historical Shaft and Follows-up on Jo Zone Footwall Intercept of 1.22 g/t Au over 74 m on KL West
Toronto, Ontario--(Newsfile Corp. - November 19, 2024) - Kirkland Lake Discoveries (TSXV: KLDC) (OTC Pink: KLKLF) ("Kirkland Lake Discoveries" or the "Company") is pleased to announce the commencement of drilling at the Kirkland Lake Project on the KL West Property. Drilling will total approximately 1,500 m.
The fall 2024 drill program will be testing two areas:
Hargreaves Historical Shaft and Area
Jo Zone Footwall
Hargreaves Historical Shaft and Area
The Hargreaves shaft and area (Figure 1) is hosted by Timiskaming sediments and conglomerates intruded by feldspar porphyry. It is located in close proximity to the Kirkland Lake Main Break, the same structure and geology responsible for the mile of seven mines in Kirkland Lake that hosted over 28 Moz of gold. Hargreaves is a historical shaft that was sunk to 162 feet (49.4 m) in 1928. A crosscut to the vein was established in 1934 and in 1936 the shaft deepened to the 300-foot level (91.4 m). An eight-foot wide (2.44 m) south-dipping "vein" is said to have been intersected in underground development. Persistent rumours that high-grade gold was discovered cannot be substantiated (Sogemines' report, 1959). The area features a significant concentration of historical pits and trenches.
Figure 1 - Historical Hargreaves and Kirgood Shafts underlain with LiDAR, bedrock geology, IP anomalies, structures, soil samples, gold showings, historical drill holes and planned drillholes.
Historical work on Hargreaves includes IP ground geophysical surveys, detailed geological mapping, soil sampling and surface sampling, but limited drilling. Only two drill holes from 1937 with limited lithological detail indicate mineralization of up to 10.94 g/t over 0.3 m. The location of these holes is questionable. Three additional holes in 1988, between 148-165 m long, were drilled west of the shaft along the Ed Hargreaves shear zone but were drilled south on south-dipping stratigraphy.
The mineralized vein that was subject of the underground development will be drill tested at depth below the bottom of the shaft. Additional drilling will also be testing:
the contacts between the felsic tuff, feldspar porphyry, and conglomerate as well as a potential D2 fold axis
multiple interpreted cross-cutting structures across three different lithologies, as well as the Hargreaves shear zone at depth
the intersection of two different foliations at depth to determine if there is a folding of the shear zone
Jo Zone Footwall
The Jo Zone is located on the patented ground of the original Goodfish-Kirana claim group (Figure 2). The Jo Zone shear has a strike length of 650 m with mineralization to a vertical depth of 375 m. Anomalous and high-grade gold has been intersected in 88% of drill holes. Notably, drill hole GK21-050 intersected visible gold at 419.3 m, assaying 72.10 g/t Au in one half of the core and 561 g/t Au in the other half over 0.50 meters, marking the highest assay to date on the Goodfish-Kirana Project.
Figure 2 - Cross section of Jo Zone looking southeast. Intersection of mineralized veins from GK20-028 appear to be flat lying, suggesting it may not have been intersected at an optimal angle. Upcoming drilling will target these veins along strike and at a steeper angle to improve intersection quality.
Hole GK20-028 from a 2020 drill program intersected 1.22 g/t Au over 74 m starting at 87 m depth. This near surface intersection lies in the footwall to the Jo Zone and is interpreted to be an extensional vein system that has yet to be followed up on. The fall 2024 drill program is designed to investigate this gold mineralization along strike and at depth.
QP Statement
The technical information contained in this news release has been approved by Mike Kilbourne, P.Geo. who is a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Kirkland Lake Discoveries Corp.
Kirkland Lake Discoveries Corp. is a TSX Venture Exchange-listed company that has recently consolidated a district-scale, highly prospective land package in the Kirkland Lake Gold Camp in Ontario, Canada. The properties are situated within the Abitibi Greenstone Belt, one of the world's most richly endowed greenstone belts, with over 200 million ounces of gold produced to date.1
The Company's properties host regional and property-scale mineralized structures, considered second-order structures off the Larder Lake Cadillac Deformation Zone (LLCDZ), a major regional structure known for its spatial association with gold mines in the camp.
The properties assembled by the Company are grouped into two key areas: KL East, which includes the Lucky Strike Property, Arnold Property, and KL Central, and KL West, which encompasses the Goodfish-Kirana and the KL West Properties. KLDC's land position spans approximately 38,000 ha over 1,338 claims and 29 patented claims, making the Company the largest landholder in the Kirkland Lake region.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of Kirkland Lake Discoveries, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's three-phase drill program, the results thereof, and any impact therefrom. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Kirkland Lake Discoveries, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work, the results of exploration, continued availability of capital, changes in general economic, market and business conditions, and the ability to obtain any requisite approvals. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Kirkland Lake Discoveries does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
