Kirkland Lake Gold Expands Recently Discovered High-Grade Mineralization Along Amalgamated Break and Extends South Mine Complex at Macassa Mine

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Algemeen advies 11/12/2019 06:47
Drilling along Amalgamated Break and West SMC expands areas of high-grade mineralization

> Key intercepts: 58.3 g/t over 2.0 m core length, incl. 128.2 g/t over 0.9 m
49.1 g/t over 2.0 m core length, incl. 106.6 g/t over 0.9 m
40.3 g/t over 2.7 m core length, incl. 84.4 g/t over 0.6 m
32.5 g/t over 3.5 m core length, incl. 73.2 g/t over 0.7 m
30.7 g/t over 2.1 m core length, incl. 50.7 g/t over 1.2 m
29.4 g/t over 3.4 m core length, incl. 64.4 g/t over 1.3 m
12.1 g/t over 12.8 m core length

• Drilling at South Mine Complex (“SMC”) East extends high-grade mineralization additional 75 m

> Key intercepts: 30.1 g/t over 2.0 m core length, incl. 129.3 g/t over 0.5 m
13.1 g/t over 2.0 m core length, incl. 82.5 g/t over 0.3 m
11.1 g/t over 2.0 m core length, incl. 47.4 g/t over 0.5 m
9.9 g/t over 2.0 m core length, incl. 28.8 g/t over 0.7 m

• Infill drilling at SMC East confirms continuity of high-grade mineralization outside of existing Mineral Resource
> Key intercepts: 50.8 g/t over 2.4 m core length, incl. 152.5 g/t over 0.6 m
47.7 g/t over 2.0 m core length, incl. 278.5 g/t over 0.3 m
27.4 g/t over 2.0 m core length, incl. 126.8 g/t over 0.4 m
17.9 g/t over 2.1 m core length

TORONTO, Dec. 10, 2019 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today reported new drill results from underground exploration drilling at the Macassa Mine in Kirkland Lake, Ontario. The new results include 45 drill holes (15,238 m) of drilling from the east and west exploration drifts on the 5300-foot level (“5300 Level”) as well as from the 5600-foot level Ramp Development (“5600 Ramp”). Results being reported today are from three underground drill rigs focused on targeting the Amalgamated Break as well as the SMC West and East. Drilling will continue through the remainder of 2019.

A total of 27 drill holes for 6,664 m were drilled south from the 5300 Level west exploration drift and an additional 3 drill holes for 1,128 m of drilling were completed from the 5600 Ramp targeting mineralization associated with the Amalgamated Break (Figure 2). The new drill results confirm and build upon the results reported from this area as highlighted in the Company’s May 2, 2019 and September 16, 2019 news releases and has resulted in new intersections 35 m west of the previously released intercepts, as well as numerous high-grade infill intercepts. An additional 15 drill holes for 7,446 m were drilled from the 5300 Level east exploration drift targeting the SMC East (Figure 3) to follow up on previously released positive results. The new drilling further extended the high-grade mineralization by 75 m to the east of the SMC and confirmed the continuity of known mineralization outside of existing Mineral Resources.

Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “Today’s results highlight the substantial exploration potential along the Amalgamated Break and further increase our confidence that we can significantly grow the SMC. The new intersections along the Amalgamated Break both confirm and expand the known areas of high-grade mineralization in this very high-potential area. We have already identified two key areas of high-grade mineralization associated with the Amalgamated Break and will continue to drill to extend these areas and explore for new high-grade zones. At the SMC, we previously announced that we had intersected high-grade mineralization close to 300 m to the west and 200 m to the east of current Mineral Resources and have since extended the known mineralization to the east another 75 m. We have also established the continuity of mineralization to the east with a number of new high-grade intersections from infill drilling. Going forward, we will continue to drill along the Amalgamated Break, which has both significant near and longer-term exploration potential, and will also work to further extend high-grade mineralization around the SMC as part of our work to replace and grow Mineral Reserves and Mineral Resources at Macassa.”

Amalgamated Break and SMC West

A total of 30 holes for 7,792 m of drilling is being reported from drilling off of the 5300 Level west exploration drift and the 5600 Ramp targeting the Amalgamated Break near the merge point of the SMC (Figures 1 and 2). The current phase of the exploration drilling program was designed to extend the known limits of the mineralization associated with the Amalgamated Break as well as infill previously tested areas with tighter spaced drilling to aid in the interpretation of the geometry of the mineralization. The program has been successful in intersecting additional high-grade mineralization in both regards. Drill holes of note in this area include: 32.5 g/t over 3.5 m core length in Hole 53-3916, 40.3 g/t over 2.7 m core length in Hole 53-3917 and 12.1 g/t over 12.8 m core length in Hole 53-3918A. Further drilling and interpretation work are necessary to confirm geometries of individual intercepts. Refer to Table 1 for a completed list of drill hole results. The Amalgamated Break has been largely untested and represents an important emerging exploration target which remains open and represents a highly prospective target area for the addition of new Mineral Resource ounces. Drilling to follow up on the down dip and eastern and western extent of this mineralization will continue into 2020.

SMC East

A total of 15 holes for 7,446 m of drilling is being reported from drilling off of the 5300 Level east exploration drift targeting the SMC East (Figure 3). The current phase of the exploration drilling program was designed to extend the known limits of the SMC East as well as infill previously tested areas with tighter spaced drilling to support potential resource growth. The program has proven successful in extending the known high-grade mineralization envelope an additional 75 m east of previously released intercepts (see news release dated September 16, 2019) as well as confirming continuity of the known mineralization with the addition of several high-grade infill intercepts. Drill holes of note in this area include: 50.8 g/t over 2.4 m core length in Hole 53-3927, 47.7 g/t over 2.0 m core length in Hole 53-3926 and 30.1 g/t over 2.0 m core length in Hole 53-3888. The shallow dipping SMC East horizon continues to deliver positive results and remains one of the key target areas to support resource growth and future mining opportunities for #4 Shaft. Drilling on the SMC East from the 5300 Level east exploration drift will continue for the remainder of the year.

To view the figures accompanying the press release, please click on the following links:

Figure 1. Plan View – Amalgamated Break
https://www.globenewswire.com/NewsRoom/AttachmentNg/d52575fa-5933-40ed-b0ff-fa67b942b293


Figure 2. Cross Section – Amalgamated Break Looking Southwest
https://www.globenewswire.com/NewsRoom/AttachmentNg/b9b8e7cf-3a95-4638-856d-e6c25e01bc5b

Figure 3. Plan View – SMC East
https://www.globenewswire.com/NewsRoom/AttachmentNg/c7646520-e86f-4725-8fd3-eeb00658065a

2019 Underground Exploration Development

Underground development on the 5300 Level has been ongoing throughout 2019 including advances both to east and to the west and the excavation of diamond drill platforms. This development is part of an ongoing effort to expand the SMC and Amalgamated Break in all directions and to test for, and define, new target areas.

Qualified Person

The Company’s exploration programs at Macassa are conducted under the supervision of Eric Kallio, P.Geo., Senior Vice President, Exploration. Eric Kallio is the ‘qualified person’ for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators, and has reviewed and approved the scientific and technical information in this news release.

For further information regarding the Company’s 2018 Mineral Reserves and Mineral Resources estimates for the Macassa Mine, please refer to the Company’s news release dated February 21, 2019 and the Technical Report entitled “Macassa Property, Ontario, Canada, Updated NI 43-101 Technical Report”.

QA/QC Controls

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 best practices. The drill core is sawn in half with one half of the core samples shipped to Swastika Laboratories in Swastika, Ontario. The other half of the core is retained for future assay verification. Other QA/QC includes the insertion of certified reference standards, 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.

About Kirkland Lake Gold Ltd.

Kirkland Lake Gold Ltd. is a growing gold producer operating in Canada and Australia that produced 723,701 ounces in 2018 and is on track to achieve significant production growth over the next three years, including target production of 950,000 – 1,000,000 ounces in 2019, 930,000 – 1,010,000 ounces in 2020 and 995,000 – 1,055,000 ounces in 2021. The production profile of the Company is anchored by two high-grade, low-cost operations, including the Macassa Mine located in Northern Ontario and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold's solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management and operational expertise.

For further information on Kirkland Lake Gold and to receive news releases by email, visit the website www.klgold.com



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