Kirkland Lake Gold Ltd. has received positive drilling results from the Cosmo Mine (Cosmo) in the Northern Territory (NT), Australia. A total of 65 holes for 23 553 m from underground diamond drilling and nine holes for 4184 m from surface drilling were completed to test the expansion potential of the Lantern Deposit (Lantern). The results substantially increase the deposit footprint, particularly to the north, and demonstrate the potential for significant growth in Mineral Resources. The high-grade gold mineralisation intersected from recent drilling exhibits a change from fine-grained free gold in Cosmo Deposit to coarser-grained free gold in narrow quartz veins within Lantern.
Included in the new results is the highest-grade gold assay ever reported at Cosmo, totaling 4750 g/t Au over 0.31 m (estimated true width ‘ETW’ 0.2 m) in hole LU73020, which is located more than 250 m north of the current main Lantern Mineral Resource.
President and CEO of Kirkland Lake Gold, Tony Makuch, commented: “After suspending production at Cosmo on 30 June 2017, we expanded our extensive exploration programme at the Lantern Deposit, recognising the significant potential that exists to identify new Mineral Resources. The results being reported today are very encouraging, as they demonstrate that Lantern is much larger than previously identified with the potential for substantially higher grades. Based on the latest drilling, we have extended Lantern to over 500 m along strike, more than 1200 m down-plunge and over 1000 m vertically from surface, with a significant number of high- grade intersections and multiple occurrences of visible gold.”
“The progress being made at Lantern increases our confidence that we can establish an economic deposit or deposits in the Northern Territory and resume mining and milling operations at the Cosmo Mine and Union Reefs Mill. In support of this goal, we are initiating an underground exploration development programme on two levels, 320 m vertically apart, to access Lantern underground from the existing Cosmo ramp. This development will provide the first underground exposures of the Lantern mineralisation, deliver improved drilling access and provide initial production platforms for the potential restart of operations in 2018. Five diamond drill rigs (three underground and two surface) and a reverse-circulation (RC) percussion drill rig are currently operating at the Cosmo mine to further define and expand the Lantern mineralisation.”
Drilling Highlights within the Lantern Deposit at the Cosmo Mine
According to Kirkland Lake Gold drill results include 74 new drill holes for a total of 27 737 m. The drilling was completed as part of an extensive programme of underground infill & extension diamond drilling, with results demonstrating the significant high-grade potential and down-plunge extent of the Lantern Deposit.
Highlight Drilling Intercepts:
- 1624 g/t Au over 0.91 m (ETW 0.6 m), including 4750 g/t Au over 0.31 m (ETW 0.2 m) in hole LU73020 (3600 Lode).
- 198 g/t Au over 3.0 m (ETW 1.0 m), including 1577 g/t Au over 0.35 m (ETW 0.1 m) in hole LU73017 (3800 Lode).
- 89.7 g/t Au over 1.0 m (ETW 0.8 m) in hole DS001 (3600 Lode).
- 40.8 g/t Au over 18.7 m (ETW 5.2 m), in hole LU101020 (3400 Lode).
- 22.6 g/t Au over 8.8 m (ETW 4.4 m), in hole LU101014 (3900 Lode).
- 14.6 g/t Au over 5.9 m (ETW 2.8 m) in hole LU101014 (3400 Lode).
- 11.7 g/t Au over 19.1 m (ETW 6.5 m) in hole LU101026 (3600 Lode).