Kirkland Lake Discoveries (TSXV: KLDC) has released a new set of assays from the Mirado deposit at its KL South project, led by two high grade intercepts at Mirado West and further mineralization in the North and South zones.
Hole KLM26-039 returned 73.86 g/t gold over 1.00 metres, while KLM26-041, drilled from the same collar area in the opposite direction, cut 36.43 g/t gold over 1.45 metres. Both holes sit 100 metres south of earlier drilling at Mirado West.
Highlights from the results include:
- KLM26-039: 73.86 g/t gold over 1.00 metres from a depth of 219.00 metres
- KLM26-041: 36.43 g/t gold over 1.45 metres from a depth of 40.55 metres
- KLM26-032: 2.01 g/t gold over 19.00 metres from a depth of 146.00 metres
- Including 11.22 g/t gold over 3.00 metres
- KLM26-036: 7.36 g/t gold over 3.50 metres from a depth of 257.00 metres
- KLM26-038: 1.27 g/t gold over 11.00 metres from a depth of 81.00 metres
The South Zone holes, KLM26-036 and KLM26-038, were drilled into a sparsely tested area between the North and South zones, and the company interprets the mineralization as sitting roughly 120 metres below the historical mineralized envelope.
Not every hole delivered however. Three North Zone holes returned no significant values, which the company attributes to holes passing above or only clipping the projected plunge of the mineralized structure. KLM26-047, flagged in September for intense silica-chlorite alteration and sulphides, came back with modest grades topping out at 2.65 g/t gold over 1.00 metres.
“Our priority is to determine how the gold-bearing structures extend, where they may connect and which geological features control higher-grade concentrations,” said Chief Executive Officer Stefan Sklepowicz. “With our recently completed financing, we can systematically address those questions at Mirado while testing priority regional targets across KL South.”
That financing, a $20 million raise closed on October 8, is now funding a drill program of at least 25,000 metres. Roughly 15,000 metres is earmarked for Mirado and 10,000 metres for regional targets, including a 1.2 kilometre trend of elevated gold grains in glacial till northwest of the deposit. One till sample there returned 235 grains, against a typical background of 1 to 10.
Two rigs are currently operating, with assays pending for 23 completed holes, 7 of them regional. The company expects to release results every 3 to 4 weeks.
The latest batch follows September results from KLM26-030, which returned 7.24 g/t gold over 11.10 metres, including 25.85 g/t gold over 3.00 metres, at the Mirado Fault and extended the North Zone by 125 metres.
