FULL DISCLOSURE: Canacom Group is long the equity of Kirkland Lake Discoveries.
Kirkland Lake Discoveries Corp. (TSXV: KLDC) continues to see its Mirado gold project grow every time the drill bit moves further from the historical resource shell.
The company on Monday released assay results from two holes at the past producing Mirado property and flagged a third hole that intersected visible gold roughly 180 metres south of the historical resource boundary, the largest step-out completed at the project to date.
The headline number came from KLM26-006, which cut a previously untested fault zone and pulled multiple broad mineralized intervals from a single hole. KLM26-005, drilled to the southeast, added lateral continuity to the South Zone.
Key intercepts from the latest results include:
- KLM26-006: 2.46 g/t gold over 14.7 metres from 345.1 metres depth,
- Including 12.52 g/t gold over 1.8 metres
- KLM26-006: 0.82 g/t gold over 24.0 metres from 160.0 metres depth
- KLM26-006: 0.76 g/t gold over 13.0 metres from 286.3 metres depth
- KLM26-005: 14.72 g/t gold over 0.8 metres from 72.2 metres depth
- KLM26-005: 1.35 g/t gold over 4.2 metres from 158.5 metres depth
- KLM26-005: 0.40 g/t gold over 8.8 metres from 123.4 metres depth
- KLM26-010: Visible gold observed at 257 m downhole (assays pending)
KLM26-006 is the more strategically interesting of the two assayed holes. It was the first to test the upper North Zone while undercutting the South Zone, and in doing so it extended the stacked North Zone structures roughly 125 metres vertically. It also confirmed that the Mirado Fault Zone, which has long been suspected as a major fluid pathway separating the North and South zones, is itself mineralized.
Hole KLM26-010 meanwhile is the southernmost hole drilled to date, extending known mineralization by 180 metres to the south of the historic resource boundary. Assay results for the hole remain outstanding.
Chief Executive Officer Stefan Sklepowicz said the visible gold in KLM26-010 supports the company’s view that mineralization extends well beyond the historically constrained footprint.
The latest hits build on results released earlier this month, when KLDC reported 39.35 g/t gold over 16.4 metres in hole KLM26-004, including a single 0.38-metre sample grading 1,670 g/t. That intercept anchored the high-grade case for the South Zone; the new step-outs are pushing on the scale case.
Kirkland Lake also noted that with the winter drill program coming in under budget, they have tacked an additional 5,000 metres onto the ongoing campaign, bringing the total 2026 drill plan to 30,000 metres. Drilling has resumed at KL South following the spring melt, with assays pending on several completed holes.
Kirkland Lake Discoveries last traded at $0.485 on the TSX Venture.
FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive is long the equity of Kirkland Lake Discoveries. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
