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Author Topic: KGI -incredible gold discovery
BCmouser
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This one is going to go -with this last discovery.JMHO
Kirkland locates 90.4 feet of 2.3 ounces of gold


2005-07-11 05:31 ET - News Release

Mr. Brian Hinchcliffe reports

KIRKLAND LAKE GOLD INC.: DRILL HOLE 50-627 INTERSECTS 2.3 OUNCES OF GOLD OVER 90.4 FEET 'UNCUT'

Kirkland Lake Gold Inc. is releasing an update on one of the programs in its three-year $21-million exploration campaign. The goal of this campaign is to explore for a combined potential of 15 million tons of ore on the Main break, Parallel Breaks and North South structures, such as the Lower D zone, on the company's landholdings. Each month, four- to six-month underground drills are carrying out three to four different exploration programs.

During this drilling campaign, drill hole 50-627 has intercepted a 90.4-foot section (the true width of which is unknown) which assayed 2.3 ounces of gold per ton (uncut) and 1.16 ounces of gold per ton (cut -- all gold values above 3.5 ounces of gold per ton were cut to the 3.5-ounce level). This intersection is located 1,600 feet south of the active mine working at Macassa No. 3 shaft.

"This outstanding intersection either represents a significant new discovery or is part of the LK zone, where the discovery hole returned 26 ounces of gold over 6.2 feet (see news issued in Stockwatch on Sept. 26, 2004, and April 18, 2005)," said Stew Carmichael, chief exploration geologist. "There is good continuity of gold mineralization throughout the intersection. Although the core axis angles are quite variable, averaging 30 to 35 degrees indicating that the true width will be much less than the intersection itself, this is one of the most important drill holes and intersections in the Kirkland Lake camp history."

Further highlights of the current results from hole 50-627 include:


Mineralization occurred evenly through this 90.4-foot intersection including between 1,765.0 and 1,791.0 feet, where only four feet failed to return an assay of more than one ounce of gold per ton. Mineralization can best be described as remarkably consistent in both grade and style of mineralization, comprising extensive quartz veining, flooding and up to 15 per cent finely disseminated pyrite. Visible gold was observed throughout the interval, but is very fine, almost microscopic. The mineralization differs from the Lower D zone, which is closely associated with disseminated pyrite mineralization.
As previously announced (see news issued in Stockwatch on July 7, 2005), this same drill hole, 50-627, intersected what appears to be the north strike extension of the Lower D zone that assayed 1.10 ounces of gold per ton over 18.0 feet core length (uncut, true width of 11.5 feet) at the minus-5,165 elevation, located 1,560 feet north of the existing Lower D resource block.
Hole 50-627 also intersected another interesting, highly altered zone from 1,460.9 feet to 1,494.5 feet that is similarly mineralized to the high-grade intersection further down the hole. While it returned a subeconomic grade of 0.05 ounce per ton gold over 33.6 feet core length, it represents another important drill target.
The primary target for this hole was the LK zone, which might correlate with the 90.4-foot interval, but this would require a change in the interpretation of its orientation, alternatively, hole 50-627 may have been drilled under the LK zone, because it came in 50 feet below the intended target elevation.

"Hole 50-627, with the two outstanding intersections, continues to validate the company's belief in the potential for new discoveries to the south of the Main break. We are planning to wedge off of this hole to ascertain the orientation and true width," said Mike Sutton, the company's chief geologist.

To date, four north-south structures have been discovered at Macassa, each of which may extend 5,000 feet or more. Historically, ore-bearing structures in Kirkland Lake are laterally very extensive (1,000 feet to 20,000 feet). Ore-grade shoots along these structures generally are also extensive (1,000 to 8,000 feet). An example of the extent of potential mineralization is the Teck-Hughes mine, where 3.7 million ounces of gold were mined from the Main break over a strike length of only 1,400 feet (located on a single mineral claim).

The following table summarizes the latest drilling program results in ounces of gold per ton over feet:


Hole From To Gold Length
ft ft opt ft


50-627 964.0 982.0 1.10 18.0
0.70 18.0
Incl. 980.0 982.0 7.08 2.0
1460.9 1494.5 0.05 33.6
1685.1 1691.1 0.31 6.0
1700.6 1791.0 2.30 90.4
1.16 90.4
Incl. 1709.8 1714.8 15.57 5.0
3.50 5.0
Incl. 1745.2 1749.2 5.43 4.0
2.95 4.0
Incl. 1765.0 1791.0 3.59 26.0
2.34 26.0

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The Mouse

Posts: 443 | From: Valemount | Registered: Dec 2003  |  IP: Logged | Report this post to a Moderator
   

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