Kirkland Lake Gold reports Taylor Gold Mine Complex drilling results

30 January 2017 (Last Updated January 30th, 2017 18:30)

Kirkland Lake Gold has reported exploration results from surface and underground drilling at its Taylor Gold Mine Complex in north-eastern Ontario, along Canada's Porcupine Destor Fault (the PDF) that hosts several gold deposits.

Kirkland Lake Gold reports Taylor Gold Mine Complex drilling results

Kirkland Lake Gold has reported exploration results from surface and underground drilling at its Taylor Gold Mine Complex in north-eastern Ontario, along Canada's Porcupine Destor Fault (PDF) that hosts several gold deposits.

The company holds an extensive land package extending around 120km along the PDF.

At Taylor mine, the firm has identified three major mineralised deposits along the PDF that comprise the West Porphyry Deposit, the Shoot Deposit, and Shaft Deposit.

West Porphyry Deposit (WPZ) contains the majority of the mineral resource and reserve estimates in the middle of the property where active mining is currently taking place.

Shoot Deposit is located west of the property and the Shaft Deposit is on the eastern side.

All drilling targeting new mineralised extensions are situated both at depth and along strike to the east of the Shaft Deposit and west of the WPZ, which comprises the 1003, 1004, and 1008 zones.

Drilling from the surface, approximately 300m from the edge of known mineralisation at the WPZ Deposit, intersected 10.31g/t Au over 3.2m in hole TA16-001 and 13.91g/t Au over 1.5m (12.74g/t Au cut) in hole TA16-005.

Two surface diamond drill rigs will perform follow-up drilling.

Underground exploration drilling taken up outside of WPZ near 1004 and 1003 zones indicated 9.50g/t Au over 4.5m in hole T160-017 up-dip of the 1004 Zone, with 7.78g/t Au over 3.4m in hole T450-008 and 15.03 g/t Au over 1.3m in hole T450-019. Meanwhile,39.62g/t Au was found over 1.1m, including 85g/t Au over 0.5m in hole T450-012, located 330m down-dip of the existing development.

Surface drilling east of Shaft Deposit reported newly discovered area of mineralisation, with 3.29g/t Au over 9.6m and 4.59g/t Au over 5.8m in hole TA16-008, indicating mineralisation remaining open at depth. In addition, 2.35g/t Au was found over 11m, including 3.96g/t Au over 3m in hole TA16-019, which is open along strike to the east and at depth.

"Looking forward to 2017, Taylor is scheduled to produce 55,000oz-60,000oz of gold."

Kirkland Lake Gold CEO and president Tony Makuch said: "The Taylor Mine is the company's newest gold mine with 2016 gold production totaling 42,639oz. Since the mine commenced operation in Q4 2015, the focus has been on better understanding the deposit with resource definition drilling and underground development to support stoping. Looking forward to 2017, Taylor is scheduled to produce 55,000oz-60,000oz of gold.

“The company believes the higher production target will be achieved through the ramp-up of operations combined with productivity and efficiency improvements. A steady increase of daily mine throughput is expected to occur by incorporating additional mining faces in the second half of the year. Mining is currently taking place in the WPZ Deposit 1004 Zone.

The company also stated that in the 2017 exploration programme, its aim is to significantly add to the resource to allow increasing production and mine life beyond ten years.

Makuch added: “We recognise that the ore at Taylor occurs within a series of shear hosted en echelon high-grade quartz veins stepping off the PDF. This is our first opportunity to capitalize on the underground drill platforms and we are pleased with the exploration success to date.”


Image: Kirkland Lake Gold is a mid-tier gold producer. Photo: courtesy of: Grindean Horea/Freeimages.com.