PRECIOUS METALS

Kirkland drilling expanding Macassa

Kirkland Lake Gold has reported results from 135 holes for 47,683m of underground exploration drilling at its Macassa mine in Ontario, Canada, designed to confirm and extend resources.

Staff reporter
Macassa in Ontario, Canada

Macassa in Ontario, Canada

Drilling extended mineralisation along both the south and west margins of the South Mine Complex (SMC), with highlights including 14.5m grading 253.7 grams per tonne gold outside current mineral reserves at the south margin and 2.4m grading 103.3g/t along the west margin. Drilling at the Amalgamated Zone intersected 8.2m grading 210.4g/t.

"Today's results … support our view that there is substantial exploration potential in areas where the dip of the SMC approaches the contact with mineralised zones stacked vertically along the Amalgamated Break," said Kirkland Lake president and CEO Tony Makuch.

"The results … further increase our confidence that there are new mineral reserves to be discovered as we drill along the Break through the Kirkland Lake camp."

Exploration drilling at Macassa continues with nine drills underground and one drill on surface testing the SMC and Amalgamated Zones.

Shares in Kirkland Lake Gold are trading at C$65.85, valuing the company at $18.1 billion.

 

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.