Kirkland Lake Discoveries (TSXV:KLDC) Completes Phase 1 Drilling at Kirkland Lake Project, Advances Geological Understanding of Lucky Strike Property

Kirkland Lake Discoveries (TSXV:KLDC) has reported the successful completion of their Phase 1 drill program at the Kirkland Lake Project. This phase, the first out of three previously declared drill phases, consisted of nine drill holes spanning 2,991m on the Goodfish-Kirana property.

Danièle Spethmann, President and CEO of Kirkland Lake Discoveries, commented in a press release: “This drill program was planned through a meticulous targeting exercise incorporating all the exploration tools deployed over the Goodfish-Kirana claim package over the last ten years. The Kirana Deformation Zone, a second-order structure of the Larder Lake Cadillac Deformation Zone, remains a target of high merit. Initial observations indicate the presence of sulphide mineralization, alteration, and shearing at the targeted intervals.”

The primary focus of the Phase 1 drilling was on regional targets situated along the Kirana Deformation Zone which trends from east to west. This particular zone was identified based on coinciding intersecting northwest structures, IP chargeability anomalies, and recognized gold mineralization at relatively shallow depths. Furthermore, to investigate high-grade assays from previous drilling in 2021, two holes were drilled on the Jo Zone, where past results showed 155 g/t Au over 0.75m and 72 g/t Au over 0.50m.

Significant in the drilling sequence were drill holes KLD23-08 and KLD23-09. These were designed as down-dip step-outs to further assess the Jo Zone shear structure and previous high-grade intersections in the hanging-wall. Notably, both holes managed to intersect the primary shear zone, with assay results still awaited.

In a related update, the detailed analysis of a high-resolution airborne magnetic geophysical survey for the Lucky Strike property, which was initially communicated on July 13, 2023, has been completed by ALS GoldSpot. This analysis has improved the geological and structural knowledge of the property, aiding in target prioritization and subsequent field operations. The findings by ALS GoldSpot have identified various potential targets, which align with the geology maps of the Ontario Geological Survey. Recently, field crews have made strides in mapping and sampling, uncovering structural trends, mineralization, and alteration signatures that appear promising.

A noteworthy point is the discovery of the Hurricane target area. This area, nestled within a structurally complex zone flanked by felsic to intermediate intrusions between the Mulven and Misema Mist Lake faults, has shown intriguing geological features. Recent mapping has revealed epidote-altered intermediate intrusions intersected by quartz stockwork veinlets and pyrite mineralization. Furthermore, historical data from 1936 suggests that samples from this area produced multi-ounce gold assays.

Looking ahead, the Kirkland Lake Discoveries team is in the process of planning Phase 2 drilling. This phase will focus on many of the recently identified target areas based on the 2023 fieldwork and geophysical interpretation. In anticipation of this next phase, they are also preparing additional exploration permits for the new areas on the Lucky Strike property, and drilling will recommence once these permits are approved.

Highlights from the results are as follows:

Table 1 – Phase 1 drill holes location, orientation, and total depth.

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