Kirkland Lake Gold believes there are more ounces to be had deep within its South Mine Complex (SMC).
The northeastern Ontario mid-tier producer released the results of an underground program currently underway on its South Claim properties purchased from Queenston Mining.
One drill hole result yielded 1.85 ounces per ton over a width of 11.6 feet, while another returned 0.36 ounces over a width of 14.7 feet.
Company CEO George Ogilvie thinks these properties have multi-million ounce potential.
"These recent results continue to show exceptional grades, which confirms the high-grade nature of the deposit, even with minimum mining widths applied. Encouragingly, the SMC remains open to the east and at depth paving the way for further exploration success.”
An updated resource and reserve estimate will be released in the second quarter.
The program being conducted at the 5,300-foot level at the South Mine Complex is designed to extend and upgrade resources on the South Claims.
Other exploration plans for this year include further testing of the New South Zone further east and down dip of the current resource area, with follow-up drilling on new footwall zones.
