KL Gold wins Prospector of the Year

Kirkland Lake (KL) Gold has been honoured with the Prospector of the Year Award 2006. It was received by the company’s exploration leaders, Mike Sutton and Stewart Carmichael. This award recognizes the most significant new discovery made in the province of Ontario. The award was made for the discovery of a new system of high grade sulphide-hosted gold zones including the New South, White zone and the Lower D found to the south of the historic quartz vein Main Break in the Kirkland Lake camp. To date more than 16 zones of mineralization have been identified with recent drill intercepts as high as 5.57 oz/t Au over 15 m.

“We are excited at the recognition our exploration team has received from their peers with the Prospector of the Year Award,” said Harry Dobson, KL Gold’s Chairman. “One simple comparison that reveals the high grade nature of these new zones is that, whereas 10% of the drillholes on the Main Break system have values above the cut of 3.5 oz/t, 65% of the drillholes in the new discoveries have values above 3.5 oz/t”.

The company has received assays for 14 additional drillholes completed from new drill bays on the 5300 level cross cut. The company continues to intersect multiple zones of mineralization. Of significance is drillhole 53-495 which intersected 1.99 oz/t Au uncut (1.58 oz/t cut) over a core length of 7.7 m, the true width of which is estimated at 3.6 m.

Multiple ore-grade intersections continue to be intersected in most of the reported drillholes. Highlights of the current results include:

  • Out of the 14 holes reported, ten have returned ore-grade intersections on various zones
  • The intersection in 53-495 may represent the junction point between the recently discovered White zone and possibly the New South zone 30.5 m above the 5300 level
  • The intersection on the #7 Break in drillhole 53-480 (3.83 oz/t over a core length of 0.36 m) is located 58 m above the 5300 cross cut. The #7 Break is now showing both a vertical and horizontal extent of 183 m, open both to the east and to depth
  • The second intersection in drillhole 53-480 which returned 1.44 oz/t (uncut) or 1.02 oz/t (cut) over a core length of 2.7 m is interpreted to be on the Lower D North hangingwall zone and is located 78.6 m above the cross cut. This is the highest intersection to date on this zone and the zone remains open in all directions
  • The #7 Break intersection in drillhole 53-483, which returned 5.44 oz/t (uncut) or 1.51 oz/t (cut) over a core length of 2.4 m included a 0.3 interval which assayed 26.75 oz/t. This intersection is located 32.3 west of previously reported drillhole 53-482 which assayed 24.67 oz/t uncut (1.63 oz/t cut) and included a 0.3 m interval which assayed 58.80 oz/t over a core length of 0.3 m. Both intersections are located between 29-33 m below the 5300 cross cut
  • Drillhole 53-494 was drilled to test the mineralized contacts of the New South zone. The hole assayed 1.11 oz/t over a core length of 17.8 m but was drilled along the contact and has minimal true width.