Kirkland Lake Gold Inc.: Drilling on New South Zone Returns 3.86 Ounces of Gold (132.3 Grams) Over 16.0 Feet True Width and 3.24 Ounces of Gold Per To
Tue May 13, 2:00 AMKIRKLAND LAKE, ONTARIO--(Marketwire - May 13, 2008) - Kirkland Lake Gold Inc. (the "Company") (TSX: KGI.TO)(AIM: KGI) is pleased to announce an update on diamond drilling in the South Mine Complex (SMC). The SMC consists of 15 or more mineralized zones, one of which is the New South Zone, located 800 feet to 2,000 feet south of the historical mine workings on the Company's Macassa Mine property.
Stewart Carmichael, Chief Exploration Geologist, commented: "This latest round of drilling on the central area of the New South Zone has firmed up the extent of this zone." He added, "Many of the drill holes returned multiple intersections in various zones which we are still compiling. We look forward to further expansion of the New South Central in the near future." Steve Gray, Chief Production Geologist, commented: "The proximity of the New South Central Zone to the newly developed mining infrastructure will permit this zone to be developed and mining to commence within the next 12 to 18 months." Highlights of the current results: - Drill hole 53-949 has intersected the New South Central Zone returning an assay of 3.86 ounces of gold per ton (opt) uncut (1.81 opt cut) over a core length of 19.0 feet (estimated 16.0 feet true width) and included 18.02 opt uncut over a core length of 2.5 feet (estimated 2.1 feet true width). - Drill hole 53-944 has intersected the New South Central Zone returning an assay of 3.24 opt uncut (1.57 opt cut) over a core length of 8.4 feet (estimated 8.1 feet true width) and included 12.47 opt uncut over a core length of 1.0 feet (estimated 1.0 feet true width). - The New South Zone has now been divided into three distinct areas including the East, Central and West blocks. - The New South Central Zone has been defined over a strike length of 480 feet and a down-dip component of 1,200 feet between the -5150 and -5400 foot elevation. The dip of the zone averages 24 degrees. - The Central Block remains open to depth and will be explored from the 5300 level west cross cut beginning in July 2008 (see figure 1). - Development on this zone will include driving a 400 foot long cross cut which will, in addition to accessing the New South Central, cut through the YYZ, New South West, New South West Footwall and Lower D North zones. The figures referred to in this release may be viewed at the Company's website at www.klgold.com and will provide context to the above statements. Figure 1 is a plan view showing the latest drilling results. To see figure 1 please click on the following link: http://media3.marketwire.com/docs/kgi0513.pdf The following table summarizes the latest drilling program results (Imperial values).
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HOLE AZIM-
DIP UTH
DRILL FROM TO (deg- (deg- ASSAY
HOLE No. ZONE (feet) (feet) rees) rees (oz per ton/feet)
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53-949 New South 83.0 102.0 +73 329 3.86/19.0' CL equals 16.0' TW,
Uncut
1.81/19.0' CL equals 16.0' TW,
Cut
Incl. 83.0 85.5 18.02/2.5' CL equals 2.1' TW
and 85.5 88.0 4.56/2.5' CL equals 2.1' TW
and 100.0 102.0 3.03/2.0' CL equals 1.7' TW
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53-944 New South 77.6 86.0 +90 0 3.24/8.4' CL equals 8.1' TW,
Uncut
1.57/8.4' CL equals 8.1' TW,
Cut
Incl. 80.5 81.5 12.47/1.0' CL equals 1.0' TW,
VG, Tell
and 81.5 82.5 8.60/1.0' CL equals 1.0' TW,
VG
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53-532 New South 115.0 119.3 +75 108 0.70/4.3' CL equals 4.3' TW
Incl. 117.8 119.3 1.36/1.5' CL equals 1.5' TW
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53-547 New South 88.0 90.0 +30 165 1.28/2.0' CL equals 1.7' TW
Incl. 88.0 89.0 2.27/1.0' CL equals 0.8' TW,
VG, Tell
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53-550 New South 93.1 106.2 +18 185 0.82/13.1' CL equals 7.1' TW,
Uncut
0.50/13.1' CL equals 7.1' TW,
Cut
Incl. 93.1 94.6 6.31/1.5' CL equals 0.8' TW,
VG, Tell
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53-581 New South 81.0 89.2 +55 138 0.32/8.2' CL equals 7.8' TW
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53-582 New South 139.0 167.7 +32 078 0.29/28.7' CL equals 16.4' TW
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53-610A New South 155.5 161.6 +17.5 211 2.17/6.1' CL equals 2.6' TW,
Uncut
1.66/6.1' CL equals 2.6' TW,
Cut
Incl. 155.5 156.5 5.83/1.0' CL equals 0.4' TW,
VG
and 156.5 158.2 3.95/1.7' CL equals 0.7' TW,
VG
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53-1012 New South 182.1 184.5 0 146 1.70/2.4' CL equals 1.2' TW,
VG
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53-1013 New South 177.0 183.5 0 173 0.81/6.5' CL equals 2.7' TW
Incl. 177.0 178.5 2.39/1.5' CL equals 0.6' TW,
VG
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53-1014 New South 140.0 163.5 +7 178 0.25/23.5' CL equals 9.7' TW
Incl. 162.5 163.5 1.75/1.0' CL equals 0.4' TW,
VG
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53-1015 New South 124.0 135.0 +15 196 0.64/11.0' CL equals 5.1' TW
Incl. 130.7 132.5 1.17/1.8' CL equals 0.8' TW,
VG
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53-1016 New South 106.9 116.5 +30 218 3.89/9.6' CL equals 5.5' TW,
Uncut
2.45/9.6' CL equals 5.5' TW,
Cut
Incl. 106.9 108.0 2.94/1.1' CL equals 0.6' TW,
VG
and 108.0 110.0 10.41/2.0' CL equals 1.1' TW,
VG
and 110.0 112.5 2.01/2.5' CL equals 1.4' TW
and 112.5 115.0 2.57/2.5' CL equals 1.4' TW
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TW equals True Width; CL equals Core Length; VG equals Visible Gold; TELL
equals Tellurides; HW equals Hanging wall; FW equals Footwall; CUT equals
cut to 3.5 opt.
The following table summarizes the latest drilling program results (Metric values).
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HOLE AZIM-
DIP UTH
DRILL FROM TO (deg- (deg- ASSAY
HOLE No. ZONE (m) (m) rees) rees (grams per tonne/m)
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53-949 New South 25.3 31.1 +73 329 132.3/5.8m CL equals 4.9m TW,
Uncut
62.1/5.8m CL equals 4.9m TW,
Cut
Incl. 25.3 26.1 617.8/0.8m CL equals 0.6m TW
and 26.1 26.8 156.2/0.7m CL equals 0.6m TW
and 30.5 31.1 102.9/0.6m CL equals 0.5m TW
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53-944 New South 23.7 26.2 +90 0 111.1/2.5m CL equals 2.5m TW,
Uncut
53.8/2.5m CL equals 2.5m TW,
Cut
Incl. 24.5 24.8 427.5/0.3m CL equals 0.3m TW,
VG
and 24.8 25.2 294.9/0.4m CL equals 0.3m TW,
VG
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53-532 New South 35.1 36.4 +75 108 24.0/1.3m CL equals 1.3m TW
Incl. 35.9 36.4 46.6/0.5m CL equals 0.5m TW
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53-547 New South 26.8 27.4 +30 165 43.9/0.6m CL equals 0.5m TW
Incl. 26.8 27.1 77.8/0.3m CL equals 0.2m TW,
VG, Tell
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53-550 New South 28.4 32.4 +18 185 28.1/4.0m CL equals 2.2m TW,
Uncut
17.1/4.0m CL equals 2.2m TW,
Cut
Incl. 28.4 28.8 216.3/0.4m CL equals 0.2m TW,
VG
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53-581 New South 24.7 27.2 +55 138 11.0/2.5m CL equals 2.4m TW
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53-582 New South 42.4 51.1 +32 078 9.9/8.7m CL equals 5.0m TW
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53-610A New South 47.4 49.3 +17.5 211 74.4/1.9m CL equals 0.8m TW,
Uncut
56.9/1.9m CL equals 0.8m TW,
Cut
Incl. 47.4 47.7 199.9/0.3m CL equals 0.1m TW,
VG
and 47.7 48.2 135.4/0.5m CL equals 0.2m TW,
VG
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53-1012 New South 55.5 56.3 0 146 58.3/0.8m CL equals 0.4m TW,
VG
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53-1013 New South 54.0 55.9 0 173 27.8/1.9m CL equals 0.8m TW
Incl. 54.0 54.4 81.9/0.4m CL equals 0.2m TW,
VG
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53-1014 New South 42.7 49.8 +7 178 8.6/7.1m CL equals 3.0m TW
Incl. 49.5 49.8 60.0/0.3m CL equals 0.1m TW,
VG
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53-1015 New South 37.8 41.2 +15 196 21.9/3.4m CL equals 1.6m TW
Incl. 39.8 40.4 40.1/0.6m CL equals 0.2m TW,
VG
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53-1016 New South 32.6 35.5 +30 218 133.4/2.9m CL equals 1.7m TW,
Uncut
84.0/2.9m CL equals 1.7m TW,
Cut
Incl. 32.6 32.9 100.8/0.3m CL equals 0.2m TW,
VG
and 32.9 33.5 356.9/0.6m CL equals 0.3m TW,
VG
and 33.5 34.3 68.9/0.8m CL equals 0.4m TW
and 34.3 35.1 88.1/0.8m CL equals 0.4m TW
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TW equals True Width; CL equals Core Length; VG equals Visible Gold; TELL
equals Tellurides; HW equals Hanging wall; FW equals Footwall; CUT equals
cut to 120.0 grams/tonne.
About the Company The Company purchased the Macassa Mine and the 1,500 ton per day mill along with four former producing gold properties - Kirkland Lake, Teck-Hughes, Lake Shore and Wright Hargreaves - in December 2001. These properties, which have historically produced some 22 million ounces of gold, extend over seven kilometres between the Macassa Mine on the west and Wright Hargreaves on the east and, for the first time, are being developed and explored under one owner. This camp is located in the Abitibi Southern Greenstone Belt of Kirkland Lake, Ontario, Canada. Qualified Person The results of the Company's underground diamond drilling program have been reviewed, verified (including sampling, analytical and test data) and compiled by the Company's geological staff (which includes a 'qualified person', Stewart Carmichael P.Geo., the Company's Chief Exploration Geologist, for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators). Mr. Carmichael also supervised the preparation of the information that forms the basis of the technical disclosure in this release. Quality Assurance & Control The Company has implemented a quality assurance and control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. The drill core is sawn in half with half of the core samples shipped to the Swastika Laboratories in Swastika, Ontario or to the Macassa mine laboratory for analysis. The other half of the core is retained for future assay verification. Other QA/QC includes the insertion of blanks, and the regular re-assaying of pulps/rejects at alternate certified labs (Polymet, Accurassay). Gold analysis is conducted by fire assay using atomic absorption or gravimetric finish. The laboratory re-assays at least 10% of all samples and additional checks may be run on anomalous values. Reports The Company's Macassa Mine Property is the subject of reserve reports prepared by: - Glenn R. Clark, P.Eng., entitled Review of Resources and Reserves of Macassa Mine, Kirkland Lake, Ontario dated July 18, 2006. - Glenn R. Clark, P.Eng., entitled Review of Resources and Reserves of the New South Mine Complex, Macassa Mine, Kirkland Lake, Ontario dated August 25, 2007. All of these technical reports have been filed on SEDAR ( www.sedar.com). Cautionary Note Regarding Forward Looking Statements This Press Release may contain statements which constitute 'forward-looking statements', including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company's Annual Information Form and quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts responsibility for the adequacy or accuracy of this news release.ContactsBrian Hinchcliffe Kirkland Lake Gold Inc.
President
(705) 567-5208
(705) 568-6444 (FAX)
Email: bhinchcliffe@klgold.com
Scott Koyich
Kirkland Lake Gold Inc.
Investor Relations
(403) 215-5979
Email: info@klgold.com
Website: www.klgold.com
Chelsea Hayes
Pelham Public Relations
+44 20 7743 6675
Email: chelsea.hayes@pelhampr.com
Robin Birchall
NOMAD: Canaccord Adams Limited
+44 20 7050 6500
Email: robin.birchall@canaccordadams.com
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