Filing of Detour Lake Mine Technical Report TORONTO, Oct. 17, 2021 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that it has filed on SEDAR a National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) technical report with respect to the new Mineral Resource estimates for the Detour Lake Mine (“Detour Lake”). The technical report, entitled, “Detour Lake Operation, Ontario, Canada, NI 43-101 Report” is effective as of July 26, 2021 (the “Technical Report”) and is in support of the new Mineral Resource estimates for Detour Lake as part of its mid-year Mineral Resources update released on September 2, 2021.
Key highlights from the Technical Report include:
- Measured and Indicated(1)(2) (“M&I”) Mineral Resources increase 10,061,000 ounces or 216% from December 31, 2020 estimates to 14,718,000 ounces at June 30, 2021 (572.0 million tonnes (“MT”) at average grade of 0.80 grams per tonne (“g/t”))
- M&I Mineral Resource estimates include 12,214,000 ounces(3) (386.5MT at average grade of 0.98 g/t) with additional 2,505,000 ounces (185.5MT at average grade of 0.42 g/t) of low-grade M&I Mineral Resources(4)
- Inferred Mineral Resources at June 30, 2021 of 1,115,000 ounces(1) (48.3MT at average grade of 0.81 g/t)
- Increase in Mineral Resources expected to drive growth in Mineral Reserves from December 31, 2020 estimate of 15,775,000 ounces (596.1MT at average grade of 0.82 g/t)(5)(6); December 31, 2021 Mineral Reserve and Mineral Resource estimates to be released in first quarter of 2022.
(1) Mineral Resources are reported exclusive of Mineral Reserves.
(2) Mineral Resources include Mineral Resources considered amenable to open-pit mining methods and are bound within a pit shell.
(3) Measured and Indicated Mineral Resources at 0.50 g/t cut-off grade.
(4) M&I Mineral Resources include Mineral Resources at grades below 0.50 g/t with a cut-off grade of 0.35 g/t.
(5) December 31, 2020 Mineral Reserve estimate includes 13,821,000 ounces (447.4MT at average grade of 0.96 g/t) at a 0.50 g/t cut-off grade with an additional 1,954,000 ounces of low-grade Mineral Reserves (148.7MT at average grade of 0.41 g/t) at grades below 0.50 g/t with a cut-off grade of 0.35 g/t.
(6) See technical report entitled “Detour Lake Operation NI 43-101 Technical Report” with an effective date of December 31, 2020 as filed on SEDAR on March 30, 2021 (the “2020 Technical Report”).
Technical Report and Qualified Persons
Readers are encouraged to read the Technical Report in its entirety, including all qualifications, assumptions and exclusions that relate to the Mineral Resource. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context.
The Mineral Resource estimates for Detour Lake included in this press release were prepared under the supervision of Eric Kallio, P.Geo., Senior Vice President, Exploration and Andre Leite, P.Eng., AUSIMM CP (MIN), MEng., Vice President, Technical Service. Mr. Kallio and Mr. Leite are “qualified persons” as defined in NI 43-101 and have reviewed and approved disclosure of the scientific and technical information and data in this press release.
https://www.globenewswire.com/news-release/2021/10/18/2315296/0/en/Kirkland-Lake-Gold-Announces-Filing-of-Detour-Lake-Mine-Technical-Report.html