JV Article: Kirkland Lake Discoveries drills promising targets in the Abitibi

In the heart of the renowned Kirkland Lake camp within…


In the heart of the renowned Kirkland Lake camp within the Abitibi Greenstone Belt, Kirkland Lake Discoveries (TSXV: KLDC; US-OTC: KLKLF) is embarking on an ambitious 4,000-metre drilling initiative at the Hurricane intrusive zone on its Lucky Strike property. This endeavour marks a significant step forward for the company, now the largest landholder in the Kirkland Lake district of northern Ontario. 

Formerly known as Warrior Gold, the company solidified its position in the region with the acquisition of the Lucky Strike property from New Found Gold (TSXV: NFG; NYSE: NFGC) in May 2023. This strategic move added to their already expansive portfolio, which includes contiguous properties such as the Goodfish-Kirana, Kirkland Lake Central, Arnold and Kirkland Lake West properties, collectively spanning about 380 km2

The acquisition of the 114-km2 Lucky Strike property, secured for a 29.1% interest and a 1% net smelter royalty, underscores Kirkland Lake Discoveries’ commitment to expanding its presence in one of the world’s most gold and copper-endowed greenstone belts. The Abitibi greenstone belt has a storied history, boasting a yield of over 200 million oz. of gold, with more than 47 million oz. extracted from the Kirkland Lake district alone. 

Stefan Sklepowicz, vice-president of corporate development, highlighted the favourable conditions for mining operations in the area, citing easy access to a skilled workforce, robust infrastructure, and reliable suppliers. “We can have a drill rig mobilized onto the property in hours from Rouyn-Noranda and have it drilling by night shift. It’s one of the best places in the world to work,” he remarked. 

The current drilling activities at the Hurricane intrusive zone are strategically positioned approximately 6 km north of Agnico Eagle Mines’ (TSX: AEM; NYSE: AEM) Upper Beaver gold-copper project, which hosts 1.4 million oz. of gold and 20,000 tonnes of copper in probable reserves. Agnico’s Macassa mine, located roughly 20 km southeast of the Lucky Strike drill target, further underscores the region’s potential for significant mineral discoveries. 

Overseen by founder, president, and CEO Danièle Spethmann, a geologist with decades of experience in northern Ontario and internationally, consolidation of the properties started 12 years ago and involved many meetings and negotiations with prospectors holding individual claims. The extensive, 53-km-wide territory represents a prime exploration opportunity in a highly coveted mining jurisdiction. 

Despite the historical focus on the west side of their property, Sklepowicz highlighted the untapped potential of the east side closer to the Quebec border. The newly identified Hurricane intrusive zone presents an intriguing prospect, he says, with minimal exploration activity over the past century. 

Strong, lucky results 

The current drilling on the Lucky Strike property was preceded by a 2023 exploration program that included airborne geophysics, mapping, and prospecting that returned grab samples up to 4.25 g/t gold and 0.95% copper. The geophysical signature, geology, mineralization, and alteration were found to be similar to the intrusion-related gold-copper system of Agnico-Eagle’s Upper Beaver project. 

While Kirkland Lake Discoveries’ immediate focus is on the Lucky Strike property, ongoing exploration activities on their Goodfish-Kirana property have also yielded encouraging results. A nine-hole 2,991-metre drill program completed in September 2023 intersected 7.7 metres grading 2.1 g/t gold from a depth of 498 metres. 

Kirkland Lake Discoveries has benefitted greatly from the Mineral Exploration Research Centre’s $100-million Metal Earth research project, which included a 45-km Larder Lake transect consisting of aeromagnetic, magnetotelluric, and seismic studies in 2017 and 2018 over the Misema Mist Lake and Mulven Lake faults on the Lucky Strike property. 

“Kate Rubingh, and other research associates at MERC, found very similar characteristics to the Larder Lake-Cadillac deformation zone with magnetotelluric geophysics showing a resistivity low running down over 30 km,” Sklepowicz said. “That’s exciting because it means there’s a conduit for the gold-rich fluids to rise to the surface where they can be exploited. 

“MERC is doing the studies on that, so we’re getting all this free work done, which is priceless for a junior exploration company, and has helped to highlight the potential on the east side of our property and validate our intrusive targets.” 

Furthermore, Kirkland Lake Discoveries recently signed a co-operation agreement with the nearby Beaver House First Nation (BHFN), underscoring their commitment to fostering mutually beneficial relationships with Indigenous communities. The agreement aims to provide BHFN members with access to employment opportunities, training initiatives, and business ventures, reinforcing the company’s dedication to responsible and inclusive mining practices. 

As Kirkland Lake Discoveries continues to unlock the geological treasures nestled within the Abitibi greenstone belt, their work testifies to the region’s enduring allure and what the company believes to be untapped potential on the global stage. 

The preceding Joint Venture Article is PROMOTED CONTENT sponsored by Kirkland Lake Discoveries and produced in co-operation with The Northern Miner. For more information visit kirklandlakediscoveries.com.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *