Kirkland Lake Gold Inc.
TSX : KGI
AIM : KGI

Kirkland Lake Gold Inc.

March 18, 2009 03:00 ET

Kirkland Lake Gold Inc.: Drilling Continues to Intersect High Grade Mineralization on South Claims JV

Drill Hole 53-1213 Returns 1.81 Ounces of Gold per Ton Over 12.9 feet

TORONTO, ONTARIO--(Marketwire - March 18, 2009) - Kirkland Lake Gold Inc. ("KL Gold") (TSX:KGI)(AIM:KGI) and Queenston Mining Inc. ("Queenston") (TSX:QMI)(FRANKFURT:QMI)(STUTTGART:QMI) are pleased to announce recently completed drilling on jointly held (50%-50%) South Claims Joint Venture property within the South Mine Complex ("SMC") located south of KL Gold's Macassa Mine in Kirkland Lake, Ontario. Intersections include 1.81 ounces of gold per ton ("opt") over a core length of 16.4 feet (12.9 feet true width), 2.63 opt uncut (1.63 opt cut) over a core length of 13.5 feet (7.9 feet true width) and 1.05 opt over 11.3 feet (7.6 feet true width).

Five new diamond drill holes, from one of the various exploration programs conducted on the SMC, were completed from the KL Gold 5300 level drift along the South Claims boundary. The drilling was designed to test an unexplored gap between previously released drill hole 53-908 (4.42 opt uncut or 4.11 opt cut over a true width of 1.4 feet) and hole 50-901 (0.75 opt over a true width of 21.1 feet) (see KL Gold and Queenston joint news release dated February 13, 2008). Three of the five holes intersected significant gold mineralization associated with the New South Zone (part of the SMC). In addition, a single exploration hole (3,590 feet) was completed across the South Claims JV property to test for additional mineralization and structures (to see Figure 1 please click on: http://media3.marketwire.com/docs/kgi318.jpg).

"These new results further confirm the high-grade nature of mineralization on the joint venture with continuity extended over an additional 320 feet of strike length," said Stewart Carmichael, KL Gold's Chief Exploration Geologist. He added, "The mineralization intersected to date looks pretty solid across the JV property."

Charles Page, President and CEO of Queenston, commented, "The recent drilling results continue to expand the SMC on the joint venture property. High grade values have now been intersected on the northern portion of the South Claims property over a strike length of 1,400 feet and the mineralization remains open in all directions. Exploration hole 53-1088 appears to have clipped a portion of the SMC or a new zone 850 feet further to the south assaying 1.98 ounces per ton. New exploration drilling will focus on expanding the SMC further onto the South Claims and newly acquired HM joint venture properties."

Highlights of the current results:

- Drill hole 53-1200 (1.05 opt over 11.3 feet (true width of 7.6 feet)), hole 53-1213 (1.81 opt over 16.4 feet (true width of 12.9 feet)) and hole 53-1203 (2.63 opt uncut or 1.63 opt cut over 13.5 feet (true width of 7.9 feet)) have added an additional 320 feet of mineralization on the New South Zone within the unexplored gap. These new intersections will be incorporated into the next resource calculation for the South Claims JV.

- Drill hole 53-1201 intersected a mineralization zone 220 feet down dip from drill hole 53-1200 (1.05 opt over a true width of 7.6 feet) and assayed 0.06 opt over a core length of 3.0 feet. It is interpreted that this hole may have not reached the New South Zone.

- Exploration hole 53-1088, drilled across the entire South Claims property, intersected a high grade zone assaying 1.98 opt over a core length of 1.0 foot. This is the furthest south that a mineralized zone associated with the South Mine Complex (SMC) has been intersected to date - 850 feet south of the New South Zone at the -5300 ft level. A strong fault comprising mud gouge was intersected between 566 feet and 571 feet. This fault appears to represent a major structure that may have an influence on the SMC. It is not certain that this structure represents either a post-mineralization event or a conduit for the gold mineralization. Further drilling is required to fully evaluate this structure.

The figure referred to in this release may be viewed at KL Gold's and Queenston's websites, www.klgold.com or www.queenston.ca, and will provide context to the above statements. Figure 1 is a plan view showing the latest drilling results.



The following table summarizes the latest drilling results.
(Imperial values)

---------------------------------------------------------------------------
HOLE AZI-
DRILL DIP MUTH
HOLE FROM TO (deg- (deg- ASSAY
No. ZONE (feet) (feet) rees) rees) (oz per ton/feet)
---------------------------------------------------------------------------
53-1213 New HW 383.0 384.5 -75 075 2.50/1.5' CL equals TW
Unknown, VG
New South 394.0 410.4 1.81/16.4' CL equals 12.9'
TW
Incl. 397.7 400.0 3.01/2.3' CL equals 1.8'
TW, VG
and 405.0 407.4 6.12/2.4' CL equals 1.9'
TW, VG
and 407.4 408.4 2.15/1.0' CL equals 0.8'
TW
---------------------------------------------------------------------------
53-1201 New South 572.5 575.5 -57 176 0.06/3.0' CL equals 1.6'
TW
---------------------------------------------------------------------------
53-1203 New South 548.8 562.3 -56 075 2.63/13.5' CL equals 7.9'
TW, Uncut
1.63/13.5' CL equals 7.9'
TW, Cut
Incl. 555.0 556.5 16.16/1.5' CL equals 0.9'
TW, VG
and 560.9 562.3 2.37/1.4' CL equals 0.8'
TW, VG
---------------------------------------------------------------------------
53-1212 New South HW 328.7 330.6 -85 154 0.46/1.9' CL equals ??' TW
New South 371.8 373.5 0.35/1.7' CL equals 1.3'
TW
---------------------------------------------------------------------------
53-1200 New South 380.7 392.0 -78 154 1.05/11.3' CL equals 7.6'
TW
Incl. 382.3 383.5 3.02/1.2' CL equals 0.8'
TW, VG
and 388.5 390.7 2.40/2.2' CL equals 1.5'
TW
---------------------------------------------------------------------------

TW equals True Width
CL equals Core Length
VG equals Visible Gold
HW equals Hanging Wall
CUT equals cut to 7.2 opt


Flat exploration hole across South Claims Property from 5300 foot level

---------------------------------------------------------------------------
HOLE AZI-
DRILL DIP MUTH
HOLE FROM TO (deg- (deg- ASSAY
No. ZONE (feet) (feet) rees) rees) (oz per ton/feet)
---------------------------------------------------------------------------
53-1088 New 110.3 111.3 0 149 1.98/1.0' CL equals TW
Unknown
New 410.4 412.6 0.11/2.2' CL equals TW
Unknown
New 515.9 528.5 0.04/12.6' CL equals TW
Unknown
New 549.0 565.0 0.05/16.0' CL equals TW
Unknown
New 2,880.0 2,888.0 0.05/8.0' CL equals TW
Unknown
End of Hole 3,590.0
---------------------------------------------------------------------------


The following table summarizes the latest drilling results.
(Metric values)

---------------------------------------------------------------------------
HOLE AZI-
DRILL DIP MUTH
HOLE FROM TO (deg- (deg- ASSAY
No. ZONE (m) (m) rees) rees) (grams per tonne/m)
---------------------------------------------------------------------------
53-1213 New HW 116.8 117.2 -75 075 85.72/0.4m CL equals TW
Unknown
New South 120.1 125.1 62.06/5.0m CL equals 3.9m
TW
Incl. 121.3 122.0 103.20/0.7m CL equals 0.5m
TW, VG
and 123.5 124.2 209.83/0.7m CL equals 0.6m
TW, VG
and 124.2 124.5 73.71/0.3m CL equals 0.2m
---------------------------------------------------------------------------
53-1201 New South 174.5 175.5 -57 176 2.06/1.0m CL equals 0.5m
TW
---------------------------------------------------------------------------
53-1203 New South 167.3 171.4 -56 075 90.17/4.1m CL equals 2.4m
TW, Uncut
55.89/4.1m CL equals 2.4m
TW, Cut
Incl. 169.2 169.7 554.06/0.5m CL equals 0.3m
TW, VG
and 171.0 171.4 81.26/0.4m CL equals 0.2m
TW, VG
---------------------------------------------------------------------------
53-1212 New South HW 100.2 100.8 -85 154 15.77/0.6m CL equals TW
Unknown
New South 113.4 113.9 12.00/0.5m CL equals 0.4m
TW
---------------------------------------------------------------------------
53-1200 New South 116.1 119.5 -78 154 36.00/3.4m CL equals 2.3m
TW
Incl. 116.6 116.9 103.54/0.3m CL equals 0.2m
TW, VG
and 118.4 119.1 82.29/0.7m CL equals 0.5m
TW
---------------------------------------------------------------------------

TW equals True Width
CL equals Core Length
VG equals Visible Gold
HW equals Hanging Wall
CUT equals cut to 246.9 grams/tonne


Flat exploration hole across South Claims Property from 5300 foot level

---------------------------------------------------------------------------
HOLE AZI-
DRILL DIP MUTH
HOLE FROM TO (deg- (deg- ASSAY
No. ZONE (m) (m) rees) rees) (grams per tonne/m)
---------------------------------------------------------------------------
53-1088 New 33.6 33.9 0 149 67.89/0.3m CL equals TW
Unknown
New 125.1 125.8 3.77/0.7m CL equals TW
Unknown
New 157.3 161.1 1.37/3.8m CL equals TW
Unknown
New 167.4 172. 1.71/4.9m CL equals TW
Unknown
New 172.6 880.5 1.71/2.5m CL equals TW
Unknown
End of Hole 1,094.5
---------------------------------------------------------------------------


The South Claims were purchased by KL Gold and Queenston in April of 2007 to cover the potential down-dip extension of the SMC. To date, the SMC has been outlined over a strike length of 2,500 feet on the property holdings of KL Gold to the north and west of the South Claims (see KL Gold and Queenston press releases dated April 17, 2007). A joint venture was formed between KL Gold and Queenston in 2007 and an underground diamond drilling program commenced on the South Claims. In February, the joint venture drilling intersected the down-dip extension of the SMC on the property (see news release dated February 13, 2008) and in July the joint venture announced an indicated mineral resource of 43,000 tons grading 1.11 opt and an inferred mineral resource of 73,000 tons grading 1.24 opt (see KL Gold and Queenston joint news release dated July 16, 2008). The reserves and resources were calculated by Glenn R. Clark, P.Eng., in a technical report entitled Review of Resources and Reserves of Macassa Mine, Kirkland Lake, Ontario dated July 15, 2008 and disclosed in KL Gold's news release dated July 16, 2008, both of which are available on SEDAR (www.sedar.com) for KL Gold. In a report prepared for Queenston dated August 25, 2008, entitled Review of Resources on South Claims Property, Kirkland Lake, Ontario, Glenn R. Clark, P.Eng., reported indicated resources in the New South Zone of the South Claims Joint Venture property of 43,000 tons grading 1.11 opt (48,000 ounces) and inferred resources of 73,000 tons grading 1.24 opt (91,000 ounces). This report is available on SEDAR for Queenston.

KL Gold's Cautionary Note Regarding NI 43-101

The disclosure attributed in this release to KL Gold has been reviewed, verified (including sampling, analytical and test data) and compiled by its geological staff (which includes a 'qualified person', Stewart Carmichael, P.Geo., KL Gold'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.

Queenston's Cautionary Note Regarding NI 43-101

The disclosure attributed in this release to Queenston has been reviewed, verified (including review of sampling, analytical and test data) and compiled by its President, Charles Page, P.Geo., a 'qualified person', for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators. Mr. Page also assisted in the preparation of the information that forms the basis of the technical disclosure in this release.

Quality Assurance & Control

KL Gold and Queenston have 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 Polymet Resources Inc. in Cobalt, Ontario. 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 Resources Inc., Swastika Laboratories). 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.

About Kirkland Lake Gold Inc.

Kirkland Lake Gold Inc. 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 Southern Abitibi Greenstone Belt of Kirkland Lake, Ontario, Canada.

About Queenston Mining Inc.

Queenston's strategy is to return to producer status through the advancement of four 100% owned gold deposits in Gauthier Township (Upper Beaver, McBean, Anoki and Upper Canada) and through five joint ventures with Kirkland Lake Gold Inc. adjacent to the Macassa mine in Teck Township. In addition to the development strategy, the Company will increase its aggressive exploration program in the camp where recent deep drilling programs have intersected high-grade gold mineralization on the 100% owned Upper Beaver property (30.3 g/t Au with 1.0% Cu over 20.8 m, see news release dated December 16, 2008), on the 100% owned McBean property (15.4 g/t Au over 5.2 m, see news release dated January 15, 2009) and recently, on the 100% owned AK property (31.8 g/t Au over 2.3 m, see news release dated February 18, 2009).

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 companies, and their directors, or officers with respect to the future business activities and operating performance of the companies. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the companies, or their 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 companies' 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 companies' 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 companies have 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 companies do not intend, and do 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.

Contact Information

  • Kirkland Lake Gold Inc.
    Brian Hinchcliffe
    President
    (705) 567-5208
    (705) 568-6444 (FAX)
    Email: bhinchcliffe@klgold.com
    Website: www.klgold.com
    or
    Kirkland Lake Gold Inc.
    Scott Koyich
    Investor Relations
    (403) 215-2579
    Email: info@klgold.com
    or
    Pelham Public Relations
    Chelsea Hayes
    020 7743 6675
    Email: chelsea.hayes@pelhampr.com
    or
    NOMAD: Panmure Gordon (UK) Limited
    Katherine Roe
    +44 20 7459 5744
    Email: katherine.roe@panmure.com
    or
    NOMAD: Panmure Gordon (UK) Limited
    Ashton Clanfield
    +44 20 7459 5744
    or
    Queenston Mining Inc.
    Charles E. Page, P.Geo.
    President and CEO
    (416) 364-0001
    or
    Queenston Mining Inc.
    Hugh D. Harbinson
    Chairman
    (416) 364-0001
    (416) 364-5098 (FAX)
    Email: info@queenston.ca
    Website: www.queenston.ca
    or
    Queenston Mining Inc.
    Andreas Curkovic
    Investor Relations
    (416) 577-9927