-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KR8VKWT2renwnDlMDr8H9iiJjcbQ0V3kpyxswaUH46eZv+wek1hMj4T0iQId1SpI egfYLOjIdpopXZU+qVkB5w== 0000832342-07-000005.txt : 20070118 0000832342-07-000005.hdr.sgml : 20070118 20070118121918 ACCESSION NUMBER: 0000832342-07-000005 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20070111 FILED AS OF DATE: 20070118 DATE AS OF CHANGE: 20070118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KIRKLAND LAKE GOLD INC CENTRAL INDEX KEY: 0001104440 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 000000000 STATE OF INCORPORATION: A1 FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-49919 FILM NUMBER: 07537043 BUSINESS ADDRESS: STREET 1: SUITE 300 STREET 2: 570 GRANVILLE STREET CITY: VANCOUVER BC STATE: A1 ZIP: V6C 3P1 BUSINESS PHONE: 604-689-1428 MAIL ADDRESS: STREET 1: SUITE 300 STREET 2: 570 GRANVILLE STREET CITY: VANCOUVER BC STATE: A1 ZIP: V6C 3P1 FORMER COMPANY: FORMER CONFORMED NAME: FOXPOINT RESOURCES LTD DATE OF NAME CHANGE: 20000128 6-K 1 form6kcoverpagedec.htm FORM 6-K FILINGS FOR KIRKLAND LAKE GOLD INC. THE MONTH OF DECEMBER, 2006 (FILED ON JANUARY 11, 2007) Form 6-K Filings for Kirkland Lake Gold Inc. the month of December, 2006 (filed on January 11, 2007)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C., 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of:
December 2006
Commission File Number:
 

 
Highway 66, Kirkland Lake, Ontario, Canada
 
 
KIRKLAND LAKE GOLD INC.
(Translation of registrant's name into English)
 
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F
 X
 
Form 40-F
 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Yes
 
 
No
 X
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

If “Yes” is marked indicate the file number assigned to the registrant in connection with Rule 12g3-2(b): 82 - .

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

     
KIRKLAND LAKE GOLD INC.
(Registrant)
 
Date:
 
January 11, 2007
 
By:
 
  “Sandra Lee”
     
Signature
 
Sandra Lee   Corporate Secretary
     
Name*    Title*
*Print name and title under the signature of the signing officer

 
 
SEC 1815 (04-05)
 
Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
 

EX-99.1 2 exhibit99-1.htm KIRKLAND LAKE GOLD ANNOUNCES SECOND QUARTER RESULTS; SIX MONTH UPDATE OF RESERVES AND RESOURCES ON NEW DISCOVERIES (DEC 5, 2006) Kirkland Lake Gold announces Second Quarter Results; Six Month Update of Reserves and Resources on New Discoveries (Dec 5, 2006)
 

 
December 5, 2006
Symbol - TSX & AIM: KGI

Second Quarter Results;
Six Month Update of Reserves and Resources on New Discoveries

Kirkland Lake Gold Inc. (the "Company") announces the financial, operational and exploration results for its second quarter of its 2007 fiscal year, which started August 1, 2006 and ended October 31, 2006.

Overview

·  
During the quarter, operations processed 39,462 tons of ore grading 0.348 ounces of gold per ton (“opt”) for a total production of 13,344 ounces of gold versus a forecast of 16,500 ounces. Operating revenue for the quarter based on ounces produced was $9,398,000 and operating costs were $8,354,000. In the quarter, the Company spent $1,163,000 on exploration which was expensed and is included in the loss of $1,753,621 for the quarter ($0.03 per share)

·  
The Company commenced its drilling program from the 5300-level drift on the new, high grade discoveries to the south in July and, as at the end of October, was successful in increasing reserves and indicated resources in this new ore system by 113% (144,000 ounces to 306,000 ounces) since the end of April 2006. In the same period inferred resources in this new ore system increased from 267,000 ounces to 402,000 ounces, an increase of 51% from the end of the last fiscal year end.

RESERVES & RESOURCES IN NEW ORE SYSTEM (CUT TO 3.50 opt)

 
As at April 30, 2006
As at October 31, 2006
%
Tons
Grade
Ounces
Tons
Grade
Ounces
Change
Reserves:
   
Proven
-
-
-
1,200
.84
1,000
 
113%
Probable
246,000
0.56
136,000
269,000
0.62
168,000
Resources:
 
Indicated
22,000
0.39
8,000
184,000
0.74
137,000
Inferred
399,000
0.67
267,000
563,000
0.71
402,000
51%

“Now that we have drifted into these new zones not only are we able to drill shorter holes and add ounces to resources and reserves faster, but we are discovering many more mineralized zones than we anticipated,” said Brian Hinchcliffe, Company President. “Moreover, these updates are calculated cutting all values above 3.5 ounces of gold. If not cut, the reserves and resources in the new ore system alone would be 585,000 ounces and the inferred resources would be 726,000 ounces grading, on average, greater than 1 ounce of gold per ton.”

·  
Drill costs per ounce found was $3.28/ounce (2006: $5.34/ounce). The lower figure is due to the 5300 level cross-cut to the south that enabled the Company to replace 2,500 foot drill holes taking one month to drill with 400 foot drill holes taking only two days to drill.

·  
This quarter saw the discovery of the new White Zone which is located between the Lower D North and the New South Zones, and returned intersections such as 9.60 opt (uncut, or 1.81 opt cut) over a core length of 10.7 feet and 11.65 opt (uncut, or 3.24 opt cut) over a core length of 9.0 feet.

·  
Gold revenues were 57% higher at $9,397,693 (2006: $5,985,574), of which 27% was from an increase in realized gold price and 30% from an increase in ounces sold.

·  
In the second quarter, 55,370 tons of rock were hoisted from underground operations of which 39,462 tons were milled as ore, producing 13,344 ounces of gold. The balance of the tonnage was development rock or “waste”.

·  
Ore grade to the mill was 0.348 ounces of gold per ton (calculated head grade; 2006: 0.339) for the quarter vs. a forecast grade of 0.441. Dilution from various sources was responsible for the lower grade than forecast. As a percentage of mined ore tons, the long-hole mining method contributed 71.9% compared to 35.2% in the two preceding quarters.

·  
Remediation of the dilution problem going forward includes a more conservative long hole stope design incorporating smaller hangingwall spans, more substantial long hole drill rods to increase hole accuracy, and utilization of the new communication system to reduce operational delays thereby reducing stope standup time.

·  
A new underground communications system, two new scoop trams and two man carriers were purchased during the first six months of the current fiscal year to further improve productivity.

 

Table of Second Quarter FY- 2007 Results

Financial Highlights
All amounts in 000’s of Canadian Dollars, except shares and per share figures
3 months
ended
October 31
2006
3 months
ended
October 31
2005
6 months
ended
October 31
2006
6 months
ended
October 31
2005
 
Gold Sales (ounces)
Average Price (per ounce)
 
13,665
$688
 
11,084
$540
 
25,796
$690
 
25,035
$534
 
Revenue
Operating Costs
Exploration Expenditure
Net (loss)
Per share (basic and diluted)
Cash Flow (used) for operating activities
Cash Flow from financing activities
Cash Flow (used) for investing activities
Net increase (decrease) in cash
Cash at end of period
Total Assets
Total Liabilities
Working Capital
Weighted average number of shares outstanding
 
9,398
7,969
1,163
(1,367)
(0.03)
(4,503)
975
(1,999)
(5,527)
16,667
68,497
8,073
15,645
52,952,736
 
5,986
4,985
648
(901)
(0.02)
(5,413)
12,891
(3,297)
4,182
8,783
53,297
9,645
6,799
47,675,166
 
17,915
16,449
3,145
(5,048)
(0.10)
(4,012)
16,049
(4,782)
7,255
-
-
-
-
52,659,55
 
13,380
15,445
1,871
(6,303)
(0.14)
(7,442)
13,948
(6,356)
150
-
-
-
-
46,595,997


Exploration and Ore Reserve Update

During the quarter the 5300-foot level exploration drift advanced 286 feet and two additional drill bays were created to facilitate further drilling on the new discoveries to the south. In the Lower D North Zone, 67 feet of drifting (on strike) was completed and mineralization graded 2.12 ounces of gold per ton (“opt”) (uncut, or 1.35 opt cut) over an average drift width of 6.4 feet.

Drilling continues to intersect significant gold mineralization on all zones to the south of the main workings. Horizontal drill hole 53-471 returned 1.02 opt (uncut, or 0.94 opt cut) over a core length of 30.9 feet and appears to correlate with the New South Zone located 570 feet to the east. Also in the New South Zone, drill hole 50-741 returned 1.55 opt (uncut, or 1.02 opt cut) over a core length of 62.4 feet.

Initial drilling below the 5300-foot exploration drift has returned encouraging mineralization. Drill hole 53-482 returned 24.67 opt over a core length of 2.4 feet on the #7 Break and included 58.80 opt over a core length of 1.0 foot. Further down this hole a new zone, termed the “White Zone” returned 9.60 opt over a core length of 10.7 feet and included 41.08 opt over a core length of 2.1 feet. The White Zone is located between the Lower D North and the New South Zones. The intersection in drill hole 53-482 is located 360 feet southwest and 235 feet below the 5300-foot exploration drift and is the deepest intersection to date on mineralization to the south. Another hole, 50-741 returned 11.65 opt (uncut, or 3.24 opt cut) over a core length of 9.0 feet.

To date, 16 mineralized zones have been identified south of the mine workings, 10 of which are in the area encompassing the New South/LK Zone. The reserves and resources of the New Ore System (to the south of the structure that has produced 24 million ounces of gold to date by various miners over the last 100 years), were initially estimated at the end of fiscal 2006.

An updated estimate for the new ore system reflecting the substantial drilling success over the last six months is shown below:

RESERVES & RESOURCES IN NEW ORE SYSTEM (CUT TO 3.50 opt)

 
As at April 30, 2006
As at October 31, 2006
%
Tons
Grade
Ounces
Tons
Grade
Ounces
Change
Reserves:
   
Proven
-
-
-
1,200
.84
1,000
 
113%
Probable
246,000
0.56
136,000
269,000
0.62
168,000
Resources:
 
Indicated
22,000
0.39
8,000
184,000
0.74
137,000
Inferred
399,000
0.67
267,000
563,000
0.71
402,000
51%

The reserves and resources estimates above are based on a cut to 3.50 opt (that is, all assays above 3.50 opt are lowered to 3.50 opt). This cut value was calculated using statistics from the historical workings. However, bulk samples will now be taken to determine whether the cut value for the new ore system should be revised upwards since:

·  
The New Ore System is different in many ways from the historical mining (for example, sulphide ore vs. quartz-hosted ore).
·  
A much higher proportion of the assays in the New Ore System are affected by this cut (for example, 62% of all intersections in the New South Zone).

RESERVES & RESOURCES IN NEW ORE SYSTEM AS AT OCTOBER 31, 2006 (UNCUT):

 
Tons
Grade
Ounces
Reserves:
 
Proven
1,200
0.84
1,000
Probable
269,000
1.02
273,000
Resources:
 
Indicated
184,000
1.69
311,000
Inferred
563,000
1.29
726,000


The criteria used in preparing the gold resource and reserve estimates above is the same as that used in the gold resource and reserve estimates dated April 30, 2006. For further information, please refer to the Company’s news release dated August 1, 2006.
 
An exploration drill program was undertaken in fiscal 2006, primarily funded by ‘flow-through’ investments made by Canadian investors which entitle the investors to certain tax write-offs. The Company is required to spend $2.5 million raised in a ‘flow-through’ exploration financing by December 31, 2006. A total of $766,000 was spent on qualifying expenditures for the quarter, and $2,138,000 in total.

Looking forward, the Company plans to focus its exploration efforts on underground drilling delineating the newly discovered zones to the south. This, and the discovery of other mineralized zones, and extensions of those found through this successful exploration, is aimed at increasing the ore resources and reserves of the Company.

The new resource and reserve estimates and the results of the Company’s diamond drilling program disclosed herein have been prepared by, or under the supervision of, and reviewed, verified (including sampling, analytical and test data) and compiled by Michael Sutton P.Geo., the Company’s Chief Geologist (a ‘qualified person’ for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators). See the Company’s news release dated August 1, 2006 for details of Company’s quality assurance program and quality control measures and the gold resource and reserve estimates, plus criteria used as at April 30, 2006.
 
About the Company

The Company is an operating gold mining company located in Kirkland Lake, Ontario, which owns the Macassa Mine and Mill and four contiguous former gold producing properties. The Company’s corporate goal is to expand its gold reserves and to become a low cost gold producer.

The Company’s common shares trade on the TSX (Toronto Stock Exchange) and on the AIM (Alternative Investment Market) of the London Stock Exchange.

The Company’s Directors have a range of experience in the natural resource and mining sector that includes, exploration, mining and marketing, as well as experience in the legal and corporate finance areas.
 

For further information, please contact:  
 
Brian Hinchcliffe
President
Phone 1 705 567 5208
Fax 1 705 568 6444
E-mail: info@klgold.com 
E-mail: bhinchcliffe@klgold.com
Website- www.klgold.com
Scott Koyich
Investor Relations
Phone 1 403 215 5979
 
Chelsea Hayes
Pelham Public Relations
Phone: +44 (0) 20 7743 6675
E-mail: Chelsea.hayes@pelhampr.com

EX-99.2 3 materialchangeq2.htm KIRKLAND LAKE GOLD INC. - MATERIAL CHANGE REPORT, SECOND QUARTER RESULTS (DECEMBER 11, 2006) Kirkland Lake Gold Inc. - Material Change Report, Second quarter results (December 11, 2006)
FORM 51-102F3
MATERIAL CHANGE REPORT
 
1. Name and Address of Company

KIRKLAND LAKE GOLD INC.
Suite 300 - 570 Granville Street
Vancouver, BC V6C 3P1
(the “Company”)
 
2. Date of Material Change
 
December 5, 2006
 
3. News Release
 
Press Release dated December 5, 2006 was disseminated by CCN Matthews and SEDAR filed with the British Columbia, Alberta and Ontario Securities Commissions on that date.
 
4. Summary of Material Change
 
Kirkland Lake Gold Inc. (the "Company") announces the financial, operational and exploration results for its second quarter of its 2007 fiscal year, which started August 1, 2006 and ended October 31, 2006.
 
5.  Full Description of Material Change
 
Please see refer to Exhibit 99.1.
 
6. Reliance on subsection 7.1(2) or (3) of National Instrument 51-102
 
Not applicable.
 
7. Omitted Information
 
Not applicable.
 
8. Executive Officers
 
For further information contact:
 
Brian Hinchcliffe
President
Phone: 1 705 567 5208 
Fax:  1 705 568 6444 
E-mail: bhinchcliffe@klgold.com
 
Scott Koyich
Investor Relations
Website- www.klgold.com
Phone:  1 403 215 5979
E-mail: info@klgold.com
 
 
Chelsea Hayes
UK Public Relations (Pelham)
Phone:  020 44 7743 6675
E-mail: chelsea.hayes@pelhampr.com 
 
 
9. Date of Report
 
December 11, 2006
 

EX-99.3 4 exhibit99-3.htm KIRKLAND LAKE GOLD EXPLORATIONTEAM WINS ONTARIO PROSPECTOR OF THE YEAR AWARD - DEC 14, 2006 Kirkland Lake Gold ExplorationTeam Wins Ontario Prospector of the Year Award - Dec 14, 2006
 
 December 14, 2006     
TSX & AIM: KGI   

KL Gold Exploration Team Win Ontario Prospector Of The Year Award;
Additional Drilling To The South Returns 1.99 Ounces Of Gold Over 25 Feet
 
Kirkland Lake Gold Inc. (the “Company”) is pleased to announce that the Prospector of the Year award for 2006 has been awarded to Mike Sutton and Stewart Carmichael, the Company’s exploration leaders, by the Ontario Prospectors Association. 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 ounces of gold per ton over 50 feet.

“We are excited at the recognition our exploration team has received from their peers with the Prospector of the Year award,” said Harry Dobson, Company Chairman. “One simple comparison that reveals the high grade nature of these new zones is that, whereas 10% of the drill holes on the Main Break system have values above the cut of 3.5 ounces, 65% of the drill holes in the new discoveries have values above 3.5 ounces”.

The Company has received assays for 14 additional drill holes completed from new drill bays on the 5300 level cross cut. The Company continues to intersect multiple zones of mineralization. Of significance is drill hole 53-495 which intersected 1.99 ounces of gold per ton (“opt”) uncut (1.58 opt cut) over a core length of 25.2 feet, the true width of which is estimated at 11.7 feet. Multiple ore-grade intersections continue to be intersected in most of the reported drill holes.

Highlights of the current results:

·  
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” 100 feet above the 5300 level.
·  
The intersection on the #7 Break in drill hole 53-480 (3.83 opt over a core length of 1.2 feet) is located 191 feet above the 5300 cross cut. The #7 Break is now showing both a vertical and horizontal extent of 600 feet, open both to the east and to depth.
·  
The second intersection in drill hole 53-480 which returned 1.44 opt (uncut) or 1.02 opt (cut) over a core length of 9.0 feet is interpreted to be on the Lower D North Hangingwall Zone and is located 258 feet 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 drill hole 53-483, which returned 5.44 opt (uncut) or 1.51 opt (cut) over a core length of 8.0 feet included a 1.1 foot interval which assayed 26.75 opt. This intersection is located 106 feet west of previously reported drill hole 53-482 which assayed 24.67 opt uncut (1.63 opt cut) and included a 1.0 foot interval which assayed 58.80 opt over a core length of 1.0 feet (see press release dated October 3rd, 2006). Both intersections are located between 95 and 110 feet below the 5300 cross cut.
·  
Drill hole 53-494 was drilled to test the mineralized contacts of the New South Zone. The hole assayed 1.11 opt over a core length of 58.5 feet but was drilled along the contact and has minimal true width.

A full listing of the 14 drill holes may be viewed on the Company’s website.

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

DRILL
HOLE No.
VEIN
FROM
(feet)
TO
(feet)
HOLE DIP
(degrees)
AZIMUTH
(degrees)
ASSAY
(oz. per ton/feet)
53-495
White Zone
 
Incl.
and
173.3
 
181.0
192.0
198.5
 
183.5
194.0
+30
070
1.99/25.2’ CL= 11.7’ TW, Uncut
1.58/25.2’ CL = 11.7’ TW, Cut
4.19/2.5’ CL = 1.1’ TW, VG
6.35/2.0’ CL = 0.9’ TW, VG
53-480
#6 Break
??
#7 Break
Lower D HW
 
Incl.
100.8
149.5
210.0
283.0
 
284.5
101.8
156.3
211.2
292.0
 
285.5
+61
176
1.53/1.0’ CL = 0.9’ TW
0.22/6.8’ CL = ??TW, VG
3.83/1.2’ CL = 0.9’ TW
1.44/9.0’ CL = 8.1 TW, Uncut
1.02/9.0’ CL = 8.1 TW, Cut
7.36/1.0’ CL = 0.9’ TW
53-483
#7 Break
 
Incl.
and
Lower D North HW?
262.0
 
265.0
266.6
405.0
270.0
 
266.6
267.7
407.4
-18
133
5.44/8.0’ CL = 4.8’ TW, Uncut
1.51/8.0’ CL = 4.8’ TW, Cut
7.18/1.6’ CL = 1.0’ TW, VG
26.75/1.1’ CL = 0.7’ TW, VG
1.10/2.4’ CL = 1.4’ TW, VG
53-488
New
New
 
Incl.
223.0
624.9
 
625.9
231.5
627.0
 
627.0
+40
127
0.49/8.5’ CL = ?? TW
3.35/2.1’ CL = ?? TW, Uncut
1.99/2.1’ CL = ?? TW, Cut
6.10/1.1’ CL = ?? TW, VG
53-494
White Zone ?
New South ?
 
Incl.
and
472.0
620.0
 
622.9
673.9
480.5
678.5
 
624.7
676.9
0
70
0.46/8.5’ CL = 2.5’ TW
1.11/58.5’ CL = ~6.8’ TW, Uncut
0.83/58.5’ CL = 6.8 TW, Cut
6.23/1.8’ CL = 0.2’ TW, VG
7.35/3.0’ CL = 0.3’ TW, VG

TW = True Width CL = Core Length VG = Visible Gold TELL = Tellurides CUT= cut to 3.50 oz/ton




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

DRILL
HOLE No.
VEIN
FROM
(m)
TO
(m)
HOLE DIP
(degrees)
AZIMUTH
(degrees)
ASSAY
(grams per tonne/m)
53-495
White Zone
 
Incl.
and
52.8
 
55.2
58.5
60.5
 
55.9
59.1
+30
070
68.2/7.7m CL= 3.6m TW, Uncut
54.2/7.7m CL = 3.6m TW, Cut
143.7/0.7m CL = 0.3m TW, VG
217.7/0.6m CL = 0.3m TW, VG
53-480
#6 Break
??
#7 Break
Lower D HW
 
Incl.
30.7
45.6
64.0
86.3
 
86.7
31.0
47.7
64.4
89.0
 
87.0
+61
176
52.5/0.3m CL = 0.3m TW
7.5/2.1m CL = ??TW, VG
131.3/2.1m CL = 0.3m TW
49.4/2.7m CL = 2.5m TW, Uncut
35.0/2.7m CL = 2.5m TW, Cut
252.3/0.3m CL = 0.3m TW
53-483
#7 Break
 
Incl.
and
Lower D North HW?
79.9
 
80.8
81.3
123.5
82.3
 
81.3
81.6
124.2
-18
133
186.5/2.4m CL = 1.5m TW, Uncut
51.8/2.4m CL = 1.5m TW, Cut
246.2/0.5m CL = 0.3m TW, VG
917.2/0.3m CL = 0.2m TW, VG
37.7/0.7m CL = 0.4m TW, VG
53-484
#7 Break
New
85.4
198.9
86.6
199.7
-18
156
30.2/1.2m CL = 0.6m TW, VG
20.9/0.8m CL = ??TW
53-488
New
New
 
Incl.
68.0
190.5
 
190.8
70.6
191.2
 
191.2
+40
127
16.8/2.6m CL = ?? TW
114.8/0.7m CL = ?? TW, Uncut
68.2/0.7m CL = ?? TW, Cut
205.7/0.4m CL = ?? TW, VG
53-494
White Zone ?
New South ?
 
Incl.
and
143.9
189.0
 
189.9
205.5
146.5
206.9
 
190.5
206.4
0
70
15.8/2.6m CL = 0.8m TW
38.1/17.9m CL = ~2.1m TW, Uncut
28.5/17.9m CL = ~2.1m TW, Cut
213.6/0.6m CL =~0.1m TW, VG
7.35/0.9m CL = 0.1m TW, VG
 
TW = True Width CL = Core Length VG = Visible Gold TELL = Tellurides CUT= cut to 120 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 Minerals, 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 east and Wright Hargreaves on the west 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.
 
The results of the Company’s underground diamond drilling program have been verified (including sampling, analytical and test data) by the Company's geological staff (which includes a ‘qualified person’, Michael Sutton P.Geo., the Company’s Chief Geologist, for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators). Mr. Sutton has supervised the preparation of the data that forms the basis for the disclosure in this news release.

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.

The Company’s Kirkland Lake properties are the subject of a report prepared by Roland H. Ridler, B.A.Sc.(Hons.), M.A.Sc., Ph.D.(Econ.Geol.), P.D., entitled Kirkland Lake Mineral Properties (Macassa Mine, Kirkland Lake Gold, Teck-Hughes, Lake Shore, Wright-Hargreaves dated November 30, 2001. The Company’s Macassa Mine Property is the subject of reserve and resource report prepared by Glenn R. Clark, P. Eng., entitled Review of Resources and Reserves of Macassa Mine, Kirkland Lake, Ontario dated July 18, 2006.  Both of these technical reports have been filed on SEDAR (www.sedar.com).

For further information, please contact:

Brian Hinchcliffe
President
Phone 1 705 567 5208
Fax 1 705 568 6444
E-mail: bhinchcliffe@klgold.com
Website- www.klgold.com
 
Scott Koyich
Investor Relations
Phone 1 403 215 5979
E-mail: info@klgold.com 
Chelsea Hayes
Pelham Public Relations
Phone 020 7743 6675
E-mail: chelsea.hayes@pelhampr.com
 


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.

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