Kirkland Lake Shares Climb to Record High On Exploration Results At Fosterville Mine

Kirkland Lake Gold Inc.

KGI is an operating and exploration gold Company in Kirkland Lake, Ontario which is located in the Lower Abitibi Greenstone belt in northeastern Ontario.

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Kirkland Lake Shares Climb to Record High On Exploration Results At Fosterville Mine

posted on Nov 07, 2017 01:12PM

2017-11-07 12:35:02 PM ET (MT Newswires)

12:35 PM EST, 11/07/2017 (MT Newswires) -- Kirkland Lake Gold (KL.TO) shares rose to a record on Tuesdayafter the company said underground drilling at its Fosterville mine in Australia showed an extension of the gold resource in the mine's highest-grade area.

The company said drilling in the mine's Swan zone, which has an existing initial mineral reserve estimate of 532,000 ounces with a grade of 58.8 grams of gold per tonne, had found an extension of the resource, with visible gold in the cores. One core showed average values of 991 grams of gold per tonne over 8.85 meters, with one 0.9 meter section grading at 9,115 grams of gold per tonne.

Production from the Swan zone is expected to begin by mid-2018.

Kirkland Lake shares were up $1.41, or 8.13%, to $18.75 at last look on the Toronto Stock Exchange, the highest since the shares were listed in July, 2015.

Price: 18.75, Change: +1.41, Percent Change: +8.13

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