Kirkland Lake Discoveries: We Still Haven't Found the Edges of Mirado

Trevor Hall (0:17)

All right, everybody moving right along here on this Wednesday. More corporate updates, more drilling results coming in from Canada for this corporate update, and the latest results from Kirkland Lake Discoveries. They do trade on the Venture Exchange with KLDC and on the OTCQB with KLKLF. The company's published results. Two new news releases with results, including the new Mirado West Zone. That was the big news last week, and we're gonna follow up on that, plus today's news from the Mirado Fault Zone. Happy to welcome in Stefan Sklepowicz.

Once again, for the update. So Stefan, obviously drilling continues to be successful, not only with expansion, but ongoing development at Mirado. Let's maybe paint one big picture here before we dive into the niche about really what the expectation strategy is with this drill program.

Stefan Sklepowicz (1:17)

Well, thanks again for having me, Trevor.

The big thing with this area is, you know, when we took it over, we saw that it was a premature resource that was put out and that there was a lot of meat still on the bones. And what this drill program set out to do was test the boundaries. The intention was to find the edges on this system and figure out, you know, where that is and then update the resource. And every single drill hole that we've put out so far has hit gold and we don't have any edges. And the Mirado West expansion is one of the biggest ones because it was a 500-meter step out and we hit what looks to be the exact same style of mineralization that is at Mirado. And so it's an absolutely massive growth story at this point in time.

Trevor Hall (2:08)

Yeah.

That release and then the releases today, obviously, does it seem to change the geological conversation about Mirado altogether? Are you having different conversations today than you were having two weeks ago?

Stefan Sklepowicz (2:23)

Well, maybe not two weeks ago, but a month ago, for sure.

What we're really understanding now is that this is a orogenic system and that's been proven with our core scanning technology, so using hyperspectral imaging and understanding that the solidification of these mineralized areas is what's linking the gold to those areas. And the feeder zones that we hit today are definitely a really good indication of more to come and explaining why we have this disseminated mineralization at surface. It's coming from these feeders. And so it's a much clearer conversation at this point, as compared to what we were dealing with a month ago.

Trevor Hall (3:13)

At Mirado West, that big step out that you just mentioned, that headline hole 70 meters of 1.22 grams per ton.

There was a 12 meter intersection there of over 5.5 grams per ton in there. So great hit all around. Let's talk about the follow up at Mirado West. What's the plans for revisiting that and doing more developments and definition work?

Stefan Sklepowicz (3:36)

Well, that's exactly where we're drilling right now, and we were able to update on the visuals of what we're seeing with that hole. So hole 47 is 100 meters to the northwest, and what we're seeing is a lot more juice in the system. So we hit a fault zone around 300, and I can't remember the top of my head, 380, and it's incredibly well-solicified, high alterations, mineralization throughout the core.

And what it's telling us is that we haven't again boxed this system in, and the trend seems to be going forward to the northwest. And that's where we're seeing a geophysical trend. We have tail sampling that's pointing in that direction as well. And so it's continuing to box it off or trying to box it off, and we're working our way to the northwest at this point.

Trevor Hall (4:28)

All right. You've expanded that lateral mineralized footprint.

To more than 1.3 kilometers here, Stefan. But there's difference between obviously having mineralization across that and having continuous gold mineralization, a real huge gold deposit. So how much drilling is still required before you can maybe confidently connect all these zones geologically?

Stefan Sklepowicz (4:54)

That's a good question, Trevor. And at this point, it's still open in that we're looking at, yes, it's 1.3 kilometers of total mineralized footprint, but there's a lot of drilling to be done in between.

Total meters to do that, I'm not sure. It really depends. If we were to stop going for our regional targets, then you're probably looking at 10,000 meters to fill that in. But with our expanded step outs and pushing the boundaries of that, that number is going to increase as we find more and more.

Trevor Hall (5:28)