New Gold Zone in Wide Intervals, But is There Enough Size? | Kirkland Lake Discoveries CEO Interview

**Antonio** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today on the CEO BBQ, Goat Exploration in Ontario, Canada, together with Kirkland Lake Discoveries. But if you're short on time, subscribe to our free newsletter, and once a week, we'll send you a five-minute summary of all interviews we put out, resourcetalks.com for a free weekly newsletter.
Now, although this company has paid us for the production of this video, you should still understand that we are not financial advisors, and this is not intended as financial advice. It is a broad, general, and impersonal piece of information intended only for those who know and understand the risks of junior mining, of which there are many. Before moving on, read the company's official filings on SitterPlus.ca, and do your own due diligence. Pause the screen and read all the disclaimers I've shown you because your capital is at risk. If this isn't clear, go to the last section of this video for a longer explanation of the risks and biases, and do not consume this content if you don't agree with everything said therein. Moving on, this is not Kirkland Lake's first time on the CEO BBQ, so if it's your first time hearing about the company, I'm going to post the link to our previous interview. It's also going to be a playlist with all the future interviews you're going to end up. That first pass interview is the introduction to the company, so that's where you could hear the smell test, the basic grilling, talking about the history of the acid and all that. Which again, we're not going to be repeating in here because this is going to be more of an update on drilling and some of the assets that they've had.
In a nutshell, though, Kirkland Lake Discoveries flagship project is a bit of a question now actually, and we'll talk more about that, but you could say it's the Mirado Gold Project, the past producing structurally controlled orogenic gold system in altered volcanic rocks. It's about 20 kilometers southeast of Kirkland Lake in, again, Ontario. Mirado has historical mining, extensive older drilling and technical work behind it, but the company is now trying to demonstrate that the mineralized system is substantially larger than previously understood. And that was a big part of my first conversation with Stefan as well. And we'll be part of this conversation as well with the size potential.
KLDC has been systematically stepping out from the historical north and south zones, testing deep extensions and also pushing west into the newly named Mirado West area, where a hole 37 returned 1.2 grams per ton of gold over close to 70 meters, including a 5.7-gram intercept over 12 meters.
Everywhere, the program has produced separate intervals around 2 grams over estimated true widths of roughly 11 to 23 meters alongside much narrower, but bonanza-grade structures, and that's something that we'll talk about as well. The mineralized footprint is now interpreted over more than 1.3 kilometers, which will also make its way into the conversation later today, but I thought I'd bring it up off the bat. Now, for some of the numbers and a bit of the details, Kirkland Lake Discoveries is listed as KLBC on the TSX-V in Canada, where the average 3-month daily volume has been about 235,000 units. The stock's 52-week high is 67 cents, and its 52-week low is 14.5 cents. With a market cap of $88.5 million and 205 million shares outstanding, today, this is a 43-cent stock with a 50- and a 208-moving average at respectively 30 and 31 cents, which means the stock is now trading above those two. Enough of me for now though, it's time for me to shut up and Stefan, I'll give you the word here. First of all, thank you for sitting down with me today.

**Stefan** (3:32)
I appreciate the time, Antonio.

**Antonio** (3:34)
I appreciate you coming back quickly. I know a lot of people after the initial barbecue, they need to cool off and they take six months in between or something like that. Thank you and I last spoke about three months ago. Then let's pick it up exactly there. What have you done for shareholders since we last spoke in late May?

**Stefan** (3:50)
It's been a busy summer at Kirkland Lake Discoveries. There's been close to 20,000 additional meters of drilling that's been completed.
Lots of really positive drill results. We've, as you've said, grown the mineralized footprint at Mirado significantly. Basically, East-West extent has more than doubled. We've continued to hit underneath. With that, we've had a recovery in our share price. We're still off at that 52-week high, but the market's coming back in September, and we're starting to see more buying, and a lot more people understanding that this is a very big orogenic system and we have lots of drills to come. It's been a constant delivery on what we said we were going to do, and then have actually expanded significantly past what the initial drill plans are, and have really delivered on those drills.