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

0:16Stefan Sklepowicz: All right, everybody moving right along here on this Wednesday, more corporate updates, more drilling results coming in from Canada for this corporate update in 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 news releases with results, including the new Murado West Zone. That was the big news last week, and we're going to follow up on that, plus today's news from the Murado Fault Zone. Happy to welcome in Stefan Schlepovic once again for the update. So, Stefan, obviously drilling continues to be successful, not only with expansion, but ongoing development at Murado.

1:06Stefan Sklepowicz: 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. 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 Murado West uh 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 Murado and so it's an absolutely massive growth story at this point in time yeah uh that release and then the releases today, obviously.

2:12Stefan Sklepowicz: Does it seem to change the geological conversation about Murado altogether? Are you having different conversations today than you were having two weeks ago? 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 solicification 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.

3:02It's coming from these feeder zones. And so it's a much clearer conversation at this point as compared to what we were dealing with a month ago.

3:13Stefan Sklepowicz: At Murado 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 five and a half grams per ton in there. So great hit all around. Let's talk about the follow up at Murado West. What's the plans for revisiting that and doing more developments and definition work? 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.

3:54I can't remember off 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 towards the Northwest. And that's where we're seeing a geophysical trend. We have pill sampling that's pointing in that direction as well. And so it's just, 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. All right.

4:29Stefan Sklepowicz: You've expanded that lateral mineralized footprint to more than 1.3 kilometers here, Stefan. But there's a 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? um that's a good question trevor and at this point it's it's still open uh in that we're looking at you know yes it's 1.3 kilometers of totalized total mineralized footprint but there's a lot of drilling to be done in between um total meters to do that i'm not i'm not sure it really depends if we were to stop going for our regional targets then you're probably really needed about 10 ,000 meters to fill that in.

5:21But with our expanded step-outs and pushing the boundaries of that, that number is going to increase as we find more and more.

5:28Stefan Sklepowicz: Okay. This morning's news release, that really focused on results coming out of the Murado Fault headline hole, just over 11 meters of 7.24 grams per tonne gold. And you described those deeper structures as a potential high-grade feeder. What geological evidence tells you that these really are feeder structures, maybe rather than isolated shoots here, Stefan? So what we're seeing is that directly below our more broad mineralization is we're finding these feeders. So in the core, you're seeing consistent style of mineralization. We saw it in 06, where we're getting through this fault zone, the Morato Fault.

6:12And in that zone was where we hit another high-grade chute. We're seeing it again here in hole 30. And what we're noticing is that above that, you're getting into this disseminated area where you're getting those blowouts of lower grade material. And so that's what we're interpreting as these feeder zones. And we're seeing that consistently across these holes. So there's still more drilling to really hammer that out and determine exactly how wide that is. but so far that's exactly what we're seeing.

6:46Stefan Sklepowicz: Okay. If that interpretation's correct, does that change how you explore Murado or is it still head down with the same strategy you've been working with? So there's a twofold exploration aspect to it. So we have both the superficial footprint, which to me is one of the most important things to figure out first. When you're looking at doing, you know, environmental work and things like that, the requirement is to give what the footprint is that you need to stay within. And right now, it's continually growing. And so from a superficial mineralized footprint, that's where we're focusing at this point in time.

7:23But to grow this thing, we know that tracing down those feeder zones is going to be what will actually increase the high-grade mineralization of this and increase the grade of the deposit.

7:37Stefan Sklepowicz: Okay. Okay. You have 21 holes pending. Is that what I understand? Yes, we do. Okay. All right. So if we're looking ahead here, Stefan, and if there's a shareholder out there watching, anticipating those assays to come in, which batch potentially tells us most about whether Murado is generally getting bigger? I think so. There's three holes that are in trend with this hole 30 that we put out today. those are going to paint a really good story of what's going on. And then also the holes around Murata West. Like I said, the trend, the mineralized trend seems to be going to the northwest. And so these are going to tell us if this is open and continuing, and if those till samples and geophysical signatures make sense, or if that's the edge of a system.

8:31And so those holes are the big ones and are going to really paint a picture of how big this thing is. Okay.

8:38Stefan Sklepowicz: If we also continue to look ahead with all these results coming in and the data that you now have in your pocket, Stefan, are you starting to think about the next campaign, the next large exploration budget allocation that you'll be working with? And what is that potentially going to shape up to be? Because there's, like you said, there's a lot of corners here, Murado, that need some more attention. What will be the primary focus? Yeah, right now, like I said, the surficial footprint is what our primary focus is. We have the intention to keep going with our drill and looking at close to a 50 ,000 meter program to expand with the intention that that gives us the infill numbers that will give us, you know, the regional step outs.

9:23And that will allow us to get towards an updated MRE, PEA, et cetera, in the future. And so that's kind of the next leg of this is doing that continued expansion until we find the edges of this system and then work on infilling and getting exactly, you know, what the details are that we need for an updated MRE. And with the intention that we can incorporate more of these high-grade areas with a higher cap. And so right now, the cap that they've been using or they did use was at 30 grams per ton. And we have a lot of intercepts that are well above that. And so the plan is to use SRK, who did the previous resource, and then get guidance on exactly what's required to be able to move that capping higher with a higher level of confidence for those zones where we have these incredible high grades.

10:14Stefan Sklepowicz: Very cool. All right, Stefan, I'm going to let you to it. I know it's a busy day. In fact, I just got a tour. I think you're in Toronto. I got a tour of Bay Street, I think. For those who can't hear me. Non-stop meetings, Trevor. So I appreciate you being able to take me in on the fly. It's a walking tour here on Mining Stock Daily just for me because nobody else can see it. They just got to hear it. All right, Stefan, thanks so much. Good to see you. Congratulations on a great series of holes here and more to come here from Kirkland Lake Discoveries. Thanks a lot, Trevor. Really appreciate it.

10:46Stefan Sklepowicz: The information presented should not be considered investment advice. Mining Stock Daily Yance affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.