Drill Results Routine +

Kirkland Lake Discoveries Extends Mirado System: 120 m South Step-Out Hits 79.63 g/t Au over 2.1 m; 100 m West Step-Out Intersects 0.98 g/t Au over 62.3 m

Kirkland Lake Discoveries extends the Mirado system with high-grade step-out intersections, though dilution and exploration risks remain.

By The Northwire Desk — AI Analysis Jun 23, 2026 · 07:01 KLDC · 0.33 Kirkland Lake Discoveries Corp.

Executive Summary

Kirkland Lake Discoveries Corp. (KLDC) released drill results from its 2026 diamond drilling program at the Mirado Project (KL South) on June 23, 2026.
Hole KLM26-010 intersected 79.63 g/t Au over 2.1 m (including 184.04 g/t Au over 0.8 m) approximately 120 m south of previously known mineralization.
Hole KLM26-011 intersected 0.98 g/t Au over 62.3 m (including 3.51 g/t Au over 9.8 m) approximately 100 m west of historical limits, extending the South Zone laterally and 130 m down-dip.
Hole KLM26-008 confirmed stacked, steeply dipping mineralized structures in the North Zone, with intervals up to 1.88 g/t Au over 5.1 m.
Geophysical integration (MobileMT, VLF, TMI) supports a broader structural-geophysical corridor model rather than isolated historical lenses.
A second diamond drill is now active, and regional prospecting teams have commenced testing high-priority structural and conductive targets.
Assays utilized Chrysos PhotonAssay™ technology for faster turnaround and reduced nugget effect, with a 0.2 g/t Au cutoff and no top-cutting applied.

Material Impact

The results are positive but incremental, fitting the expected progression of the company's 25,000 m exploration program. They validate the geological model of a broader, structurally controlled gold system but do not constitute a resource estimate or economic definition.
The step-outs (120 m south, 100 m west) are consistent with management's stated objective to expand the historical footprint. The market has already priced in the exploration upside through the stock's run from $0.04 to $0.64 over the past year.
No new financing, resource update, or regulatory milestone is attached to this release. The impact is therefore routine and expected, lacking the catalyst weight required for a material re-rating.
The reliance on PhotonAssay™ improves data reliability but does not change the fundamental exploration-stage risk profile. True widths are estimated at ~80% of core length, which is standard but leaves open the question of bulk tonnage potential.

KLDC · Price

Company Overview

Kirkland Lake Discoveries Corp. is an exploration-stage company focused on the Abitibi greenstone belt in Ontario, Canada.
Flagship assets include the Mirado Project (KL South) and the KL West property (Winnie Lake/Wolverine Bend).
Mirado: Historical inferred resource of 10.6 Mt at 1.29 g/t Au (~442 koz Au) from 2013. Limited drilling below 150 m and an untested IP anomaly suggest significant upside. The company acquired 100% interest in December 2025.
KL West: Targets intrusion-related gold and copper systems along a 17 km Winnie Pluton contact corridor. Early drilling has intersected massive sulphides, potassic-hematite alteration, and elevated bismuth/te tellurium signatures.
Land package: Over 400 km² of consolidated claims, providing extensive exploration optionality in a prolific gold camp.

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