SECURITIES AND EXCHANGE COMMISSION
Washington, D.C., 20549
FORM 6-K
Report of Foreign Issuer
FOR PERIOD ENDED
January 8, 2003
COMMISSION FILE NUMBER:
01-31380
KIRKLAND LAKE GOLD INC.
(Translation of registrant's name into English)
Suite 300, 570 Granville Street
Vancouver, British Columbia
Canada, V6C 3P1
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
If “Yes” is marked indicate the file number assigned to the registrant in connection with Rule 12g3-2(b): 82 - ●.
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P.O. Box 370
KIRKLAND LAKE, ON, P2N 3J7
January 8, 2003
Symbol: TSX-V: KGI
NEWS RELEASE
Kirkland Lake Announces New Reserve & Resource Estimates
Kirkland Lake Gold Inc. (formerly Foxpoint Resources Ltd.) (the “Company”) is pleased to announce its initial reserve and resource estimates for the Macassa Mine property. These initial reserve and resource estimates include some of the drilling undertaken by the Company in 2002 and supercede all previous estimates published by the Company. Roscoe Postle Associates Inc., a leading mining and geological consulting firm, has reviewed the mineral resources and mineral reserves prepared by the Company as at December 18, 2002 with reference to the Canadian Institute of Mining, Metallurgy and Petroleum definitions and guidelines for resource and reserve reporting. The Company’s four other contiguous properties – Kirkland Lake Gold, Teck-Hughes, Lake Shore and Wright-Hargreaves – were not included in these estimates.
“These first reserve and resource estimates, in combination with the reporting of net income of $1,366,322 for the first fiscal six month period (see news release issued December 20, 2002), show the progress of the Company as a new Canadian gold producer”, said Brian Hinchcliffe, the Company’s President. He added “We look forward to producing comprehensive reserve and resource estimates for all five properties that will include all drilling, as at our fiscal year end of April 30, 2003”.
In accordance with National Instrument 43-101Standards of Disclosure for Mineral Projectsthe following tables set out the reserve and resource estimates for the Macassa Mine property.
Reserve Classification |
Proven | Probable | Total |
| Grade | Ounces | | Grade | Ounces | | Grade | Ounces |
Tons | (oz/t Au) | of Gold | Tons | (oz/t Au) | of Gold | Tons | (oz/t Au) | of Gold |
432,000 | 0.41 | 176,700 | 368,000 | 0.49 | 179,600 | 800,000 | 0.45 | 356,300 |
Notes:
1. “oz/t Au” = ounces per ton of gold.
2. Reserves arein situ, diluted, and considered mineable.
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Resource Classification |
Measured | Indicated | Total |
| Grade | Ounces | | Grade | Ounces | | Grade | Ounces |
Tons | (oz/t Au) | of Gold | Tons | (oz/t Au) | of Gold | Tons | (oz/t Au) | of Gold |
876,000 | 0.38 | 329,600 | 2,192,000 | 0.28 | 615,100 | 3,068,000 | 0.31 | 944,700 |
Notes:
1. “oz/t Au” = ounces per ton of gold.
2. Resources are stated asin situ and diluted.
Resource Classification |
Inferred |
| Grade | Ounces |
Tons | (oz/t Au) | of Gold |
449,000 | 0.27 | 121,200 |
Notes: 1. “oz/t Au” = ounces per ton of gold.
2. Resources are stated asin situ and diluted.
Mineral resources which are not (and in the second and third tables do not include) mineral reserves do not have demonstrated economic viability and are not contained as part of the reserves disclosed in the first table.
The parameters used to estimate the mineral reserves and resources are as follows:
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Cut-off grades of 0.25 ounces of gold per ton and 0.35 ounces of gold per ton are used depending on the location of the block.
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Gold price of US$ 325 per ounce of gold.
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Exchange rate of US$ 0.64 = Cdn$ 1.00.
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Minimum mining width of 5.0 feet for steep dipping structures and a minimum mining height of 6.5 feet for flat structures.
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Minimum strike length of 21 feet.
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High assays cut to 3.5 ounces of gold per ton.
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Dilution factors are 32% for longhole stopes and cut-and-fill stopes less than 6.0 feet wide, 24% for cut-and-fill blocks of 6.0 to 7.0 feet wide, and 13% for cut-and-fill blocks greater than 7.0 feet wide. Dilution for longhole stopes below the 5600-foot level is 35%.
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Tonnage factor of 11.7 cubic feet per ton.
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Average mining recovery of 94% applied to the reserve blocks.
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Radius of influence from sampled headings of 30 feet for measured resources and proven reserves. Block must be exposed by at least one drift and tested between drifts by drilling on 25 to 30 foot pattern.
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Radius of influence of an additional 30 feet (to 60 feet) for indicated resources and probable reserves. Blocks sampled on two sides by workings out to a maximum of 150 feet spacing of the development where no drilling exists, or above and below a drift where drillhole spacing is greater than 100 feet.
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Inferred blocks are 60 to 100 feet from workings with one side bounded by a measured resource (or proven reserve) or a probable reserve (or indicated resource) block. Also, blocks on a proven mineralized trend are drilled on a spacing of greater than 100 feet.
Roscoe Postle was not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing or other issue that may materially affect its estimate of mineral resources and reserves.
The Company purchased the Macassa Mine and Mill along with four contiguous former gold producing properties in December 2001. These properties, which produced 22 million ounces of gold, extend over seven kilometers and from west to east comprise the Macassa, Kirkland Lake Gold, Teck-Hughes, Lake Shore and Wright-Hargreaves properties.
The Company’s Kirkland Lake properties are the subject of a report prepared by Roland H. Ridler, B.A.Sc.(hons.), M.A.Sc., Ph.D.(Econ.Geol.), P.D., entitledKirkland Lake Mineral Properties (Macassa Mine, Kirkland Lake Gold, Teck-Hughes, Lake Shore, Wright-Hargreaves dated November 30, 2001. The Company’s Macassa Mine Property is the subject of a report prepared by David W. Rennie, P.Eng. and Richard E. Routledge, M.Sc., P.Geol. entitledReview of Mineral Resources and Mineral Reserves of the Macassa Mine Property, Kirkland Lake, Ontario Prepared for Kirkland Lake Gold Inc dated December 23, 2002.Both of these technical reports have been filed on SEDAR (www.sedar.com).
- 30 -
For further information, please contact:
Brian A. Hinchcliffe
(705) 567-5208
The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy of this news release.
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SIGNATURES
Pursuant to the requirements of theSecurities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
KIRKLAND LAKE GOLD
(the Registrant)
|
January 8, 2003 |
By: |
Signed“Sandra Lee” |
| | | Signature
Sandra Lee, Secretary |
| | | Name* Title |
*Print name and title under the signature of the signing officer
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GENERAL INSTRUCTIONS
A.
Rule as to Use of Form 6-K
This form shall be used by foreign private issuers which are required to furnish reports pursuant to Rule 13a-16 or 15d-16 under theSecurities Exchange Act of 1934.
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D.
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