Kirkland Lake Discoveries Consolidates Key Ground Around Winnie Lake Pluton
Kirkland Lake Discoveries Consolidates Key
Ground Around Winnie Lake Pluton
Toronto, Ontario--(Newsfile Corp. - April 29, 2025) -
Kirkland Lake Discoveries (TSXV: KLDC)
("KLDC" or the "Company")
is pleased to announce that it has entered into a Mining Option
Agreement with
Val-d'Or Mining Corporation
(TSXV: VZZ)
to acquire a 100% interest in the
Winnie
Lake
and
Amikougami
properties, located near Kirkland Lake, Ontario.
Under the terms of the agreement, KLDC has been granted an exclusive four-year option by Val-d'Or
Mining Corporation to acquire the properties, which are strategically located within the Abitibi
Greenstone Belt and prospective for volcanogenic massive sulphide (VMS) and intrusion-related
mineralization (Image 1).
In addition, the Company has entered into Mining Claim Purchase Agreements with Charles Gryba (
the
"Gryba Transaction"
) and Sudeep Mathew (
the "Mathew Transaction"
) to acquire additional claims
contiguous with the Company's KL West Property around the Winnie Lake Pluton.
Image 1: updated KLDC Property Map with optioned ground highlighted.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5701/250076_kldc-property-map-april-2025.jpg
"The acquisition of these properties enhances our strategic land position and gives us exciting targets
for 2025 and beyond," c
ommented Stefan Sklepowicz, Chief Executive Officer. "
The KL West property
holds tremendous potential for
gold-rich
critical mineral deposits, particularly of copper and zinc. We
look forward to this year's exploration programs to unlock the full potential surrounding the Winne
Lake Pluton and to discover additional mineralization."
Geological Setting
The Winnie Lake Property ("Winnie") is underlain by a folded sequence of Blake River Assemblage
(BRA) mafic to intermediate volcanics intruded by the synvolcanic
Winnie Lake Pluton
(~2,677 Ma).
The BRA is the youngest volcanic sequence in the Abitibi Greenstone Belt which hosts the
highest
concentration of VMS Cu-Zn deposits.
Approximately
50% of total VMS tonnage
and
90% of VMS-associated gold
in the Abitibi occur
within the BRA
1
. The Noranda camp, 60 km east of Winnie, includes
17 past-producing VMS mines
.
Subvolcanic intrusives in the Noranda camp are considered 'heat engines' for VMS formation-which
Winnie's geological setting parallels
2
.
Underpinning Winnie is the Shaft Zone, a gold-rich VMS system that has yielded significant drill results
including:
Pamorex Resources, 1989
:
TWL-89-01
1.93% Cu, 1.51% Zn, 0.786 g/t Au and 12.1 g/t Ag over 18.41 m (from 11.89 m)
2.44% Cu, 3.63% Zn, 1.376 g/t Au and 16.5 g/t Ag over 10.12 m (from 31.15 m)
within a broader intercept of 1.34% Cu, 1.53% Zn, 0.638 g/t Au, 9.5 g/t Ag over 47.12 m (from 11.89 m)
Surface grab samples historically returned up to
25% Cu, 13% Zn and 2.74 g/t Au.
Golden Valley, 2005:
GWL-05-04 (Shaft Zone)
1.5% Zn, 0.34% Cu, 8.15 g/t Ag over 9.32m (incl. 17.0% Zn over 0.32 m)
GWL-05-01 (1.4km West):
1.96% Zn and 4.73% Pb over 0.82 m
GWL-05-06 (300m SE)
1.82% Zn and 0.90 g/t Ag over 0.31m in epidote-altered mafic volcanics
There has been
no drilling at Winnie since 2005
. These mineralized zones remain
open along strike
and at depth
, along with several untested IP geophysical anomalies associated with oval 'bullseye'
magnetic highs (Image 2).
Image 2: Magnetic High targets surrounding Winnie Lake Pluton.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5701/250076_f88ff9fb94ffa886_002full.jpg
This magnetic signature continues into KLDC's KL West Property, representing a series of
high-
priority,
untested VMS targets
around the edge of the Winnie Lake Pluton.
With excellent road access, proximity to infrastructure, and a supportive mining jurisdiction, the Company
views the consolidated Winnie Lake area as a highly prospective setting for future critical and precious
metals discoveries.
Kirkland Lake Discoveries is currently planning a follow-up program that will include detailed geological
mapping and a spring/summer drill program to expand known zones and test new geophysical targets.
Winnie Lake-Amikougami Transaction Details
KLDC will issue
1,750,000 common shares
to Val-d'Or Mining Corporation upon Exchange
approval.
KLDC must incur a total of
$1.2 million in exploration expenditures
over four years, including:
$150,000 before year one
$250,000 before year two
$350,000 before year three
$450,000 before year four
Upon exercise of the option, Val-d'Or Mining Corporation will retain a
Net Smelter Returns
(NSR) royalty
of:
0.75% NSR
on claims subject to the existing
GROY Royalty
(with KLDC assuming the
1.25% GROY NSR and associated buyback rights), and
2.0% NSR
on other claims not subject to the Golden Valley Royalty.
Gryba Transaction Details
KLDC will issue
200,000 common shares
to Charles Gryba
Charles Gryba will retain a NSR royalty of 1% with the option to buy back 0.5% for $500,000 at the
time the Company issues a pre-feasibility study with respect to the Gryba claims.
Mathew Transaction Details
KLDC will issue
200,000 common shares
to Sudeep Mathew
Sudeep Mathew will retain a NSR royalty of 1% with the option to buy it back for $500,000 at the
time the Company issues a pre-feasibility study with respect to the Mathew claims.
All transactions are subject to the approval of the
TSX Venture Exchange.
KLDC Treasure Hunters - Episode 12: Locking Up the District
In the latest episode of
KLDC Treasure Hunters
, CEO Stefan Sklepowicz and Senior Geologists Mike
Kilbourne and Drake Hyden discuss the significance of the Winnie Lake consolidation and what it
means for upcoming exploration.
The newest episode "
Locking Up the District,"
can be found on the
Company's
YouTube Channel
.
QP Statement
The technical information contained in this news release has been approved by Mike Kilbourne, P.Geo.
who is a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral
Projects. The QP and the Company have not independently verified the accuracy of historical exploration
data presented.
About Kirkland Lake Discoveries Corp.
Kirkland Lake Discoveries Corp. is a TSX Venture Exchange-listed company that has recently
consolidated a district-scale, highly prospective land package in the Kirkland Lake Gold Camp in
Ontario, Canada. The properties are situated within the Abitibi Greenstone Belt, one of the world's most
richly endowed greenstone belts, with over 200 million ounces of gold produced to date.
3
The Company's properties host regional and property-scale mineralized structures, considered second-
order structures off the Larder Lake Cadillac Deformation Zone (LLCDZ), a major regional structure
known for its spatial association with gold mines in the camp.
The properties assembled by the Company are grouped into two key areas: KL East, which includes the
Lucky Strike Property, Arnold Property, and KL Central, and KL West, which encompasses the
Goodfish-Kirana and the KL West Properties. KLDC's land position spans approximately 38,000 ha
over 1,338 claims and 29 patented claims, making the Company the largest landholder in the Kirkland
Lake region.
For additional information, please contact:
Stefan Sklepowicz
Chief Executive Officer
www.kirklandlakediscoveries.com
+1 226 979 3515
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Statements
This news release contains certain "forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of applicable securities legislation. All
statements, other than statements of historical fact, included herein, without limitation, statements
relating the future operations and activities of Kirkland Lake Discoveries, are forward-looking
statements. Forward-looking statements are frequently, but not always, identified by words such as
"expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar
expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or
be achieved. Forward-looking statements in this news release relate to, among other things, the
Company's three-phase drill program, the results thereof, and any impact therefrom. There can be no
assurance that such statements will prove to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Forward-looking statements reflect the beliefs,
opinions and projections on the date the statements are made and are based upon a number of
assumptions and estimates that, while considered reasonable by Kirkland Lake Discoveries, are
inherently subject to significant business, economic, competitive, political and social uncertainties and
contingencies. Many factors, both known and unknown, could cause actual results, performance or
achievements to be materially different from the results, performance or achievements that are or may be
expressed or implied by such forward-looking statements and the parties have made assumptions and
estimates based on or related to many of these factors. Such factors include, without limitation, the ability
to complete proposed exploration work, the results of exploration, continued availability of capital,
changes in general economic, market and business conditions, and the ability to obtain any requisite
approvals. Readers should not place undue reliance on the forward-looking statements and information
contained in this news release concerning these items. Kirkland Lake Discoveries does not assume any
obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors,
should they change, except as required by applicable securities laws.
________________________
1
Recommendation for Exploration 2017-2018, Ontario Geological Survey
2
Ontario Geological Survey, 2005. Open File Report 6160
3
Canada's Gold Exploration Frontier: The Abitibi Greenstone Belt -
https://www.visualcapitalist.com/sp/canadas-gold-exploration-frontier-the-abitibi-
greenstone-belt/
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/250076