KIRKLAND Lake Gold has announced new, high-grade results from both its Fosterville Operation in Victoria, and Canadian-based Macassa operations.

Recent surface drilling at Robins Hill, Fosterville, has confirmed an extended mineralisation down-plunge of the existing mineral resource, outside of the current resource.

Key drilling results that confirmed mineralisation at depth were 3.7mat 24.5g/t gold, including 1m at 82.3g/t gold; and 8.8m at 11.7g/t gold, including 0.5m at 81.7 g/t gold.

Kirkland Lake Gold chief executive Tony Makuch said that the company believed there were “more Fostervilles at Fosterville” for a long time, and that Robbin’s Hill had emerged “clearly” as a second potential mining front to provide feed to the Fosterville mill.

“Based on current drilling, we have already identified a large mineralised system at Robbin’s Hill that we expect will support substantially higher levels of Mineral Resources and that remains open at depth and along strike,” he said.

“The level of VG in quartz that we’ve intersected in this area compares favourably to levels seen at the existing Fosterville Mine at similar elevations.

“The presence of VG in quartz and 500m down-plunge extension of Robbin’s Hill mineralisation highlight the potential for future discoveries of high-grdae, VG-bearing zones at depth similar to Swan and Eagle at Fosterville’s Lower Phoenix system.”

Drilling will continue at the deposit as well as a 3D seismic survey across 6sqkm to the north of the Fosterville licence.

The company announced a dividend of US$0.06c per common share, a 50pc increase on the previous quarterly dividend of US$0.04c per common share.

Kirkland Lake has gone from strength to strength since the discovery of the Eagle Zone in 2015, with 2019 guidance set at 950,000-1moz.