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Lab Report | July 23 Deep Dive on Kirkland Lake Discoveries

CEO.CA Jul 23, 2026 23:31

Summary

Kirkland Lake Discoveries' Marado gold system now reads as two targets: wide near-surface open-pit material plus high-grade underground vein potential.

The 18.99 grams per tonne hit over 6.7 metres is orogenic (structurally controlled vein) gold, the grade profile underground mines chase.

Near-surface runs of 0.5-1 grams per tonne beat the open-pit industry average, which sits just under half a gram per tonne.

The host reads the deposit as plumbing: cracks channel gold-bearing fluids up into sponge-like permeable rock, which spreads mineralization wide.

Catalysts stack up fast - 16 hole results pending, a regional drill permit secured, and untested ground 500 metres west.

Stefan Skelpowitsch's takeaways

  • Top takeaway In the news release quote read on the episode, Skelpowitsch argues the results matter because they demonstrate three dimensions at the property, with the campaign materially expanding the broad near-surface mineralization footprint — the open-pit-style portion.
  • He points to the high-grade structures below the historic resource as feeder orogenic veins feeding the near-surface zone, and says the north zone has been extended.
  • He highlights the importance of the alteration and sulfide mineralization intersected on the regional hole, which he reads as an early indication that a hydrothermal corridor may extend well beyond the historic deposit footprint.
  • He notes the company now holds a regional drilling permit, and says 16 additional holes are pending with drilling continuing as of the July 23 announcement.

Allan Barry Laboucan's takeaways

  • Top takeaway Laboucan states he is very bullish on the drill results and a happy shareholder, and that the one-cent share move on July 23 tells him more about gold's action than about the news itself.
  • His core thesis is that the drilling is exposing the plumbing: orogenic veins carry gold upward into a sponge-like permeable rock unit, and that shatter-and-fill setting implies potential for multiple high-grade feeder veins in a powerful mineralizing system.
  • He says the structural work shows the deep cracks are the path of least resistance for the metal-bearing fluids, and that he is most excited about depth potential for high-grade veins below the roughly 500,000 oz footprint that still need to be modelled.
  • He reads the recent decline as mostly gold-driven rather than company-driven, notes bids were heavier than offers at the time of the episode, and sees the chart building a base that could trade higher if gold improves.
  • He praises the company's own news-release video as a useful complement to the written release for understanding the new geological model.