Gold Explorer Uncovers 'Jaw-Dropping' High-Grade Gold in Ontario

Important Disclosures:

1. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
2. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

For additional disclosures, please click here.

1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Kirkland Lake Discoveries Corp. (KLDC:TSXV; KLKLF:OTC) has reported assay results from seven additional drill holes at the Mirado Gold Project in northeastern Ontario, according to an August 18 release.

The results highlight broad near-surface mineralization, high-grade gold beneath the historical resource, and continued expansion of the North Zone, the release said. The company has also completed six regional holes at the MZ Zone and four more southwest of Mirado, where drilling encountered intense hydrothermal alteration and sulfide mineralization. Assays from the MZ Zone and regional drilling remain pending.

"We continue to see broad, continuous bulk-tonnage style mineralization carrying significant, structurally controlled high-grade intercepts at Mirado," said Chief Executive Officer Stefan Sklepowicz. "We continue to expand the resource footprint at Mirado and are strongly encouraged by the visuals in the first ten regional step outs across KL South."

At the South Zone, hole KLM26-022 returned a high-grade intercept of 20.29 grams per tonne gold (g/t Au) over 4.4 meters from 177.6 meters to 182 meters. Hole KLM26-021 also demonstrated the potential for broad, continuous mineralization, intersecting 0.34 g/t Au over 41.2 meters from 123.8 meters to 165 meters, followed deeper in the hole by 1.33 g/t Au over 18 meters from 265 meters to 283 meters.

Step-out drilling has continued to extend the North Zone, with hole KLM26-023 returning 2.27 g/t Au over 9.1 meters from 37.9 meters to 47 meters, including 3.98 g/t Au over 5 meters. The same hole also intersected 0.34 g/t Au over 21 meters from 191 meters to 212 meters.

The six completed holes at the MZ Zone intersected intense silica-chlorite-epidote alteration accompanied by disseminated and fracture-filled pyrite, while assays remain outstanding, the company said. Four additional regional holes southwest of Mirado encountered intense silica-potassic-hematite-epidote alteration together with broad disseminated and fracture-filled chalcopyrite and pyrite. Assays from a total of 22 holes are now pending.

Details of Results

The assay data from drill holes KLM26-020 through KLM26-026 are providing KLDC with further insight into the geological characteristics of the Mirado project, the release said. The results cover five holes in the South Zone — KLM26-020, KLM26-021, KLM26-022, KLM26-024, and KLM26-026 — along with two in the North Zone, KLM26-023 and KLM26-025. Beyond the high-grade South Zone and North Zone intercepts already noted above, the additional assay results were as follows.

In the South Zone, hole KLM26-024, which represented an 80-meter step-out, cut several mineralized intervals. These included 0.32 g/t Au across 29.9 meters from 163.1 meters to 193 meters, followed by 1.33 g/t Au over 18 meters from 209 meters to 227 meters, including 2.06 g/t Au over 11 meters. The hole also intersected 0.20 g/t Au over 36 meters between 259 meters and 295 meters. Together with the broad mineralization reported earlier from hole KLM26-021, these results indicate that the South Zone hosts a substantial and laterally persistent mineralized envelope. Hole KLM26-020 added to the near-surface potential, returning 0.19 g/t Au over 24 meters from 172 meters to 196.0 meters.

North Zone drilling also produced encouraging results, with hole KLM26-025 intersecting 0.60 g/t Au over 10 meters from 6 meters to 16 meters near surface, including 1.64 g/t Au over 3.3 meters.

The latest cross-sectional interpretations show that these mineralized intervals generally lie beneath or alongside the historical resource shell. The results therefore extend the known mineralized footprint farther down-dip and point to additional exploration potential across the property.

KLDC is still waiting for assay results from six holes drilled at the MZ Zone, situated approximately 500 meters west of Mirado. Those holes encountered strong silica-chlorite-epidote alteration containing disseminated and fracture-filled pyrite.

The company has also finished four more regional exploration holes southwest of the Mirado deposit. Drilling in this area intersected broad disseminated mineralization along with fracture-filled chalcopyrite and pyrite associated with intense silica-potassic-hematite-epidote alteration. In total, 22 additional holes have now been completed and remain pending assay results.

Interactive 3D Model Available

Kirkland Lake Discoveries also told investors and other stakeholders that they can review KLDC's drilling through a publicly available interactive 3D model hosted by Mining Hub. The model displays drill-hole information, mineralized intervals and interpreted exploration targets.

KLDC's latest Treasure Hunters video episode also offers an on-site look at the company's drilling and exploration activities. Sklepowicz and VP Exploration Ben Cleland provide commentary on the newest results and the continuing Mirado drill program.

Expert: 'Jaw-Dropping' Gold Assays

Bob Moriarty of 321gold.com told Streetwise that the company "continues to deliver jaw-dropping gold assays."

"Seven more holes were released on Wednesday ... including a giant 20.29 g/t gold over 4.4 meters," Moriarty said. "Look for an additional 10 holes in the MZ Zone and SW of Mirado to be announced soon."

On August 18, Pluang reported that KLDC had completed a 65-hole, 19,161.9-meter drill program at its KL West project, identifying three distinct mineralizing systems and confirming gold across multiple targets in a district-scale effort aimed at generating multiple discoveries.

"The company plans to refine 3D targeting models and focus on high-confidence targets such as Winnie Lake and Wolverine Bend to advance exploration," the report said.

The Catalyst: 'Gold's Trend Is Improving'

According to Kitco NewsWire on August 19, spot gold and silver surged on Wednesday as falling Treasury yields and a weaker U.S. dollar helped precious metals break key resistance levels despite hawkish signals in the latest Federal Reserve minutes. Gold traded near US$4,521.00 an ounce, up 4.33%, while silver climbed 5.29% to US$66.550. Gold broke above US$4,448 and the US$4,480-US$4,500 range before reaching US$4,523.10, while silver pushed through US$64, US$65, and US$66 to touch US$66.81.

The Treasury's decision to increase long-dated bond buybacks drove yields lower, with the 10-year Treasury yield moving toward 4.6% and the 30-year yield toward 5.2%, while the dollar weakened. The Fed voted 9-3 in July to maintain its 3.50%-3.75% target range, with Beth Hammack, Neel Kashkari, and Lorie Logan dissenting in favor of a 25-basis-point hike. Markets now see a 56% chance of a September hike, down from 82% immediately after the July decision. Lower real-rate pressure ultimately outweighed the Fed's hawkish tone for gold.

The Strait of Hormuz remains a source of geopolitical and inflation risk, with Brent near US$91 and WTI around US$85 as markets monitor tanker traffic. For precious metals, falling yields and a weaker dollar remain supportive, although elevated oil prices could keep inflation concerns from fading quickly. Thursday's jobless claims and Philadelphia Fed index, followed by Friday's preliminary PMI data, will provide the next major economic tests.

On August 20, Kitco's Ernest Hoffman noted that Charlie Morris, CIO and founder of ByteTree, argues that Washington is effectively running several large quantitative easing programs at once, and he credits that dynamic for gold's climb — with room to run further. In the latest Atlas Pulse Gold Report, he cast Treasury Secretary Scott Bessent's decision to double the department's purchases of long-dated Treasuries as a bid to hold down federal borrowing costs.

Morris has turned bullish on where the metal is heading. "Gold's trend is improving," he wrote, adding, "We could be back above the 200-day moving average before you can spell S-T-A-G-F-L-A-T-I-O-N."

He also flagged the sheer scale of federal borrowing, noting that public debt had just reached $40 trillion and that its pace has accelerated — from 3.7% a year in the 1990s to 7.8% before the pandemic and 8.6% since. Over a century, he said, gold has tracked that rising debt: "The total value of the world's above-ground gold supply has kept up with the total outstanding US debt over a century." Because mine supply grows so slowly, price has carried the rest: "The gold supply can only rise at around 2% [per year], and so the gold price has had to do the rest."

Ownership and Share Information¹

Kirkland Lake Discoveries Corp. has a market cap of CA$57.2 million, with 205.63 million shares outstanding. The company's 52-week range is CA$0.13-CA$0.67. Strategic investors own 39.74% of shares, and management and insiders own 0.02% of shares. The remaining 60.24% of shares are held by Retail.

Common Investor Questions

What did Kirkland Lake Discoveries announce? On August 18, 2026, KLDC released assay results from seven additional drill holes (KLM26-020 through KLM26-026) at its Mirado Gold Project in northeastern Ontario, reporting broad near-surface mineralization, high-grade gold beneath the historical resource, and continued expansion of the North Zone.

What was the standout result? South Zone hole KLM26-022 returned 20.29 g/t gold over 4.4 meters (177.6–182.0 m) — the intercept Bob Moriarty of 321gold.com called part of a run of "jaw-dropping gold assays." An 80-meter step-out, KLM26-024, added multiple intervals and, with KLM26-021, points to a substantial, laterally persistent mineralized envelope in the South Zone.

Where is the Mirado project and how is it laid out? Mirado sits in northeastern Ontario's Kirkland Lake gold district. Recent drilling has focused on the South and North zones, with regional step-outs at the MZ Zone (about 500 meters west of Mirado) and southwest of the deposit.

What's still pending? Assays from 22 additional holes remain outstanding — six at the MZ Zone, four regional holes southwest of Mirado, and 12 more — several of which encountered intense alteration and sulfide mineralization. Moriarty expects roughly 10 of those (the MZ and southwest holes) to be reported soon.

How can investors review the drilling? KLDC has published an interactive 3D model hosted by Mining Hub showing drill-hole data, mineralized intervals, and interpreted targets, and its latest "Treasure Hunters" video episode features on-site commentary from Sklepowicz and VP Exploration Ben Cleland.