Kirkland Lake Discoveries Corp. (KLDC:TSXV; KLKLF:OTCQB) reported the first two drill holes from regional testing around the Mirado deposit at its KL South Project, 18 km south of Kirkland Lake, Ontario. Holes KLM26-035 and KLM26-037 intersected multiple intervals of gold mineralization at a target previously called MZ, which the company has renamed Mirado West.
KLM26-037 returned 1.22 g/t gold over 69.50 meters from 33.00 meters, including 5.67 g/t gold over 12.00 meters. The company said the mineralization and alteration are consistent with the Mirado South Zone and are interpreted to be contiguous with the historical deposit.
KLM26-035, drilled from the same pad in the opposite direction, returned several gold intervals beginning near surface and continuing at depth. Results included 0.35 g/t gold over 21.18 meters from 19.50 meters, 0.65 g/t gold over 15.83 meters from 65.17 meters, 0.34 g/t gold over 11.23 meters from 95.50 meters, 36.72 g/t gold over 1.01 meters from 174.49 meters, and 0.89 g/t gold over 11.60 meters from 222.40 meters. The latter interval included 3.70 g/t gold over 2.30 meters.
The Mirado West drilling extended known mineralization more than 600 meters west and increased the lateral mineralized footprint of the Mirado system to more than 1,300 meters. The company's September 2026 investor presentation said the Mirado West discovery more than doubled the mineralized footprint length to 1,300 meters and that multiple holes at the South and North zones had extended mineralization laterally and at depth.
"The discovery at Mirado West is a transformative milestone for Kirkland Lake Discoveries. Intercepting broad, near-surface mineralization validates our regional targeting and significantly scales up the project," Chief Executive Officer Stefan Sklepowicz stated in the announcement. "By extending our mineralized footprint to over 1,300 meters, we are demonstrating that Mirado is part of a much larger, contiguous gold system."
The September 2026 investor presentation lists a historical resource at Mirado of 10.6 million tonnes at 1.29 g/t gold for 442,000 inferred ounces. The 2013 historical estimate used a 0.45 g/t gold cutoff and a US$1,400 per ounce gold-price assumption. The presentation states that the historical resource is untested below 250 meters and open in every direction. It also notes that the historical estimate is based on work completed in 2013, that a qualified person has not done sufficient work to classify it as a current mineral resource, and that Kirkland Lake Discoveries is not treating it as a current mineral resource.
The company reported that 21 additional holes from the summer 2026 drill program were awaiting assay results. Those consisted of eight holes from Mirado North and South, seven from Mirado West, and six from regional targets.
Drilling, Assays, and a New Mirado Resource on the Work List
Kirkland Lake Discoveries' September 2026 investor presentation identifies several additional work programs and milestones at KL South. The company's September 2026 investor presentation lists an active 26,000-meter drilling program with 3,000 meters remaining. As of September 9, the company reported that 21 holes were pending assays.
The company plans to continue focused expansion drilling around Mirado through 2026. The presentation states that drilling will continue to work outward systematically to expand the mineralized footprint.
The 21 pending holes comprise eight at Mirado North and South, seven at Mirado West, and six at regional targets. Regional testing includes Charest, Bank, and Gold Hill, with the presentation listing 277 grab samples and 67 till samples. Historical environmental work has also been completed at Mirado, and existing test stations are in place.
A separate fall and winter drill program of 25,000 meters is planned at KL South. The program is designated for expansion, infill drilling, and regional testing. Kirkland Lake Discoveries also lists an updated resource at Mirado among its catalysts.
At KL West, the company's 2026 drill program comprised 65 holes totaling 19,161.9 meters across 10 target areas. Gold mineralization was confirmed at Winnie Lake and Wolverine Bend, while the company identified polymetallic VMS mineralization at Winnie Lake, Sharp and Hammerhead; intrusion-related gold at Winnie Lake, Wolverine Bend, Nine Mile and Cross Roads; and structurally controlled gold at Leahy-Queenston, Cougar, Wolf and Moosehead.
Streetwise Ownership Overview*
Kirkland Lake Discoveries Corp. (KLDC:TSXV;KLKLF:OTCQB)
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 10/13/23 | WARGF:OCTQB | 1 | KLKLF:OCTQB | 1 |
| 06/07/23 | WARGD:OCTQB | 1 | WARGF:OCTQB | 1 |
| 05/10/23 | WAR:TSXV | 4 | KLDC:TSXV | 1 |
| 05/10/23 | WARGF:OCTQB | 4 | WARGD:OCTQB | 1 |
| 10/01/18 | WARGF:OCTQB | 1 | WARGF:OCTQB | 1 |
| 08/25/11 | WARGD:OCTQB | 1 | WARGF:OCTQB | 1 |
| 07/28/11 | WARGF:OCTQB | 20 | WARGD:OCTQB | 1 |
| 07/22/11 | WAR:TSXV | 20 | WAR:TSXV | 1 |
| 01/02/04 | WAREF:OCTQB | 6 | WARGF:OCTQB | 1 |
| 12/31/03 | WEM:TSXV | 6 | WAR:TSXV | 1 |
The next steps identified for KL West are the incorporation of drill results into 3D models to refine prospective target areas and the prioritization of the highest-confidence targets at Winnie Lake and Wolverine Bend for an expanded drill program in the future.
Ownership and Share Information1
Kirkland Lake Discoveries Corp. had 205.63 million shares outstanding as of August 20, 2026. Strategic investors held 39.74% of shares, management and insiders held 0.02%, and retail investors held the remaining 60.24%.
Important Disclosures:
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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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.
