Kirkland Lake Discoveries Corp. (KLDC:TSXV; KLKLF:OTCQB) has delivered the first two drill holes from regional testing around the Mirado deposit at its KL South Project, 18 km south of Kirkland Lake, Ontario. The results include broad near-surface gold intercepts that expand the known mineralized footprint by more than 600 meters westward.
The standout intercept came from hole KLM26-037, which returned 1.22 g/t gold over 69.50 meters starting at 33.00 meters depth, including a higher-grade core of 5.67 g/t gold over 12.00 meters. Hole KLM26-035, drilled in the opposite direction from the same collar, cut multiple mineralized intervals from near surface to depth, highlighted by 36.72 g/t gold over 1.01 meters.
Why the Mirado West Results Matter Now
These intercepts arrive as gold prices remain elevated and investor interest in gold equities is accelerating. Morningstar reported on September 3 that gold rose almost 10% in August after retreating from its January record and briefly traded above US$4,700 per ounce. Central banks continue to add to reserves, with 289 tons purchased in the second quarter alone, according to World Gold Council data cited by Morningstar.
The timing is relevant for junior explorers because mining equities have outperformed the metal itself. The Morningstar Global Gold Index rose 31.8% in August versus a 9.7% gain in spot gold. Trading Economics reported on September 4 that gold was trading at approximately US$4,469.07 per ounce, supported by a weaker U.S. dollar and ongoing geopolitical factors.
Company Position and Project Scale
Kirkland Lake Discoveries controls a large land package in the Abitibi Greenstone Belt. The Mirado West discovery demonstrates that the historical Mirado deposit sits within a much larger contiguous gold system.
The new drilling has increased the lateral mineralized footprint to more than 1,300 meters, Chief Executive Officer Stefan Sklepowicz stated in the announcement.
Key Investor Takeaways
- Drill hole KLM26-037 intersected 1.22 g/t gold over 69.50 meters from 33 meters depth at the newly named Mirado West zone.
- Mineralization now extends more than 600 meters west, doubling the lateral footprint of the Mirado system to over 1,300 meters.
- A historical inferred resource of 442,000 ounces at 1.29 g/t gold remains open at depth and in all directions.
- Twenty-one additional holes from the summer 2026 program are still awaiting assays, as of September 9, 2026.
- Gold market conditions remain supportive, with central-bank buying and ETF inflows both rising in 2026.
- Further expansion and infill drilling, plus an updated resource estimate, are planned through 2026 and into 2027.
Assets, Next Catalysts, and Work Programs
Kirkland Lake Discoveries' September 2026 investor presentation outlines an active 26,000-meter drill program at KL South with 3,000 meters remaining. The company plans continued systematic expansion drilling around Mirado through the remainder of 2026. A separate 25,000-meter fall and winter program focused on expansion, infill, and regional targets is also scheduled.
Regional targets at KL South include Charest, Bank, and Gold Hill. At the separate KL West project, 65 holes totaling 19,161.9 meters were completed in 2026 across ten target areas, confirming gold and polymetallic VMS mineralization at several locations.
Sector Timing and Broader Context
Fortune reported on September 3 that De Nederlandsche Bank moved 86 tons of gold from New York and Ottawa to London between March and August. The move was attributed to geopolitical considerations and the desire for greater tradability of reserves. Global gold ETF inflows reached approximately US$2 billion in July after a flat second quarter.
Moriarty Highlights 600-Meter Gold Extension at Mirado
In a September 8 commentary, Bob Moriarty of 321 Gold highlighted Kirkland Lake Discoveries' latest assay results from the Mirado prospect, 18 kilometers south of Kirkland Lake.
"Kirkland Lake Discoveries just released more assay results from their Mirado prospect 18 km south of Kirkland Lake," Moriarty wrote. "Holes KLM26-035 and KLM26-037 were part of a regional test program around the main Mirado deposit."
Moriarty specifically highlighted both holes and the expansion of the mineralized footprint. "KLM26-037 showed 1.22 g/t gold over 69.5 meters from near surface. KLM26-035 showed economic gold in five different zones," he wrote. "These holes have extended mineralization by 600 meters to the west and extend the footprint of the deposit over 1300 meters."
Moriarty also pointed to additional results still to come, writing, "Assay results from additional holes are pending."
Share Structure and Near-Term Events1
Kirkland Lake Discoveries Corp. had 205.63 million shares outstanding as of August 20, 2026. Strategic investors held 39.74%, management and insiders held 0.02%, and retail investors held 60.24%.
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 |
With assays pending from 21 holes and multiple drill programs advancing, investors have several data points to monitor in the coming months. The company also lists an updated resource estimate at Mirado among its catalysts.
Common Questions from Investors
What were the key gold intercepts at 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. KLM26-035 cut several intervals, including 36.72 g/t gold over 1.01 meters.
How has the Mirado mineralized footprint changed?
The new drilling extended known mineralization more than 600 meters west, increasing the lateral footprint to more than 1,300 meters.
What is the status of the historical Mirado resource?
The September 2026 presentation lists a historical inferred resource of 10.6 million tonnes at 1.29 g/t gold for 442,000 ounces. The estimate is not considered current and remains open below 250 meters and in all directions.
How many holes are still pending assay?
Twenty-one holes from the summer 2026 program are awaiting results, including eight from Mirado North and South, seven from Mirado West, and six from regional targets.
What are the next major work programs?
Focused expansion drilling continues at Mirado through 2026, a 25,000-meter fall and winter program is planned, and an updated resource estimate is listed as a catalyst.
Important Disclosures:
- Jordan Nova wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- 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.
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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.
