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$Kirkland Lake Gold Announces Filing of Amended and Restated Detour Lake Mine Technical Report
https://www.kl.gold/news-and-media/default.aspx
TORONTO, Oct. 20, 2021 (GLOBE NEWSWIRE) --
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that it has filed on SEDAR an amended and restated National Instrument 43-101 –
Standards of Disclosure for Mineral Projects (“NI 43-101”) technical report (the “Amended Report”) with respect to the updated Mineral Resource estimates for the Detour Lake Mine (“Detour Lake”) released on September 2, 2021 (the “Mid-Year 2021 Mineral Resource Estimates”).
As with the original technical report filed on October 15, 2021, the Amended Report is entitled, “Detour Lake Operation, Ontario, Canada, NI 43-101 Report” and is effective as of July 26, 2021.
There are no material differences between the Amended Report and the original technical report and there are no differences in the Mid-Year 2021 Mineral Resource Estimates.
The Amended Report includes revisions to address formatting issues affecting the presentation of Tables 1-3, 1-4, 14-23 and 14-24.
This Amended Report replaces the previously filed technical report.
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021.
The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia.
Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.klgold.com
Risks and Uncertainties
The exploration, development and mining of mineral deposits involves significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate. Kirkland Lake Gold is subject to several financial and operational risks that could have a significant impact on its cash flows and profitability. The most significant risks and uncertainties faced by the Company include: the price of gold; the uncertainty of production estimates (which assume accuracy of projected grade, recovery rates, and tonnage estimates and may be impacted by unscheduled maintenance, labour and other operating, engineering or technical difficulties with respect to the development of its projects, many of which may not be within the control of the Company), including the ability to extract anticipated tonnes and successfully realizing estimated grades; the threat of outbreaks of viruses or other infectious disease, including COVID-19; changes to operating and capital cost assumptions; the inherent risk associated with project development and permitting processes; the uncertainty of the mineral resources and their development into mineral reserves; the replacement of depleted reserves; foreign exchange risks; changes in applicable laws and regulations (including tax legislation); reclamation obligations; regulatory; tax matters and foreign mining tax regimes, as well as health, safety, environmental and cybersecurity risks. For more extensive discussion on risks and uncertainties refer to the “Risks and Uncertainties” section in the December 31, 2020 Annual Information Form and the Company’s MD&A for the period ended December 31, 2020 filed on SEDAR and on EDGAR.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release constitute ‘forward looking
statements’, including statements====can be upgraded to mineral
reserves through continued exploration and positive economic
assessment.
Information Concerning Estimates Of Mineral Reserves And Measured, Indicated And Inferred Resources
FOR FURTHER INFORMATION, PLEASE CONTACT:
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884, E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884, E-mail: mutting@kl.gold
CMJ Reimagine Mining event hears from Kirkland Lake CEO Tony Makuch on
Agnico merger, electrification
Amanda Stutt | October 13, 2021 | 12:17 pm News Canada Gold
Tony Makuch. Credit: Kirkland Lake Gold
Canadian Mining Journal held its first Reimagine Mining Suppliers Symposium on Wednesday in partnership with Costmine, welcoming president and CEO of Kirkland Lake Gold (TSX: KLG), Tony Makuch, as its keynote speaker.
Kirkland Lake is in the midst of one of the Canadian gold sector’s most important mergers in recent memory with Agnico Eagle Mines (TSX: AEM), with Makuch, soon to be CEO of the new Agnico Eagle.
SIGN UP FOR THE PRECIOUS METALS DIGEST
As part of session moderated by Henry Lazenby, multimedia content producer with CMJ’s sister publication, The Northern Miner, Makuch fielded questions from the audience, including those about why Agnico Eagle did not offer a sizeable premium on the Kirkland Lake share price.
“Kirkland Lake Gold has a track record of growing itself as a company,” he said. “In making a premium deal, you have to see new value that can be created. If we insisted on a premium, it’s the same as me saying to shareholders we haven’t created the value we could have for you.”
The mega-merger was announced on Sept. 28 – a deal that will create a high quality, senior producer with 48 million oz. of gold in reserves. The boards of both companies have approved the arrangement, and current Agnico CEO Sean Boyd will become chair of the board.
The deal carries $2 billion worth of savings through synergy. But where will they come from?
According to Makuch, savings can be found by sharing exploration knowledge, technology, processing opportunities, infrastructure, and the support of local communities and regulators both Agnico Eagle and Kirkland Lake have.
If Kirkland Lake embarks on a project that might take it three or four years, such as creating a smart mine, Makuch said they would look to an Agnico mine where it has already been done, and the implementation timeline would be shortened.
“Unlocking technology will play a big part in reducing costs,” Makuch said. “We rely on exploration technology to drive value in our industry. . . If we can find an ounce of gold for $5 or $10, then upgrade the resources for $150 an ounce, you have created value.”
Likewise, technology and R&D will play a big part in unlocking synergy.
The merger is worth an estimated $13.5 billion as Kirkland Lake shareholders will receive 0.7935 of an Agnico Eagle common share for each of their shares.
Kirkland Lake’s strengths are the Macassa and Detour Lake gold mines in Ontario and the Fosterville gold mine in Victoria, Australia. Agnico Eagle has built its strength on the Meadowbank, Canadian Malartic, Goldex, Hope Bay, LaRonde, and Meadowbank gold mines in Canada. The company also has gold mines in Mexico (Pinos Altos and La India), and Finland (Kittila). Both companies have pipeline projects that create a synergy for the future.
Aggressive exploration to continue
“The new Agnico Eagle is always going to be an aggressive explorer, and we have the capital resources to do that,” he added.
Makuch also sees advantages to electrifying underground beyond savings on ventilation, based on experience implementing battery electric equipment at Kirkland Lake’s operations in Ontario.
“Such trucks are already fitted with computers. (That’s) how we can create a smart or autonomous piece of equipment. Then you can connect them all and create a smart mine,” he said.
The merged Agnico-Kirkland Lake will maintain the goal of net-zero carbon emissions by 2050 or before.
“We can get to net zero if we close all our mines,” Makuch said, “but we want to operate our mines.” That means improving processes, going electric, adopting smart technologies, and always seek sustainability.
“The big challenge is people. Innovations and change need trained people and people with new skills,” he said. He wants the new company to get away from underground diesel engines and the exposure of people to diesel exhaust fumes.
He said that to create a sustainable business, part is technology, and part is how people and the environment are treated, how processes are improved, how business support can be more efficient – at the same time keep costs at the low end of the industry.
“Over the next few years, there are going to be exciting times,” Makuch promised.
A load of ideas for the future
Besides keynote speaker Tony Makuch, the morning keynote at CMJ Reimagine Mining Symposium was given by George Hemingway, managing partner and head of innovation practice at Stratalis. He spoke on how to harness trends to get mining’s message to the public.
There were future-focused panels on the pathway to decarbonization in mining; how to get the public to view mining positively sponsored by SRK; as well one on capturing data beyond line of site sponsored by Emesent. Also looking to the future, speaker Brad Terhune of Costmine offered pointers for estimating project costs, and Don Duval of Norcat outlined how mining companies are speeding up their adoption of technology.
CMJ thanks all its sponsors including Sandvik (global), Eaton (silver), Eaton (silver), BBA (bronze) and KalTire (bronze) and corporate presenter Exyn Technologies.
Links to recordings of the symposium will be available on the CMJ website next week, and coverage of the event will be included in our December issue.
Market Analysis » Just 72 Hours from Anarchy – Bill Holter
Just 72 Hours from Anarchy – Bill Holter
By Greg Hunter On October 12, 2021 In Market Analysis 4 Comments
By Greg Hunter’s USAWatchdog.com
https://usawatchdog.com/just-72-hours-from-anarchy-bill-holter/
bigone Note; The Beginning Of The End" | Alasdair MacLeod
1,441 views Premiered 69 minutes ago
Liberty and Finance
61.5K subscribers
Jimbo8 Note; CMJ Reimagine Mining event hears from Kirkland Lake CEO Tony Makuch on
Agnico merger, electrification
Amanda Stutt | October 13, 2021 | 12:17 pm News Canada Gold
Tony Makuch. Credit: Kirkland Lake Gold
Canadian Mining Journal held its first Reimagine Mining Suppliers Symposium on Wednesday in partnership with Costmine, welcoming president and CEO of Kirkland Lake Gold (TSX: KLG), Tony Makuch, as its keynote speaker.
Kirkland Lake is in the midst of one of the Canadian gold sector’s most important mergers in recent memory with Agnico Eagle Mines (TSX: AEM), with Makuch, soon to be CEO of the new Agnico Eagle.
SIGN UP FOR THE PRECIOUS METALS DIGEST
As part of session moderated by Henry Lazenby, multimedia content producer with CMJ’s sister publication, The Northern Miner, Makuch fielded questions from the audience, including those about why Agnico Eagle did not offer a sizeable premium on the Kirkland Lake share price.
“Kirkland Lake Gold has a track record of growing itself as a company,” he said. “In making a premium deal, you have to see new value that can be created. If we insisted on a premium, it’s the same as me saying to shareholders we haven’t created the value we could have for you.”
The mega-merger was announced on Sept. 28 – a deal that will create a high quality, senior producer with 48 million oz. of gold in reserves. The boards of both companies have approved the arrangement, and current Agnico CEO Sean Boyd will become chair of the board.
The deal carries $2 billion worth of savings through synergy. But where will they come from?
According to Makuch, savings can be found by sharing exploration knowledge, technology, processing opportunities, infrastructure, and the support of local communities and regulators both Agnico Eagle and Kirkland Lake have.
If Kirkland Lake embarks on a project that might take it three or four years, such as creating a smart mine, Makuch said they would look to an Agnico mine where it has already been done, and the implementation timeline would be shortened.
“Unlocking technology will play a big part in reducing costs,” Makuch said. “We rely on exploration technology to drive value in our industry. . . If we can find an ounce of gold for $5 or $10, then upgrade the resources for $150 an ounce, you have created value.”
Likewise, technology and R&D will play a big part in unlocking synergy.
The merger is worth an estimated $13.5 billion as Kirkland Lake shareholders will receive 0.7935 of an Agnico Eagle common share for each of their shares.
Kirkland Lake’s strengths are the Macassa and Detour Lake gold mines in Ontario and the Fosterville gold mine in Victoria, Australia. Agnico Eagle has built its strength on the Meadowbank, Canadian Malartic, Goldex, Hope Bay, LaRonde, and Meadowbank gold mines in Canada. The company also has gold mines in Mexico (Pinos Altos and La India), and Finland (Kittila). Both companies have pipeline projects that create a synergy for the future.
Aggressive exploration to continue
“The new Agnico Eagle is always going to be an aggressive explorer, and we have the capital resources to do that,” he added.
Makuch also sees advantages to electrifying underground beyond savings on ventilation, based on experience implementing battery electric equipment at Kirkland Lake’s operations in Ontario.
“Such trucks are already fitted with computers. (That’s) how we can create a smart or autonomous piece of equipment. Then you can connect them all and create a smart mine,” he said.
The merged Agnico-Kirkland Lake will maintain the goal of net-zero carbon emissions by 2050 or before.
“We can get to net zero if we close all our mines,” Makuch said, “but we want to operate our mines.” That means improving processes, going electric, adopting smart technologies, and always seek sustainability.
“The big challenge is people. Innovations and change need trained people and people with new skills,” he said. He wants the new company to get away from underground diesel engines and the exposure of people to diesel exhaust fumes.
He said that to create a sustainable business, part is technology, and part is how people and the environment are treated, how processes are improved, how business support can be more efficient – at the same time keep costs at the low end of the industry.
“Over the next few years, there are going to be exciting times,” Makuch promised.
A load of ideas for the future
Besides keynote speaker Tony Makuch, the morning keynote at CMJ Reimagine Mining Symposium was given by George Hemingway, managing partner and head of innovation practice at Stratalis. He spoke on how to harness trends to get mining’s message to the public.
There were future-focused panels on the pathway to decarbonization in mining; how to get the public to view mining positively sponsored by SRK; as well one on capturing data beyond line of site sponsored by Emesent. Also looking to the future, speaker Brad Terhune of Costmine offered pointers for estimating project costs, and Don Duval of Norcat outlined how mining companies are speeding up their adoption of technology.
CMJ thanks all its sponsors including Sandvik (global), Eaton (silver), Eaton (silver), BBA (bronze) and KalTire (bronze) and corporate presenter Exyn Technologies.
Links to recordings of the symposium will be available on the CMJ website next week, and coverage of the event will be included in our December issue.
Market Analysis » Just 72 Hours from Anarchy – Bill Holter
Just 72 Hours from Anarchy – Bill Holter
By Greg Hunter On October 12, 2021 In Market Analysis 4 Comments
By Greg Hunter’s USAWatchdog.com
https://usawatchdog.com/just-72-hours-from-anarchy-bill-holter/
bigone Note; The Beginning Of The End" | Alasdair MacLeod
1,441 views Premiered 69 minutes ago
Liberty and Finance
61.5K subscribers
tootalljones Note; Market Analysis » Just 72 Hours from Anarchy – Bill Holter
Just 72 Hours from Anarchy – Bill Holter
By Greg Hunter On October 12, 2021 In Market Analysis 4 Comments
By Greg Hunter’s USAWatchdog.com
https://usawatchdog.com/just-72-hours-from-anarchy-bill-holter/
bigone Note; The Beginning Of The End" | Alasdair MacLeod
1,441 views Premiered 69 minutes ago
Liberty and Finance
61.5K subscribers
bigone thanks; Soaring Gold and Silver Premiums, Where Will Prices Land? | Mark Yaxley
58,052 views
Oct 4, 2021
Stansberry Research
375K subscribers
tootalljones thanks; What about a much higher bid for KL soon? 
)
Red October – End of World as We Knew It – Clif High - Greg Hunter
Show - VIDEO
https://usawatchdog.com/red-october-end-of-world-as-we-knew-it-clif-high/
Is 10X possible soon? )
$Jimbo8 thanks; Key Reasons to Invest in Agnico Eagle
1. Long Term Focus on per Share Value Creation
https://www.agnicoeagle.com/English/investor-relations/why-invest/default.aspx
$Agnico Eagle is a senior Canadian gold mining company that has produced
precious metals since 1957. Its mines are located in Canada, Finland
and Mexico, with exploration activities in each of these countries as
well as in the United States and Sweden.
The Company and its shareholders have full exposure to gold prices due
to its long-standing policy of no forward gold sales.
Agnico Eagle has declared a cash dividend every year since 1983.
https://produceredition.webcasts.com/starthere.jsp?ei=1501229&tp_key=0b39fddd59
$Agnico Eagle and Kirkland Lake Gold Merger of Equals Conference Call
September 28, 2021 08:00 AM EST
Speaker(s):
Sean Boyd, Executive Chair
Participant Toll Free Dial-In Number: (888) 664-6392
Participant International Dial-In Number: (416) 764-8659
Replay Dial-in Number: (855) 390-0541
Access code: 180326
Webcast
https://www.agnicoeagle.com/English/investor-relations/news-and-events/events-and-webcasts/event-details/2021/Agnico-Eagle-and-Kirkland-Lake-Gold-Merger-of-Equals-Conference-Call/default.aspx
$Agnico Eagle and Kirkland Lake Gold Announce Merger of Equals To Create
Highest-Quality Senior Gold Producer
(All amounts expressed in U.S. dollars unless otherwise noted)
TORONTO, Sept. 28, 2021 (GLOBE NEWSWIRE) --
$Agnico Eagle Mines Limited (TSX:AEM, NYSE:AEM) (“Agnico Eagle” or the
“Company”) and Kirkland Lake Gold Ltd. (TSX:KL, NYSE:KL, ASX:KLA)
(“Kirkland Lake Gold”) announced today that they have entered into an
agreement (the “Merger Agreement”) to combine in a merger of equals
(the “Merger”), with the combined company to continue under the name
“Agnico Eagle Mines Limited”.
The Merger will establish the new Agnico Eagle as the gold
industry’s highest-quality senior producer, with the lowest unit costs,
highest margins, most favourable risk profile and industry-leading best
practices in key areas of environmental, social and governance (“ESG”).
Upon closing of the Merger, the Company is expected to have $2.3 billion
of available liquidity, a mineral reserve base of 48 million ounces of
gold (969 million tonnes at 1.53 grams per tonne), which has doubled
over the last 10 years, and an extensive pipeline of development and
exploration projects to drive sustainable, low-risk growth.
The Merger will create a best-in-class gold mining company operating in
one of the world’s leading gold regions, the Abitibi-Greenstone Belt
of northeastern Ontario and northwestern Quebec (the “Abitibi”), with
superior financial and operating metrics.
Consolidation within the Abitibi will also provide the new Agnico Eagle
with significant value creation opportunities through synergies and
other business improvement initiatives.
$Tony Makuch, President and CEO of Kirkland Lake Gold, stated, “We are
very pleased and excited to be entering into a combination with
Agnico Eagle.
It is a unique ‘strength-on-strength’ transaction that combines the two
global gold producers with the best track records for increasing per
share value.
The deal creates an industry leader with a dominant position in the
Canadian market that is deserving of a premium valuation and is poised
to generate superior long-term shareholder value going forward.
The transaction represents a true merger of equals, with the business of
both companies to benefit from the significant financial strength of
the merged company, the extensive pipeline of development and
exploration projects to drive future growth, and the potential to
realize significant operational and strategic synergies along the
Abitibi-Kirkland Lake corridor.
It is the right deal for our company and its shareholders, our people,
the communities where we operate, and all of our key stakeholder
groups.”
Strategic Rationale for the Merger
Key strategic, financial and operational advantages of the combined
business include:
Creates the Highest Quality Senior Gold Producer –
The Merger will create the industry’s highest-quality and
lowest-risk senior gold producer.
With expected production of approximately 3.4 million ounces in 2021
at the lowest all-in sustaining costs per ounce amongst the senior gold
producers, the Company remains focused in low-risk jurisdictions and
regions with high geological potential.
Maintains a Proven and Trusted Senior Leadership Team and Board with a
Strong Track Record of Creating Value Per Share –
The combined leadership team will maintain the consistent and proven
strategy of growing both production and profitability per share.
Extends Industry Leadership in ESG and Enhances the Capacity to Make
Longer Term ESG Focused Investments –
The combined entity will be a leader in energy performance and
GHG emissions intensity, with a commitment to be Net Zero by 2050 or
earlier.
Enhances Position in one of the Most Prolific and Prospective Gold
Regions in the World– The Merger solidifies the new Agnico Eagle as
Canada’s leading gold producer, with expected annual production in
the country of approximately 2.5 million ounces in 2021
(on a pro forma basis).
The combined portfolio will be anchored by high-quality gold production
in Ontario, Quebec and Nunavut in Canada, as well as at
Fosterville in Victoria, Australia, Kittila in the Lapland region of
Northern Finland and Pinos Altos and La India in Northern Mexico.
Drives Fundamental Value Creation from Significant Unique Synergies
Estimated at $0.8B over 5 Years and $2B over 10 Years (Pre-Tax) –
The Merger provides a unique opportunity to unlock significant
operational and strategic synergies along
the Abitibi-Kirkland Lake corridor and to leverage sector-leading
technical expertise to surface additional value across the portfolio.
Highlights Track Record of Growing Mineral Reserves and Mineral
Resources –
The Merger combines the only two major gold companies to have grown
mineral reserves and production per share over the last 10 years
through consistent investment in exploration and value-added
acquisitions, with total mineral reserves increasing by 127% from
2011 to 48 million ounces at December 31, 2020 (on a pro forma basis).
Enhances and Adds Flexibility to an Attractive Minesite and Project
Pipeline –
The Merger combines a robust pipeline of growth projects and exploration opportunities.
These projects are located in existing mining camps and will drive
manageable, low-risk, high-return production growth over the next
decade.
Provides the Financial Strength to Increase Capital Distributions to
Shareholders While Investing in Growth Projects –
The Merger significantly enhances the financial flexibility to fund both
the robust pipeline of growth projects and to build on a proven track
record of growing sustainable capital returns to shareholders while
maintaining a strong balance sheet.
In combination, Agnico Eagle and Kirkland Lake Gold have collectively
returned $1.6 billion to shareholders through dividends and share
repurchases since the beginning of 2020 and expects to further increase
returns to shareholders in the future.
Board of Directors’ Recommendations
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166118653
$Agnico Eagle and Kirkland Lake Gold Merger of Equals Conference Call
September 28, 2021 08:00 AM EST
Speaker(s):
Sean Boyd, Executive Chair
Participant Toll Free Dial-In Number: (888) 664-6392
Participant International Dial-In Number: (416) 764-8659
Replay Dial-in Number: (855) 390-0541
Access code: 180326
Webcast
https://www.agnicoeagle.com/English/investor-relations/news-and-events/events-and-webcasts/event-details/2021/Agnico-Eagle-and-Kirkland-Lake-Gold-Merger-of-Equals-Conference-Call/default.aspx
$Agnico Eagle and Kirkland Lake Gold Announce Merger of Equals To Create
Highest-Quality Senior Gold Producer
(All amounts expressed in U.S. dollars unless otherwise noted)
TORONTO, Sept. 28, 2021 (GLOBE NEWSWIRE) --
$Agnico Eagle Mines Limited (TSX:AEM, NYSE:AEM) (“Agnico Eagle” or the
“Company”) and Kirkland Lake Gold Ltd. (TSX:KL, NYSE:KL, ASX:KLA)
(“Kirkland Lake Gold”) announced today that they have entered into an
agreement (the “Merger Agreement”) to combine in a merger of equals
(the “Merger”), with the combined company to continue under the name
“Agnico Eagle Mines Limited”.
The Merger will establish the new Agnico Eagle as the gold
industry’s highest-quality senior producer, with the lowest unit costs,
highest margins, most favourable risk profile and industry-leading best
practices in key areas of environmental, social and governance (“ESG”).
Upon closing of the Merger, the Company is expected to have $2.3 billion
of available liquidity, a mineral reserve base of 48 million ounces of
gold (969 million tonnes at 1.53 grams per tonne), which has doubled
over the last 10 years, and an extensive pipeline of development and
exploration projects to drive sustainable, low-risk growth.
The Merger will create a best-in-class gold mining company operating in
one of the world’s leading gold regions, the Abitibi-Greenstone Belt
of northeastern Ontario and northwestern Quebec (the “Abitibi”), with
superior financial and operating metrics.
Consolidation within the Abitibi will also provide the new Agnico Eagle
with significant value creation opportunities through synergies and
other business improvement initiatives.
Additionally, the Company is established uniquely as the only gold
producer in Nunavut and well positioned internationally with profitable
and prospective assets in Australia, Finland, and Mexico.
https://www.kl.gold/news-and-media/press-release-details/2021/Agnico-Eagle-and-Kirkland-Lake-Gold-Announce-Merger-of-Equals-To-Create-Highest-Quality-Senior-Gold-Producer/default.aspx
The annual end-of-year gold buying season in Asia is off to a solid start,
according to Sharps Pixley’s Lawrie Williams.
Swiss exports to India last month, he says in a report posted yesterday,
were up 250% over August 2020 while exports to China doubled.
Though China’s demand appears somewhat restrained, the surge from very
low pandemic numbers last August reflects something of a return to
normality.
The two countries together, he says, are likely to consume 60% to 70%
of the world’s mine production in 2021.
“Altogether Asian and Middle Eastern nations,” he adds, “received 98.4
tonnes, or 83.5% of Swiss gold exports in August serving to emphasize
the overall demand destinations of gold bullion from Western nations
to Eastern ones where it is mostly held in stronger hands and thus less
prone to being put back into the global gold supply mix.”
Swiss refiners are the chief source of physical gold bullion
going to Asia.
$Kirkland Lake Gold Declares Quarterly Dividend Payment
TORONTO, Sept. 16, 2021 (GLOBE NEWSWIRE) --
$Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL)
(NYSE:KL) (ASX:KLA) today announced that a quarterly dividend payment
for the third quarter of 2021 (“Q3 2021”) of US$0.1875 per common share
will be paid on October 13, 2021 to shareholders of record as of the
close of business on September 29, 2021.
The Q3 2021 payment represents the 18th quarterly dividend payment made
to shareholders following the Company’s adoption of a dividend policy
in March 2017.
The Company’s quarterly dividend qualifies as an “eligible dividend”
for Canadian income tax purposes.
For Canadian shareholders, the US dollar dividend payment will be
converted to Canadian dollars using the spot price exchange rate on
October 13, 2021, the day prior to the payment date.
$About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada
and Australia that is targeting 1,300,000 – 1,400,000 ounces of
production in 2021.
The production profile of the Company is anchored by three high-quality
operations, including the Macassa Mine and Detour Lake Mine, both
located in Northern Ontario, and the Fosterville Mine located in the
state of Victoria, Australia.
Kirkland Lake Gold’s solid base of quality assets is complemented by
district scale exploration potential, supported by a strong financial
position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news
releases by email, visit the website at
http://www.kl.gold.com
FOR FURTHER INFORMATION, PLEASE CONTACT:
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations Phone:
+1 416-840-7884
E-mail: mutting@kl.gold
Website : http://www.kl.gold.com
Fed tightening: It’ll come, and it’ll be a 'crisis', $1,800 gold is 'good
price' - Adrian Day
77,226 views Jul 26, 2021
1.9
Kitco NEWS
https://www.youtube.com/watch?v=O4hoV9779mQ
https://investorshub.advfn.com/boards/manage_msg.asp?message_id=165877493
For further information regarding the Company’s 2020 Mineral Reserves and Mineral Resources estimates for the Fosterville Gold Mine, please refer to the Company’s News Release dated February 25, 2021 and the Technical Report entitled “Updated NI 43-101 Technical Report Fosterville Gold Mine In the State of Victoria, Australia” effective December 31, 2018, both available on the Company’s website and on SEDAR.
Drilling and Underground Sampling Assay QAQC
Kirkland Lake Gold has in place quality-control systems to ensure best practice in drilling, sampling and analysis of drill core. All surface diamond drill hole collars are accurately surveyed using Leica TS16 Total Station Trimble R10 GPS and underground holes using a Leica TS16 Total Station (Table 2). Down-hole deviations are measured by either electronic gyro or single-shot instruments.
Sampling consisted of diamond drill core that was either half core or full core sampled. Half core samples were cut longitudinally in half with a diamond saw; one-half of the drill core was sent to an independent laboratory for analysis and the other drill core half retained for reference. Sample pulps are returned from the assay laboratory for reference and future geological or metallurgical studies. Drill core sample intervals vary between 0.1 and 1.3m in length and were determined from logging of sulfide and VG to geological boundaries.
For assay QAQC purposes Certified Reference Material (CRM) and Blank samples are inserted into the sample stream at rates of approximately 1 in 25.
Samples containing visible-gold or considered likely to contain visible-gold were separated from sulfide gold samples and dispatched separately for assaying. At the laboratory “visible-gold” jobs were processed through a single pulverizer and material barren of gold (‘quartz wash’) was crushed before and after each sample to minimize the potential for gold to contaminate successive samples.
Assays are either based on 25-gram fire assay or screen fire assay with Atomic Absorption Spectroscopy (AAS) finish. Mean grades are calculated using a variable lower grade cut-off (generally 2 g/t Au) and maximum 2 m internal dilution. No upper gold grade cut-off is applied to the data. However, during future Mineral Resource studies the requirement for assay top cutting will be assessed.
The samples were assayed at On Site Laboratory Services, an independent laboratory in Bendigo, Victoria. The facility is registered under ISO 9001:2015 (CERT-40147) and operates in accordance with ISO/IEC17025 (accreditation no. 20456) under National Association of Testing Authorities, Australia (NATA).
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021. The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website www.kl.gold.com
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Announces-New-High-Grade-Visible-Gold-Bearing-Intersections-Down-Plunge-of-Swan-Zone-at-Cygnet-and-at-Robbins-Hill--Fosterville-Mine/default.aspx
LATEST PRESENTATION
https://s23.q4cdn.com/685814098/files/doc_presentations/2021/07/Q2-2021-CONFERENCE-CALL-AND-WEBCAST-July-29-2021-v12.pdf
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.klgold.com
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884
E-mail: mutting@kl.gold
https://www.kl.gold/news-and-media/default.aspx
Primary Logo
Source: Kirkland Lake Gold Ltd
Ps.
Kirkland Lake Gold should buy MMY bargain producer of gold & silver -
$Monument Mining Limited (MMY.VN) -
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! smile)
https://www.barchart.com/stocks/quotes/MMY.VN/opinion
$Way undervalued and oversold - 5 bagger + + + + ? or more -
IMO!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161590519
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
$Tony Makuch, President and CEO of Kirkland Lake Gold, stated, “We are
very pleased and excited to be entering into a combination with
Agnico Eagle.
It is a unique ‘strength-on-strength’ transaction that combines the two
global gold producers with the best track records for increasing per
share value.
The deal creates an industry leader with a dominant position in the
Canadian market that is deserving of a premium valuation and is poised
to generate superior long-term shareholder value going forward.
The transaction represents a true merger of equals, with the business of
both companies to benefit from the significant financial strength of
the merged company, the extensive pipeline of development and
exploration projects to drive future growth, and the potential to
realize significant operational and strategic synergies along the
Abitibi-Kirkland Lake corridor.
It is the right deal for our company and its shareholders, our people,
the communities where we operate, and all of our key stakeholder
groups.”
Strategic Rationale for the Merger
Key strategic, financial and operational advantages of the combined
business include:
Creates the Highest Quality Senior Gold Producer –
The Merger will create the industry’s highest-quality and
lowest-risk senior gold producer.
With expected production of approximately 3.4 million ounces in 2021
at the lowest all-in sustaining costs per ounce amongst the senior gold
producers, the Company remains focused in low-risk jurisdictions and
regions with high geological potential.
Maintains a Proven and Trusted Senior Leadership Team and Board with a
Strong Track Record of Creating Value Per Share –
The combined leadership team will maintain the consistent and proven
strategy of growing both production and profitability per share.
Extends Industry Leadership in ESG and Enhances the Capacity to Make
Longer Term ESG Focused Investments –
The combined entity will be a leader in energy performance and
GHG emissions intensity, with a commitment to be Net Zero by 2050 or
earlier.
Enhances Position in one of the Most Prolific and Prospective Gold
Regions in the World– The Merger solidifies the new Agnico Eagle as
Canada’s leading gold producer, with expected annual production in
the country of approximately 2.5 million ounces in 2021
(on a pro forma basis).
The combined portfolio will be anchored by high-quality gold production
in Ontario, Quebec and Nunavut in Canada, as well as at
Fosterville in Victoria, Australia, Kittila in the Lapland region of
Northern Finland and Pinos Altos and La India in Northern Mexico.
Drives Fundamental Value Creation from Significant Unique Synergies
Estimated at $0.8B over 5 Years and $2B over 10 Years (Pre-Tax) –
The Merger provides a unique opportunity to unlock significant
operational and strategic synergies along
the Abitibi-Kirkland Lake corridor and to leverage sector-leading
technical expertise to surface additional value across the portfolio.
Highlights Track Record of Growing Mineral Reserves and Mineral
Resources –
The Merger combines the only two major gold companies to have grown
mineral reserves and production per share over the last 10 years
through consistent investment in exploration and value-added
acquisitions, with total mineral reserves increasing by 127% from
2011 to 48 million ounces at December 31, 2020 (on a pro forma basis).
Enhances and Adds Flexibility to an Attractive Minesite and Project
Pipeline –
The Merger combines a robust pipeline of growth projects and exploration opportunities.
These projects are located in existing mining camps and will drive
manageable, low-risk, high-return production growth over the next
decade.
Provides the Financial Strength to Increase Capital Distributions to
Shareholders While Investing in Growth Projects –
The Merger significantly enhances the financial flexibility to fund both
the robust pipeline of growth projects and to build on a proven track
record of growing sustainable capital returns to shareholders while
maintaining a strong balance sheet.
In combination, Agnico Eagle and Kirkland Lake Gold have collectively
returned $1.6 billion to shareholders through dividends and share
repurchases since the beginning of 2020 and expects to further increase
returns to shareholders in the future.
Board of Directors’ Recommendations
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166118653
$Agnico Eagle and Kirkland Lake Gold Merger of Equals Conference Call
September 28, 2021 08:00 AM EST
Speaker(s):
Sean Boyd, Executive Chair
Participant Toll Free Dial-In Number: (888) 664-6392
Participant International Dial-In Number: (416) 764-8659
Replay Dial-in Number: (855) 390-0541
Access code: 180326
Webcast
https://www.agnicoeagle.com/English/investor-relations/news-and-events/events-and-webcasts/event-details/2021/Agnico-Eagle-and-Kirkland-Lake-Gold-Merger-of-Equals-Conference-Call/default.aspx
$Agnico Eagle and Kirkland Lake Gold Announce Merger of Equals To Create
Highest-Quality Senior Gold Producer
(All amounts expressed in U.S. dollars unless otherwise noted)
TORONTO, Sept. 28, 2021 (GLOBE NEWSWIRE) --
$Agnico Eagle Mines Limited (TSX:AEM, NYSE:AEM) (“Agnico Eagle” or the
“Company”) and Kirkland Lake Gold Ltd. (TSX:KL, NYSE:KL, ASX:KLA)
(“Kirkland Lake Gold”) announced today that they have entered into an
agreement (the “Merger Agreement”) to combine in a merger of equals
(the “Merger”), with the combined company to continue under the name
“Agnico Eagle Mines Limited”.
The Merger will establish the new Agnico Eagle as the gold
industry’s highest-quality senior producer, with the lowest unit costs,
highest margins, most favourable risk profile and industry-leading best
practices in key areas of environmental, social and governance (“ESG”).
Upon closing of the Merger, the Company is expected to have $2.3 billion
of available liquidity, a mineral reserve base of 48 million ounces of
gold (969 million tonnes at 1.53 grams per tonne), which has doubled
over the last 10 years, and an extensive pipeline of development and
exploration projects to drive sustainable, low-risk growth.
The Merger will create a best-in-class gold mining company operating in
one of the world’s leading gold regions, the Abitibi-Greenstone Belt
of northeastern Ontario and northwestern Quebec (the “Abitibi”), with
superior financial and operating metrics.
Consolidation within the Abitibi will also provide the new Agnico Eagle
with significant value creation opportunities through synergies and
other business improvement initiatives.
Additionally, the Company is established uniquely as the only gold
producer in Nunavut and well positioned internationally with profitable
and prospective assets in Australia, Finland, and Mexico.
https://www.kl.gold/news-and-media/press-release-details/2021/Agnico-Eagle-and-Kirkland-Lake-Gold-Announce-Merger-of-Equals-To-Create-Highest-Quality-Senior-Gold-Producer/default.aspx
The annual end-of-year gold buying season in Asia is off to a solid start,
according to Sharps Pixley’s Lawrie Williams.
Swiss exports to India last month, he says in a report posted yesterday,
were up 250% over August 2020 while exports to China doubled.
Though China’s demand appears somewhat restrained, the surge from very
low pandemic numbers last August reflects something of a return to
normality.
The two countries together, he says, are likely to consume 60% to 70%
of the world’s mine production in 2021.
“Altogether Asian and Middle Eastern nations,” he adds, “received 98.4
tonnes, or 83.5% of Swiss gold exports in August serving to emphasize
the overall demand destinations of gold bullion from Western nations
to Eastern ones where it is mostly held in stronger hands and thus less
prone to being put back into the global gold supply mix.”
Swiss refiners are the chief source of physical gold bullion
going to Asia.
$Kirkland Lake Gold Declares Quarterly Dividend Payment
TORONTO, Sept. 16, 2021 (GLOBE NEWSWIRE) --
$Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL)
(NYSE:KL) (ASX:KLA) today announced that a quarterly dividend payment
for the third quarter of 2021 (“Q3 2021”) of US$0.1875 per common share
will be paid on October 13, 2021 to shareholders of record as of the
close of business on September 29, 2021.
The Q3 2021 payment represents the 18th quarterly dividend payment made
to shareholders following the Company’s adoption of a dividend policy
in March 2017.
The Company’s quarterly dividend qualifies as an “eligible dividend”
for Canadian income tax purposes.
For Canadian shareholders, the US dollar dividend payment will be
converted to Canadian dollars using the spot price exchange rate on
October 13, 2021, the day prior to the payment date.
$About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada
and Australia that is targeting 1,300,000 – 1,400,000 ounces of
production in 2021.
The production profile of the Company is anchored by three high-quality
operations, including the Macassa Mine and Detour Lake Mine, both
located in Northern Ontario, and the Fosterville Mine located in the
state of Victoria, Australia.
Kirkland Lake Gold’s solid base of quality assets is complemented by
district scale exploration potential, supported by a strong financial
position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news
releases by email, visit the website at
http://www.kl.gold.com
FOR FURTHER INFORMATION, PLEASE CONTACT:
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations Phone:
+1 416-840-7884
E-mail: mutting@kl.gold
Website : http://www.kl.gold.com
Fed tightening: It’ll come, and it’ll be a 'crisis', $1,800 gold is 'good
price' - Adrian Day
77,226 views Jul 26, 2021
1.9
Kitco NEWS
$bigone thanks; Agnico Eagle and Kirkland Lake Gold Merger of Equals Conference Call
September 28, 2021 08:00 AM EST
Speaker(s):
Sean Boyd, Executive Chair
Participant Toll Free Dial-In Number: (888) 664-6392
Participant International Dial-In Number: (416) 764-8659
Replay Dial-in Number: (855) 390-0541
Access code: 180326
Webcast
https://www.agnicoeagle.com/English/investor-relations/news-and-events/events-and-webcasts/event-details/2021/Agnico-Eagle-and-Kirkland-Lake-Gold-Merger-of-Equals-Conference-Call/default.aspx
$Agnico Eagle and Kirkland Lake Gold Announce Merger of Equals To Create
Highest-Quality Senior Gold Producer
(All amounts expressed in U.S. dollars unless otherwise noted)
TORONTO, Sept. 28, 2021 (GLOBE NEWSWIRE) --
$Agnico Eagle Mines Limited (TSX:AEM, NYSE:AEM) (“Agnico Eagle” or the
“Company”) and Kirkland Lake Gold Ltd. (TSX:KL, NYSE:KL, ASX:KLA)
(“Kirkland Lake Gold”) announced today that they have entered into an
agreement (the “Merger Agreement”) to combine in a merger of equals
(the “Merger”), with the combined company to continue under the name
“Agnico Eagle Mines Limited”.
The Merger will establish the new Agnico Eagle as the gold
industry’s highest-quality senior producer, with the lowest unit costs,
highest margins, most favourable risk profile and industry-leading best
practices in key areas of environmental, social and governance (“ESG”).
Upon closing of the Merger, the Company is expected to have $2.3 billion
of available liquidity, a mineral reserve base of 48 million ounces of
gold (969 million tonnes at 1.53 grams per tonne), which has doubled
over the last 10 years, and an extensive pipeline of development and
exploration projects to drive sustainable, low-risk growth.
The Merger will create a best-in-class gold mining company operating in
one of the world’s leading gold regions, the Abitibi-Greenstone Belt
of northeastern Ontario and northwestern Quebec (the “Abitibi”), with
superior financial and operating metrics.
Consolidation within the Abitibi will also provide the new Agnico Eagle
with significant value creation opportunities through synergies and
other business improvement initiatives.
Additionally, the Company is established uniquely as the only gold
producer in Nunavut and well positioned internationally with profitable
and prospective assets in Australia, Finland, and Mexico.
https://www.kl.gold/news-and-media/press-release-details/2021/Agnico-Eagle-and-Kirkland-Lake-Gold-Announce-Merger-of-Equals-To-Create-Highest-Quality-Senior-Gold-Producer/default.aspx
The annual end-of-year gold buying season in Asia is off to a solid start,
according to Sharps Pixley’s Lawrie Williams.
Swiss exports to India last month, he says in a report posted yesterday,
were up 250% over August 2020 while exports to China doubled.
Though China’s demand appears somewhat restrained, the surge from very
low pandemic numbers last August reflects something of a return to
normality.
The two countries together, he says, are likely to consume 60% to 70%
of the world’s mine production in 2021.
“Altogether Asian and Middle Eastern nations,” he adds, “received 98.4
tonnes, or 83.5% of Swiss gold exports in August serving to emphasize
the overall demand destinations of gold bullion from Western nations
to Eastern ones where it is mostly held in stronger hands and thus less
prone to being put back into the global gold supply mix.”
Swiss refiners are the chief source of physical gold bullion
going to Asia.
$Kirkland Lake Gold Declares Quarterly Dividend Payment
TORONTO, Sept. 16, 2021 (GLOBE NEWSWIRE) --
$Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL)
(NYSE:KL) (ASX:KLA) today announced that a quarterly dividend payment
for the third quarter of 2021 (“Q3 2021”) of US$0.1875 per common share
will be paid on October 13, 2021 to shareholders of record as of the
close of business on September 29, 2021.
The Q3 2021 payment represents the 18th quarterly dividend payment made
to shareholders following the Company’s adoption of a dividend policy
in March 2017.
The Company’s quarterly dividend qualifies as an “eligible dividend”
for Canadian income tax purposes.
For Canadian shareholders, the US dollar dividend payment will be
converted to Canadian dollars using the spot price exchange rate on
October 13, 2021, the day prior to the payment date.
$About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada
and Australia that is targeting 1,300,000 – 1,400,000 ounces of
production in 2021.
The production profile of the Company is anchored by three high-quality
operations, including the Macassa Mine and Detour Lake Mine, both
located in Northern Ontario, and the Fosterville Mine located in the
state of Victoria, Australia.
Kirkland Lake Gold’s solid base of quality assets is complemented by
district scale exploration potential, supported by a strong financial
position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news
releases by email, visit the website at
http://www.kl.gold.com
FOR FURTHER INFORMATION, PLEASE CONTACT:
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations Phone:
+1 416-840-7884
E-mail: mutting@kl.gold
Website : http://www.kl.gold.com
Fed tightening: It’ll come, and it’ll be a 'crisis', $1,800 gold is 'good
price' - Adrian Day
77,226 views Jul 26, 2021
1.9
Kitco NEWS
$Agnico Eagle and Kirkland Lake Gold Announce Merger of Equals To Create
Highest-Quality Senior Gold Producer
(All amounts expressed in U.S. dollars unless otherwise noted)
TORONTO, Sept. 28, 2021 (GLOBE NEWSWIRE) --
$Agnico Eagle Mines Limited (TSX:AEM, NYSE:AEM) (“Agnico Eagle” or the
“Company”) and Kirkland Lake Gold Ltd. (TSX:KL, NYSE:KL, ASX:KLA)
(“Kirkland Lake Gold”) announced today that they have entered into an
agreement (the “Merger Agreement”) to combine in a merger of equals
(the “Merger”), with the combined company to continue under the name
“Agnico Eagle Mines Limited”.
The Merger will establish the new Agnico Eagle as the gold
industry’s highest-quality senior producer, with the lowest unit costs,
highest margins, most favourable risk profile and industry-leading best
practices in key areas of environmental, social and governance (“ESG”).
Upon closing of the Merger, the Company is expected to have $2.3 billion
of available liquidity, a mineral reserve base of 48 million ounces of
gold (969 million tonnes at 1.53 grams per tonne), which has doubled
over the last 10 years, and an extensive pipeline of development and
exploration projects to drive sustainable, low-risk growth.
The Merger will create a best-in-class gold mining company operating in
one of the world’s leading gold regions, the Abitibi-Greenstone Belt
of northeastern Ontario and northwestern Quebec (the “Abitibi”), with
superior financial and operating metrics.
Consolidation within the Abitibi will also provide the new Agnico Eagle
with significant value creation opportunities through synergies and
other business improvement initiatives.
Additionally, the Company is established uniquely as the only gold
producer in Nunavut and well positioned internationally with profitable
and prospective assets in Australia, Finland, and Mexico.
https://www.kl.gold/news-and-media/press-release-details/2021/Agnico-Eagle-and-Kirkland-Lake-Gold-Announce-Merger-of-Equals-To-Create-Highest-Quality-Senior-Gold-Producer/default.aspx
The annual end-of-year gold buying season in Asia is off to a solid start,
according to Sharps Pixley’s Lawrie Williams.
Swiss exports to India last month, he says in a report posted yesterday,
were up 250% over August 2020 while exports to China doubled.
Though China’s demand appears somewhat restrained, the surge from very
low pandemic numbers last August reflects something of a return to
normality.
The two countries together, he says, are likely to consume 60% to 70%
of the world’s mine production in 2021.
“Altogether Asian and Middle Eastern nations,” he adds, “received 98.4
tonnes, or 83.5% of Swiss gold exports in August serving to emphasize
the overall demand destinations of gold bullion from Western nations
to Eastern ones where it is mostly held in stronger hands and thus less
prone to being put back into the global gold supply mix.”
Swiss refiners are the chief source of physical gold bullion
going to Asia.
$Kirkland Lake Gold Declares Quarterly Dividend Payment
TORONTO, Sept. 16, 2021 (GLOBE NEWSWIRE) --
$Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL)
(NYSE:KL) (ASX:KLA) today announced that a quarterly dividend payment
for the third quarter of 2021 (“Q3 2021”) of US$0.1875 per common share
will be paid on October 13, 2021 to shareholders of record as of the
close of business on September 29, 2021.
The Q3 2021 payment represents the 18th quarterly dividend payment made
to shareholders following the Company’s adoption of a dividend policy
in March 2017.
The Company’s quarterly dividend qualifies as an “eligible dividend”
for Canadian income tax purposes.
For Canadian shareholders, the US dollar dividend payment will be
converted to Canadian dollars using the spot price exchange rate on
October 13, 2021, the day prior to the payment date.
$About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada
and Australia that is targeting 1,300,000 – 1,400,000 ounces of
production in 2021.
The production profile of the Company is anchored by three high-quality
operations, including the Macassa Mine and Detour Lake Mine, both
located in Northern Ontario, and the Fosterville Mine located in the
state of Victoria, Australia.
Kirkland Lake Gold’s solid base of quality assets is complemented by
district scale exploration potential, supported by a strong financial
position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news
releases by email, visit the website at
http://www.kl.gold.com
FOR FURTHER INFORMATION, PLEASE CONTACT:
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations Phone:
+1 416-840-7884
E-mail: mutting@kl.gold
Website : http://www.kl.gold.com
Fed tightening: It’ll come, and it’ll be a 'crisis', $1,800 gold is 'good
price' - Adrian Day
77,226 views Jul 26, 2021
1.9
Kitco NEWS
The annual end-of-year gold buying season in Asia is off to a solid start,
according to Sharps Pixley’s Lawrie Williams.
Swiss exports to India last month, he says in a report posted yesterday,
were up 250% over August 2020 while exports to China doubled.
Though China’s demand appears somewhat restrained, the surge from very
low pandemic numbers last August reflects something of a return to
normality.
The two countries together, he says, are likely to consume 60% to 70%
of the world’s mine production in 2021.
“Altogether Asian and Middle Eastern nations,” he adds, “received 98.4
tonnes, or 83.5% of Swiss gold exports in August serving to emphasize
the overall demand destinations of gold bullion from Western nations
to Eastern ones where it is mostly held in stronger hands and thus less
prone to being put back into the global gold supply mix.”
Swiss refiners are the chief source of physical gold bullion
going to Asia.
$Kirkland Lake Gold Declares Quarterly Dividend Payment
TORONTO, Sept. 16, 2021 (GLOBE NEWSWIRE) --
$Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL)
(NYSE:KL) (ASX:KLA) today announced that a quarterly dividend payment
for the third quarter of 2021 (“Q3 2021”) of US$0.1875 per common share
will be paid on October 13, 2021 to shareholders of record as of the
close of business on September 29, 2021.
The Q3 2021 payment represents the 18th quarterly dividend payment made
to shareholders following the Company’s adoption of a dividend policy
in March 2017.
The Company’s quarterly dividend qualifies as an “eligible dividend”
for Canadian income tax purposes.
For Canadian shareholders, the US dollar dividend payment will be
converted to Canadian dollars using the spot price exchange rate on
October 13, 2021, the day prior to the payment date.
$About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada
and Australia that is targeting 1,300,000 – 1,400,000 ounces of
production in 2021.
The production profile of the Company is anchored by three high-quality
operations, including the Macassa Mine and Detour Lake Mine, both
located in Northern Ontario, and the Fosterville Mine located in the
state of Victoria, Australia.
Kirkland Lake Gold’s solid base of quality assets is complemented by
district scale exploration potential, supported by a strong financial
position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news
releases by email, visit the website at
http://www.kl.gold.com
FOR FURTHER INFORMATION, PLEASE CONTACT:
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations Phone:
+1 416-840-7884
E-mail: mutting@kl.gold
Website : http://www.kl.gold.com
Fed tightening: It’ll come, and it’ll be a 'crisis', $1,800 gold is 'good
price' - Adrian Day
77,226 views Jul 26, 2021
1.9
Kitco NEWS
$KL's Gold is level at $1795/oz in featureless early trading as it
continues to seesaw in a range around the $1800 mark.
Silver is up 3¢ at $24.12.
In a recent Bloomberg interview, David Rubenstein asked
John Paulson, the highly regarded Wall Street fund manager,
if he believed gold was a good investment now.
Paulson began his
answer by reflecting on why inflation did not occur when quantitative
easing was first introduced after the 2008 financial crisis.
“The Fed bought Treasuries, created money,” he said, “which wound up
in the banks and then was redeposited at the Fed.
And the money never really entered the money supply.
So it wasn’t inflationary.
However, this time it has entered the money supply.
… So I think we have inflation coming well in excess of what the
current expectations are.”
Our Chart of the Day offers eye-opening documentation of the money
supply growth Paulson references.
$Richest gold mines in the world in Q1 2021 - report
Vladimir Basov Vladimir Basov
Friday September 03, 2021 15:32
Kitco NewsShare this article:
https://www.kitco.com/news/2021-09-03/Richest-gold-mines-in-the-world-in-Q1-2021-report.html
(Kitco News) - The grade or concentration of a mineral or metal in ore
directly affects costs associated with mining as well as its subsequent
beneficiation and extraction of precious components.
Kitco ranked the top ten currently active gold operations in the world
based on gold grade in a tonne of processed ore reported for Q1 2021.
Kitco looked at operations that are separate reporting units and which
have gold grade figures disclosed by the owners/operators.
$Two Kirkland Lake Gold’s mines tied for the first place in the list of
the richest gold mines globally with identical gold grades reported for
Q1 2021.
At its Fosterville mine in Australia, the company reported that a
gold grade of 19.8 g/t in Q1 2021 was significantly lower than 42.4 g/t
in Q1 2020, which is consistent with the company’s previously stated
plan to reduce production in the Swan Zone by increasing mining
activities in other, lower-grade, areas of the mine, with the intention
of creating a more sustainable operation over a longer period while the
company continues its extensive exploration program.
Another Kirkland Lake Gold’s Macassa mine, located in Ontario, Canada,
reported an identical gold grade of 19.8 g/t in Q1 2021, which was
slightly higher than 19.7 g/t gold grade reported in Q1 2020.
Alamos Gold’ Island Gold mine is a high grade, low-cost underground
mining operation located just east of the town of Dubreuilville,
Ontario, Canada, 83km northeast of Wawa. Underground grades processed
averaged 13.03 g/t Au in the first quarter, an 11% increase over Q1
2020 and above the Mineral Reserve grade.
Gran Colombia Gold’s Segovia operations, an area of approximately 9,000
hectares, is made up of several mines including El Silencio, Sandra K,
Providencia, and Carla, located in the Segovia-Remedios mining district
of Antioquia, Colombia.
In Q1 2021, the company reported 12.83 g/t gold, which is less than
14.9 g/t a year ago.
Wesdome Gold’s Eagle River mine in Canada sits fifth with 12.8 g/t gold
grade reported in Q1 2021, which is below budget and 9% lower compared
to Q1 2020 due to stope sequencing.
The complete list can be found on the chart.
Richest gold mines in the world in Q1 2021.
By Vladimir Basov
For Kitco News
$Kirkland Lake Gold Announces 10.1 Million Ounce Increase in Measured and Indicated Mineral Resources at Detour Lake Mine
https://www.kl.gold/news-and-media/default.aspx
Measured and Indicated ( 1) (2) (“M&I”) Mineral Resources increase 10,061,000 ounces or 216% from December 31, 2020 estimates to 14,718,000 ounces at June 30, 2021 (572.0 million tonnes (“MT”) at average grade of 0.80 grams per tonne (“g/t”))
M&I Mineral Resource estimates include 12,214,000 ounces ( 3 ) (386.5MT at average grade of 0.98 g/t) with additional 2,505,000 ounces (185.5MT at average grade of 0.42 g/t) of low-grade M&I Mineral Resources ( 4 )
Inferred Mineral Resources at June 30, 2021 of 1,115,000 ounces ( 1) (48.3MT at average grade of 0.81 g/t)
Increase in Mineral Resources expected to drive growth in Mineral Reserves from December 31, 2020 estimate of 15,775,000 ounces (596.1MT at average grade of 0.82 g/t) ( 5 ) ( 6 ) ; December 31, 2021 Mineral Reserve and Mineral Resource estimates to be released in first quarter of 2022.
(1) Mineral Resources are reported exclusive of Mineral Reserves.
(2) Mineral Resources include Mineral Resources considered amenable to open-pit mining methods and are bound within a pit shell.
(3) Measured and Indicated Mineral Resources at 0.50 g/t cut-off grade.
(4) M&I Mineral Resources include Mineral Resources at grades below 0.50 g/t with a cut-off grade of 0.35 g/t.
(5) December 31, 2020 Mineral Reserve estimate includes 13,821,000 ounces (447.4MT at average grade of 0.96 g/t) at a 0.50 g/t cut-off grade with an additional 1,954,000 ounces of low-grade Mineral Reserves (148.7MT at average grade of 0.41 g/t) at grades below 0.50 g/t with a cut-off grade of 0.35 g/t.
(6) See technical report entitled “Detour Lake Operation NI 43-101 Technical Report” with an effective date of December 31, 2020 as filed on SEDAR on March 30, 2021 (the “2020 Technical Report”).
TORONTO, Sept. 02, 2021 (GLOBE NEWSWIRE) -
- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced the release of new Mineral Resource estimates for the Detour Lake Mine (“Detour Lake”) as at June 30, 2021 (“Mid-Year 2021”). Included in the Mid-Year 2021 Mineral Resource estimates are total Measured and Indicated (“M&I”) Mineral Resources, exclusive of Mineral Reserves, of 14,718,000 ounces (572.0 million tonnes (“MT”) at an average grade of 0.80 grams per tonne “g/t”)), an increase of 10,061,000 ounces or 216% from the previous estimate of 4,657,000 ounces (131.2MT at an average grade of $1.10 g/t) as at December 31, 2020 (See 2020 Technical Report filed on SEDAR) as well as Inferred Mineral Resources totalling 1,1155,000 ounces (48.3MT at an average grade of 0.81 g/t). The Mid-Year 2021 Mineral Resource estimates were prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, issued by the Canadian Securities Administrators ("NI 43-101"). The new Mineral Resource estimates are being released as a result of a material increase in M&I Mineral Resources that was identified as part of the Company’s mid-year internal Mineral Resource progress update. The Company plans to release a new NI 43-101 Report to support the Mid-Year 2021 Mineral Resources for the Detour Lake Mine, to be filed within the next 45 days.
The Mid-Year 2021 Mineral Resource estimates were calculated based on the results of 365 holes for 185,000 metres of surface diamond drilling completed since the Company acquired Detour Lake on January 31, 2020. The Company is targeting approximately 100,000 metres of additional drilling by the end of 2021.
Of the 14,718,000 ounces of M&I Mineral Resources included in the Mid-Year 2021 estimates, the majority are located within the Saddle Zone, an area between the existing Main Pit and planned West Pit locations, which had previously been underexplored and had no Mineral Reserves and only limited Mineral Resources. M&I Mineral Resources within the Saddle Zone are allocated to the Main and West pits based on their proximity to the two pit locations. As outlined in the tables below, M&I Mineral Resources within the Main Pit are estimated at 7,103,000 ounces based on 205.6MT at an average grade of 1.07 g/t (0.50 g/t cut-off grade), with an additional 973,000 ounces based on 71.9MT at an average grade of 0.42 g/t of low-grade M&I Mineral Resources (0.35 g/t cut-off grade). The West Pit M&I Mineral Resource estimates include 5,096,000 ounces based on 180.4MT at an average grade of 0.88 g/t (0.50 g/t cut-off grade), with low-grade M&I Mineral Resources totalling 1,530,000 ounces based on 113.5MT at an average grade of 0.42 g/t (0.35 cut-off grade).
Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “When we acquired Detour Lake, we saw many opportunities to optimize the operation and generate value, including increasing production to 800,000 ounces per year, improving all-in sustaining costs (“AISC”) to $800 – $900 per ounce and significantly growing Mineral Resources and Mineral Reserves through an extensive exploration program. As outlined in the technical report and life-of-Mine Plan (“2021 LOMP”) filed in March 2021, we now expect Detour Lake to reach 800,000 ounces of production in 2025, and to ultimately grow to over 900,000 ounces per year, with average AISC targeted at $775 per ounce over the next five years. With today’s results, we have now clearly demonstrated both the tremendous exploration potential at Detour Lake as well as the considerable success being achieved through our drilling programs. Based on drilling to date, we have more than tripled M&I Mineral Resources, with more to come as we work to complete another 100,000 metres of drilling by the end of 2021. Our new M&I Mineral Resource estimates include significant growth in Mineral Resources established using a 0.5 g/t cut-off grade, as well as low-grade Mineral Resources, which under previous plans would have been mined as waste, whereas in the new estimate these will be stockpiled and processed in later years. Everything we see tells us that we are on track for solid growth in Mineral Reserves as part of our December 31, 2021 Mineral Reserve and Mineral Resource statement.
“In addition to the excellent progress being achieved with our exploration program and the completion of our first updated Mineral Resource model since acquiring Detour Lake, we are also advancing efforts to optimize the 2021 LOMP. Based on ongoing work, we are targeting further operational improvements that, in aggregate, are expected to deliver between $750 million and $1.0 billion of value enhancement benefits over the next two to five years. These include a variety of initiatives that should improve mill availability and throughput, metallurgical recovery, grade control, automation, innovation and site optimization.”
DETOUR LAKE MEASURED & INDICATED MINERAL RESOURCES (EFFECTIVE JUNE 30, 2021) ( 1) (2)
https://www.kl.gold/news-and-media/default.aspx
$Kirkland Lake Gold Announces New High-Grade, Visible-Gold Bearing
Intersections Down-Plunge of Swan Zone, at Cygnet and at Robbin’s Hill
– Fosterville Mine
August 30, 2021
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Announces-New-High-Grade-Visible-Gold-Bearing-Intersections-Down-Plunge-of-Swan-Zone-at-Cygnet-and-at-Robbins-Hill--Fosterville-Mine/default.aspx
Drilling from recently completed P3912 drill drive intersects high-grade, visible-gold (“VG”) mineralization down-plunge of Swan Zone, 500 metres (“m”) from deepest Mineral Reserves
Key intercepts: 51.7 g/t over 2.6 m (ETW 2.2 m) and 9.6 g/t over 6.4 m (ETW 4.9 m)
New high-grade, VG-bearing intercepts reported along Cygnet Fault system ~150 m footwall to Swan Zone; results support potential for growth in Mineral Reserves and include identification of multiple new splay structures and opportunities for further extension of the fault system to the north
Key intercepts: 258 g/t over 1.8 m (ETW 1.4 m), 142 g/t over 2.0 (ETW 1.5 m), 49.4 g/t over 4.1 m (ETW 3.4 m), 27.5 g/t over 6.0 m (ETW 4.3 m) and 67.1 g/t over 0.3 m (ETW 0.3 m)
New VG-bearing mineralization intersected up to 1,000 m down-plunge of existing Mineral Reserves along Curie Fault at Robbin’s Hill
Key intercepts: 81.3 g/t over 2.6 m (ETW 2.5 m) and 23.1 g/t over 2.2 m (ETW 1.4 m).
Abbreviations include: VG – Visible Gold; g/t – grams per tonne gold; ETW – estimated true width.
TORONTO, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced results from 197 underground and 58 surface holes of drilling as an update of exploration drilling carried out at Fosterville Gold Mine since the December 31, 2020 Mineral Resources and Reserve update released in February 2021. The release includes diamond drilling results from five key areas across the Fosterville property, including underground targets at Lower Phoenix, the Cygnet Fault System, with associated hangingwall splay structures, and the Curie and Herschel Fault structures at Robbins Hill (Figure 1). Of the 197 underground diamond drill holes, 109 tested the Lower Phoenix structure, with the remaining 88 holes related to drilling of the Cygnet Fault System and associated hangingwall structures. At Robbin’s Hill, 58 new surface diamond drill holes targeted the Curie and Herschel Fault structures. All drilling results and collar information are presented in Tables 1 and 2.
Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “The results being released today continue to support our view that substantial potential exists to discover new high-grade mineralized areas and extensions and to grow Mineral Reserves at Fosterville. Following completion of the new P3912 underground drill drift, we commenced an extensive underground drilling program down-plunge of the Swan Zone in Lower Phoenix and have already returned a number of high-grade intersections containing the same quartz with VG mineralization that accounts for the ultra-high grades found in Swan. While the down-plunge extension of Swan Zone is obviously a key target for future growth in Mineral Reserves and Mineral Resources, we are also very encouraged by continued favorable results at Cygnet, a parallel structure near the Swan Zone. The results at Cygnet include new high-grade, VG-bearing intersections as well as the identification of new splay structures and opportunities for further growth of the Cygnet Fault System to the north.
“Turning to Robbin’s Hill, drill results continue to confirm the size and scale of the target areas at what we expect to become our second mining operation feeding the Fosterville Mill. Along the Curie Fault, we have now intersected VG mineralization up to 1,000 m down-plunge from current Mineral Reserves and at elevations from surface similar to where we first detected VG in the Lower Phoenix and Harrier systems. With the progress achieved advancing the new Robbin’s Hill Decline, we have now commenced underground drilling at Robbin’s Hill to support future exploration of the Curie, Herschel and other Fault targets. Underground drilling from the new Decline will significantly improve the efficiency and effectiveness of the Robbin’s Hill exploration programs. We currently have nine underground and eight surface diamond drills operating at Fosterville, with a total of 210,000 metres of drilling expected to be completed during 2021.”
Lower Phoenix Infill and Extension Program
During 2021, underground diamond drilling targeting areas down-plunge of the Swan Mineral Reserves has returned encouraging results, demonstrating continuity of mineralization within, and extensions of Inferred Mineral Resources, in the Lower Phoenix System (Figure 2).
Drilling was undertaken from several underground drill platforms, including the Harrier link drive, P4040 drive, and the new P3912 drive following its completion in early June. A total of 109 Lower Phoenix diamond holes (31,106 m) has progressively tested the Swan/Lower Phoenix over 550m down-plunge length from the Swan Mineral Reserve. Significant recent results include two that are at the southern extremities of the Lower Phoenix Inferred Mineral Resources approximately 500 m down-plunge of current Mineral Reserves. Drill testing down-plunge of these intercepts is planned to assess the continuity and extents of these VG occurrences.
Recent significant intercepts from drilling in Lower Phoenix include:
51.7 g/t(1) over 2.6 m (ETW 2.2 m), Including 215 g/t1) over 0.6 m (ETW 0.5 m) in hole UDH4051
9.6 g/t(1) over 6.4 m (ETW 4.9 m), Including 78.8 g/t(1) over 0.5 m (ETW 0.4 m) in hole UDH4048
10.8 g/t(1) over 4.8 m (ETW 3.7 m), Including 31.2 g/t(1) over 1.1 m (ETW 0.8 m) in hole UDH3954
10.0 g/t over 17.6 m (ETW 10.4 m) in hole UDH3980
(1) Visible-gold drill intercept
New drilling outside of the existing Indicated Mineral Resources reaffirmed the continuity of the largely sulfide-hosted mineralization with 30 intercepts greater than 15 gram-metre (gram-metre = gold grade x estimated true width), of which 11 are greater than 30 gram-metre, and two are greater than 100 gram-metre. One of the 100 gram-metre intercepts includes the presence of VG (UDH4051 as detailed above), while the other is a sulfide-gold hosted intercept (UDH3980).
Infill and extension drilling of the Lower Phoenix area is continuing from the Phoenix 3912 Drill Drive.
Cygnet and Hangingwall Splay Program
Continued infill and extension drilling of 88 underground diamond drill holes (15,545m) into the Cygnet Mineral Resource and adjacent area has identified several new hangingwall structures. With recent geological interpretation the broader structure has been resolved into several faults, now called Cygnet, Cygnet Hangingwall, Dove, Pen, and Ptarmigan Faults (Figure 3). Of significance, the Pen and Ptarmigan Faults have similar strike trends, approximately 325° Mine Grid, as the northern parts of the Swan Fault, and have returned significant VG in quartz intercepts (Figure 4).
Ongoing drilling in the area and to the north will test for additional hangingwall splay faults.
Key Intercepts include:
Pen Fault Splay
49.4 g/t(1) over 4.1 m (ETW 3.4 m), including 589 g/t(1) over 0.3 m (ETW 0.2 m) in hole UDH3851
153 g/t(1) over 0.5 m (ETW 0.5 m) in hole UDH4065
Ptarmigan Fault Splay
258 g/t(1) over 1.8 m (ETW 1.4 m), including 4,460 g/t(1) over 0.1 m (ETW 0.1 m) in hole UDH4018
142 g/t(1) over 2.0 m (ETW 1.5 m) including 1,590 g/t(1) over 0.2 m (ETW 0.1 m) in hole UDH3924
Infill drilling of the Cygnet Mineral Resource and Reserve area has encountered eight holes with VG in quartz mineralization, of which four have the potential to expand the adjacent Mineral Reserves (Figure 5). The other three intercepts have the potential to increase the Mineral Resources.
Key Cygnet intercepts include:
24.1 g/t(1) over 7.3 m (ETW 5.6 m), including 328 g/t(1) over 0.4 m (ETW 0.3 m) in hole UDH3751
18.7 g/t(1) over 2.6 m (ETW 2.5 m) in hole UDH3752
27.5 g/t(1) over 6.0 m (ETW 4.3 m), including 166 g/t(1) over 0.4 m (ETW 0.3 m) in hole UDH3753
Robbin’s Hill Drilling Programs
Since late 2020, up to five surface diamond drills have operated in the Robbin’s Hill area, primarily targeting gold mineralization along the west-dipping Curie Fault, one of the controlling structures for mineralization at Robbins’s Hill. The program of extension drilling comprised 58 surface diamond drill holes (58,125 m) testing the Curie Fault and adjacent structures. The drilling, down-plunge of the current Curie Mineral Reserve, has continued to encounter strong mineralization and VG at elevations similar to those where VG was first noted in the Lower Phoenix and Harrier Gold Systems.
VG drill intercepts were previously reported for the Curie structure at depths of approximately 500 m in the Company’s news release dated December 10, 2019, with intercepts of 11.7 g/t(1) over 8.8 m (ETW 7.2 m) in hole RDH321, and 24.5 g/t(1) over 3.7 m (ETW 3.4 m) in hole RHD334A. The new drilling has intersected VG at greater depths, with occurrences recorded between 950 to 1,150 metres below surface on the Curie structure in four holes (RDH413, RDH439C, RDH441 and RDH441A) and are detailed below. These intercepts, as well as other sulfide-hosted gold results, increase the down-plunge extent of Curie mineralization to greater than 1,000 metres from current Mineral Reserves (Figure 6).
Key Curie intercepts include:
23.1 g/t(1) over 2.2 m (ETW 1.4 m), including 103 g/t(1) over 0.4 m (ETW 0.2 m) in hole RHD413
81.3 g/t(1) over 2.6 m (ETW 2.5 m), including 982 g/t(1) over 0.2 m (ETW 0.2 m) in hole RHD439C
28.0 g/t(1) over 1.5 m (ETW 1.1 m), including 103 g/t(1) over 0.2 m (ETW 0.2 m) in hole RHD441
19.7 g/t(1) over 3.8 m (ETW 3.4 m), including 158 g/t(1) over 0.4 m (ETW 0.4 m) in hole RHD441A
6.8 g/t over 7.7 m (ETW 5.7 m) in hole RHD440A
9.0 g/t over 2.9 m (ETW 2.7 m) in hole RHD409A
(1) Visible-gold drill intercept
Three surface drills continue to operate at Robbin’s Hill and are focused on the down-plunge extension of the Curie Mineral Resource, and testing of other targets. Two underground diamond drills, located at approximately 10,500mN, have commenced operating from the new Robbin’s Hill Exploration Decline. These drills are also targeting down-plunge extensions of the Curie mineralization.
The Herschel Fault, located hangingwall to the Curie Fault, was drill tested as part of the drilling that targeted Curie Fault mineralization at depth. Drill intercepts for the Herschel structure are mostly less than 500 m below surface. Currently, the most significant intercept contains VG in quartz and is 160 g/t over 4.4 m (ETW 3.8 m), including 1,160 g/t Au over 0.6 m (ETW 0.5 m), in hole RHD412.
Additional drilling into the Herschel Fault will be undertaken once the Robbin’s Hill Decline has progressed further to the north (approximately 12,000mN).
Robbin’s Hill Underground Decline Development
Underground development of the Robbin’s Hill Exploration Decline commenced in January 2020 and has progressed well, advancing a total of 5,932 m as of July 30, 2021. The mid-2020 arrival of a smart jumbo has provided increased development capacity since commencement. The development, since the Q1-2021 has been used an underground drill platform for exploration diamond drilling activities as the ramp progressed northwards.
Qualified Persons
Troy Fuller, MAIG, Director of Exploration, Australia, is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.
For further information regarding the Company’s 2020 Mineral Reserves and Mineral Resources estimates for the Fosterville Gold Mine, please refer to the Company’s News Release dated February 25, 2021 and the Technical Report entitled “Updated NI 43-101 Technical Report Fosterville Gold Mine In the State of Victoria, Australia” effective December 31, 2018, both available on the Company’s website and on SEDAR.
Drilling and Underground Sampling Assay QAQC
Kirkland Lake Gold has in place quality-control systems to ensure best practice in drilling, sampling and analysis of drill core. All surface diamond drill hole collars are accurately surveyed using Leica TS16 Total Station Trimble R10 GPS and underground holes using a Leica TS16 Total Station (Table 2). Down-hole deviations are measured by either electronic gyro or single-shot instruments.
Sampling consisted of diamond drill core that was either half core or full core sampled. Half core samples were cut longitudinally in half with a diamond saw; one-half of the drill core was sent to an independent laboratory for analysis and the other drill core half retained for reference. Sample pulps are returned from the assay laboratory for reference and future geological or metallurgical studies. Drill core sample intervals vary between 0.1 and 1.3m in length and were determined from logging of sulfide and VG to geological boundaries.
For assay QAQC purposes Certified Reference Material (CRM) and Blank samples are inserted into the sample stream at rates of approximately 1 in 25.
Samples containing visible-gold or considered likely to contain visible-gold were separated from sulfide gold samples and dispatched separately for assaying. At the laboratory “visible-gold” jobs were processed through a single pulverizer and material barren of gold (‘quartz wash’) was crushed before and after each sample to minimize the potential for gold to contaminate successive samples.
Assays are either based on 25-gram fire assay or screen fire assay with Atomic Absorption Spectroscopy (AAS) finish. Mean grades are calculated using a variable lower grade cut-off (generally 2 g/t Au) and maximum 2 m internal dilution. No upper gold grade cut-off is applied to the data. However, during future Mineral Resource studies the requirement for assay top cutting will be assessed.
The samples were assayed at On Site Laboratory Services, an independent laboratory in Bendigo, Victoria. The facility is registered under ISO 9001:2015 (CERT-40147) and operates in accordance with ISO/IEC17025 (accreditation no. 20456) under National Association of Testing Authorities, Australia (NATA).
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021. The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website www.kl.gold.com
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Announces-New-High-Grade-Visible-Gold-Bearing-Intersections-Down-Plunge-of-Swan-Zone-at-Cygnet-and-at-Robbins-Hill--Fosterville-Mine/default.aspx
LATEST PRESENTATION
https://s23.q4cdn.com/685814098/files/doc_presentations/2021/07/Q2-2021-CONFERENCE-CALL-AND-WEBCAST-July-29-2021-v12.pdf
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.klgold.com
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884
E-mail: mutting@kl.gold
https://www.kl.gold/news-and-media/default.aspx
Primary Logo
Source: Kirkland Lake Gold Ltd
Ps.
Kirkland Lake Gold should buy MMY bargain producer of gold & silver -
$Monument Mining Limited (MMY.VN) -
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! smile)
https://www.barchart.com/stocks/quotes/MMY.VN/opinion
$Way undervalued and oversold - 5 bagger + + + + ? or more -
IMO!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161590519
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
$Richest gold mines in the world in Q1 2021 - report
Vladimir Basov Vladimir Basov
Friday September 03, 2021 15:32
Kitco NewsShare this article:
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https://www.kitco.com/news/2021-09-03/Richest-gold-mines-in-the-world-in-Q1-2021-report.html
(Kitco News) - The grade or concentration of a mineral or metal in ore
directly affects costs associated with mining as well as its subsequent
beneficiation and extraction of precious components.
Kitco ranked the top ten currently active gold operations in the world
based on gold grade in a tonne of processed ore reported for Q1 2021.
Kitco looked at operations that are separate reporting units and which
have gold grade figures disclosed by the owners/operators.
$Two Kirkland Lake Gold’s mines tied for the first place in the list of
the richest gold mines globally with identical gold grades reported for
Q1 2021.
At its Fosterville mine in Australia, the company reported that a
gold grade of 19.8 g/t in Q1 2021 was significantly lower than 42.4 g/t
in Q1 2020, which is consistent with the company’s previously stated
plan to reduce production in the Swan Zone by increasing mining
activities in other, lower-grade, areas of the mine, with the intention
of creating a more sustainable operation over a longer period while the
company continues its extensive exploration program.
Another Kirkland Lake Gold’s Macassa mine, located in Ontario, Canada,
reported an identical gold grade of 19.8 g/t in Q1 2021, which was
slightly higher than 19.7 g/t gold grade reported in Q1 2020.
Alamos Gold’ Island Gold mine is a high grade, low-cost underground
mining operation located just east of the town of Dubreuilville,
Ontario, Canada, 83km northeast of Wawa. Underground grades processed
averaged 13.03 g/t Au in the first quarter, an 11% increase over Q1
2020 and above the Mineral Reserve grade.
Gran Colombia Gold’s Segovia operations, an area of approximately 9,000
hectares, is made up of several mines including El Silencio, Sandra K,
Providencia, and Carla, located in the Segovia-Remedios mining district
of Antioquia, Colombia.
In Q1 2021, the company reported 12.83 g/t gold, which is less than
14.9 g/t a year ago.
Wesdome Gold’s Eagle River mine in Canada sits fifth with 12.8 g/t gold
grade reported in Q1 2021, which is below budget and 9% lower compared
to Q1 2020 due to stope sequencing.
The complete list can be found on the chart.
Richest gold mines in the world in Q1 2021.
By Vladimir Basov
For Kitco News
$Kirkland Lake Gold Announces 10.1 Million Ounce Increase in Measured and Indicated Mineral Resources at Detour Lake Mine
https://www.kl.gold/news-and-media/default.aspx
Measured and Indicated ( 1) (2) (“M&I”) Mineral Resources increase 10,061,000 ounces or 216% from December 31, 2020 estimates to 14,718,000 ounces at June 30, 2021 (572.0 million tonnes (“MT”) at average grade of 0.80 grams per tonne (“g/t”))
M&I Mineral Resource estimates include 12,214,000 ounces ( 3 ) (386.5MT at average grade of 0.98 g/t) with additional 2,505,000 ounces (185.5MT at average grade of 0.42 g/t) of low-grade M&I Mineral Resources ( 4 )
Inferred Mineral Resources at June 30, 2021 of 1,115,000 ounces ( 1) (48.3MT at average grade of 0.81 g/t)
Increase in Mineral Resources expected to drive growth in Mineral Reserves from December 31, 2020 estimate of 15,775,000 ounces (596.1MT at average grade of 0.82 g/t) ( 5 ) ( 6 ) ; December 31, 2021 Mineral Reserve and Mineral Resource estimates to be released in first quarter of 2022.
(1) Mineral Resources are reported exclusive of Mineral Reserves.
(2) Mineral Resources include Mineral Resources considered amenable to open-pit mining methods and are bound within a pit shell.
(3) Measured and Indicated Mineral Resources at 0.50 g/t cut-off grade.
(4) M&I Mineral Resources include Mineral Resources at grades below 0.50 g/t with a cut-off grade of 0.35 g/t.
(5) December 31, 2020 Mineral Reserve estimate includes 13,821,000 ounces (447.4MT at average grade of 0.96 g/t) at a 0.50 g/t cut-off grade with an additional 1,954,000 ounces of low-grade Mineral Reserves (148.7MT at average grade of 0.41 g/t) at grades below 0.50 g/t with a cut-off grade of 0.35 g/t.
(6) See technical report entitled “Detour Lake Operation NI 43-101 Technical Report” with an effective date of December 31, 2020 as filed on SEDAR on March 30, 2021 (the “2020 Technical Report”).
TORONTO, Sept. 02, 2021 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced the release of new Mineral Resource estimates for the Detour Lake Mine (“Detour Lake”) as at June 30, 2021 (“Mid-Year 2021”). Included in the Mid-Year 2021 Mineral Resource estimates are total Measured and Indicated (“M&I”) Mineral Resources, exclusive of Mineral Reserves, of 14,718,000 ounces (572.0 million tonnes (“MT”) at an average grade of 0.80 grams per tonne “g/t”)), an increase of 10,061,000 ounces or 216% from the previous estimate of 4,657,000 ounces (131.2MT at an average grade of $1.10 g/t) as at December 31, 2020 (See 2020 Technical Report filed on SEDAR) as well as Inferred Mineral Resources totalling 1,1155,000 ounces (48.3MT at an average grade of 0.81 g/t). The Mid-Year 2021 Mineral Resource estimates were prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, issued by the Canadian Securities Administrators ("NI 43-101"). The new Mineral Resource estimates are being released as a result of a material increase in M&I Mineral Resources that was identified as part of the Company’s mid-year internal Mineral Resource progress update. The Company plans to release a new NI 43-101 Report to support the Mid-Year 2021 Mineral Resources for the Detour Lake Mine, to be filed within the next 45 days.
The Mid-Year 2021 Mineral Resource estimates were calculated based on the results of 365 holes for 185,000 metres of surface diamond drilling completed since the Company acquired Detour Lake on January 31, 2020. The Company is targeting approximately 100,000 metres of additional drilling by the end of 2021.
Of the 14,718,000 ounces of M&I Mineral Resources included in the Mid-Year 2021 estimates, the majority are located within the Saddle Zone, an area between the existing Main Pit and planned West Pit locations, which had previously been underexplored and had no Mineral Reserves and only limited Mineral Resources. M&I Mineral Resources within the Saddle Zone are allocated to the Main and West pits based on their proximity to the two pit locations. As outlined in the tables below, M&I Mineral Resources within the Main Pit are estimated at 7,103,000 ounces based on 205.6MT at an average grade of 1.07 g/t (0.50 g/t cut-off grade), with an additional 973,000 ounces based on 71.9MT at an average grade of 0.42 g/t of low-grade M&I Mineral Resources (0.35 g/t cut-off grade). The West Pit M&I Mineral Resource estimates include 5,096,000 ounces based on 180.4MT at an average grade of 0.88 g/t (0.50 g/t cut-off grade), with low-grade M&I Mineral Resources totalling 1,530,000 ounces based on 113.5MT at an average grade of 0.42 g/t (0.35 cut-off grade).
Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “When we acquired Detour Lake, we saw many opportunities to optimize the operation and generate value, including increasing production to 800,000 ounces per year, improving all-in sustaining costs (“AISC”) to $800 – $900 per ounce and significantly growing Mineral Resources and Mineral Reserves through an extensive exploration program. As outlined in the technical report and life-of-Mine Plan (“2021 LOMP”) filed in March 2021, we now expect Detour Lake to reach 800,000 ounces of production in 2025, and to ultimately grow to over 900,000 ounces per year, with average AISC targeted at $775 per ounce over the next five years. With today’s results, we have now clearly demonstrated both the tremendous exploration potential at Detour Lake as well as the considerable success being achieved through our drilling programs. Based on drilling to date, we have more than tripled M&I Mineral Resources, with more to come as we work to complete another 100,000 metres of drilling by the end of 2021. Our new M&I Mineral Resource estimates include significant growth in Mineral Resources established using a 0.5 g/t cut-off grade, as well as low-grade Mineral Resources, which under previous plans would have been mined as waste, whereas in the new estimate these will be stockpiled and processed in later years. Everything we see tells us that we are on track for solid growth in Mineral Reserves as part of our December 31, 2021 Mineral Reserve and Mineral Resource statement.
“In addition to the excellent progress being achieved with our exploration program and the completion of our first updated Mineral Resource model since acquiring Detour Lake, we are also advancing efforts to optimize the 2021 LOMP. Based on ongoing work, we are targeting further operational improvements that, in aggregate, are expected to deliver between $750 million and $1.0 billion of value enhancement benefits over the next two to five years. These include a variety of initiatives that should improve mill availability and throughput, metallurgical recovery, grade control, automation, innovation and site optimization.”
DETOUR LAKE MEASURED & INDICATED MINERAL RESOURCES (EFFECTIVE JUNE 30, 2021) ( 1) (2)
https://www.kl.gold/news-and-media/default.aspx
$Kirkland Lake Gold Announces New High-Grade, Visible-Gold Bearing
Intersections Down-Plunge of Swan Zone, at Cygnet and at Robbin’s Hill
– Fosterville Mine
August 30, 2021
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Announces-New-High-Grade-Visible-Gold-Bearing-Intersections-Down-Plunge-of-Swan-Zone-at-Cygnet-and-at-Robbins-Hill--Fosterville-Mine/default.aspx
Drilling from recently completed P3912 drill drive intersects high-grade, visible-gold (“VG”) mineralization down-plunge of Swan Zone, 500 metres (“m”) from deepest Mineral Reserves
Key intercepts: 51.7 g/t over 2.6 m (ETW 2.2 m) and 9.6 g/t over 6.4 m (ETW 4.9 m)
New high-grade, VG-bearing intercepts reported along Cygnet Fault system ~150 m footwall to Swan Zone; results support potential for growth in Mineral Reserves and include identification of multiple new splay structures and opportunities for further extension of the fault system to the north
Key intercepts: 258 g/t over 1.8 m (ETW 1.4 m), 142 g/t over 2.0 (ETW 1.5 m), 49.4 g/t over 4.1 m (ETW 3.4 m), 27.5 g/t over 6.0 m (ETW 4.3 m) and 67.1 g/t over 0.3 m (ETW 0.3 m)
New VG-bearing mineralization intersected up to 1,000 m down-plunge of existing Mineral Reserves along Curie Fault at Robbin’s Hill
Key intercepts: 81.3 g/t over 2.6 m (ETW 2.5 m) and 23.1 g/t over 2.2 m (ETW 1.4 m).
Abbreviations include: VG – Visible Gold; g/t – grams per tonne gold; ETW – estimated true width.
TORONTO, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced results from 197 underground and 58 surface holes of drilling as an update of exploration drilling carried out at Fosterville Gold Mine since the December 31, 2020 Mineral Resources and Reserve update released in February 2021. The release includes diamond drilling results from five key areas across the Fosterville property, including underground targets at Lower Phoenix, the Cygnet Fault System, with associated hangingwall splay structures, and the Curie and Herschel Fault structures at Robbins Hill (Figure 1). Of the 197 underground diamond drill holes, 109 tested the Lower Phoenix structure, with the remaining 88 holes related to drilling of the Cygnet Fault System and associated hangingwall structures. At Robbin’s Hill, 58 new surface diamond drill holes targeted the Curie and Herschel Fault structures. All drilling results and collar information are presented in Tables 1 and 2.
Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “The results being released today continue to support our view that substantial potential exists to discover new high-grade mineralized areas and extensions and to grow Mineral Reserves at Fosterville. Following completion of the new P3912 underground drill drift, we commenced an extensive underground drilling program down-plunge of the Swan Zone in Lower Phoenix and have already returned a number of high-grade intersections containing the same quartz with VG mineralization that accounts for the ultra-high grades found in Swan. While the down-plunge extension of Swan Zone is obviously a key target for future growth in Mineral Reserves and Mineral Resources, we are also very encouraged by continued favorable results at Cygnet, a parallel structure near the Swan Zone. The results at Cygnet include new high-grade, VG-bearing intersections as well as the identification of new splay structures and opportunities for further growth of the Cygnet Fault System to the north.
“Turning to Robbin’s Hill, drill results continue to confirm the size and scale of the target areas at what we expect to become our second mining operation feeding the Fosterville Mill. Along the Curie Fault, we have now intersected VG mineralization up to 1,000 m down-plunge from current Mineral Reserves and at elevations from surface similar to where we first detected VG in the Lower Phoenix and Harrier systems. With the progress achieved advancing the new Robbin’s Hill Decline, we have now commenced underground drilling at Robbin’s Hill to support future exploration of the Curie, Herschel and other Fault targets. Underground drilling from the new Decline will significantly improve the efficiency and effectiveness of the Robbin’s Hill exploration programs. We currently have nine underground and eight surface diamond drills operating at Fosterville, with a total of 210,000 metres of drilling expected to be completed during 2021.”
Lower Phoenix Infill and Extension Program
During 2021, underground diamond drilling targeting areas down-plunge of the Swan Mineral Reserves has returned encouraging results, demonstrating continuity of mineralization within, and extensions of Inferred Mineral Resources, in the Lower Phoenix System (Figure 2).
Drilling was undertaken from several underground drill platforms, including the Harrier link drive, P4040 drive, and the new P3912 drive following its completion in early June. A total of 109 Lower Phoenix diamond holes (31,106 m) has progressively tested the Swan/Lower Phoenix over 550m down-plunge length from the Swan Mineral Reserve. Significant recent results include two that are at the southern extremities of the Lower Phoenix Inferred Mineral Resources approximately 500 m down-plunge of current Mineral Reserves. Drill testing down-plunge of these intercepts is planned to assess the continuity and extents of these VG occurrences.
Recent significant intercepts from drilling in Lower Phoenix include:
51.7 g/t(1) over 2.6 m (ETW 2.2 m), Including 215 g/t1) over 0.6 m (ETW 0.5 m) in hole UDH4051
9.6 g/t(1) over 6.4 m (ETW 4.9 m), Including 78.8 g/t(1) over 0.5 m (ETW 0.4 m) in hole UDH4048
10.8 g/t(1) over 4.8 m (ETW 3.7 m), Including 31.2 g/t(1) over 1.1 m (ETW 0.8 m) in hole UDH3954
10.0 g/t over 17.6 m (ETW 10.4 m) in hole UDH3980
(1) Visible-gold drill intercept
New drilling outside of the existing Indicated Mineral Resources reaffirmed the continuity of the largely sulfide-hosted mineralization with 30 intercepts greater than 15 gram-metre (gram-metre = gold grade x estimated true width), of which 11 are greater than 30 gram-metre, and two are greater than 100 gram-metre. One of the 100 gram-metre intercepts includes the presence of VG (UDH4051 as detailed above), while the other is a sulfide-gold hosted intercept (UDH3980).
Infill and extension drilling of the Lower Phoenix area is continuing from the Phoenix 3912 Drill Drive.
Cygnet and Hangingwall Splay Program
Continued infill and extension drilling of 88 underground diamond drill holes (15,545m) into the Cygnet Mineral Resource and adjacent area has identified several new hangingwall structures. With recent geological interpretation the broader structure has been resolved into several faults, now called Cygnet, Cygnet Hangingwall, Dove, Pen, and Ptarmigan Faults (Figure 3). Of significance, the Pen and Ptarmigan Faults have similar strike trends, approximately 325° Mine Grid, as the northern parts of the Swan Fault, and have returned significant VG in quartz intercepts (Figure 4).
Ongoing drilling in the area and to the north will test for additional hangingwall splay faults.
Key Intercepts include:
Pen Fault Splay
49.4 g/t(1) over 4.1 m (ETW 3.4 m), including 589 g/t(1) over 0.3 m (ETW 0.2 m) in hole UDH3851
153 g/t(1) over 0.5 m (ETW 0.5 m) in hole UDH4065
Ptarmigan Fault Splay
258 g/t(1) over 1.8 m (ETW 1.4 m), including 4,460 g/t(1) over 0.1 m (ETW 0.1 m) in hole UDH4018
142 g/t(1) over 2.0 m (ETW 1.5 m) including 1,590 g/t(1) over 0.2 m (ETW 0.1 m) in hole UDH3924
Infill drilling of the Cygnet Mineral Resource and Reserve area has encountered eight holes with VG in quartz mineralization, of which four have the potential to expand the adjacent Mineral Reserves (Figure 5). The other three intercepts have the potential to increase the Mineral Resources.
Key Cygnet intercepts include:
24.1 g/t(1) over 7.3 m (ETW 5.6 m), including 328 g/t(1) over 0.4 m (ETW 0.3 m) in hole UDH3751
18.7 g/t(1) over 2.6 m (ETW 2.5 m) in hole UDH3752
27.5 g/t(1) over 6.0 m (ETW 4.3 m), including 166 g/t(1) over 0.4 m (ETW 0.3 m) in hole UDH3753
Robbin’s Hill Drilling Programs
Since late 2020, up to five surface diamond drills have operated in the Robbin’s Hill area, primarily targeting gold mineralization along the west-dipping Curie Fault, one of the controlling structures for mineralization at Robbins’s Hill. The program of extension drilling comprised 58 surface diamond drill holes (58,125 m) testing the Curie Fault and adjacent structures. The drilling, down-plunge of the current Curie Mineral Reserve, has continued to encounter strong mineralization and VG at elevations similar to those where VG was first noted in the Lower Phoenix and Harrier Gold Systems.
VG drill intercepts were previously reported for the Curie structure at depths of approximately 500 m in the Company’s news release dated December 10, 2019, with intercepts of 11.7 g/t(1) over 8.8 m (ETW 7.2 m) in hole RDH321, and 24.5 g/t(1) over 3.7 m (ETW 3.4 m) in hole RHD334A. The new drilling has intersected VG at greater depths, with occurrences recorded between 950 to 1,150 metres below surface on the Curie structure in four holes (RDH413, RDH439C, RDH441 and RDH441A) and are detailed below. These intercepts, as well as other sulfide-hosted gold results, increase the down-plunge extent of Curie mineralization to greater than 1,000 metres from current Mineral Reserves (Figure 6).
Key Curie intercepts include:
23.1 g/t(1) over 2.2 m (ETW 1.4 m), including 103 g/t(1) over 0.4 m (ETW 0.2 m) in hole RHD413
81.3 g/t(1) over 2.6 m (ETW 2.5 m), including 982 g/t(1) over 0.2 m (ETW 0.2 m) in hole RHD439C
28.0 g/t(1) over 1.5 m (ETW 1.1 m), including 103 g/t(1) over 0.2 m (ETW 0.2 m) in hole RHD441
19.7 g/t(1) over 3.8 m (ETW 3.4 m), including 158 g/t(1) over 0.4 m (ETW 0.4 m) in hole RHD441A
6.8 g/t over 7.7 m (ETW 5.7 m) in hole RHD440A
9.0 g/t over 2.9 m (ETW 2.7 m) in hole RHD409A
(1) Visible-gold drill intercept
Three surface drills continue to operate at Robbin’s Hill and are focused on the down-plunge extension of the Curie Mineral Resource, and testing of other targets. Two underground diamond drills, located at approximately 10,500mN, have commenced operating from the new Robbin’s Hill Exploration Decline. These drills are also targeting down-plunge extensions of the Curie mineralization.
The Herschel Fault, located hangingwall to the Curie Fault, was drill tested as part of the drilling that targeted Curie Fault mineralization at depth. Drill intercepts for the Herschel structure are mostly less than 500 m below surface. Currently, the most significant intercept contains VG in quartz and is 160 g/t over 4.4 m (ETW 3.8 m), including 1,160 g/t Au over 0.6 m (ETW 0.5 m), in hole RHD412.
Additional drilling into the Herschel Fault will be undertaken once the Robbin’s Hill Decline has progressed further to the north (approximately 12,000mN).
Robbin’s Hill Underground Decline Development
Underground development of the Robbin’s Hill Exploration Decline commenced in January 2020 and has progressed well, advancing a total of 5,932 m as of July 30, 2021. The mid-2020 arrival of a smart jumbo has provided increased development capacity since commencement. The development, since the Q1-2021 has been used an underground drill platform for exploration diamond drilling activities as the ramp progressed northwards.
Qualified Persons
Troy Fuller, MAIG, Director of Exploration, Australia, is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.
For further information regarding the Company’s 2020 Mineral Reserves and Mineral Resources estimates for the Fosterville Gold Mine, please refer to the Company’s News Release dated February 25, 2021 and the Technical Report entitled “Updated NI 43-101 Technical Report Fosterville Gold Mine In the State of Victoria, Australia” effective December 31, 2018, both available on the Company’s website and on SEDAR.
Drilling and Underground Sampling Assay QAQC
Kirkland Lake Gold has in place quality-control systems to ensure best practice in drilling, sampling and analysis of drill core. All surface diamond drill hole collars are accurately surveyed using Leica TS16 Total Station Trimble R10 GPS and underground holes using a Leica TS16 Total Station (Table 2). Down-hole deviations are measured by either electronic gyro or single-shot instruments.
Sampling consisted of diamond drill core that was either half core or full core sampled. Half core samples were cut longitudinally in half with a diamond saw; one-half of the drill core was sent to an independent laboratory for analysis and the other drill core half retained for reference. Sample pulps are returned from the assay laboratory for reference and future geological or metallurgical studies. Drill core sample intervals vary between 0.1 and 1.3m in length and were determined from logging of sulfide and VG to geological boundaries.
For assay QAQC purposes Certified Reference Material (CRM) and Blank samples are inserted into the sample stream at rates of approximately 1 in 25.
Samples containing visible-gold or considered likely to contain visible-gold were separated from sulfide gold samples and dispatched separately for assaying. At the laboratory “visible-gold” jobs were processed through a single pulverizer and material barren of gold (‘quartz wash’) was crushed before and after each sample to minimize the potential for gold to contaminate successive samples.
Assays are either based on 25-gram fire assay or screen fire assay with Atomic Absorption Spectroscopy (AAS) finish. Mean grades are calculated using a variable lower grade cut-off (generally 2 g/t Au) and maximum 2 m internal dilution. No upper gold grade cut-off is applied to the data. However, during future Mineral Resource studies the requirement for assay top cutting will be assessed.
The samples were assayed at On Site Laboratory Services, an independent laboratory in Bendigo, Victoria. The facility is registered under ISO 9001:2015 (CERT-40147) and operates in accordance with ISO/IEC17025 (accreditation no. 20456) under National Association of Testing Authorities, Australia (NATA).
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021. The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website www.kl.gold.com
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Announces-New-High-Grade-Visible-Gold-Bearing-Intersections-Down-Plunge-of-Swan-Zone-at-Cygnet-and-at-Robbins-Hill--Fosterville-Mine/default.aspx
LATEST PRESENTATION
https://s23.q4cdn.com/685814098/files/doc_presentations/2021/07/Q2-2021-CONFERENCE-CALL-AND-WEBCAST-July-29-2021-v12.pdf
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.klgold.com
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884
E-mail: mutting@kl.gold
https://www.kl.gold/news-and-media/default.aspx
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Source: Kirkland Lake Gold Ltd
Ps.
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$Monument Mining Limited (MMY.VN) -
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! smile)
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$Way undervalued and oversold - 5 bagger + + + + ? or more -
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opinion appreciated
TIA
$TJ thanks; Kirkland Lake Gold Announces 10.1 Million Ounce Increase in Measured and Indicated Mineral Resources at Detour Lake Mine
https://www.kl.gold/news-and-media/default.aspx
Measured and Indicated ( 1) (2) (“M&I”) Mineral Resources increase 10,061,000 ounces or 216% from December 31, 2020 estimates to 14,718,000 ounces at June 30, 2021 (572.0 million tonnes (“MT”) at average grade of 0.80 grams per tonne (“g/t”))
M&I Mineral Resource estimates include 12,214,000 ounces ( 3 ) (386.5MT at average grade of 0.98 g/t) with additional 2,505,000 ounces (185.5MT at average grade of 0.42 g/t) of low-grade M&I Mineral Resources ( 4 )
Inferred Mineral Resources at June 30, 2021 of 1,115,000 ounces ( 1) (48.3MT at average grade of 0.81 g/t)
Increase in Mineral Resources expected to drive growth in Mineral Reserves from December 31, 2020 estimate of 15,775,000 ounces (596.1MT at average grade of 0.82 g/t) ( 5 ) ( 6 ) ; December 31, 2021 Mineral Reserve and Mineral Resource estimates to be released in first quarter of 2022.
(1) Mineral Resources are reported exclusive of Mineral Reserves.
(2) Mineral Resources include Mineral Resources considered amenable to open-pit mining methods and are bound within a pit shell.
(3) Measured and Indicated Mineral Resources at 0.50 g/t cut-off grade.
(4) M&I Mineral Resources include Mineral Resources at grades below 0.50 g/t with a cut-off grade of 0.35 g/t.
(5) December 31, 2020 Mineral Reserve estimate includes 13,821,000 ounces (447.4MT at average grade of 0.96 g/t) at a 0.50 g/t cut-off grade with an additional 1,954,000 ounces of low-grade Mineral Reserves (148.7MT at average grade of 0.41 g/t) at grades below 0.50 g/t with a cut-off grade of 0.35 g/t.
(6) See technical report entitled “Detour Lake Operation NI 43-101 Technical Report” with an effective date of December 31, 2020 as filed on SEDAR on March 30, 2021 (the “2020 Technical Report”).
TORONTO, Sept. 02, 2021 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced the release of new Mineral Resource estimates for the Detour Lake Mine (“Detour Lake”) as at June 30, 2021 (“Mid-Year 2021”). Included in the Mid-Year 2021 Mineral Resource estimates are total Measured and Indicated (“M&I”) Mineral Resources, exclusive of Mineral Reserves, of 14,718,000 ounces (572.0 million tonnes (“MT”) at an average grade of 0.80 grams per tonne “g/t”)), an increase of 10,061,000 ounces or 216% from the previous estimate of 4,657,000 ounces (131.2MT at an average grade of $1.10 g/t) as at December 31, 2020 (See 2020 Technical Report filed on SEDAR) as well as Inferred Mineral Resources totalling 1,1155,000 ounces (48.3MT at an average grade of 0.81 g/t). The Mid-Year 2021 Mineral Resource estimates were prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, issued by the Canadian Securities Administrators ("NI 43-101"). The new Mineral Resource estimates are being released as a result of a material increase in M&I Mineral Resources that was identified as part of the Company’s mid-year internal Mineral Resource progress update. The Company plans to release a new NI 43-101 Report to support the Mid-Year 2021 Mineral Resources for the Detour Lake Mine, to be filed within the next 45 days.
The Mid-Year 2021 Mineral Resource estimates were calculated based on the results of 365 holes for 185,000 metres of surface diamond drilling completed since the Company acquired Detour Lake on January 31, 2020. The Company is targeting approximately 100,000 metres of additional drilling by the end of 2021.
Of the 14,718,000 ounces of M&I Mineral Resources included in the Mid-Year 2021 estimates, the majority are located within the Saddle Zone, an area between the existing Main Pit and planned West Pit locations, which had previously been underexplored and had no Mineral Reserves and only limited Mineral Resources. M&I Mineral Resources within the Saddle Zone are allocated to the Main and West pits based on their proximity to the two pit locations. As outlined in the tables below, M&I Mineral Resources within the Main Pit are estimated at 7,103,000 ounces based on 205.6MT at an average grade of 1.07 g/t (0.50 g/t cut-off grade), with an additional 973,000 ounces based on 71.9MT at an average grade of 0.42 g/t of low-grade M&I Mineral Resources (0.35 g/t cut-off grade). The West Pit M&I Mineral Resource estimates include 5,096,000 ounces based on 180.4MT at an average grade of 0.88 g/t (0.50 g/t cut-off grade), with low-grade M&I Mineral Resources totalling 1,530,000 ounces based on 113.5MT at an average grade of 0.42 g/t (0.35 cut-off grade).
Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “When we acquired Detour Lake, we saw many opportunities to optimize the operation and generate value, including increasing production to 800,000 ounces per year, improving all-in sustaining costs (“AISC”) to $800 – $900 per ounce and significantly growing Mineral Resources and Mineral Reserves through an extensive exploration program. As outlined in the technical report and life-of-Mine Plan (“2021 LOMP”) filed in March 2021, we now expect Detour Lake to reach 800,000 ounces of production in 2025, and to ultimately grow to over 900,000 ounces per year, with average AISC targeted at $775 per ounce over the next five years. With today’s results, we have now clearly demonstrated both the tremendous exploration potential at Detour Lake as well as the considerable success being achieved through our drilling programs. Based on drilling to date, we have more than tripled M&I Mineral Resources, with more to come as we work to complete another 100,000 metres of drilling by the end of 2021. Our new M&I Mineral Resource estimates include significant growth in Mineral Resources established using a 0.5 g/t cut-off grade, as well as low-grade Mineral Resources, which under previous plans would have been mined as waste, whereas in the new estimate these will be stockpiled and processed in later years. Everything we see tells us that we are on track for solid growth in Mineral Reserves as part of our December 31, 2021 Mineral Reserve and Mineral Resource statement.
“In addition to the excellent progress being achieved with our exploration program and the completion of our first updated Mineral Resource model since acquiring Detour Lake, we are also advancing efforts to optimize the 2021 LOMP. Based on ongoing work, we are targeting further operational improvements that, in aggregate, are expected to deliver between $750 million and $1.0 billion of value enhancement benefits over the next two to five years. These include a variety of initiatives that should improve mill availability and throughput, metallurgical recovery, grade control, automation, innovation and site optimization.”
DETOUR LAKE MEASURED & INDICATED MINERAL RESOURCES (EFFECTIVE JUNE 30, 2021) ( 1) (2)
https://www.kl.gold/news-and-media/default.aspx
$Kirkland Lake Gold Announces New High-Grade, Visible-Gold Bearing
Intersections Down-Plunge of Swan Zone, at Cygnet and at Robbin’s Hill
– Fosterville Mine
August 30, 2021
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Announces-New-High-Grade-Visible-Gold-Bearing-Intersections-Down-Plunge-of-Swan-Zone-at-Cygnet-and-at-Robbins-Hill--Fosterville-Mine/default.aspx
Drilling from recently completed P3912 drill drive intersects high-grade, visible-gold (“VG”) mineralization down-plunge of Swan Zone, 500 metres (“m”) from deepest Mineral Reserves
Key intercepts: 51.7 g/t over 2.6 m (ETW 2.2 m) and 9.6 g/t over 6.4 m (ETW 4.9 m)
New high-grade, VG-bearing intercepts reported along Cygnet Fault system ~150 m footwall to Swan Zone; results support potential for growth in Mineral Reserves and include identification of multiple new splay structures and opportunities for further extension of the fault system to the north
Key intercepts: 258 g/t over 1.8 m (ETW 1.4 m), 142 g/t over 2.0 (ETW 1.5 m), 49.4 g/t over 4.1 m (ETW 3.4 m), 27.5 g/t over 6.0 m (ETW 4.3 m) and 67.1 g/t over 0.3 m (ETW 0.3 m)
New VG-bearing mineralization intersected up to 1,000 m down-plunge of existing Mineral Reserves along Curie Fault at Robbin’s Hill
Key intercepts: 81.3 g/t over 2.6 m (ETW 2.5 m) and 23.1 g/t over 2.2 m (ETW 1.4 m).
Abbreviations include: VG – Visible Gold; g/t – grams per tonne gold; ETW – estimated true width.
TORONTO, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced results from 197 underground and 58 surface holes of drilling as an update of exploration drilling carried out at Fosterville Gold Mine since the December 31, 2020 Mineral Resources and Reserve update released in February 2021. The release includes diamond drilling results from five key areas across the Fosterville property, including underground targets at Lower Phoenix, the Cygnet Fault System, with associated hangingwall splay structures, and the Curie and Herschel Fault structures at Robbins Hill (Figure 1). Of the 197 underground diamond drill holes, 109 tested the Lower Phoenix structure, with the remaining 88 holes related to drilling of the Cygnet Fault System and associated hangingwall structures. At Robbin’s Hill, 58 new surface diamond drill holes targeted the Curie and Herschel Fault structures. All drilling results and collar information are presented in Tables 1 and 2.
Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “The results being released today continue to support our view that substantial potential exists to discover new high-grade mineralized areas and extensions and to grow Mineral Reserves at Fosterville. Following completion of the new P3912 underground drill drift, we commenced an extensive underground drilling program down-plunge of the Swan Zone in Lower Phoenix and have already returned a number of high-grade intersections containing the same quartz with VG mineralization that accounts for the ultra-high grades found in Swan. While the down-plunge extension of Swan Zone is obviously a key target for future growth in Mineral Reserves and Mineral Resources, we are also very encouraged by continued favorable results at Cygnet, a parallel structure near the Swan Zone. The results at Cygnet include new high-grade, VG-bearing intersections as well as the identification of new splay structures and opportunities for further growth of the Cygnet Fault System to the north.
“Turning to Robbin’s Hill, drill results continue to confirm the size and scale of the target areas at what we expect to become our second mining operation feeding the Fosterville Mill. Along the Curie Fault, we have now intersected VG mineralization up to 1,000 m down-plunge from current Mineral Reserves and at elevations from surface similar to where we first detected VG in the Lower Phoenix and Harrier systems. With the progress achieved advancing the new Robbin’s Hill Decline, we have now commenced underground drilling at Robbin’s Hill to support future exploration of the Curie, Herschel and other Fault targets. Underground drilling from the new Decline will significantly improve the efficiency and effectiveness of the Robbin’s Hill exploration programs. We currently have nine underground and eight surface diamond drills operating at Fosterville, with a total of 210,000 metres of drilling expected to be completed during 2021.”
Lower Phoenix Infill and Extension Program
During 2021, underground diamond drilling targeting areas down-plunge of the Swan Mineral Reserves has returned encouraging results, demonstrating continuity of mineralization within, and extensions of Inferred Mineral Resources, in the Lower Phoenix System (Figure 2).
Drilling was undertaken from several underground drill platforms, including the Harrier link drive, P4040 drive, and the new P3912 drive following its completion in early June. A total of 109 Lower Phoenix diamond holes (31,106 m) has progressively tested the Swan/Lower Phoenix over 550m down-plunge length from the Swan Mineral Reserve. Significant recent results include two that are at the southern extremities of the Lower Phoenix Inferred Mineral Resources approximately 500 m down-plunge of current Mineral Reserves. Drill testing down-plunge of these intercepts is planned to assess the continuity and extents of these VG occurrences.
Recent significant intercepts from drilling in Lower Phoenix include:
51.7 g/t(1) over 2.6 m (ETW 2.2 m), Including 215 g/t1) over 0.6 m (ETW 0.5 m) in hole UDH4051
9.6 g/t(1) over 6.4 m (ETW 4.9 m), Including 78.8 g/t(1) over 0.5 m (ETW 0.4 m) in hole UDH4048
10.8 g/t(1) over 4.8 m (ETW 3.7 m), Including 31.2 g/t(1) over 1.1 m (ETW 0.8 m) in hole UDH3954
10.0 g/t over 17.6 m (ETW 10.4 m) in hole UDH3980
(1) Visible-gold drill intercept
New drilling outside of the existing Indicated Mineral Resources reaffirmed the continuity of the largely sulfide-hosted mineralization with 30 intercepts greater than 15 gram-metre (gram-metre = gold grade x estimated true width), of which 11 are greater than 30 gram-metre, and two are greater than 100 gram-metre. One of the 100 gram-metre intercepts includes the presence of VG (UDH4051 as detailed above), while the other is a sulfide-gold hosted intercept (UDH3980).
Infill and extension drilling of the Lower Phoenix area is continuing from the Phoenix 3912 Drill Drive.
Cygnet and Hangingwall Splay Program
Continued infill and extension drilling of 88 underground diamond drill holes (15,545m) into the Cygnet Mineral Resource and adjacent area has identified several new hangingwall structures. With recent geological interpretation the broader structure has been resolved into several faults, now called Cygnet, Cygnet Hangingwall, Dove, Pen, and Ptarmigan Faults (Figure 3). Of significance, the Pen and Ptarmigan Faults have similar strike trends, approximately 325° Mine Grid, as the northern parts of the Swan Fault, and have returned significant VG in quartz intercepts (Figure 4).
Ongoing drilling in the area and to the north will test for additional hangingwall splay faults.
Key Intercepts include:
Pen Fault Splay
49.4 g/t(1) over 4.1 m (ETW 3.4 m), including 589 g/t(1) over 0.3 m (ETW 0.2 m) in hole UDH3851
153 g/t(1) over 0.5 m (ETW 0.5 m) in hole UDH4065
Ptarmigan Fault Splay
258 g/t(1) over 1.8 m (ETW 1.4 m), including 4,460 g/t(1) over 0.1 m (ETW 0.1 m) in hole UDH4018
142 g/t(1) over 2.0 m (ETW 1.5 m) including 1,590 g/t(1) over 0.2 m (ETW 0.1 m) in hole UDH3924
Infill drilling of the Cygnet Mineral Resource and Reserve area has encountered eight holes with VG in quartz mineralization, of which four have the potential to expand the adjacent Mineral Reserves (Figure 5). The other three intercepts have the potential to increase the Mineral Resources.
Key Cygnet intercepts include:
24.1 g/t(1) over 7.3 m (ETW 5.6 m), including 328 g/t(1) over 0.4 m (ETW 0.3 m) in hole UDH3751
18.7 g/t(1) over 2.6 m (ETW 2.5 m) in hole UDH3752
27.5 g/t(1) over 6.0 m (ETW 4.3 m), including 166 g/t(1) over 0.4 m (ETW 0.3 m) in hole UDH3753
Robbin’s Hill Drilling Programs
Since late 2020, up to five surface diamond drills have operated in the Robbin’s Hill area, primarily targeting gold mineralization along the west-dipping Curie Fault, one of the controlling structures for mineralization at Robbins’s Hill. The program of extension drilling comprised 58 surface diamond drill holes (58,125 m) testing the Curie Fault and adjacent structures. The drilling, down-plunge of the current Curie Mineral Reserve, has continued to encounter strong mineralization and VG at elevations similar to those where VG was first noted in the Lower Phoenix and Harrier Gold Systems.
VG drill intercepts were previously reported for the Curie structure at depths of approximately 500 m in the Company’s news release dated December 10, 2019, with intercepts of 11.7 g/t(1) over 8.8 m (ETW 7.2 m) in hole RDH321, and 24.5 g/t(1) over 3.7 m (ETW 3.4 m) in hole RHD334A. The new drilling has intersected VG at greater depths, with occurrences recorded between 950 to 1,150 metres below surface on the Curie structure in four holes (RDH413, RDH439C, RDH441 and RDH441A) and are detailed below. These intercepts, as well as other sulfide-hosted gold results, increase the down-plunge extent of Curie mineralization to greater than 1,000 metres from current Mineral Reserves (Figure 6).
Key Curie intercepts include:
23.1 g/t(1) over 2.2 m (ETW 1.4 m), including 103 g/t(1) over 0.4 m (ETW 0.2 m) in hole RHD413
81.3 g/t(1) over 2.6 m (ETW 2.5 m), including 982 g/t(1) over 0.2 m (ETW 0.2 m) in hole RHD439C
28.0 g/t(1) over 1.5 m (ETW 1.1 m), including 103 g/t(1) over 0.2 m (ETW 0.2 m) in hole RHD441
19.7 g/t(1) over 3.8 m (ETW 3.4 m), including 158 g/t(1) over 0.4 m (ETW 0.4 m) in hole RHD441A
6.8 g/t over 7.7 m (ETW 5.7 m) in hole RHD440A
9.0 g/t over 2.9 m (ETW 2.7 m) in hole RHD409A
(1) Visible-gold drill intercept
Three surface drills continue to operate at Robbin’s Hill and are focused on the down-plunge extension of the Curie Mineral Resource, and testing of other targets. Two underground diamond drills, located at approximately 10,500mN, have commenced operating from the new Robbin’s Hill Exploration Decline. These drills are also targeting down-plunge extensions of the Curie mineralization.
The Herschel Fault, located hangingwall to the Curie Fault, was drill tested as part of the drilling that targeted Curie Fault mineralization at depth. Drill intercepts for the Herschel structure are mostly less than 500 m below surface. Currently, the most significant intercept contains VG in quartz and is 160 g/t over 4.4 m (ETW 3.8 m), including 1,160 g/t Au over 0.6 m (ETW 0.5 m), in hole RHD412.
Additional drilling into the Herschel Fault will be undertaken once the Robbin’s Hill Decline has progressed further to the north (approximately 12,000mN).
Robbin’s Hill Underground Decline Development
Underground development of the Robbin’s Hill Exploration Decline commenced in January 2020 and has progressed well, advancing a total of 5,932 m as of July 30, 2021. The mid-2020 arrival of a smart jumbo has provided increased development capacity since commencement. The development, since the Q1-2021 has been used an underground drill platform for exploration diamond drilling activities as the ramp progressed northwards.
Qualified Persons
Troy Fuller, MAIG, Director of Exploration, Australia, is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.
For further information regarding the Company’s 2020 Mineral Reserves and Mineral Resources estimates for the Fosterville Gold Mine, please refer to the Company’s News Release dated February 25, 2021 and the Technical Report entitled “Updated NI 43-101 Technical Report Fosterville Gold Mine In the State of Victoria, Australia” effective December 31, 2018, both available on the Company’s website and on SEDAR.
Drilling and Underground Sampling Assay QAQC
Kirkland Lake Gold has in place quality-control systems to ensure best practice in drilling, sampling and analysis of drill core. All surface diamond drill hole collars are accurately surveyed using Leica TS16 Total Station Trimble R10 GPS and underground holes using a Leica TS16 Total Station (Table 2). Down-hole deviations are measured by either electronic gyro or single-shot instruments.
Sampling consisted of diamond drill core that was either half core or full core sampled. Half core samples were cut longitudinally in half with a diamond saw; one-half of the drill core was sent to an independent laboratory for analysis and the other drill core half retained for reference. Sample pulps are returned from the assay laboratory for reference and future geological or metallurgical studies. Drill core sample intervals vary between 0.1 and 1.3m in length and were determined from logging of sulfide and VG to geological boundaries.
For assay QAQC purposes Certified Reference Material (CRM) and Blank samples are inserted into the sample stream at rates of approximately 1 in 25.
Samples containing visible-gold or considered likely to contain visible-gold were separated from sulfide gold samples and dispatched separately for assaying. At the laboratory “visible-gold” jobs were processed through a single pulverizer and material barren of gold (‘quartz wash’) was crushed before and after each sample to minimize the potential for gold to contaminate successive samples.
Assays are either based on 25-gram fire assay or screen fire assay with Atomic Absorption Spectroscopy (AAS) finish. Mean grades are calculated using a variable lower grade cut-off (generally 2 g/t Au) and maximum 2 m internal dilution. No upper gold grade cut-off is applied to the data. However, during future Mineral Resource studies the requirement for assay top cutting will be assessed.
The samples were assayed at On Site Laboratory Services, an independent laboratory in Bendigo, Victoria. The facility is registered under ISO 9001:2015 (CERT-40147) and operates in accordance with ISO/IEC17025 (accreditation no. 20456) under National Association of Testing Authorities, Australia (NATA).
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021. The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website www.kl.gold.com
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Announces-New-High-Grade-Visible-Gold-Bearing-Intersections-Down-Plunge-of-Swan-Zone-at-Cygnet-and-at-Robbins-Hill--Fosterville-Mine/default.aspx
LATEST PRESENTATION
https://s23.q4cdn.com/685814098/files/doc_presentations/2021/07/Q2-2021-CONFERENCE-CALL-AND-WEBCAST-July-29-2021-v12.pdf
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.klgold.com
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884
E-mail: mutting@kl.gold
https://www.kl.gold/news-and-media/default.aspx
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Source: Kirkland Lake Gold Ltd
Ps.
Kirkland Lake Gold should buy MMY bargain producer of gold & silver -
$Monument Mining Limited (MMY.VN) -
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! smile)
https://www.barchart.com/stocks/quotes/MMY.VN/opinion
$Way undervalued and oversold - 5 bagger + + + + ? or more -
IMO!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161590519
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
$Kirkland Lake Gold Announces New High-Grade, Visible-Gold Bearing
Intersections Down-Plunge of Swan Zone, at Cygnet and at Robbin’s Hill
– Fosterville Mine
August 30, 2021
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Announces-New-High-Grade-Visible-Gold-Bearing-Intersections-Down-Plunge-of-Swan-Zone-at-Cygnet-and-at-Robbins-Hill--Fosterville-Mine/default.aspx
Drilling from recently completed P3912 drill drive intersects high-grade, visible-gold (“VG”) mineralization down-plunge of Swan Zone, 500 metres (“m”) from deepest Mineral Reserves
Key intercepts: 51.7 g/t over 2.6 m (ETW 2.2 m) and 9.6 g/t over 6.4 m (ETW 4.9 m)
New high-grade, VG-bearing intercepts reported along Cygnet Fault system ~150 m footwall to Swan Zone; results support potential for growth in Mineral Reserves and include identification of multiple new splay structures and opportunities for further extension of the fault system to the north
Key intercepts: 258 g/t over 1.8 m (ETW 1.4 m), 142 g/t over 2.0 (ETW 1.5 m), 49.4 g/t over 4.1 m (ETW 3.4 m), 27.5 g/t over 6.0 m (ETW 4.3 m) and 67.1 g/t over 0.3 m (ETW 0.3 m)
New VG-bearing mineralization intersected up to 1,000 m down-plunge of existing Mineral Reserves along Curie Fault at Robbin’s Hill
Key intercepts: 81.3 g/t over 2.6 m (ETW 2.5 m) and 23.1 g/t over 2.2 m (ETW 1.4 m).
Abbreviations include: VG – Visible Gold; g/t – grams per tonne gold; ETW – estimated true width.
TORONTO, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced results from 197 underground and 58 surface holes of drilling as an update of exploration drilling carried out at Fosterville Gold Mine since the December 31, 2020 Mineral Resources and Reserve update released in February 2021. The release includes diamond drilling results from five key areas across the Fosterville property, including underground targets at Lower Phoenix, the Cygnet Fault System, with associated hangingwall splay structures, and the Curie and Herschel Fault structures at Robbins Hill (Figure 1). Of the 197 underground diamond drill holes, 109 tested the Lower Phoenix structure, with the remaining 88 holes related to drilling of the Cygnet Fault System and associated hangingwall structures. At Robbin’s Hill, 58 new surface diamond drill holes targeted the Curie and Herschel Fault structures. All drilling results and collar information are presented in Tables 1 and 2.
Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “The results being released today continue to support our view that substantial potential exists to discover new high-grade mineralized areas and extensions and to grow Mineral Reserves at Fosterville. Following completion of the new P3912 underground drill drift, we commenced an extensive underground drilling program down-plunge of the Swan Zone in Lower Phoenix and have already returned a number of high-grade intersections containing the same quartz with VG mineralization that accounts for the ultra-high grades found in Swan. While the down-plunge extension of Swan Zone is obviously a key target for future growth in Mineral Reserves and Mineral Resources, we are also very encouraged by continued favorable results at Cygnet, a parallel structure near the Swan Zone. The results at Cygnet include new high-grade, VG-bearing intersections as well as the identification of new splay structures and opportunities for further growth of the Cygnet Fault System to the north.
“Turning to Robbin’s Hill, drill results continue to confirm the size and scale of the target areas at what we expect to become our second mining operation feeding the Fosterville Mill. Along the Curie Fault, we have now intersected VG mineralization up to 1,000 m down-plunge from current Mineral Reserves and at elevations from surface similar to where we first detected VG in the Lower Phoenix and Harrier systems. With the progress achieved advancing the new Robbin’s Hill Decline, we have now commenced underground drilling at Robbin’s Hill to support future exploration of the Curie, Herschel and other Fault targets. Underground drilling from the new Decline will significantly improve the efficiency and effectiveness of the Robbin’s Hill exploration programs. We currently have nine underground and eight surface diamond drills operating at Fosterville, with a total of 210,000 metres of drilling expected to be completed during 2021.”
Lower Phoenix Infill and Extension Program
During 2021, underground diamond drilling targeting areas down-plunge of the Swan Mineral Reserves has returned encouraging results, demonstrating continuity of mineralization within, and extensions of Inferred Mineral Resources, in the Lower Phoenix System (Figure 2).
Drilling was undertaken from several underground drill platforms, including the Harrier link drive, P4040 drive, and the new P3912 drive following its completion in early June. A total of 109 Lower Phoenix diamond holes (31,106 m) has progressively tested the Swan/Lower Phoenix over 550m down-plunge length from the Swan Mineral Reserve. Significant recent results include two that are at the southern extremities of the Lower Phoenix Inferred Mineral Resources approximately 500 m down-plunge of current Mineral Reserves. Drill testing down-plunge of these intercepts is planned to assess the continuity and extents of these VG occurrences.
Recent significant intercepts from drilling in Lower Phoenix include:
51.7 g/t(1) over 2.6 m (ETW 2.2 m), Including 215 g/t1) over 0.6 m (ETW 0.5 m) in hole UDH4051
9.6 g/t(1) over 6.4 m (ETW 4.9 m), Including 78.8 g/t(1) over 0.5 m (ETW 0.4 m) in hole UDH4048
10.8 g/t(1) over 4.8 m (ETW 3.7 m), Including 31.2 g/t(1) over 1.1 m (ETW 0.8 m) in hole UDH3954
10.0 g/t over 17.6 m (ETW 10.4 m) in hole UDH3980
(1) Visible-gold drill intercept
New drilling outside of the existing Indicated Mineral Resources reaffirmed the continuity of the largely sulfide-hosted mineralization with 30 intercepts greater than 15 gram-metre (gram-metre = gold grade x estimated true width), of which 11 are greater than 30 gram-metre, and two are greater than 100 gram-metre. One of the 100 gram-metre intercepts includes the presence of VG (UDH4051 as detailed above), while the other is a sulfide-gold hosted intercept (UDH3980).
Infill and extension drilling of the Lower Phoenix area is continuing from the Phoenix 3912 Drill Drive.
Cygnet and Hangingwall Splay Program
Continued infill and extension drilling of 88 underground diamond drill holes (15,545m) into the Cygnet Mineral Resource and adjacent area has identified several new hangingwall structures. With recent geological interpretation the broader structure has been resolved into several faults, now called Cygnet, Cygnet Hangingwall, Dove, Pen, and Ptarmigan Faults (Figure 3). Of significance, the Pen and Ptarmigan Faults have similar strike trends, approximately 325° Mine Grid, as the northern parts of the Swan Fault, and have returned significant VG in quartz intercepts (Figure 4).
Ongoing drilling in the area and to the north will test for additional hangingwall splay faults.
Key Intercepts include:
Pen Fault Splay
49.4 g/t(1) over 4.1 m (ETW 3.4 m), including 589 g/t(1) over 0.3 m (ETW 0.2 m) in hole UDH3851
153 g/t(1) over 0.5 m (ETW 0.5 m) in hole UDH4065
Ptarmigan Fault Splay
258 g/t(1) over 1.8 m (ETW 1.4 m), including 4,460 g/t(1) over 0.1 m (ETW 0.1 m) in hole UDH4018
142 g/t(1) over 2.0 m (ETW 1.5 m) including 1,590 g/t(1) over 0.2 m (ETW 0.1 m) in hole UDH3924
Infill drilling of the Cygnet Mineral Resource and Reserve area has encountered eight holes with VG in quartz mineralization, of which four have the potential to expand the adjacent Mineral Reserves (Figure 5). The other three intercepts have the potential to increase the Mineral Resources.
Key Cygnet intercepts include:
24.1 g/t(1) over 7.3 m (ETW 5.6 m), including 328 g/t(1) over 0.4 m (ETW 0.3 m) in hole UDH3751
18.7 g/t(1) over 2.6 m (ETW 2.5 m) in hole UDH3752
27.5 g/t(1) over 6.0 m (ETW 4.3 m), including 166 g/t(1) over 0.4 m (ETW 0.3 m) in hole UDH3753
Robbin’s Hill Drilling Programs
Since late 2020, up to five surface diamond drills have operated in the Robbin’s Hill area, primarily targeting gold mineralization along the west-dipping Curie Fault, one of the controlling structures for mineralization at Robbins’s Hill. The program of extension drilling comprised 58 surface diamond drill holes (58,125 m) testing the Curie Fault and adjacent structures. The drilling, down-plunge of the current Curie Mineral Reserve, has continued to encounter strong mineralization and VG at elevations similar to those where VG was first noted in the Lower Phoenix and Harrier Gold Systems.
VG drill intercepts were previously reported for the Curie structure at depths of approximately 500 m in the Company’s news release dated December 10, 2019, with intercepts of 11.7 g/t(1) over 8.8 m (ETW 7.2 m) in hole RDH321, and 24.5 g/t(1) over 3.7 m (ETW 3.4 m) in hole RHD334A. The new drilling has intersected VG at greater depths, with occurrences recorded between 950 to 1,150 metres below surface on the Curie structure in four holes (RDH413, RDH439C, RDH441 and RDH441A) and are detailed below. These intercepts, as well as other sulfide-hosted gold results, increase the down-plunge extent of Curie mineralization to greater than 1,000 metres from current Mineral Reserves (Figure 6).
Key Curie intercepts include:
23.1 g/t(1) over 2.2 m (ETW 1.4 m), including 103 g/t(1) over 0.4 m (ETW 0.2 m) in hole RHD413
81.3 g/t(1) over 2.6 m (ETW 2.5 m), including 982 g/t(1) over 0.2 m (ETW 0.2 m) in hole RHD439C
28.0 g/t(1) over 1.5 m (ETW 1.1 m), including 103 g/t(1) over 0.2 m (ETW 0.2 m) in hole RHD441
19.7 g/t(1) over 3.8 m (ETW 3.4 m), including 158 g/t(1) over 0.4 m (ETW 0.4 m) in hole RHD441A
6.8 g/t over 7.7 m (ETW 5.7 m) in hole RHD440A
9.0 g/t over 2.9 m (ETW 2.7 m) in hole RHD409A
(1) Visible-gold drill intercept
Three surface drills continue to operate at Robbin’s Hill and are focused on the down-plunge extension of the Curie Mineral Resource, and testing of other targets. Two underground diamond drills, located at approximately 10,500mN, have commenced operating from the new Robbin’s Hill Exploration Decline. These drills are also targeting down-plunge extensions of the Curie mineralization.
The Herschel Fault, located hangingwall to the Curie Fault, was drill tested as part of the drilling that targeted Curie Fault mineralization at depth. Drill intercepts for the Herschel structure are mostly less than 500 m below surface. Currently, the most significant intercept contains VG in quartz and is 160 g/t over 4.4 m (ETW 3.8 m), including 1,160 g/t Au over 0.6 m (ETW 0.5 m), in hole RHD412.
Additional drilling into the Herschel Fault will be undertaken once the Robbin’s Hill Decline has progressed further to the north (approximately 12,000mN).
Robbin’s Hill Underground Decline Development
Underground development of the Robbin’s Hill Exploration Decline commenced in January 2020 and has progressed well, advancing a total of 5,932 m as of July 30, 2021. The mid-2020 arrival of a smart jumbo has provided increased development capacity since commencement. The development, since the Q1-2021 has been used an underground drill platform for exploration diamond drilling activities as the ramp progressed northwards.
Qualified Persons
Troy Fuller, MAIG, Director of Exploration, Australia, is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.
For further information regarding the Company’s 2020 Mineral Reserves and Mineral Resources estimates for the Fosterville Gold Mine, please refer to the Company’s News Release dated February 25, 2021 and the Technical Report entitled “Updated NI 43-101 Technical Report Fosterville Gold Mine In the State of Victoria, Australia” effective December 31, 2018, both available on the Company’s website and on SEDAR.
Drilling and Underground Sampling Assay QAQC
Kirkland Lake Gold has in place quality-control systems to ensure best practice in drilling, sampling and analysis of drill core. All surface diamond drill hole collars are accurately surveyed using Leica TS16 Total Station Trimble R10 GPS and underground holes using a Leica TS16 Total Station (Table 2). Down-hole deviations are measured by either electronic gyro or single-shot instruments.
Sampling consisted of diamond drill core that was either half core or full core sampled. Half core samples were cut longitudinally in half with a diamond saw; one-half of the drill core was sent to an independent laboratory for analysis and the other drill core half retained for reference. Sample pulps are returned from the assay laboratory for reference and future geological or metallurgical studies. Drill core sample intervals vary between 0.1 and 1.3m in length and were determined from logging of sulfide and VG to geological boundaries.
For assay QAQC purposes Certified Reference Material (CRM) and Blank samples are inserted into the sample stream at rates of approximately 1 in 25.
Samples containing visible-gold or considered likely to contain visible-gold were separated from sulfide gold samples and dispatched separately for assaying. At the laboratory “visible-gold” jobs were processed through a single pulverizer and material barren of gold (‘quartz wash’) was crushed before and after each sample to minimize the potential for gold to contaminate successive samples.
Assays are either based on 25-gram fire assay or screen fire assay with Atomic Absorption Spectroscopy (AAS) finish. Mean grades are calculated using a variable lower grade cut-off (generally 2 g/t Au) and maximum 2 m internal dilution. No upper gold grade cut-off is applied to the data. However, during future Mineral Resource studies the requirement for assay top cutting will be assessed.
The samples were assayed at On Site Laboratory Services, an independent laboratory in Bendigo, Victoria. The facility is registered under ISO 9001:2015 (CERT-40147) and operates in accordance with ISO/IEC17025 (accreditation no. 20456) under National Association of Testing Authorities, Australia (NATA).
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021. The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website www.kl.gold.com
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Announces-New-High-Grade-Visible-Gold-Bearing-Intersections-Down-Plunge-of-Swan-Zone-at-Cygnet-and-at-Robbins-Hill--Fosterville-Mine/default.aspx
LATEST PRESENTATION
https://s23.q4cdn.com/685814098/files/doc_presentations/2021/07/Q2-2021-CONFERENCE-CALL-AND-WEBCAST-July-29-2021-v12.pdf
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.klgold.com
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884
E-mail: mutting@kl.gold
https://www.kl.gold/news-and-media/default.aspx
Primary Logo
Source: Kirkland Lake Gold Ltd
Ps.
Kirkland Lake Gold should buy MMY bargain producer of gold & silver -
$Monument Mining Limited (MMY.VN) -
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! smile)
https://www.barchart.com/stocks/quotes/MMY.VN/opinion
$Way undervalued and oversold - 5 bagger + + + + ? or more -
IMO!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161590519
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
Shermann thanks; RE: WE hear a clock ticking.........
EURO fiat slave currencies going down IMO!.....
European Central bank is completely broke. The pension funds is completely empty
https://twitter.com/SarahHa66971729/status/1430612397874728966?s=20
China Is Prepared For The Dollar Collapse Using Gold and Silver as Weapons | Alasdair Macleod
122 viewsAug 21, 2021
tootalljones thanks; China Is Prepared For The Dollar Collapse Using Gold and Silver as Weapons | Alasdair Macleod
122 viewsAug 21, 2021
) Look At What India’s Central Bank Just Said About Gold, Plus This Is Why A Massive 5-10X Gold Revaluation Is Coming
August 12, 2021
https://kingworldnews.com/look-at-what-indias-central-bank-just-said-about-gold-plus-this-is-why-a-massive-5-10x-gold-revaluation-is-coming/
Expect $2,410 Gold As Major Bottom Forms Accompanied By Doom & Gloom While Inflation Continues To Spike
August 11, 2021
We are in the process of seeing a major gold bottom that is accompanied by
doom and gloom while inflation continues to spike.
$2,410 Gold
August 11 (King World News) – Alasdair Macleod: This chart shows that the
difference between M3 (the blue line) and the gold price (red line) is about 41% (the grey line — right hand scale).
The point is that since the Lehman failure, gold has not been this cheap
relative to broad money at a time when it is getting increasingly
difficult for the Fed to control monetary expansion.
And since gold bottomed in December 2015, gold’s discount to M3 has only
approached these levels twice before.
https://kingworldnews.com/major-gold-bottom-accompanied-by-doom-gloom-while-inflation-continues-to-spike/
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165396268
$bigone thanks; Senate OKs Dems' Massive $3.5T Spending Programs
11 August 2021
Democrats have said their policies will be fully paid for, but they'll make
no final decisions until this fall's follow-up bill.
https://www.newsmax.com/newsfront/senate-approves-3-5-budget-resolution/2021/08/11/id/1031883/
$500 TRILLION LAWSUIT AGAINST FEDERAL GOVT AND OVER 140 MONOPOLISTS
WATCH
https://www.bitchute.com/video/CnJLBpmf8VaR/
$Kirkland Lake Gold Reports Record Net Earnings in Q2 2021
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-Record-Net-Earnings-in-Q2-2021/default.aspx
LATEST PRESENTATION
https://s23.q4cdn.com/685814098/files/doc_presentations/2021/07/Q2-2021-CONFERENCE-CALL-AND-WEBCAST-July-29-2021-v12.pdf
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.klgold.com
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884
E-mail: mutting@kl.gold
https://www.kl.gold/news-and-media/default.aspx
Primary Logo
Source: Kirkland Lake Gold Ltd
Ps.
Kirkland Lake Gold should buy MMY bargain producer of gold & silver -
$Monument Mining Limited (MMY.VN) -
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! smile)
https://www.barchart.com/stocks/quotes/MMY.VN/opinion
$Way undervalued and oversold - 5 bagger + + + + ? or more -
IMO!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161590519
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
$Shermann thanks; Senate OKs Dems' Massive $3.5T Spending Programs
11 August 2021
Democrats have said their policies will be fully paid for, but they'll make
no final decisions until this fall's follow-up bill.
https://www.newsmax.com/newsfront/senate-approves-3-5-budget-resolution/2021/08/11/id/1031883/
$500 TRILLION LAWSUIT AGAINST FEDERAL GOVT AND OVER 140 MONOPOLISTS
WATCH
https://www.bitchute.com/video/CnJLBpmf8VaR/
$Kirkland Lake Gold Reports Record Net Earnings in Q2 2021
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-Record-Net-Earnings-in-Q2-2021/default.aspx
LATEST PRESENTATION
https://s23.q4cdn.com/685814098/files/doc_presentations/2021/07/Q2-2021-CONFERENCE-CALL-AND-WEBCAST-July-29-2021-v12.pdf
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.klgold.com
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884
E-mail: mutting@kl.gold
https://www.kl.gold/news-and-media/default.aspx
Primary Logo
Source: Kirkland Lake Gold Ltd
Ps.
Kirkland Lake Gold should buy MMY bargain producer of gold & silver -
$Monument Mining Limited (MMY.VN) -
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! smile)
https://www.barchart.com/stocks/quotes/MMY.VN/opinion
$Way undervalued and oversold - 5 bagger + + + + ? or more -
IMO!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161590519
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
Shermann thanks; The extinction of gold derivatives
By Alasdair MacleodGoldmoney Insights August 05, 2021
https://www.goldmoney.com/research/goldmoney-insights/the-extinction-of-gold-derivatives?gmrefcode=gata
$500 TRILLION LAWSUIT AGAINST FEDERAL GOVT AND OVER 140 MONOPOLISTS
WATCH
https://www.bitchute.com/video/CnJLBpmf8VaR/
$Kirkland Lake Gold Reports Record Net Earnings in Q2 2021
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-Record-Net-Earnings-in-Q2-2021/default.aspx
LATEST PRESENTATION
https://www.kl.gold/home/default.aspx
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website www.kl.gold.
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884
E-mail: mutting@kl.gold
https://www.kl.gold/news-and-media/default.aspx
Primary Logo
Source: Kirkland Lake Gold Ltd
Ps.
Kirkland Lake Gold should buy MMY bargain producer of gold & silver -
$Monument Mining Limited (MMY.VN) -
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! smile)
https://www.barchart.com/stocks/quotes/MMY.VN/opinion
$Way undervalued and oversold - 5 bagger + + + + ? or more -
IMO!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161590519
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
$Kirkland Lake Gold Reports Record Net Earnings in Q2 2021
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-Record-Net-Earnings-in-Q2-2021/default.aspx
TORONTO, July 28, 2021 (GLOBE NEWSWIRE) --
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced the Company’s financial and operating results for the second quarter (“Q2 2021”) and first six months (“YTD 2021”) of 2021.
The results included record quarterly net earnings and earnings per share driven by strong operating results and revenue growth, largely reflecting continued outperformance at Fosterville.
All three of the Company’s cornerstone assets increased production compared to both the second quarter of 2020 (“Q2 2020”) and the previous quarter (“Q1 2021”).
The Company also reported solid earnings growth in YTD 2021 compared to the first six months of 2020 (“YTD 2020”), resulting largely from increased revenue. The Company’s full financial statements and management discussion & analysis are available on SEDAR at www.sedar.com and on the Company’s website at www.kl.gold.
https://www.kl.gold/home/default.aspx
All dollar amounts are in U.S. dollars, unless otherwise noted.
Tony Makuch, President and Chief Executive Officer of Kirkland Lake Gold commented: “We had an excellent quarter in Q2 2021 highlighted by record earnings, record quarterly production, strong revenue growth and significant increases in both operating and free cash flow. All three of our cornerstone assets increased production during Q2 2021, with Fosterville having a particularly successful quarter based largely on continued grade outperformance. In addition, we benefited from solid unit costs performances at all three operations, resulting in operating cash costs and AISC for the quarter that were better than full-year guidance. Also, during Q2 2021, we continued to generate very encouraging drill results and advanced our many growth and business improvement projects at Detour Lake, all of which are being completed as part of our work to transform Detour Lake into one of the world’s largest and most profitable gold mines. We also continued to achieve excellent progress at Macassa, with the #4 Shaft project remaining ahead of schedule and new drill results continuing to intersect wide, high-grade mineralization outside of existing Mineral Reserves. Our financial strength continued to improve during Q2 2021, with cash increasing to $858.4 million, and we remain committed to returning capital to shareholders, renewing our normal course issuer bid and introducing an automatic share purchase plan. We returned $158.6 million to shareholders during the first half of 2021 and have returned an additional $37.7 million in July through our Q2 2021 dividend payment and by repurchasing 945,000 shares through the NCIB.”
$RECORD NET EARNINGS AND EPS IN Q2 2021
Net earnings of $224.2M ($0.91/share), 67% increase from Q2 2020, 51% higher than Q1 2021; Adjusted EPS(1)of $246.9M ($0.92/share) in 02 2021
STRONG PRODUCTION GROWTH IN Q2 2021
379,195 oz in Q2 2021, up 15% from Q2 2020 and 25% the previous quarter; 682,042 oz in YTD 2021, 3% increase from YTD 2020
Q2 2021 UNIT COSTS BEAT FY 2021 GUIDANCE
Q2 2021 op. cash costs(1) of $431/oz sold, AISC(1) of $780/oz vs FY 2021 guidance of 450 – $475/oz and $790 – $810/oz, respectively
ON TRACK TO ACHIEVE FY 2021 GUIDANCE
Company now targeting top half of FY production guidance (1,300,000 – 1,400,000 oz), maintains unit cost and capital expenditure guidance
STRONG CASH FLOW GENERATION IN Q2 2021
Op. cash flow of $330.6M, up 49% and 59% from Q2 2020 and Q1 2021; Free cash flow(1) of $131.2M, up 39% from Q2 2020, triple Q1 2021 level
RETURNED $158.6M TO SHAREHOLDERS
Paid $100.3M in dividends in YTD 2021, used $58.3M to repurchase 1,374,100 shares
CONTINUED EXPLORATION SUCCESS
Continued drilling success in Saddle Zone at Detour Lake; New results at Macassa expand mineralization in multiple areas
EXCELLENT PROGRESS WITH GROWTH PROJECTS
Macassa #4 Shaft remains ahead of schedule; growth projects at Detour Lake advancing on plan
PROGRESS WITH ESG INITIATIVES
Significant financial commitments made in support of local communities, further progress achieved towards goal of net-zero emissions by 2050 or earlier
SUMMARY OF PERFORMANCE
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-Record-Net-Earnings-in-Q2-2021/default.aspx
https://www.kl.gold/home/default.aspx
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.kl.gold/home/default.aspx
Cautionary Note Regarding Forward-Looking Information
https://www.kl.gold/news-and-media/default.aspx
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-New-Wide-High-Grade-Intersections-at-Detour-Lake/default.aspx
LATEST PRESENTATION
https://www.kl.gold/home/default.aspx
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website www.kl.gold.
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884
E-mail: mutting@kl.gold
https://www.kl.gold/news-and-media/default.aspx
Primary Logo
Source: Kirkland Lake Gold Ltd
Ps.
Kirkland Lake Gold should buy MMY bargain producer of gold & silver -
$Monument Mining Limited (MMY.VN) -
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! smile)
https://www.barchart.com/stocks/quotes/MMY.VN/opinion
$Way undervalued and oversold - 5 bagger + + + + ? or more -
IMO!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161590519
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
$What is coming on for the H2 and 2021
Of course increase in production will drive the AISC cost down.
Example: in the Q4 2020
with a production of 369 434 and an AISC of $ 790
Just to say that the a 400 000 oz/quarter for the rest of the year and
2022 will bring the AISC dramatically down.Probably $ $ 725 to $ 750
quote=bossu]Excellent note from Tony:
«Both Detour Lake and Macassa are targeting further improvement in
average grades over the balance of the year. At June 30, 2021, all
three of our cornerstone assets were on track to achieve their full-
year 2021 production guidance, with Fosterville positioned to
potentially beat its guidance of 400,000 to 425,000 ounces."
-Production at Macassa was 997 t/d and this throughput has ''never''been
so high and Tony is already saying that grade should be better than the
Q2 so probably 21 gr/ and total production for the Q3 will be 92 000 t
for 61 000 oz
-At Detour with a 1 gr/ton would be
64000 t/d or 175 000 oz
-At Fosterville just an extra day of production (92) for 160 000 oz
Total for the Q3
--Macassa 61000
- Detour 175 000
--Fosterville 160 000
Total 396 000 oz Q2 379 195
Assuming Q4 396 000 same level
Total H2 792 000
Total H1 682 042
Year 2021 1 474 042
Guidance 1 300 000 to 1 400 000 oz
Guys, just to tell you now that Kirland is going to deliver another beat
for 2021.
Absolutely astonishing numbers and should the price of gold to stay at
the actual level or better $ 80 /sh is a possibility .
Cheers[/quote]
thanks Bossu
$Kirkland Lake Gold Reports Record Production In Second Quarter 2021
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-Record-Production-In-Second-Quarter-2021/default.aspx
TORONTO, July 12, 2021 (GLOBE NEWSWIRE) --
$Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today
announced record quarterly production for the second quarter of 2021
(“Q2 2021”) of 379,195 ounces,
a 15% increase from the second quarter of 2020 (“Q2 2020”) and
25% higher than the previous quarter,
with all three of the Company’s operations achieving increased
production from both prior periods.
For the first half of 2021 (“YTD 2021”),
production totalled 682,042 ounces,
a 3% increase from the first half of 2020 (“YTD 2020”),
reflecting higher production at Detour Lake and Macassa.
All dollar amounts are expressed in U.S. dollars, unless otherwise
noted.
Highlights of Q2 2021 Production Results
Production of 379,195 ounces, 15% increase from 329,770 ounces in Q2 2020 and 25% higher than 302,847 ounces the previous quarter (YTD 2021 production of 682,042 ounces compared to 660,634 ounces in YTD 2020)
Gold sales of 364,575 ounces at an average realized price(1) of $1,814 per ounce, with gold poured of 371,265 ounces
Fosterville: Production at Fosterville totalled 157,993 ounces compared to 155,106 ounces for the same period in 2020 and 108,679 ounces in Q1 2021 (YTD 2021 production of 266,672 ounces versus 314,970 ounces in YTD 2020)
Detour Lake: Record quarterly production of 165,880 ounces, 26% increase from 131,992 ounces in Q2 2020 and 13% higher than 146,731 ounces in Q1 2021 (YTD 2021 production of 312,611 ounces versus 223,547 ounces for five months in YTD 2020 after Detour Lake acquisition on January 31, 2020 (270,043 ounces for full YTD 2020))
Macassa: Production of 55,322 ounces, 32% higher than 41,865 ounce in Q2 2020 and 17% increase from 47,437 ounces in Q1 2021 (YTD 2021 production of 102,759 ounces, 11% increase from 92,726 ounces for YTD 2020).
Other Highlights of Q2 2021
Progress achieved towards key value-creation catalysts
Detour Lake: Achieved continued exploration success in support of future Mineral Reserve growth and further progress with key growth projects; New life-of-mine plan and technical report on track for first half of 2022
Macassa: #4 Shaft project remained over a month ahead of schedule, reaching approximately 5,600 feet at June 30, 2021, with project on track for completion in late 2022
Fosterville: New exploration drive completed with five drills deployed in June to test the down-plunge extension of the Swan Zone in the Lower Phoenix System; Twin exploration drive to Robbin’s Hill reached 5,548 m of advance as at June 30, 2021
Committed to returning capital to shareholders: Normal Course Issuer Bid renewed, Automatic Share Purchase Plan introduced; Returned $62 million ($50 million in dividends and $12 million to repurchase 300,000 shares)
Increased financial strength with cash of $855 million with no debt at June 30, 2021 versus $792.2 million at March 31, 2021; $98 million tax payment in Australia in Q2 2021 representing the final tax instalment for the 2020 tax year.
Tony Makuch, President and Chief Executive Officer of Kirkland Lake Gold, commented: “We generated record quarterly production in Q2 2021 and completed the first half of the year well positioned to achieve our full-year 2021 production guidance of 1,300,000 – 1,400,000 ounces, with our expectation now being to finish the year in the top half of the guidance range. The record production in Q2 2021 was largely driven by strong results at Fosterville, as well as higher levels of production at both Detour Lake and Macassa compared to both Q2 2020 and the previous quarter. Higher than planned production at Fosterville was mainly related to continued grade outperformance and changes in mine sequencing which resulted in an improved grade profile for the quarter. At Detour Lake, we achieved record production driven by increased mill throughput and a significant improvement in grade, with the average grade of 0.96 g/t in line with the current Mineral Reserve grade for the operation. Improved results at Macassa reflected increased processing rates, to an average of just under 1,000 tpd, as well as higher than expected grades. Both Detour Lake and Macassa are targeting further improvement in average grades over the balance of the year. At June 30, 2021, all three of our cornerstone assets were on track to achieve their full-year 2021 production guidance, with Fosterville positioned to potentially beat its guidance of 400,000 – 425,000 ounces.”
1) See “Non-IFRS Measures” beginning on page 26 of the Company’s MD&A for the three months ended March 31, 2021.
Q2 and YTD 2021 Production Results
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-Record-Production-In-Second-Quarter-2021/default.aspx
KL will go up to $150 and split 3 for 1 ? <)
Colloidal Gold: Discover the Benefits and Wonders
https://naturalsociety.com/health-benefits-of-colloidal-gold
“2013-08-06 · Colloidal gold has anti-inflammatory powers to
alleviate pain and swelling among those with arthritis and bursitis.
It has also shown promise for rejuvenating glandular systems to
provide anti-aging, higher IQ, and pineal gland
enhancing possibilities. “
$Kirkland Lake Gold Reports New Wide, High-Grade Intersections at Detour Lake
Results Highlight Significant Potential for Mineral Resource Growth
Between the Existing Main Pit and planned West Pit Location, at Depth
and to West
https://www.kl.gold/news-and-media/default.aspx
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.kl.gold/news-and-media/default.aspx
$KL NEWS Kirkland Lake Gold Reports New High-Grade Intersections at
Macassa Mine,
Extends Mineralization Along Strike and Up and
Down Dip of South Mine Complex
Download this Press ReleasePDF Format (opens in new window)
July 06, 2021
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-New-High-Grade-Intersections-at-Macassa-Mine-Extends-Mineralization-Along-Strike-and-Up-and-Down-Dip-of-South-Mine-Complex/default.aspx
$bigone thanks; Basel III to trigger 'liquidity squeeze,' gold price
could be looking at $2,100 by year-end - Goldex CE
Anna Golubova Anna Golubova
Tuesday June 22, 2021 15:53
Kitco NewsShare this article:
(Kitco News) The risk with Basel III is a major shift towards allocated
gold, which could trigger a liquidity squeeze in the physical metal and
lead to higher prices by the end of the year, according to
Sylvia Carrasco.
The impact of the Basel III agreement, which will come into force on
June 28, 2021, for European banks and on January 1, 2022, for British
banks, is being debated by many gold industry experts, with opinions
ranging from "everything will change" to "no impact at all."
Carrasco is in the camp that sees many people underestimate the impact
of Basel III on the gold market.
$"Basel III will affect the gold price more than many people believe. The
spot price will definitely go up," Carrasco told Kitco News.
Basel III is an internationally agreed-upon set of measures developed by
the Basel Committee on Banking Supervision in response to the financial
crisis of 2007-09. Many of the measures deal with bank capital
adequacy, stress testing, and market liquidity.
One of the biggest changes for gold is that the precious metal is being
reclassified from a Tier 3 asset, which is the riskiest asset class,
to a Tier 1 asset, which is currently designated for cash and
currencies. The change could make it more expensive to buy and sell
unallocated gold.
This is because Basel III includes the new Net Stable Funding Ratio (NSFR) requirement, which specifies that an 85% Required Stable Funding (RSF) needs to be held by banks against the financing and clearing of precious metals transactions. This is a big change from the pre-Basel III level of 0%, and it makes holding unallocated gold more expensive by equating it to the same level of risk as holding equities.
"Basel III requires banks or dealers to collateralize 85% of the value of their unallocated gold with a Tier 1 asset, which is cash," Carrasco said.
For example, if a bank has $1 billion in gold positions, with $300 million in allocated gold and the other $700 million in unallocated gold. Before Basel III, the bank didn't have to put any collaterals for those positions. But with Basel III, the $300 million positions in allocated gold are fine. But the $700 million positions in unallocated gold are now considered risky as equities and are put in the same risk category.
"Under Basel III, the bank would have to show that 85% of this $700 million is actually sitting on their balance sheet, and the bank is not touching it," Carrasco explained. "That has a tremendous cost of finance. The bullion banks need to find 85% of the nominal value of their unallocated gold position and fund it."
The risk here is that trading unallocated gold would become a money-
losing business.
"Banks cannot continue charging practically no fees on unallocated gold.
Could they have to increase their price by 100 times? Will clients be
interested in trading at those prices?" Carrasco asked.
"The risk is going to be a lot of banks shutting down because suddenly
it is a money-losing business.
That is Basel III in a nutshell."
Allocated vs. unallocated gold
https://www.kitco.com/news/2021-06-22/Basel-III-to-trigger-liquidity-squeeze-gold-price-could-be-looking-at-2-100-by-year-end-Goldex-CEO.html?sitetype=fullsite
$Kirkland Lake Gold Introduces Automatic Share Purchase Plan
Download this Press ReleasePDF Format (opens in new window)
https://www.kl.gold/news-and-media/default.aspx
$bigone thanks; Richest gold mines in Canada in Q1 2021 - report
Vladimir Basov Vladimir Basov
Friday June 18, 2021 12:34
Kitco NewsShare this article:
Editor's Note: With so much market volatility, stay on top of daily news!
Get caught up in minutes with our speedy summary of today's must-read
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(Kitco News) - The grade or concentration of a mineral or metal in ore
directly affects costs associated with mining as well as its subsequent
beneficiation and extraction of precious components.
Kitco ranked currently active gold operations in Canada based on gold
grade in a tonne of processed ore reported for Q1 2021.
Kitco looked at operations that are separate reporting units and which
have gold grade figures disclosed by the owners/operators.
$Kirkland Lake’s Macassa mine, located in the Municipality of Kirkland Lake, within Teck Township, District of Timiskaming, in the northeast of the province of Ontario, is the richest gold mine in Canada and one of the richest gold operations worldwide. The company reported an average processed grade of 19.8 g/t gold for Macassa in Q1 2021, which was virtually unchanged compared to the corresponding period of 2020.
The second richest Alamos Gold’ Island Gold mine is a high grade, low-cost
underground mining operation located just east of the town of
Dubreuilville, Ontario, Canada, 83km northeast of Wawa.
Underground grades processed averaged 13 g/t Au in the first quarter,
an 11% increase over Q1 2020 and above the Mineral Reserve grade.
Wesdome Gold’s Eagle River mine is third richest gold operation in Canada with 12.8 g/t gold reported in Q1 2021, which is below budget and 9% lower compared to Q1 2020 due to stope sequencing.
Located in the Kitikmeot District of Nunavut, Canada, approximately 125 kilometres southwest of Cambridge Bay, the Hope Bay mine, which is fourth richest gold mine in Canada, was acquired by Agnico Eagle in February 2021. Ore is currently being sourced from the high-grade BTD Zone, which shows potential for expansion.
SSR Mining’s Seabee is an underground gold mine located along the Trans-Hudson Corridor in east-central Saskatchewan, Canada. Seabee mill feed grade was 8.45 g/t gold during the first quarter of 2021, an 18% decrease compared to the first quarter of 2020, due to mining in lower productivity areas, as planned.
All richest gold mines in Canada are underground operations. The complete list is below.
Richest gold mines in Canada in Q1 2021
https://www.kitco.com/news/2021-06-18/Richest-gold-mines-in-Canada-in-Q1-2021-report.html
Kirkland Lake Gold Declares Quarterly Dividend Payment
TORONTO, June 17, 2021 (GLOBE NEWSWIRE) -
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “ Company ”) (TSX:KL)
(NYSE:KL) (ASX:KLA) today announced that a quarterly dividend
payment for the secon...
https://www.kl.gold/news-and-media/default.aspx
$bigone thanks; Kirkland Lake Gold Renews Normal Course Issuer Bid
TORONTO, June 07, 2021 (GLOBE NEWSWIRE) -
$Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “ Company ”) (TSX:KL) (NYSE:KL) (ASX:KLA) is pleased to announce that it has received acceptance from the...
https://www.kl.gold/news-and-media/default.aspx
$Kirkland Lake Gold’s Detour Lake on course to be a world-class gold mine, says CEO Tony Makuch
Kirkland Lake Gold's Detour Lake gold mine in Ontario. Credit: Kirkland Lake Gold.
https://www.northernminer.com/news/kirkland-lake-golds-detour-lake-on-course-to-be-a-world-class-gold-mine-says-ceo-tony-makuch/1003830886/
Kirkland Lake Gold (TSX: KL; NYSE: KL; ASX: KLA) plans to transform its Detour Lake mine in northern Ontario into one of the world’s largest and most profitable good mines, says Tony Makuch, the company’s president and CEO.
There is a much larger and higher-grade deposit at Detour Lake than is reflected in the project’s current mineral resource, he said in an interview. “We see significant growth potential in the project’s mineral endowment, which, combined with a new mining plan, will lead to a significant increase in production and improved unit costs compared with the past operation of the mine.”
At the end of March, a technical report for Detour Lake outlined a new life-of-mine plan that envisages production increasing from 563,253 oz. of gold in 2020 to between 680,000 oz. and 720,000 oz. from 2021-2024, growing to 800,000 oz. in 2025, and reaching over 900,000 oz. in 2032 for an average annual production of 659,000 gold oz. over 22 years of mine life.
The life-of-mine 2021 study estimated operating costs per oz. of gold to average US$619 per oz. over the life of the mine, lower than the US$625 per oz. in 2020, with all-in sustaining costs averaging US$821 per oz., a significant improvement over 2020, which averaged US$1,171 per ounce.
Kirkland Lake Gold president and CEO Tony Makuch
Total capital expenditure runs to US$3.6 billion, which includes US$65 to US$75 million for a mill expansion capable of processing 28 million tonnes per year, up from 22.2 million tonnes last year, additional leach pads to improve metallurgical recovery, and a tailings facility expansion. The after-tax net present value is estimated at US$3.8 billion, based on a gold price of US$1,500 per oz. and using a 5% discount rate.
The new mine-of-life plan is based on a mineral resource estimate of 107.7 million measured and indicated tonnes grading 1.15 grams gold per tonne for 4 million gold oz. and 31.8 million inferred tonnes of 0.82 gram gold for 844,000 ounces.
The current life-of-mine plan does not include the exploration success the company has achieved since acquiring the project in early 2020. These will be incorporated into an updated mine plan slated for release next year.
“One of the key factors behind our decision to acquire the mine was the significant exploration upside we saw in the project, which should further increase production, lower unit costs, and transition it to a much larger pit design than presented in the March report,” said Makuch, who has over 35 years of management, operations, and technical experience in the mining industry. Immediately before taking up the reins at Kirkland Lake, he served as president and CEO of Lake Shore Gold from 2008 until Tahoe Resources acquired the company in 2016.
He added that the expected production growth would be driven by higher mill throughput and mining rates, lower strip ratios, better fragmentation, and improved mill productivity.
Kirkland Lake acquired the Detour Lake mine, about 300 km northeast of Timmins, in January 2020 through an all-share acquisition of Detour Gold Corp. in a deal valued at US$3.7 billion.
Detour Gold owned the mine between 2013 and 2020, producing 3.6 million oz. of gold from approximately 135.5 million tonnes of mineralized material at a grade of 0.9 gram gold per tonne. Before that, Placer Dome Inc. operated the mine as an open-pit and underground operation, producing a total of 1.8 million oz. of gold from 14.3 million tonnes of mineralized material grading 3.82 grams gold between 1983 and 1989.
Since acquiring the mine, Kirkland Lake has conducted an extensive drilling campaign to identify extensions to the mineralisation.
A key focus for the exploration program has been to drill around and near the Detour Lake Main pit.
Drilling in the central portion of the Saddle zone, an underexplored area between the Main pit and the West pit, about 1 km west of the Main pit, intersected broad zones of both shallow and deeper mineralisation. Highlights included drillhole DLM-20-006, which intersected 17 metres grading 1.56 grams gold per tonne from 56 metres downhole, and hole DLM-20-079BW, which cut 13 metres grading 9.02 grams starting from a depth of 509 metres.
Kirkland Lake Gold’s Detour Lake gold mine in Ontario. Credit: Kirkland Lake Gold.
The drill results “confirmed a large, continuous corridor of mineralization that extends from the Main Pit through the Saddle Zone and continues beyond the planned West Pit location,” said Makuch.
A nine-hole (2,796 metre) drill program on the 58 North zone, a satellite deposit 10 km south of the mine, was designed to infill the west portion of the current mineral resource area. Highlights included drillhole DLD-20-504, which returned 5 metres of 14.6 grams gold from 214 metres.
Drilling on an area about one km northwest of the Main Pit, called the North Pit, intersected significant open-pit grades, extending known mineralization to depth and along strike of the current mineral resource area, with hole DLM-20-003 returning 9 metres grading 1.1 grams gold from 274 metres and hole DLM20-001 cutting 3.4 metres of 147 grams gold from 394.6 metres.
Given the limited amount of drilling to date in the Saddle, 58 North, and North Pit areas, Makuch believes there is considerable potential to add new mineral resources through “aggressive drilling.”
“Our exploration has demonstrated that we’re yet to determine the full extent of the mineralisation at the project, which has the potential to support a 30-million-plus ounce mineral reserve base,” he said.
While acknowledging that the technical report released in March was an important milestone for the project, he noted that the company was confident that its drill campaign would add substantially more ounces to the project’s mineral endowment and “establish Detour Lake as one of the world’s top gold mines.”
Kirkland Lake plans to release an updated mine plan for the project in 2022 that incorporates drill results from the 2020 and 2021 drilling campaigns. The updated mine plan, said Makuch, will likely see the project transition to a much larger pit design as the mineral resource grows, leading to further increases in production and better unit costs.
This year, the company plans to complete 270,000 metres of drilling to expand mineralisation to the west of the West pit and follow up on key targets, including 58 North and North Pit. Twelve drill rigs are now turning on the project.
The open pit at Kirkland Lake Gold’s Detour Lake gold mine in Ontario. Credit: Kirkland Lake Gold.
It is also working with Rogers Communications, a Canadian telecommunications and media company, to erect several cell towers onsite to improve connectivity across the region. Powered by wind and solar energy and backup hydrogen generators, the towers will also include a first aid station as well as providing shelter.
Kirkland has around US$800 million in the treasury to fund these activities, said Makuch, adding that the company has no debt. “We have a strong balance sheet and are well funded to support our work program.”
The company’s other gold assets in Ontario include the Macassa underground mine, which, in 2020, produced 183,038 oz. of gold, and the Holt Complex, which comprises the Holt, Holloway, and Taylor mines. In April 2020, operations at the complex were suspended as part of Kirkland Lake’s Covid-19 protocols.
Outside Canada, it owns the Fosterville underground gold mine in Australia, one of the largest gold producers in the state of Victoria. In 2020, the mine produced 640,467 oz. of gold.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.kl.gold/home/default.aspx
Cautionary Note Regarding Forward-Looking Information
https://www.kl.gold/news-and-media/default.aspx
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-New-Wide-High-Grade-Intersections-at-Detour-Lake/default.aspx
LATEST PRESENTATION
https://www.kl.gold/home/default.aspx
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website www.kl.gold.
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884
E-mail: mutting@kl.gold
https://www.kl.gold/news-and-media/default.aspx
Primary Logo
Source: Kirkland Lake Gold Ltd
Ps.
Kirkland Lake Gold should buy MMY bargain producer of gold & silver -
$Monument Mining Limited (MMY.VN) -
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! smile)
https://www.barchart.com/stocks/quotes/MMY.VN/opinion
$Way undervalued and oversold - 5 bagger + + + + ? or more -
IMO!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161590519
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
$Kirkland Lake Gold Reports Record Production In Second Quarter 2021
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-Record-Production-In-Second-Quarter-2021/default.aspx
TORONTO, July 12, 2021 (GLOBE NEWSWIRE) --
$Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today
announced record quarterly production for the second quarter of 2021
(“Q2 2021”) of 379,195 ounces,
a 15% increase from the second quarter of 2020 (“Q2 2020”) and
25% higher than the previous quarter,
with all three of the Company’s operations achieving increased
production from both prior periods.
For the first half of 2021 (“YTD 2021”),
production totalled 682,042 ounces,
a 3% increase from the first half of 2020 (“YTD 2020”),
reflecting higher production at Detour Lake and Macassa.
All dollar amounts are expressed in U.S. dollars, unless otherwise
noted.
Highlights of Q2 2021 Production Results
Production of 379,195 ounces, 15% increase from 329,770 ounces in Q2 2020 and 25% higher than 302,847 ounces the previous quarter (YTD 2021 production of 682,042 ounces compared to 660,634 ounces in YTD 2020)
Gold sales of 364,575 ounces at an average realized price(1) of $1,814 per ounce, with gold poured of 371,265 ounces
Fosterville: Production at Fosterville totalled 157,993 ounces compared to 155,106 ounces for the same period in 2020 and 108,679 ounces in Q1 2021 (YTD 2021 production of 266,672 ounces versus 314,970 ounces in YTD 2020)
Detour Lake: Record quarterly production of 165,880 ounces, 26% increase from 131,992 ounces in Q2 2020 and 13% higher than 146,731 ounces in Q1 2021 (YTD 2021 production of 312,611 ounces versus 223,547 ounces for five months in YTD 2020 after Detour Lake acquisition on January 31, 2020 (270,043 ounces for full YTD 2020))
Macassa: Production of 55,322 ounces, 32% higher than 41,865 ounce in Q2 2020 and 17% increase from 47,437 ounces in Q1 2021 (YTD 2021 production of 102,759 ounces, 11% increase from 92,726 ounces for YTD 2020).
Other Highlights of Q2 2021
Progress achieved towards key value-creation catalysts
Detour Lake: Achieved continued exploration success in support of future Mineral Reserve growth and further progress with key growth projects; New life-of-mine plan and technical report on track for first half of 2022
Macassa: #4 Shaft project remained over a month ahead of schedule, reaching approximately 5,600 feet at June 30, 2021, with project on track for completion in late 2022
Fosterville: New exploration drive completed with five drills deployed in June to test the down-plunge extension of the Swan Zone in the Lower Phoenix System; Twin exploration drive to Robbin’s Hill reached 5,548 m of advance as at June 30, 2021
Committed to returning capital to shareholders: Normal Course Issuer Bid renewed, Automatic Share Purchase Plan introduced; Returned $62 million ($50 million in dividends and $12 million to repurchase 300,000 shares)
Increased financial strength with cash of $855 million with no debt at June 30, 2021 versus $792.2 million at March 31, 2021; $98 million tax payment in Australia in Q2 2021 representing the final tax instalment for the 2020 tax year.
Tony Makuch, President and Chief Executive Officer of Kirkland Lake Gold, commented: “We generated record quarterly production in Q2 2021 and completed the first half of the year well positioned to achieve our full-year 2021 production guidance of 1,300,000 – 1,400,000 ounces, with our expectation now being to finish the year in the top half of the guidance range. The record production in Q2 2021 was largely driven by strong results at Fosterville, as well as higher levels of production at both Detour Lake and Macassa compared to both Q2 2020 and the previous quarter. Higher than planned production at Fosterville was mainly related to continued grade outperformance and changes in mine sequencing which resulted in an improved grade profile for the quarter. At Detour Lake, we achieved record production driven by increased mill throughput and a significant improvement in grade, with the average grade of 0.96 g/t in line with the current Mineral Reserve grade for the operation. Improved results at Macassa reflected increased processing rates, to an average of just under 1,000 tpd, as well as higher than expected grades. Both Detour Lake and Macassa are targeting further improvement in average grades over the balance of the year. At June 30, 2021, all three of our cornerstone assets were on track to achieve their full-year 2021 production guidance, with Fosterville positioned to potentially beat its guidance of 400,000 – 425,000 ounces.”
1) See “Non-IFRS Measures” beginning on page 26 of the Company’s MD&A for the three months ended March 31, 2021.
Q2 and YTD 2021 Production Results
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-Record-Production-In-Second-Quarter-2021/default.aspx
KL will go up to $150 and split 3 for 1 ? <)
Colloidal Gold: Discover the Benefits and Wonders
https://naturalsociety.com/health-benefits-of-colloidal-gold
“2013-08-06 · Colloidal gold has anti-inflammatory powers to
alleviate pain and swelling among those with arthritis and bursitis.
It has also shown promise for rejuvenating glandular systems to
provide anti-aging, higher IQ, and pineal gland
enhancing possibilities. “
$Kirkland Lake Gold Reports New Wide, High-Grade Intersections at Detour Lake
Results Highlight Significant Potential for Mineral Resource Growth
Between the Existing Main Pit and planned West Pit Location, at Depth
and to West
https://www.kl.gold/news-and-media/default.aspx
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.kl.gold/news-and-media/default.aspx
$KL NEWS Kirkland Lake Gold Reports New High-Grade Intersections at
Macassa Mine,
Extends Mineralization Along Strike and Up and
Down Dip of South Mine Complex
Download this Press ReleasePDF Format (opens in new window)
July 06, 2021
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-New-High-Grade-Intersections-at-Macassa-Mine-Extends-Mineralization-Along-Strike-and-Up-and-Down-Dip-of-South-Mine-Complex/default.aspx
$bigone thanks; Basel III to trigger 'liquidity squeeze,' gold price
could be looking at $2,100 by year-end - Goldex CE
Anna Golubova Anna Golubova
Tuesday June 22, 2021 15:53
Kitco NewsShare this article:
(Kitco News) The risk with Basel III is a major shift towards allocated
gold, which could trigger a liquidity squeeze in the physical metal and
lead to higher prices by the end of the year, according to
Sylvia Carrasco.
The impact of the Basel III agreement, which will come into force on
June 28, 2021, for European banks and on January 1, 2022, for British
banks, is being debated by many gold industry experts, with opinions
ranging from "everything will change" to "no impact at all."
Carrasco is in the camp that sees many people underestimate the impact
of Basel III on the gold market.
$"Basel III will affect the gold price more than many people believe. The
spot price will definitely go up," Carrasco told Kitco News.
Basel III is an internationally agreed-upon set of measures developed by
the Basel Committee on Banking Supervision in response to the financial
crisis of 2007-09. Many of the measures deal with bank capital
adequacy, stress testing, and market liquidity.
One of the biggest changes for gold is that the precious metal is being
reclassified from a Tier 3 asset, which is the riskiest asset class,
to a Tier 1 asset, which is currently designated for cash and
currencies. The change could make it more expensive to buy and sell
unallocated gold.
This is because Basel III includes the new Net Stable Funding Ratio (NSFR) requirement, which specifies that an 85% Required Stable Funding (RSF) needs to be held by banks against the financing and clearing of precious metals transactions. This is a big change from the pre-Basel III level of 0%, and it makes holding unallocated gold more expensive by equating it to the same level of risk as holding equities.
"Basel III requires banks or dealers to collateralize 85% of the value of their unallocated gold with a Tier 1 asset, which is cash," Carrasco said.
For example, if a bank has $1 billion in gold positions, with $300 million in allocated gold and the other $700 million in unallocated gold. Before Basel III, the bank didn't have to put any collaterals for those positions. But with Basel III, the $300 million positions in allocated gold are fine. But the $700 million positions in unallocated gold are now considered risky as equities and are put in the same risk category.
"Under Basel III, the bank would have to show that 85% of this $700 million is actually sitting on their balance sheet, and the bank is not touching it," Carrasco explained. "That has a tremendous cost of finance. The bullion banks need to find 85% of the nominal value of their unallocated gold position and fund it."
The risk here is that trading unallocated gold would become a money-
losing business.
"Banks cannot continue charging practically no fees on unallocated gold.
Could they have to increase their price by 100 times? Will clients be
interested in trading at those prices?" Carrasco asked.
"The risk is going to be a lot of banks shutting down because suddenly
it is a money-losing business.
That is Basel III in a nutshell."
Allocated vs. unallocated gold
https://www.kitco.com/news/2021-06-22/Basel-III-to-trigger-liquidity-squeeze-gold-price-could-be-looking-at-2-100-by-year-end-Goldex-CEO.html?sitetype=fullsite
$Kirkland Lake Gold Introduces Automatic Share Purchase Plan
Download this Press ReleasePDF Format (opens in new window)
https://www.kl.gold/news-and-media/default.aspx
$bigone thanks; Richest gold mines in Canada in Q1 2021 - report
Vladimir Basov Vladimir Basov
Friday June 18, 2021 12:34
Kitco NewsShare this article:
Editor's Note: With so much market volatility, stay on top of daily news!
Get caught up in minutes with our speedy summary of today's must-read
news and expert opinions.
(Kitco News) - The grade or concentration of a mineral or metal in ore
directly affects costs associated with mining as well as its subsequent
beneficiation and extraction of precious components.
Kitco ranked currently active gold operations in Canada based on gold
grade in a tonne of processed ore reported for Q1 2021.
Kitco looked at operations that are separate reporting units and which
have gold grade figures disclosed by the owners/operators.
$Kirkland Lake’s Macassa mine, located in the Municipality of Kirkland Lake, within Teck Township, District of Timiskaming, in the northeast of the province of Ontario, is the richest gold mine in Canada and one of the richest gold operations worldwide. The company reported an average processed grade of 19.8 g/t gold for Macassa in Q1 2021, which was virtually unchanged compared to the corresponding period of 2020.
The second richest Alamos Gold’ Island Gold mine is a high grade, low-cost
underground mining operation located just east of the town of
Dubreuilville, Ontario, Canada, 83km northeast of Wawa.
Underground grades processed averaged 13 g/t Au in the first quarter,
an 11% increase over Q1 2020 and above the Mineral Reserve grade.
Wesdome Gold’s Eagle River mine is third richest gold operation in Canada with 12.8 g/t gold reported in Q1 2021, which is below budget and 9% lower compared to Q1 2020 due to stope sequencing.
Located in the Kitikmeot District of Nunavut, Canada, approximately 125 kilometres southwest of Cambridge Bay, the Hope Bay mine, which is fourth richest gold mine in Canada, was acquired by Agnico Eagle in February 2021. Ore is currently being sourced from the high-grade BTD Zone, which shows potential for expansion.
SSR Mining’s Seabee is an underground gold mine located along the Trans-Hudson Corridor in east-central Saskatchewan, Canada. Seabee mill feed grade was 8.45 g/t gold during the first quarter of 2021, an 18% decrease compared to the first quarter of 2020, due to mining in lower productivity areas, as planned.
All richest gold mines in Canada are underground operations. The complete list is below.
Richest gold mines in Canada in Q1 2021
https://www.kitco.com/news/2021-06-18/Richest-gold-mines-in-Canada-in-Q1-2021-report.html
Kirkland Lake Gold Declares Quarterly Dividend Payment
TORONTO, June 17, 2021 (GLOBE NEWSWIRE) -
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “ Company ”) (TSX:KL)
(NYSE:KL) (ASX:KLA) today announced that a quarterly dividend
payment for the secon...
https://www.kl.gold/news-and-media/default.aspx
$bigone thanks; Kirkland Lake Gold Renews Normal Course Issuer Bid
TORONTO, June 07, 2021 (GLOBE NEWSWIRE) -
$Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “ Company ”) (TSX:KL) (NYSE:KL) (ASX:KLA) is pleased to announce that it has received acceptance from the...
https://www.kl.gold/news-and-media/default.aspx
$Kirkland Lake Gold’s Detour Lake on course to be a world-class gold mine, says CEO Tony Makuch
Kirkland Lake Gold's Detour Lake gold mine in Ontario. Credit: Kirkland Lake Gold.
https://www.northernminer.com/news/kirkland-lake-golds-detour-lake-on-course-to-be-a-world-class-gold-mine-says-ceo-tony-makuch/1003830886/
Kirkland Lake Gold (TSX: KL; NYSE: KL; ASX: KLA) plans to transform its Detour Lake mine in northern Ontario into one of the world’s largest and most profitable good mines, says Tony Makuch, the company’s president and CEO.
There is a much larger and higher-grade deposit at Detour Lake than is reflected in the project’s current mineral resource, he said in an interview. “We see significant growth potential in the project’s mineral endowment, which, combined with a new mining plan, will lead to a significant increase in production and improved unit costs compared with the past operation of the mine.”
At the end of March, a technical report for Detour Lake outlined a new life-of-mine plan that envisages production increasing from 563,253 oz. of gold in 2020 to between 680,000 oz. and 720,000 oz. from 2021-2024, growing to 800,000 oz. in 2025, and reaching over 900,000 oz. in 2032 for an average annual production of 659,000 gold oz. over 22 years of mine life.
The life-of-mine 2021 study estimated operating costs per oz. of gold to average US$619 per oz. over the life of the mine, lower than the US$625 per oz. in 2020, with all-in sustaining costs averaging US$821 per oz., a significant improvement over 2020, which averaged US$1,171 per ounce.
Kirkland Lake Gold president and CEO Tony Makuch
Total capital expenditure runs to US$3.6 billion, which includes US$65 to US$75 million for a mill expansion capable of processing 28 million tonnes per year, up from 22.2 million tonnes last year, additional leach pads to improve metallurgical recovery, and a tailings facility expansion. The after-tax net present value is estimated at US$3.8 billion, based on a gold price of US$1,500 per oz. and using a 5% discount rate.
The new mine-of-life plan is based on a mineral resource estimate of 107.7 million measured and indicated tonnes grading 1.15 grams gold per tonne for 4 million gold oz. and 31.8 million inferred tonnes of 0.82 gram gold for 844,000 ounces.
The current life-of-mine plan does not include the exploration success the company has achieved since acquiring the project in early 2020. These will be incorporated into an updated mine plan slated for release next year.
“One of the key factors behind our decision to acquire the mine was the significant exploration upside we saw in the project, which should further increase production, lower unit costs, and transition it to a much larger pit design than presented in the March report,” said Makuch, who has over 35 years of management, operations, and technical experience in the mining industry. Immediately before taking up the reins at Kirkland Lake, he served as president and CEO of Lake Shore Gold from 2008 until Tahoe Resources acquired the company in 2016.
He added that the expected production growth would be driven by higher mill throughput and mining rates, lower strip ratios, better fragmentation, and improved mill productivity.
Kirkland Lake acquired the Detour Lake mine, about 300 km northeast of Timmins, in January 2020 through an all-share acquisition of Detour Gold Corp. in a deal valued at US$3.7 billion.
Detour Gold owned the mine between 2013 and 2020, producing 3.6 million oz. of gold from approximately 135.5 million tonnes of mineralized material at a grade of 0.9 gram gold per tonne. Before that, Placer Dome Inc. operated the mine as an open-pit and underground operation, producing a total of 1.8 million oz. of gold from 14.3 million tonnes of mineralized material grading 3.82 grams gold between 1983 and 1989.
Since acquiring the mine, Kirkland Lake has conducted an extensive drilling campaign to identify extensions to the mineralisation.
A key focus for the exploration program has been to drill around and near the Detour Lake Main pit.
Drilling in the central portion of the Saddle zone, an underexplored area between the Main pit and the West pit, about 1 km west of the Main pit, intersected broad zones of both shallow and deeper mineralisation. Highlights included drillhole DLM-20-006, which intersected 17 metres grading 1.56 grams gold per tonne from 56 metres downhole, and hole DLM-20-079BW, which cut 13 metres grading 9.02 grams starting from a depth of 509 metres.
Kirkland Lake Gold’s Detour Lake gold mine in Ontario. Credit: Kirkland Lake Gold.
The drill results “confirmed a large, continuous corridor of mineralization that extends from the Main Pit through the Saddle Zone and continues beyond the planned West Pit location,” said Makuch.
A nine-hole (2,796 metre) drill program on the 58 North zone, a satellite deposit 10 km south of the mine, was designed to infill the west portion of the current mineral resource area. Highlights included drillhole DLD-20-504, which returned 5 metres of 14.6 grams gold from 214 metres.
Drilling on an area about one km northwest of the Main Pit, called the North Pit, intersected significant open-pit grades, extending known mineralization to depth and along strike of the current mineral resource area, with hole DLM-20-003 returning 9 metres grading 1.1 grams gold from 274 metres and hole DLM20-001 cutting 3.4 metres of 147 grams gold from 394.6 metres.
Given the limited amount of drilling to date in the Saddle, 58 North, and North Pit areas, Makuch believes there is considerable potential to add new mineral resources through “aggressive drilling.”
“Our exploration has demonstrated that we’re yet to determine the full extent of the mineralisation at the project, which has the potential to support a 30-million-plus ounce mineral reserve base,” he said.
While acknowledging that the technical report released in March was an important milestone for the project, he noted that the company was confident that its drill campaign would add substantially more ounces to the project’s mineral endowment and “establish Detour Lake as one of the world’s top gold mines.”
Kirkland Lake plans to release an updated mine plan for the project in 2022 that incorporates drill results from the 2020 and 2021 drilling campaigns. The updated mine plan, said Makuch, will likely see the project transition to a much larger pit design as the mineral resource grows, leading to further increases in production and better unit costs.
This year, the company plans to complete 270,000 metres of drilling to expand mineralisation to the west of the West pit and follow up on key targets, including 58 North and North Pit. Twelve drill rigs are now turning on the project.
The open pit at Kirkland Lake Gold’s Detour Lake gold mine in Ontario. Credit: Kirkland Lake Gold.
It is also working with Rogers Communications, a Canadian telecommunications and media company, to erect several cell towers onsite to improve connectivity across the region. Powered by wind and solar energy and backup hydrogen generators, the towers will also include a first aid station as well as providing shelter.
Kirkland has around US$800 million in the treasury to fund these activities, said Makuch, adding that the company has no debt. “We have a strong balance sheet and are well funded to support our work program.”
The company’s other gold assets in Ontario include the Macassa underground mine, which, in 2020, produced 183,038 oz. of gold, and the Holt Complex, which comprises the Holt, Holloway, and Taylor mines. In April 2020, operations at the complex were suspended as part of Kirkland Lake’s Covid-19 protocols.
Outside Canada, it owns the Fosterville underground gold mine in Australia, one of the largest gold producers in the state of Victoria. In 2020, the mine produced 640,467 oz. of gold.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website
https://www.kl.gold/home/default.aspx
Cautionary Note Regarding Forward-Looking Information
https://www.kl.gold/news-and-media/default.aspx
https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-New-Wide-High-Grade-Intersections-at-Detour-Lake/default.aspx
LATEST PRESENTATION
https://www.kl.gold/home/default.aspx
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website www.kl.gold.
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884
E-mail: mutting@kl.gold
https://www.kl.gold/news-and-media/default.aspx
Primary Logo
Source: Kirkland Lake Gold Ltd
Ps.
Kirkland Lake Gold should buy MMY bargain producer of gold & silver -
$Monument Mining Limited (MMY.VN) -
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! smile)
https://www.barchart.com/stocks/quotes/MMY.VN/opinion
$Way undervalued and oversold - 5 bagger + + + + ? or more -
IMO!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161590519
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
bigone thanks; Nick Fleming RVGCR Intel Update 7-11-21
2,093 viewsPremiered 39 minutes ago
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