Kirkland Lake Reports Record Quarterly Gold Output
Monday October 9, 2018 08:37
Kirkland Lake Gold Ltd. (TSX, NYSE: KL) reports record quarterly gold
production of 180,155 ounces during the third quarter.
This is a 30% increase from 139,091 ounces in the third quarter of 2017
and a 9% increase from 164,685 ounces in the second quarter of 2018.
The company says output exceeded its targets, driven by record
quarterly production from Fosterville of 90,618 ounces as well as from
Canadian operations, with Macassa, Holt and Taylor collectively
producing 89,537 ounces.
Company-wide production during the first nine months of 2018 totaled
492,484 ounces, with Kirkland saying it is positioned to achieve
improved full-year 2018 guidance of over 635,000 ounces.
“At Fosterville, we commissioned a second gravity circuit during Q3
2018 and saw an immediate spike in production, with the Fosterville
Mill processing over 18,000 ounces in the first week of the circuit’s
operation,” says Tony Makuch, president and chief executive officer.
“This spike can largely be attributed to the gravity circuit’s
effectiveness in recovering gold previously contained in the
recirculating load of the grinding circuit.
We also mined and processed our first Swan Zone stope during the
quarter, which contributed over 7,500 ounces of production at an
average grade of close to 40 g/t [grams per tonne], in line with target
levels.”
By Allen Sykora of Kitco News; asykora@kitco.com
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