Kirkland Lake produces record gold
9TH JANUARY 2019
BY: ESMARIE IANNUCCI
CREAMER MEDIA SENIOR DEPUTY EDITOR: AUSTRALASIA
PERTH (miningweekly.com) – ASX-, TSX- and NYSE-listed Kirkland Lake Gold
has reported record quarterly and annual gold production for the
quarter and full-year ended December.
The miner reported fourth quarter production of 230 993 oz, up 28% on
its previous record of 180 155 oz, while full year production reached
723 477 oz, up 21% on the 596 495 oz produced in 2017.
The company told shareholders on Wednesday that both the Fosterville and
Macassa operations had produced record production in the December
quarter, while annual production records were also set at the two
mines, and at the Taylor mine.
“2018 was an outstanding year for Kirkland Lake Gold.
We achieved record production and just as important, embarked on a
programme of growth that could see the company achieve a million ounces
of annual, low-cost gold production as early as 2021,”
said Kirkland Lake president and CEO Tony Makuch. “A key part of our progress has been the continued transformation of
Fosterville into one of the world’s greatest gold mining operations. As clearly demonstrated in the fourth quarter, we continue to see much
greater levels of high-grade quarts-veins with visible gold at
Fosterville than had previously been estimated, which was the main
driver for the mine’s substantial outperformance during the quarter,
and is a key reason why we expect a significant increase
in Swan Zone mineral reserves.”
Makuch noted that at the Macassa operation, grade performance in the
South mine complex had been excellent, with the project poised for
further increases in production once the new shaft is completed.
“Entering 2019, we are well positioned for continued growth, with three-
year production guidance including 740 000 oz to 800 000 oz in 2019,
850 000 oz to 910 000 oz in 2020, and 945 000 oz to one-million ounces
EDITED BY: CREAMER MEDIA REPORTER
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