Kirkland Lake - CEO, Tony Makuch
CEO, Tony Makuch
Source: Engineering News
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  • Kirkland Lake Gold (KL) has released second-quarter production results for its Fosterville, Detour Lake, and Macassa operations
  • All three of the company’s operations achieved higher production results, including a 15 per cent increase compared to Q2 2020 and a 25 per cent increase compared to the previous quarter
  • Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia
  • Kirkland Lake Gold Ltd. (KL) is up 1.94 per cent, trading at $49.98 per share

Kirkland Lake Gold (KL) has released second-quarter production results for its Fosterville, Detour Lake, and Macassa operations.

All three of the company’s operations achieved higher production results, including a 15 per cent increase compared to Q2 2020 and a 25 per cent increase compared to the previous quarter.

At Detour Lake, the company continued to experience exploration success as it works toward future mineral reserve growth. A new life-of-mine plan and technical report are on track to be released in 2022.

Crews at Macassa continued to operate the #4 Shaft project over a month ahead of schedule, reaching approximately 5,600 feet in June. The project is on track to be completed in late 2022.

New exploration at the Fosterville Mine deployed five drills in June to test the down-plunge extension of the Swan Zone in the Lower Phoenix System.

Tony Makuch, president and CEO of Kirkland Lake Gold, commented on the results.

“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,” he remarked.

“Both Detour Lake and Macassa are targeting further improvement in average grades over the balance of the year,” he added.

The company reported gold sales of 364,575 ounces at an average realized price of $1,814 per ounce, with gold poured of 371,265 ounces in the second quarter.

Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia.

Kirkland Lake Gold Ltd. (KL) is up 1.94 per cent, trading at $49.98 per share as of 11:58 am ET.

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