Kirkland Lake Gold Reports Solid Production in First Quarter 2021
- Production of 302,847 ounces compared to 330,864 ounces in Q1 2020 and 369,434 ounces the previous quarter
- Gold poured of 303,149 ounces versus 326,933 ounces in Q1 2020 and 373,284 ounces in Q4 2020
- Gold sales totaling 308,029 ounces at an average realized price of $1,788 per ounce compared to gold sales of 344,586 ounces ($1,586 per ounce) in Q1 2020 and 371,009 ounces ($1,875 per ounce) in Q4 2020
- Detour Lake Mine (“Detour Lake”): Production totalled 146,731 ounces, above target levels and compared to 91,555 ounces in Q1 2020 for the two months after Detour Lake was acquired on January 31, 2020 (138,051 ounces for the full quarter) and 153,143 ounces in Q4 2020; Record first-quarter mill throughput of 5,701,704 tonnes was achieved in Q1 2021, with record daily throughput of 80,339 tonnes reported on March 24, 2021
- Fosterville: Production totalled 108,679 ounces compared to 159,864 ounces in Q1 2020 and 164,008 the previous quarter; Production in Q1 2021 exceeded target levels due mainly to grade outperformance in March
- Macassa Mine (“Macassa”): Production totalled 47,437 ounces versus 50,861 ounces for the same period in 2020 and 52,283 ounces in Q4 2020.
- Published 2021 Sustainability Report during Q1 2021, the first time the Company’s annual sustainability report has been published during the first quarter; The report includes increased disclosures on ESG topics and provides further inclusion of Sustainable Accounting Standards Board (“SASB”) disclosures and metrics for Metals and Mining (to view report: https://s23.q4cdn.com/685814098/files/doc_downloads/sustainability/2021/KLGold_2021-GSR.pdf)
- Continued exploration success at Detour Lake, including intersections in the Central Saddle Zone containing exceptional grades and widths that confirm the continuity of the mineralized corridor (800 metres along strike and 800 metres to depth) between the Main and West pits, as well as intersections to the west of the West Pit location that extend mineralization 300 metres west of current Mineral Reserves
- New NI 43-101 report, including 2021 life-of-plan (“2021 LOMP”), filed for Detour Lake
- Production of 680,000 – 720,000 ounces from 2021 – 2024, growing to 800,000 ounces in 2025 and reaching over 900,000 ounces in 2032
- Low unit costs – average operating cash costs of $524/ounce and AISC/ounce of $775 from 2021 – 20251
- Large Mineral Reserve providing 22-year production life
- Additional value upside with no new drilling reflected in 2021 LOMP; Considerable exploration success achieved to date to be included in new technical report and life-of-mine plan scheduled for 2022.
- Mineral Reserve estimates released with total Mineral Reserves at operating assets totalling 20,118,000 ounces as at December 31, 2020, after depletion of 1,451,000 ounces, a 3% increase from the previous year
- Macassa #4 Shaft over a month ahead of schedule reaching a depth of 5,000 feet as at March 31, 2021
- Continued strong financial position with cash at March 31, 2021 totalling $792 million with no debt; Change in cash from $847.6 million at December 31, 2020 reflects weighting of gold production in 2021 to second half of the year and timing of capital expenditures.
Source: https://www.kl.gold/news-and-media/default.aspx
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Based at the Canadian Operations Centre in Timmins, ON, we currently have an exciting opportunity for a Senior Mine Geologist to join our Geology team reporting to the Geology Superintendent.
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Based at the Detour Lake Mine site, we currently have an exciting opportunity for a Exploration Coordinator to join our Exploration team, reporting to the Exploration Superintendent.
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