Kirkland Lake Gold on Track
for Record Quarterly Production
Kirkland Lake Gold Ltd. (TSX: KL) (NYSE: KL) (ASX: KLA) says the company is on track for record quarterly production in the fourth quarter of 2018, with full-year 2018 production now expected to exceed 330,000 ounces versus current guidance of 300,000 – 310,000 ounces. Based on the improved outlook for Fosterville Mine, the Company now anticipates that full-year 2018 consolidated production will exceed the current target range of 655,000 – 670,000 ounces.
Tony Makuch, President and CEO, commented: “Fosterville is clearly firing on all cylinders heading towards the end of the year, with Q4 2018 production on track to easily beat the current production record of 90,618 ounces, achieved last quarter. We continue to see significant grade outperformance from stopes in both the Swan and Eagle zones. We have also benefited from higher than expected grades when processing development tonnes taken from around the Swan Zone and have been able to add two Swan stopes to the Q4 2018 production plan based on development metres completed.”
“The higher than expected grades from both development and run-of-mine production, along with the exceptionally high grades reported from recent drilling results, provide confirmation that the presence of high-grade quartz veins with visible gold is more prolific than estimated in the current block model. Higher than planned grades are leading to increased levels of production in 2018 and are expected to favourably impact production levels in both 2019 and 2020,” the CEO adds.
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a mid-tier gold producer with 2018 production targeted at over 670,000 ounces of gold from mines in Canada and Australia. The production profile of the Company is anchored by two high-grade, low-cost operations, including the Macassa Mine located in Northeastern 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 and operational expertise.
For further information on Kirkland Lake Gold, visit the website www.klgold.com.
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