Loading ...Kirkland Lake Gold’s Aussie operation breaks production record
Kirkland Lake Gold (TSX, NYSE:KL; ASX:KLA) announced that its Fosterville Mine is expected to break its own record quarterly production in the fourth quarter of 2018. Full-year production is now forecasted at 330,000 ounces whereas previously reported guidance was established at 300,000-310,000 ounces.
In a press release, Kirkland Lake Gold said Fosterville’s strong Q4 2018 performance reflects higher than expected grades and the advancement of two additional stopes from the high-grade Swan Zone into the mine’s Q4 2018 production plan.
Fosterville is located near Bendigo in Australia’s southeastern Victoria state. It is a high-grade, low-cost underground gold mine that started operations in 2005. Mineral reserves have been estimated in 1.70 million ounces at an average grade of 23.1 g/t Au, including 1.16 million ounces of mineral reserves in the Swan Zone at an average grade of 61.2 g/t Au.
Kirkland Lake Gold’s Aussie operation breaks production record