Massive exploration drilling at Detour Lake should lengthen mine’s longevity
Kirkland Lake Gold is sitting pretty to reach its 2020 gold production targets, thanks to a record second quarter.
In a July 12 news release, the Toronto gold miner said, collectively, its three operations at Macassa in Kirkland Lake; Detour Lake, north of Cochrane, and Fosterville in Australia, produced a total of 379,195 ounces, up 15 per cent from the same quarter last year and up 25 per cent from the first quarter this year.
Gold sales reached an average realized price of $1,814 per ounce. Up to the midway point of 2021, production totalled 682,042 ounces, a 3 per cent increase from the first half of 2020, reflecting higher production at Detour Lake and Macassa.
Macassa production for the quarter was 55,322 ounces, 32 per per cent from the same period last year and up 17 per cent from the first quarter of this year.
Construction continues of the No. 4 Shaft at Macassa. The company said the development in a month ahead of schedule, reaching a depth of 5,600 feet at the end of June. The project is on track to be completed by late 2022.
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