Archive | Kirkland Lake

Book celebrates 100 years of Kirkland Lake – by Lindsay Kelly (Northern Ontario Business – September 11, 2019)

Mayors and reeves, renowned strongmen and multi-million-dollar lottery winners are among the cast of colourful characters in a newly published book celebrating the centennial of the Town of Kirkland Lake.

Authored by Bill Glover, Gold for a Mad Miner is an anthology of 18 stories celebrating the town’s history, quirks and legends, printed in time to coincide with the 100th anniversary of the town’s founding in 1919. Glover, who was born and raised in Kirkland Lake, said he’s always been interested in storytelling, and this marks the fifth book he’s written.

Though he’s retired now, he spent close to six decades in the mining industry, first working in Sudbury at Frood and Stobie mines, before establishing his own consultancy firm, which took him to Asia, Europe, South America, the U.S. and beyond. Continue Reading →

Excerpt from Murdered Midas: A Millionaire, His Gold Mine, and a Strange Death on an Island Paradise – by Charlotte Gray (September 11, 2019)

To order a copy of Murdered Midas: A Millionaire, His Gold Mine, and a Strange Death on an Island Paradise:

Charlotte Gray is one of Canada’s best-known writers of non-fiction, specializing in history and biography, and her books have been nominated for or won most major non-fiction literary prizes. Murdered Midas is her eleventh book, and her second study of a great gold rush. In 2010, she published Gold Diggers: Striking it Rich in the Klondike which was the basis for both a PBS documentary and a Discovery Channel mini-series. She lives in Ottawa and is an adjunct research professor at Carleton University and a Member of the Order of Canada.

Excerpt from Murdered Midas: A Millionaire, His Gold Mine, and a Strange Death on an Island Paradise 

Had Harry Oakes once again arrived too late for a big strike? In Toronto in the spring of 1911, the thirty-six-year-old stared at the geological charts and topographical maps in Ontario’s Department of Mines, noting the extensive grid of prospectors’ claims superimposed on the region north of North Bay, bang in the centre of the immense expanse of Canada.

On paper, Northern Ontario looked as though government surveyors had already outlined its features and its potential. By now, the provincial bureaucrats suggested, the land had been “tamed.” Oakes traced with his stubby, stained finger the settlements strewn across the grim monotony of forest, rock, water, and muskeg swamp.

The charts recorded only mining camps; the cartographers had ignored the numerous Indigenous communities, although their presence showed up in the Ojibwa or Cree names of several features, such as Lake Temagami. Most of the network of links connecting mining camps consisted of rough, winding trails, but there were also newly laid railway tracks, punctuated at regular intervals by stations. Continue Reading →

Sculptor helps gold mining town celebrate 100 years – by Marc Montgomery (Radio Canada International – July 8, 2019)

Radio Canada International

Northern Ontario’s history is tied to that of mining. It was back in 1919 that a rush for silver in the north led instead to a discovery of gold and a another sort of rush.

This led to the development of several mines and creation of the township of Teck, eventually renamed Kirkland Lake in 1972. Renowned bronze sculptor Tyler Fauvelle has created a lifesized recreation of a period prospector which has been placed near the Toburn mine, the first of several which once flourished, and are now gone.

“Although the artwork is a tribute to all of the Kirkland Lake Gold Camp prospectors, I did include some features representing some of Kirkland Lake’s legendary prospectors. I hope visitors will enjoy looking for those symbols, and learning about the local history behind them,” says Fauvelle. Continue Reading →

High-grade discoveries open “whole new chapter” at Kirkland Lake mine: Exploration drilling probes unexplored areas at Macassa’s South Mine Complex – by Staff (Northern Ontario Business – May 2, 2019)

Kirkland Lake’s Macassa Mine doesn’t appear to be relinquishing its status as one the world’s richest gold mines. Kirkland Lake Gold released some eye-popping high-grade drill intercepts from its ongoing underground exploration and expansion project within the South Mine Complex (SMC).

In an May 2 news release, the company highlighted the results from 73 drill holes and nearly 30,000 metres worth of drilling from the east and west exploration drifts on the mine’s 5300-foot and 5700-foot level.

Some of the high-grade intersections include 118.8 grams per tonne (g/t) over a 2.0 metre core length at SMC, and 4,772 g/t over a 2.0-metre length from an identified zone, west of the current resource. A 1.8-metre section from another hole yielded 2,458.6 g/t in the lower complex and to the east and at depth. Continue Reading →

Goal is to add 30-40 years of mine life at KL Gold with new shaft – by Ron Grech (Timmins Daily Press – March 21, 2019)

The president and chief executive officer of Kirkland Lake Gold presented an optimistic future for the Macassa Mine while speaking to an audience of business people in Timmins on Wednesday.

The president and chief executive officer of Kirkland Lake Gold presented an optimistic future for the Macassa Mine while speaking to an audience of business people in Timmins on Wednesday.

Tony Makuch was the guest speaker at an Inside Their Business luncheon hosted by the Timmins Chamber of Commerce at the Porcupine Dante Club. In January 2018, Kirkland Lake Gold announced plans to sink a new shaft at the Macassa Mine.

Makuch spoke of the Macassa Mine as a “success story” in which old assets have been revitalized and given new life. The shaft project added fuel to Makuch’s optimism. Continue Reading →

Kirkland Lake expects a million ounces in 2019 – by Staff ( – February 21, 2019)

Canada’s Kirkland Lake Gold (TSX. NYSE: KL) announced today that management increased its consolidated three-year production guidance and improved its unit-cost guidance for 2019.

In a press release, the miner explained that there is potential for a million ounces in 2019 as guidance was increased to 920,000 – 1,000,000 ounces from the previously announced 740,000 – 800,000 ounces.

For next year, Kirkland Lake said guidance would be 930,000 – 1,010,000 ounces and for 2021 995,000 – 1,055,000 ounces. Continue Reading →

A record year for Kirkland Lake Gold: Production, expansion at Macassa has northeast miner poised for growth in 2019 and beyond – by Staff (Northern Ontario Business – January 9, 2019)

Kirkland Lake Gold announced record levels of annual and quarterly production from its mines in northeastern Ontario and Australia. The Toronto-based global miner said total 2018 production at its three cornerstone mines was a record 723,477 ounces, up 21 per cent from the 596,405 ounces from the previous year.

Each of three achieved record annual production last year, including 356,230 ounces at Fosterville in Australia, 240,126 ounces at Macassa in Kirkland Lake, and 58,633 ounces at the Taylor Mine near Matheson.

The Holt Mine, also near Matheson, produced 67,770 ounces for the year. Total production in the fourth quarter of 2018 reached 230,993 ounces, 28 per cent higher than the previous record of 180,155 ounces achieved in the third quarter of last year. Continue Reading →

Sudbury sculptor working on mining project – by Joe O’Grady (Sudbury Star – August 5, 2018)

KIRKLAND LAKE – A $92,000 sculpture immortalizing Kirkland Lake’s mining heritage will be erected at the historic Toburn Mine site.

The Toburn Operating Authority, a not-for-profit organization in charge of the Toburn, has learned it will receive a $46,000 grant from the Department of Canadian Heritage to help fund the legacy project celebrating the Town of Kirkland Lake’s Centennial in 2019.

A Legacy committee led by Toburn vice chair Michael Sutton has been working closely with the Kirkland Lake 100th Anniversary Committee, with plans to erect a life-sized bronze sculpture of an early 20th century prospector with his faithful working dog by his side. Continue Reading →

Kirkland Lake stock surges on strong production forecast – by Niall McGee (Globe and Mail – August 2, 2018)

Shares in Kirkland Lake Gold Ltd. posted their biggest daily jump in almost four months after the mid-tier miner beat analyst expectations in the second quarter, boosted its production forecast and delivered promising drilling results.

Toronto-based Kirkland Lake earned a US$61.5-million net profit for the three months ended June 30, a 78-per-cent year-over year increase.

Production at the company’s high-grade Macassa mine in northern Ontario hit a record 60,500 ounces of gold in the quarter, thanks to higher grades and lower costs. Cash flow per share came in at 54 US cents, five cents better than the Street predicted. Meantime, Kirkland Lake’s cash position swelled by US$43-million to US$318-million. Continue Reading →

Kirkland Lake earnings hampered by concerns over sustainability of free cash flow – by Niall McGee (Globe and Mail – May 3, 2018)

Concern over the long term sustainability of free cash flow took the shine off an otherwise strong quarterly earnings report from Kirkland Lake Gold Inc., one of Canada’s best performing gold stocks.

On Wednesday, PI Financial Corp. analyst Phil Ker cut his rating to neutral from buy, on fears that hefty capital expenditure requirements at the intermediate mining company over the next few years could hinder free cash flow.

In the first quarter, Kirkland Lake beat estimates, reporting adjusted earnings per share of 25 cents, a penny better than consensus. On a net basis, the company posted a profit of $53.8-million, compared with $13.1-million in the same quarter in 2017. The miner also boosted its quarterly dividend to 3 cents a share from 2 cents, with free cash flow rising 30 per cent year-over-year to $50.2-million. Continue Reading →

Kirkland Lake Gold Reports Solid Earnings and Cash Flow in First Quarter 2018, Announces Dividend Increase (May 02, 2018)

TORONTO, May 02, 2018 (GLOBE NEWSWIRE) — Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced the Company’s financial and operating results for the first quarter of 2018 (“Q1 2018”). The Company’s full financial statements and management discussion & analysis are available on SEDAR at and on the Company’s website at

The Company also announced today an increase to its quarterly dividend to C$0.03 per share from C$0.02 per share, with the increase to commence with the second quarter 2018 (“Q2 2018”) dividend, payable in July 2018. All dollar amounts in this News Release are expressed in U.S. dollars, unless otherwise noted.

Key highlights of the Q1 2018 results include:

-Net earnings increase year over year to $53.8 million ($0.25/share) compared to $13.1 million ($0.06/share) in Q1 2017 and $41.0 million ($0.20/share) in Q4 2017. Adjusted net earnings1,3 totaled $52.6 million ($0.25/share) versus $17.5 million ($0.09/share) in Q1 2017 and $71.2 million ($0.34/share) in Q4 2017. Continue Reading →

Orefinders pick up former northeast gold mine – by Staff (Northern Ontario Business – April 4, 2018)

Gold explorer building stable of northeast properties with McGarry Mine acquisition

There’s new ownership coming for a former gold mine in the Kirkland Lake area. Toronto’s Orefinders Resources announced April 3 that it has entered into a definitive agreement with Kerr Mines (formerly Armistice Resources) to acquire the McGarry Mine and Barber-Larder properties.

Under the deal, Orefinders will issue 8 million common shares to Kerr. The shares are subject to a lock-up agreement with Kerr and are scheduled to be free trading over a two-year period.

The McGarry property is in Virginiatown, between Kirkland Lake and the Quebec border, and spans 2.4 kilometres on the Cadillac Larder Lake Break, considered one of the world’s most prolific gold structures. It’s located next to the Kerr-Addison Mine, which once produced more than 12 million ounces of gold over a 58-year period ending in 1996. Continue Reading →

The green future of Kirkland Lake gold – by Karen McKinley (Northern Ontario Business – January 23, 2018)

Pierre Rocque said Kirkland Lake Gold’s plans to be more sustainable are going strong. The vice-president of Canadian operations said among major changes, the company has moved towards having about 80 per cent of their underground operations at their mines battery-powered.

Rocque gave a light-hearted presentation at the monthly meeting of the Sudbury chapter of Canadian Institute of Mining, Metallurgy and Petroleum (CIM) on Jan. 18 at Dynamic Earth on a few updates on the mine, including the acquisition of Australian properties; progress at their properties in Kirkland Lake, including Taylor and Macassa mines; and the use of battery-powered equipment and biological means to extract gold.

“We’ve come a long way from a junior minor, to a mid-tier with properties around the world,” Rocque said. As a highlight, Rocque announced the company is well on its way to its underground operations being primarily battery-powered. Continue Reading →

New shaft key to transforming Kirkland Lake into 1Moz/y producer – by Mariaan Webb ( – January 18, 2018)

JOHANNESBURG ( – Gold miner Kirkland Lake has set its sights on producing one-million ounces a year in the next five to seven years, a target which is built on transforming the Fosterville and Macassa mines into 400 000 oz/y producers.

At Fosterville, in Australia’s state of Victoria, Kirkland Lake is aiming to achieve the 400 000 oz/y target by 2020, as it moves to full production at the Swan zone and starts production from additional mining fronts.

The path to 400 000 oz/y at the Macassa mine, in Ontario, Canada, will take longer and will involve sinking a new $320-million shaft in two phases. Continue Reading →