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“Our top priority is the health and well-being of our people, their families and our communities. We have taken numerous steps to protect people from COVID-19, including shutting down Holt Complex and substantially reducing operations at Detour Lake and Macassa.”
President and Chief Executive Officer
Kirkland Lake Gold.
Kirkland Lake Gold Ltd today announced production for the first quarter of 2020 of 330,864 ounces, a staggering increase of 98,985 ounces or 43% from 231,879 ounces for the first quarter of 2019 (“Q1 2019”). Q1 2020 production included 91,555 ounces related to production in Q1 2020 from Detour Lake Mine, following the Company’s acquisition of Detour Gold Corporation on January 31, 2020. Excluding the impact of Detour Lake Mine, Q1 2020 production was 7,430 ounces or 3% higher than the same period in 2019, reflecting a 24% increase in production from Fosterville.
Highlights of Q1 2020 production results:
Other highlights of Q1 2020
Tony Makuch, President and Chief Executive Officer of Kirkland Lake Gold, commented: “Our top priority is the health and wellbeing of our people, their families and our communities. We have taken numerous steps to protect people from COVID-19, including shutting down Holt Complex and substantially reducing operations at Detour Lake and Macassa. A mine-by-mine review of our COVID-19 strategy is provided in the Review of Operations that follows. Overall, our people are doing a great job putting our health and safety protocols into practice and working together as a team. The hard work and cooperation they are giving and the initiative they are showing is very impressive and we are very grateful for all of their efforts. A clear example of the effectiveness of our team is our performance in the first quarter. Faced with the unprecedented challenges of the COVID-19 pandemic, our operations still turned in a very strong first quarter. We increased production year over year, even before adding in the contribution from Detour Lake Mine since January 31, 2020. Production growth was once again driven by Fosterville, where we continue to achieve strong grade performance from the Swan Zone.
“As part of our COVID-19 protocols, we have suspended exploration drilling at all sites. Notwithstanding, we fully expect to carry out extensive drill programs at Fosterville, Macassa and Detour Lake during 2020. All three of these mines have considerable exploration upside, which we believe will fuel strong growth in Mineral Reserves. Detour Lake already has a large Mineral Reserve base and mine life. Our goal is to significantly increase the current base of 14.8 million ounces, which will help drive production growth while also maintaining a long mine life. At Macassa, we had very encouraging exploration results in 2019, including large extensions to the South Mine Complex and the intersection of high-grade zones along the Amalgamated Break. At Fosterville, we succeeded in substantially extending the Phoenix System down-plunge of the Swan Zone, demonstrated the potential of Robbin’s Hill to be a second mining operation at Fosterville, and intersected the quartz with visible gold mineralization that largely comprises the Swan Zone in multiple areas across the mining lease. Based on our recent results, we are confident that both Macassa and Fosterville have the potential for significant Mineral Reserve growth through continued exploration success.”
Q1 2020 production totaled 330,864 ounces, an increase of 43% from 231,879 in Q1 2019. The main contributor to the strong growth compared to the same period in 2019 was the contribution of 91,555 ounces from Detour Lake, following the acquisition of Detour Gold on January 31, 2020. Excluding the contribution from Detour Lake, production in Q1 2020 increased 7,430 ounces or 3% from Q1 2019. Excluding the impact of Detour Lake, production growth was driven by Fosterville reflecting the favourable impact of a 46% improvement in the average grade year over year, to 42.4 g/t in Q1 2020.