(Kitco News) – Senior gold producer Kirkland Lake Gold (TSX:KL) (NYSE:KL) (ASX:KLA) as we speak introduced manufacturing outcomes for the primary quarter of 2021 of 302,847 ounces, which exceeded steerage for the quarter of 270,000 – 290,000 ounces and was 8% lower than manufacturing in Q1 2020 (330,864 ounces).
The corporate stated that the robust outcomes versus steerage largely resulted from higher-than-expected manufacturing at each Fosterville mine and Detour Lake mine in March, with Fosterville benefiting from important grade outperformance and Detour Lake reaching greater than deliberate grades and tonnes processed.
Additionally, throughout Q1 2021, the Macassa #4 Shaft challenge remained forward of schedule with shaft sinking reaching the 5,000-foot stage as at March 31, 2021 and the challenge remaining on monitor for completion in late 2022.
Detour Lake mine produced 146,731 ounces, above goal ranges and in comparison with 91,555 ounces in Q1 2020 for the 2 months after Detour Lake was acquired on January 31, 2020 (138,051 ounces for the total quarter) and 153,143 ounces in This fall 2020.
Fosterville mine produced 108,679 ounces in comparison with 159,864 ounces in Q1 2020 and 164,008 the earlier quarter. Manufacturing in Q1 2021 exceeded goal ranges due primarily to grade outperformance in March.
Macassa mine produced 47,437 ounces versus 50,861 ounces for a similar interval in 2020 and 52,283 ounces in This fall 2020.
President and CEO Tony Makuch commented, “We’re happy with our manufacturing leads to Q1 2021, which exceeded goal ranges largely pushed by stronger than anticipated outcomes at Fosterville and Detour Lake. Q1 2021 is predicted to be the bottom manufacturing quarter of the yr with all three of our cornerstone property being in low-grade cycles throughout this era.”
Kirkland Lake Gold is a senior gold producer working in Canada and Australia that’s focusing on 1,300,000 – 1,400,000 ounces of manufacturing in 2021. The manufacturing profile of the corporate is anchored by three high-quality operations, together with the Macassa mine and Detour Lake mine, each situated in Northern Ontario, and the Fosterville mine situated within the state of Victoria, Australia.
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