Kirkland Lake Gold hits manufacturing document forward of merger with Agnico Eagle

The constructive outcomes had been pushed by document manufacturing at Kirkland’s Lake’s Detour Lake gold mine in Ontario and robust efficiency at its Fosterville mine in Australia. Detour Lake churned out almost 211,000 oz. gold (up 38% from the final quarter of 2020) as mining hit a number of the highest-grade areas within the mine plan and manufacturing benefited from mill enhancements accomplished throughout the 12 months. 

Fosterville contributed 108,160 oz. gold within the quarter; Though down from 2020 manufacturing, the operation outperformed in opposition to expectations. It delivered 509,600 oz. for the 12 months on larger grades (processing 677,899 tonnes at a mean grade of 23.7 g/t) in comparison with steering of 400,000 to 425,000 oz. gold.

The corporate’s Macassa mine in Ontario delivered 210,190 oz. gold for the 12 months and 61,340 oz. for the quarter, up 17% from the identical interval of 2020. Manufacturing steering for the mine was revised downward to 190,000 to 210,000 oz. in November, down from 220,000 to 255,000 oz. 

Macassa to fall quick

Kirkland Lake CEO Tony Makuch, who may even head the mixed firm post-merger, famous that Detour Lake and Fosterville are each positioned to fulfill the three-year manufacturing steering issued in December 2020. Nevertheless, Macassa manufacturing is anticipated to fall quick.

“At Macassa, we’re reviewing the operation to evaluate alternatives to include Agnico Eagle’s Amalgamated Kirkland Zone into the mine plan, to handle ongoing efficiency and provide chain points associated to batteries and our battery-powered haul fleet, and to guage future plans for the near-surface ramp and mineralized zones,” Makuch mentioned in a launch. “Based mostly on work so far, we anticipate a discount in manufacturing in 2022 from ranges included in our previously-issued three-year steering.” 

Three-year steering figures launched on the finish of 2020 projected whole manufacturing of 1.3 to 1.45 million oz. throughout all three operations in 2022, growing to 1.4 to 1.55 million oz. in 2023. Up to date steering numbers, together with consolidated finances, will likely be launched in late February, after the merger with Agnico closes (anticipated in late January to mid-February). 

Makuch additionally famous that the corporate is coping with a lowered workforce in any respect its operations on account of covid-19 because the Omicron variant continues to unfold rapidly. Nevertheless, he mentioned it’s too quickly to know if the disruption may have any impact on manufacturing. 

The corporate accomplished sinking the #4 Shaft at Macassa this month to a depth of 6,400 ft. Further work, together with development of the loading pocket and different infrastructure improvement, and connection of the shaft to present operations, is on observe to be accomplished by the tip of the 12 months. 

Kirkland Lake had success increasing assets at Detour Lake and with exploration at Fosterville final 12 months.

(This text first appeared within the Canadian Mining Journal)

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Written by colin


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