Kirkland Lake Gold production over 214K oz
Kirkland Lake Gold Ltd announced production for the second quarter of 2019 (2Q2 2019) of 214,593 ounces and for the first six months of 2019 (H1 2019) of 446,472 ounces. Production in Q2 2019 was driven by record quarterly production at Fosterville totaling 140,701 ounces, bringing year-to-date production at the mine to 269,145 ounces at June 30, 2019.
Production at Fosterville is expected to increase from Q2 2019 levels in each of the final two quarters of the year, with the mine remaining on track to achieve full-year 2019 guidance of 570K-610K ounces. On a consolidated basis, the Company continues to target full-year 2019 production of 950K-1,000K ounces.
According to the highlights of Q2 2019 and H1 2019 consolidated Q2 2019 production of 214,593 ounces compared to 164,685 ounces in the Q2 2018 and 231,879 ounces the previous quarter and H1 2019 consolidated production of 446,472 ounces, 43% higher than 312,329 ounces in the H1 2018. Gold poured in Q2 2019 of 216,166 ounces, with consolidated gold sales totaling 212,091 ounces and H1 2019 gold poured of 446,417 ounces, with total gold sales of 445,020 ounces.
Record quarterly production at Fosterville totaling 140,701 ounces, an increase of 82% from 77,462 ounces in Q2 2018 and 10% higher than 128,445 ounces in Q1 2019 while H1 2019 production of 269,145 ounces, a 90% increase from 141,305 ounces in H1 2018. Production at Macassa in Q2 2019 totaling 49,196 ounces compared to 60,571 ounces in Q2 2018 and record production of 72,776 ounces the previous quarter and H1 2019 production of 121,972 ounces, 6% higher than 114,609 ounces in H1 2018.
Production at Holt Complex of 24,696 ounces versus 26,652 ounces in Q2 2018 while 30,658 ounces in Q1 2019 while H1 2019 production remained of 55,355 ounces, similar to 56,415 ounces in H1 2018.
Tony Makuch, President and CEO- Kirkland Lake Gold, commented: “Fosterville achieved a record quarter in Q2 2019, with production exceeding planned levels largely due to strong grade performance in the Swan Zone. We are targeting higher levels of production from Fosterville in both the third and fourth quarters of the year as ounces produced from the Swan Zone increase, with the mine tracking well towards its full-year 2019 guidance of 570K-610K ounces.
At Macassa, we saw average grades more in line with expected levels in Q2 2019, which compared to Q1 2019 when the record average quarterly grade of 29.6 g/t was achieved mainly due to grade outperformance in the SMC. Tonnes processed during Q2 2019 were lower than expected, largely reflecting excess water from the spring run-off, which limited the use of the lower loading pocket at the #3 Shaft.
The impact of the water extended longer than anticipated, through to the end of the quarter. Water levels are receding, and we do not expect third and fourth quarter production to be impacted. Macassa remains on track to achieve its full-year 2019 guidance of 240K- 250K ounces.”
