Kirkland Lake Gold Inc. is an operating and exploration gold company located in Kirkland Lake, ON in the Southern Abitibi gold belt. In 2001, the Company acquired 13,000 acres of five contiguous formerly producing gold mines, which had historically produced 21 million ounces of gold grading 15.1 grams per ton (0.44 ounces per ton) primarily from the Main/’04 Break system. The current focus is on expanding gold production from the Main/'04 Break, and a new discovery area, the South Mine Complex (SMC).
Kirkland Lake Gold’s corporate goal is to create a self sustaining and long lived intermediate Gold Mining Company based in the historic Kirkland Lake Gold Camp. The Company plans to do this by increasing production capacity to 2,200 tons of ore per day in several stages, and by decreasing production costs by realizing the economies of scale associated with that higher production capacity. At the same time, the company is committed to maintaining a significant exploration program aimed at developing and maintaining a property wide reserve and resource base sufficient to sustain a mine life of more than ten years for as long as practicable.
Although reserves and resources for the Company will be based on a calendar year end, the exploration budget will continue to be based on the Company’s fiscal year end (April 30th). The Company will present its exploration plans and budget shortly after completion of the current fiscal year. There are currently 14 rigs on the property including 13 underground at the Macassa mine and 1 on surface at the east end of the camp testing various targets. It is planned in FY 2012 to add two additional surface rigs... more
In January 2009, the Company initiated a series of three projects aimed at increasing the production capacity to 2,200 tons per day by January, 2014. The current production capacity is at 700-800 tons per day on a sustainable basis. The next milestone is a capacity of 1,400-1,600 tons per day, expected to be achieved in the second quarter of FY 2014. The 2,200 ton per day capacity milestone is currently targeted for completion between January and April of FY 2014... more
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