Kirkland Lake Gold Limited

Description

Kirkland Lake Gold Ltd is a gold mining company based in Toronto, Canada, focusing on producing, developing, and exploring gold properties.

Through an extensive network of assets, the company owns several high-margin holdings in Australia and Canada.

The mining firm aims to achieve a production level of 1,300,000 to 1,400,000 ounces of gold in 2021.
The company merged with Newmarket Gold Inc to form a new mid-tier gold company. The combination of Macassa and Fosterville mines will reportedly have a production capacity of 500 koz of gold per year.

The mining firm owns three cornerstone assets in Detour Lake mines and Macassa Mines, located in Canada, and the Fosterville Gold Mines in Australia.

• Detour Lake: It is an open-pit mining facility acquired by Placer Dome in Northern Ontario with approximately 22 years of mine. This mine uses different methods to extract deposits, including carbon-in-pulp (CIP), gravity separation, Solvent Extraction, Electrowinning, Agitated Tank Leaching and Concentrate Leach. The mining operation utilizes twelve drills, five hydraulic shovels, 34 haul trucks, and two electric cable shovels.

• Fosterville Gold Mine: It is an underground mine that produces Orogenic Gold. Located in Victoria, it is a high-grade, low-cost underground mine that commenced its operations in 2005. Supported by the high-grade Lower Phoenix Gold System, the company reportedly achieved a significant increase in Fosterville Mineral Reserves. The mine initially operated as low-grade and near-surface mineralization. The mining methods include BIOX, CIL, and Gravity Circuit. The gold mine now has high-grade visible-gold bearing mineralization in the production profile, resulting in the overall growth of Mineral Reserve grade.

• Macassa Mine: It is an underground shaft access mine situated in Kirkland Lake, Ontario. The mine is considered to be one of the high-grade gold mines in the world. The mine operates with a stable infrastructure consisting of a railway system, a private airport and a provincial highway. The mining facility commenced its operations in 2002. After discovering the South Mine Complex (SMC), it has recorded a significant increase in production in the past five years. At Macassa, the SMC facility concentrates on fixing high-grade deposits by growing the SMC mineralization and adding to mine’s mineral resources.

The company’s exploration operations include identifying new areas of high-grade gold reserves. Financial statements, analytical reports and sustainable initiatives are available on the official website .