Kirkland to produce 1545K Oz in 2023!

Kirkland Lake Gold Provides

Three-Year Production Guidance! 

Kirkland Lake Gold Positioned for Strong Operating and Financial Results in 2021, Company Provides Three-Year Production Guidance 

Kirkland Lake Gold announced the Company’s full-year guidance for 2021, including production of 1,300,000 – 1,400,000 ounces, driven by strong growth at Detour Lake Mine, with all-in sustaining costs (AISC) per ounce sold on track to remain unchanged from 2020 levels. 

Guidance for 2021 includes increased capital spending largely in support of future production growth at Detour Lake, and a greater commitment to exploration to follow up on recent drilling success at all three of the Company’s cornerstone assets. All dollar amounts are expressed in U.S. dollars unless otherwise noted. 

The Company also announced today three-year production guidance which demonstrates the sustainability of solid operating performance and includes growth to 1,405,000 -1,545,000 ounces in 2023. During this period, the Company will continue to work towards achieving a number of significant, and potentially transformational, milestones. 

Among these milestones is completing the current $50 million dollar drilling program at Detour Lake and releasing a new mine plan in 2022. Drilling to date at Detour Lake provides increasing evidence that the Main, West and North pit locations involve one large, continuous deposit that can support the transition to a “super pit” concept and can lead to substantially higher levels of production. 

At Macassa, the #4 shaft project is continuing and remains on track for completion in late 2022, when production is expected to increase to 400,000 ounces at improved unit costs in 2023. In Australia, the Company is planning its largest exploration program at Fosterville since acquiring the mine in 2016, including $85 – $95 million of drilling and development. 

The primary objective of the program is to identify additional high-grades zones to provide future high-grade production. The 2021 exploration plan will largely follow up on existing drill results that included the intersection of quartz with visible gold, found in large concentrations and at exceptional grades in the Swan Zone, in multiple other locations.