Kirkland Lake to Commence Two New Projects in Australia

Kirkland Lake announced that it is advancing three new potential mining operations – two in Australia and one in Canada.

Kirkland Lake Gold (ASX:KLA,TSX:KL,NYSE:KL) announced that it is continuing to invest in organic growth and is advancing three new potential mining operations – two in Australia and one in Canada.

As quoted in the press release:

The company announced full-year guidance for 2020, which includes continued strong operating and financial results, with consolidated production targeted at 950,000 – 1,000,000 ounces and operating cash costs per ounce sold and all-in sustaining costs per ounce sold expected to average US$300 – US$330 and US$570 – US$630, respectively. The company will also continue to invest aggressively in growth, including commencing work on development ramps aimed at establishing two new mining operations, Robbin’s Hill at Fosterville and previously identified high-grade zones near surface along the Amalgamated Break at Macassa. The company will also continue advanced exploration work in the Northern Territory, a potential third new source of future production. The company expects to produce 100,000 – 120,000 ounces in the Northern Territory in 2020, which is not included in the company’s 2020 guidance pending the resumption of commercial operations.

The company also announced today three-year production guidance for the Macassa and Fosterville mines. Production at Macassa is targeted to increase to over 320,000 ounces by 2022 reflecting initial production from the number 4 Shaft and potential production from the planned Macassa surface ramp. Production at Macassa is expected to grow to well over 400,000 ounces beginning in 2023. Production at Fosterville is expected to maintain the strong growth achieved in 2019 over the next three years as mining continues to advance in the high-grade Swan zone, with the potential for production to commence from Robbin’s Hill in 2023.

Tony Makuch, President and CEO, commented:

Looking at growth, we will continue to invest in organic growth in 2020 with the aim of advancing three new potential mining operations, Robbin’s Hill at Fosterville, previously identified high-grade zones near surface along the amalgamated break at Macassa, and our Northern Territory assets in Australia. The advanced exploration work in the Northern Territory is continuing into 2020 and has the potential to add to our production profile, with 100,000 to 120,000 ounces expected to be produced at the Union Reefs mill during the coming year, which we are not including in our guidance until we reach a decision to resume commercial operations.

This decision could come as early as February 2020 following release of our December 31, 2019 mineral reserve and mineral resource estimates. At Fosterville, we are commencing work on a twin 4.8 kilometers underground ramp to connect Robbin’s Hill to the existing mine infrastructure, while at Macassa we will begin driving a ramp to access and explore near-surface, high-grade zones along the Amalgamated Break. Robbin’s Hill and the amalgamated break are key exploration targets for our company, and we believe are two of the most compelling exploration stories in our industry today. Gaining access to these areas underground will allow us to accelerate efforts to fully evaluate their potential and will provide valuable infrastructure to support moving them into production.

Click here to read the whole Kirkland Lake Gold (ASX:KLA,TSX:KL,NYSE:KL) press release.

Torian Resources Limited Significant Gold Results from Surface at Mt Stirling

Perth, Australia (ABN Newswire) – Torian Resources Ltd (ASX:TNR) is pleased to advise that recent drilling results continue to extend the Mt Stirling Gold System over ~1.1km of Strike, ~300m at depth, and it remains open in multiple directions.

Highlights:

– The interpreted strike of the Mt Stirling gold system exceeds 1.160km with Mt Stirling Main Zone; Hanging Wall and Viserion lodes all remaining open along strike and down-dip.

Keep reading... Show less

eMetals Limited Updates Shareholders On Exploration – April 12, 2021

eMetals Limited (ASX:EMT) (eMetals or Company) is pleased to update shareholders on exploration activities which have commenced across the Company’s projects.

HIGHLIGHTS

Keep reading... Show less

Discovery Harbour Provides Newcrest’s Planned Program for Fortuity 89, Nevada

Discovery Harbour Resources Corp. (TSXV: DHR) (OTC Pink: DCHRF) (FSE: 4GW) (the “Company” or “Discovery Harbour”) is pleased to announce that Newcrest Resources Inc., a wholly owned subsidiary of Newcrest Mining Limited (“Newcrest”), has provided the details of its planned program for the Fortuity 89 epithermal gold property in Nevada.

The Fortuity 89 property covers very limited outcrop surrounded by a large covered area. The outcrop and interpreted geology are prospective for concealed low sulphidation epithermal gold mineralization below shallow unconsolidated alluvial gravels. Newcrest’s planned activities include a geophysical program encompassing a 675 line kilometre drone airborne magnetic survey, a 250 station ground gravity survey and a 45 line kilometre audio band magnetotellurics (AMT) resistivity survey. It is intended that geologic and alteration sampling and mapping will also be undertaken with a soil geochemical sampling program. The intended outcome of this program is to identify potential drill targets for testing this calendar year.

Keep reading... Show less

Blackdome-Elizabeth Gold Project 2021 Exploration Plan and Update

Tempus Resources Ltd. (“Tempus” or “the Company”) (ASX:TMR)(TSXV:TMRR) is pleased to provide an update on the exploration plan for the upcoming field season at the Blackdome-Elizabeth Gold Project, located in British Columbia, Canada

The 2021 exploration program at Elizabeth and Blackdome is fully permitted and on schedule to commence at the end of Q2, 2021. The program will consist of 7,500 metres of down plunge and along strike diamond drilling at Elizabeth to expand the known gold mineralisation, in parallel with detailed alteration and mapping studies at Blackdome in support of future resource expansion drilling.

Keep reading... Show less

Rio Tinto reaches agreement with Turquoise Hill Resources on financing plan for Oyu Tolgoi

Rio Tinto has entered into a binding Heads of Agreement (HoA) with Turquoise Hill Resources (TRQ) for an updated funding plan (the “Funding Plan”) for the completion of the Oyu Tolgoi (OT) Underground Project in Mongolia. The Funding Plan addresses the estimated remaining known funding requirement of approximately $2.3 billion 1 , building on and replacing the arrangements established in the Memorandum of Understanding that Rio Tinto and TRQ previously entered into on 9 September, 2020.

Under the HoA, subject to securing approval by OT LLC and any required support from the Government of Mongolia, and subject to timing, availability, and terms and conditions being acceptable to both parties, Rio Tinto and TRQ will:

Keep reading... Show less

Top News

Related News