Kirkland Lake Gold Inc. – South Mine Complex Production Commences; Company Wins 2008 MASHA Safety Award for Ontario
Kirkland Lake Gold Inc., an operating and exploration gold mining company located in Ontario, Canada, is pleased to provide an update on its mining activities over the past three months.
In December, Kirkland Lake set forth plans to expand its mine workforce, commence mining in the high grade South Mine Complex in March and set a production target of 100,000 ounces for its 2010 fiscal year, which begins May 1, 2009. During the months of December, January and February, a number of these targets were met as an additional 150 miners and underground workers were hired and integrated into the work force. The number of available ore faces was doubled by developing new stopes in both the Main Mine and South Mine Complex areas and the Mine now operates on a seven day a week basis. Daily ore production in March was ahead of projection at 608 tons per day and gold production for March of 7,377 ounces was a monthly record for Kirkland Lake.
“The operating team did a superb job recruiting, hiring and putting to work 150 new miners and underground workers in just two months,” said Harry Dobson, Company Chairman. “Moreover, in March, the first month of our expanded production, we were pleased to see the cost per ton at C$238, below our target figure of C$250 per ton.”
- The Mine’s ventilation boosting system was completed in early April, increasing ventilation flows by 91% mine-wide (45% more than expected) and a significant 284% for the South Mine Complex.
- Upgrades to improve the reliability of the Mine’s Pastefill Distribution System were also completed on the 3400 and 3800 Level. These repairs consisted of modifications to the piping arrangements to reduce wear as well as air locking and surging problems.
- Kirkland Lake won the 2008 Mines and Aggregates Safety and Health Association (MASHA) Award for Excellence for safety in underground mines with less than 250 employees in the province of Ontario. This was the first time in the Mine’s history that this award was won. The Company also won the 2008 Angus D. Campbell Safety award, presented annually to the company operating in northeast Ontario with the lowest frequency of accidents.
A Phase I and Phase II Project review is being completed with the intent of placing a combined and fast tracked Project plan before the Board of Directors before the end of June. The new plan is expected to contain significant schedule and capital improvements.
About Kirkland Lake Gold Inc.
Kirkland Lake Gold Inc. is an operating and exploration gold mining company located in Ontario, Canada. It purchased the Macassa Mine and the 1,500 ton per day mill along with four former producing gold properties – Kirkland Lake, Teck-Hughes, Lake Shore and Wright Hargreaves – in December 2001. These properties, which have historically produced some 22 million ounces of gold, extend over seven kilometres between the Macassa Mine on the west and Wright Hargreaves on the east and, for the first time, are being developed and explored under one owner. This camp is located in the Southern Abitibi Greenstone Belt of Kirkland Lake, Ontario, Canada. The Company’s corporate goal is to expand its gold reserves and reduce its operating costs to become a profitable gold producer.
The Company’s common shares trade on the TSX (Toronto Stock Exchange) and on the AIM (Alternative Investment Market) of the London Stock Exchange.
The Company’s senior management and Board of Directors have extensive experience in the natural resource and mining sectors that include exploration, mining and marketing, as well as experience in the legal and corporate finance areas