GOLD: KLGold reveals 41,482-oz production record in Q1

ONTARIO – Kirkland Lake Gold, headquartered in the town of the same name, said its mines produced a record of 41,482 oz of gold for the first quarter of 2015. The company is adjusting its year end from April 30 to Dec. 31; therefore, Q1 2015 ran from May 1 to July 31.

The production record was reached as mill throughput rose to 1,089 t/d and head grades increased by 7%. The Macassa mill treated 85,655 tonnes or ore at a head grade of 15.4 g/t Au. The recovery rate was 96.6%. During the quarter, KLGold sold 41,204 oz.

For the eight months of fiscal 2015, capital expenditures between $28 million and $30 million are anticipated. Battery operated equipment, including two 20-t haul trucks, three load-haul-dumpers and ancillary equipment has been ordered. During the first quarter, the company modified the power line between the shafts and mill area in an attempt to reduce electricity costs.

Details of the Macassa and South Mining Complex operations are available at KLGold.com.