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Kirkland Lake Gold announces record quarterly production

Kirkland Lake Gold Ltd. has announced record quarterly gold production of 180,155 ounces for the third quarter of 2018.

The company’s Fosterville Mine in Australia produced 90,618 ounces, while Macassa, Holt and Taylor operations in Ontario collectively produced 89,537 ounces. Production for the first nine months totaled 492,484 ounces with the result that the company is well positioned to achieve the full-year 2018 consolidated production guidance of over 635,000 ounces.

“Q3 2018 was a record quarter for both Fosterville in Australia and our Canadian operations,” remarked Tony Makuch, president and CEO of Kirkland Lake Gold.

“At Fosterville, we commissioned a second gravity circuit during Q3 2018 and saw an immediate spike in production,with the Fosterville Mill processing over 18,000 ounces in the first week of the circuit’s operation.

In Ontario, “record production across our three mines reflected strong results at Macassa… our best quarter of production to date at Holt and a better production performance from Taylor Mine compared to the previous quarter.”

The Macassa Mine produced 55,582 ounces in Q3 2018 based on processing 92,503 tonnes at an average grade of 19.2 g/t and average mill recoveries of 97.3 per cent. Q3 2018 production was 15 per cent higher than the 48,206 ounces produced in Q3 2017, when 93,391 tonnes were processed at an average grade of 16.5 g/t and average mill recoveries of 97.4 per cent.

Year to date production at Macassa totaled 170,190 ounces, a 19 per cent increase from 142,628 ounces in 2017.

During Q3, the Holt mine achieved record quarterly production of 20,609 ounces, a 21 per cent increase over 2017, while the Taylor Mine produced 13,333 ounces for the quarter.

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