Kirkland Lake Gold Ltd. (TSX: KL) shared today the results of the 2021 mid-year mineral resource estimate for the Detour Lake mine effective June 30, 2021. The report includes measured & indicated resources of 14.7 million gold ounces, up from the previous estimate dated December 31, 2020 that indicated 4.7 million gold ounces.
The data came from a total of 365 drill holes covering a total of 185,000 metres of surface diamond drilling on the property. Majority of the resources indicated in the report are located within the previously underexplored Saddle zone.
Total measured & indicated mineral resource estimate contains 572.0 million tonnes grading at 0.80 g/t gold for 14.7 million ounces. These figures compare to the December 31, 2020 estimates that indicated 131.1 million tonnes grading at 1.10 g/t gold for 4.7 million ounces.
On the other hand, inferred mineral resource estimate comprises 48.3 million tonnes of material grading at 0.81 g/t silver equivalent for 1.1 million ounces. The 2020 year-end report estimated 52.3 million tonnes grading at 0.87 g/t gold for 1.5 million ounces.
The senior mining firm is expecting the property’s gold production to reach 800,000 ounces in 2025. It is also targeting to add approximately 100,000 metres of drilling on the property by the end of the year.
Kirkland Lake Gold Ltd. last traded at $49.40 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.