- Write by:
-
Friday, September 3, 2021 - 14:18:34
-
621 Visit
-
Print
Mining News Pro - A new resource estimate for the Detour Lake gold mine, in Ontario, has added more than 10-million ounces to the project’s measured and indicated mineral resource.
Triple-listed Kirkland Lake Gold this week reported that the measured and indicated mineral resource at Detour Lake was now estimated at 14.71-million ounces, at an average grade of 0.8 g/t gold.
The project also had an inferred mineral resource estimate of 1.1-million ounces.
“When we acquired Detour Lake, we saw many opportunities to optimize the operation and generate value, including increasing production to 800 000 oz/y, improving all-in sustaining costs (AISC) to $800/oz to $900/oz and significantly growing mineral resources and mineral reserves through an extensive exploration programme,” said Kirkland Lake president and CEO Tony Makuch.
“As outlined in the technical report and life-of-mine plan filed in March, we now expect Detour Lake to reach 800 000 oz/y of production in 2025, and to ultimately grow to over 900 000 oz/y, with average AISC targeted at $775/oz over the next five years. With today’s results, we have now clearly demonstrated both the tremendous exploration potential at Detour Lake as well as the considerable success being achieved through our drilling programmes.”
Makuch noted that based on drilling to date, the company had more than tripled measured and indicated mineral resources, with more to come as Kirkland Lake worked to complete another 100 000 m of drilling by the end of 2021.
“Our new mineral resource estimates include significant growth in mineral resources established using a 0.5 g/t cut-off grade, as well as low-grade mineral resources, which under previous plans would have been mined as waste, whereas in the new estimate these will be stockpiled and processed in later years. Everything we see tells us that we are on track for solid growth in mineral reserves as part of our December mineral reserve and mineral resource statement.
“In addition to the excellent progress being achieved with our exploration programme and the completion of our first updated mineral resource model since acquiring Detour Lake, we are also advancing efforts to optimize the 2021 life-of-mine plan. Based on ongoing work, we are targeting further operational improvements that, in aggregate, are expected to deliver between $750-million and $1-billion of value enhancement benefits over the next two to five years. These include a variety of initiatives that should improve mill availability and throughput, metallurgical recovery, grade control, automation, innovation and site optimization.”
Short Link:
https://www.miningnews.ir/En/News/615489
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Chinese coal prices are likely to keep falling until the start of the peak summer season, suppressing imports of the ...
Ivanhoe Electric (NYSE American: IE) (TSX: IE) terest in the Samapleu-Grata nickel-copper project in Côte d’Ivoire after ...
SolGold has managed to slash the upfront cost of the 100% owned Cascabel project in Ecuador while the company continues ...
Dolly Varden Silver (TSXV: DV) has discovered a new, gold-rich zone to the northwest of its Homestake Silver deposit in ...
Anglo American is in the early stages of exploring for copper and cobalt in Zambia’s North-Western province, its chief ...
Base metals declined after the Federal Reserve pushed back on interest-rate cut expectations and as investors weighed ...
Mining News Pro - Australia expanded its list of critical minerals deemed crucial to its energy transition and national ...
No comments have been posted yet ...