PERTH (miningweekly.com) - Triple listed gold miner Kirkland Lake Gold has reported record quarterly production for the second quarter of the 2021 financial year, with the mine producing 379 195 oz.

Gold production for the second quarter was up 15% on the previous corresponding period, and 25% higher than the previous quarter, with Kirkland Lake telling shareholders that all three of its operations had seen an increase in production.

In the year-to-date, Kirkland Lake has produced 682 042 oz, compared with the 660 634 oz produced in the previous corresponding period.

The Fosterville operation, in Australia, produced 157 993 oz of gold during the second quarter, compared with the 115 106 oz produced in the previous corresponding period and the 108 679 oz produced in the first quarter.

Detour Lake, in Ontario, produced a record 165 880 oz during the quarter - a 26% increase on the previous corresponding period’s 131 992 oz, and a 13% increase on the previous quarter’s 146 731 oz of production.

At the Macassa mine, also in Ontario, Kirkland Lake produced 55 322 oz of gold, up from the 41 865 oz in the second quarter of last year, and up from the 47 437 oz produced in the first quarter of this year.

“We generated record quarterly production in the second quarter of 2021 and completed the first half of the year well positioned to achieve our full-year 2021 production guidance of 1.3-million to 1.4-million ounces, with our expectation now being to finish the year in the top half of the guidance range,” said CEO and president Tony Makuch.

“The record production in the second quarter was largely driven by strong results at Fosterville, as well as higher levels of production at both Detour Lake and Macassa compared to both the previous corresponding period and the previous quarter.

“Higher than planned production at Fosterville was mainly related to continued grade outperformance and changes in mine sequencing which resulted in an improved grade profile for the quarter. At Detour Lake, we achieved record production driven by increased mill throughput and a significant improvement in grade, with the average grade of 0.96 g/t in line with the current mineral reserve grade for the operation. Improved results at Macassa reflected increased processing rates, to an average of just under 1 000 t/d, as well as higher than expected grades. Both Detour Lake and Macassa are targeting further improvement in average grades over the balance of the year,” said Makuch.

He noted that all three cornerstone assets were on track to achieve their full-year 2021 production guidance, with Fosterville positioned to potentially beat its guidance of 400 000 oz to 425 000 oz.

Meanwhile, Kirkland Lake on Tuesday reported that gold sales for the quarter reached 364 575 oz, at an average realised price of $1 814/oz, with gold pour reported at 371 265 oz.