VANCOUVER, BRITISH COLUMBIA, Nov 05, 2009 (MARKETWIRE via COMTEX News Network) -- Kirkland Lake Gold Inc. (Kirkland Lake or the Company) (TSX:
KGI)(AIM: KGI) reported in its news release dated September 15th,
2009 that a new paste fill hole had been drilled and is now in
operation. The Company is pleased to report that drilling of a second
paste fill hole has been completed to the 3400 foot level. Drilling
has also started on a third paste fill hole from surface which will
go to the 4200 foot level. Paste filling operations resumed in early
October with 7 stopes filled during the month and gold production
resumed in these areas.
During the last few months, a lot of work was designed to improve the
reliability of the mine, and completing some of this work is being
given priority over returning to production in some areas. It is
estimated that the mine will not return to 700 tons per day
production rate for roughly three months.
"The Board of Directors wish to thank the staff for their
responsiveness and their drive to safely return the mine to
production today," said Chairman Harry Dobson. "As we overcome the
paste fill deficit and complete various rehabilitation and
development projects, the Company will return to its longer term
plans of producing 1400 to 1500 tons of ore per day, and will be
looking to hire an additional 25-30 miners."
About Kirkland Lake Gold Inc.
Kirkland Lake Gold Inc. is an operating and exploration gold mining
company located in Ontario, Canada. It purchased the Macassa Mine and
the 1,450 ton per day mill along with four former producing gold
properties - Kirkland Lake, Teck-Hughes, Lake Shore and Wright
Hargreaves - in December 2001. These properties, which have
historically produced some 22 million ounces of gold, extend over
seven kilometres between the Macassa Mine on the west and Wright
Hargreaves on the east and, for the first time, are being developed
and explored under one owner. This camp is located in the Southern
Abitibi Greenstone Belt of Kirkland Lake, Ontario, Canada. The
Company's corporate goal is to expand its gold reserves and reduce
its operating costs to become a profitable gold producer.
The Company's common shares trade on the TSX (Toronto Stock Exchange)
and on the AIM (Alternative Investment Market) of the London Stock
Exchange.
The Company's senior management and Board of Directors have extensive
experience in the natural resource and mining sectors that include
exploration, mining and marketing, as well as experience in the legal
and corporate finance areas.
Cautionary Note Regarding Forward Looking Statements
This press release may contain statements which constitute
'forward-looking' statements, including statements regarding the
plans, intentions, beliefs and current expectations of the Company,
and its directors, or officers with respect to the future business
activities and operating performance of the Company. The words "may",
"would", "could", "will", "intend", "plan", "anticipate", "believe",
"estimate", "expect" and similar expressions, as they relate to the
Company, or its management, are intended to identify such
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future business
activities or performance and involve risks and uncertainties, and
that the Company's future business activities may differ materially
from those in the forward-looking statements as a result of various
factors. Such risks, uncertainties and factors are described in the
periodic filings with the Canadian securities regulatory authorities,
including the Company's Annual Information Form and quarterly and
annual Management's Discussion & Analysis, which may be viewed on
SEDAR at www.sedar.com. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results may vary
materially from those described herein as intended, planned,
anticipated, believed, estimated or expected. Although the Company
has attempted to identify important risks, uncertainties and factors
which could cause actual results to differ materially, there may be
others that cause results not be as anticipated, estimated or
intended. The Company does not intend nor assume any obligation to
update these forward-looking statements.
Neither the Toronto Stock Exchange nor the AIM Market of the London
Stock Exchange has reviewed and neither accepts responsibility for
the adequacy or accuracy of this news release.
Contacts:
Kirkland Lake Gold Inc.
Brian Hinchcliffe
President
1 705 567 5208
1 705 568 6444 (FAX)
bhinchcliffe@klgold.com
Kirkland Lake Gold Inc.
Scott Koyich
Investor Relations
1 403 215 5979
info@klgold.com
www.klgold.com
Pelham Public Relations
Chelsea Hayes
+44 20 7743 6675
chelsea.hayes@pelhampr.com
NOMAD: Panmure Gordon (UK) Limited
Dominic Morley / Ashton Clanfield
+44 20 7614 8388
dominic.morley@panmure.com
Ocean Equities Ltd.
Guy Wilkes
+44 207 786 4370
guy.wilkes@oceanequities.co.uk
SOURCE: Kirkland Lake Gold Inc.
mailto:bhinchcliffe@klgold.com
mailto:info@klgold.com
http://www.klgold.com
mailto:chelsea.hayes@pelhampr.com
mailto:dominic.morley@panmure.com
mailto:guy.wilkes@oceanequities.co.uk
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