Kirkland Lake Gold Inc.: Operations Update & Financial Results Q1 Fiscal 2011; Record Gold Production in August 2010

- September 14th, 2010

Kirkland Lake Gold Inc. (TSE: KGI) announced an operations update and its first quarter fiscal 2011 results for the three months ended July 31, 2010.

Kirkland Lake Gold Inc. (TSX: KGI) announced an operations update and its first quarter fiscal 2011 results for the three months ended July 31, 2010.

The press release is quoted as saying:

16,621 ounces of gold were produced in Q1 2011, on target for yearly production of 90,000 to 100,000 ounces. 9,390 ounces of gold were produced in August, which is a monthly record; 26,011 ounces of gold were produced from ore grading 0.42 ounces per ton from May 1 to the end of August. Net income for fiscal Q1 2011 was $3.3 million or $0.05 per share. Operating costs were $256 per ton ($709 per ounce), on target to reduce operating costs to less than $250 per ton in fiscal year 2011. Cash resources (including short-term investments) as at July 31, 2010 were $48.6 million. Increased exploration continued as key drills moved to a seven day per week schedule after completion of the new worker changing facility.

Click here to access the entire press release

Click here to access Kirkland Lake Gold Inc. Corporate Site

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