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Kirkland Lake Gold Inc.
KGI is an operating and exploration gold Company in Kirkland Lake, Ontario which is located in the Lower Abitibi Greenstone belt in northeastern Ontario.
Message: J.S. Redpath Signs Letter of Intent to Expand Gold Production
| October 29, 2008 |
| Kirkland Lake Gold Announces J.S. Redpath Signs Letter of Intent to Expand Gold Production |
| KIRKLAND LAKE, ONTARIO--(Marketwire - Oct. 29, 2008) - Kirkland Lake Gold Inc. (TSX:KGI)(AIM:KGI) is pleased to announce it has signed a Letter of Intent with J.S. Redpath Limited of North Bay, Ontario to bring the high grade South Mine Complex into production on a seven day a week basis at an initial rate of 425 tons per day. The Company's existing mining crews and contract miners will continue to mine ore stopes and undertake additional stope development in the Main Break, with gold production from both areas under the plan targeted to reach 100,000 ounces annually. "The Company's new VP, Operations, Mark Tessier, has reviewed the alternatives to increase gold production, and in particular how to accelerate production on a seven day a week basis from the high grade South Mine Complex which has been discovered and outlined over the last two years," said Company President, Brian Hinchcliffe. "Both areas can be mined from the same shaft and this plan will allow us to free up experienced mining crews to develop new mining areas in the Main Break." This Letter of Intent will allow both companies to proceed with the planning, preparation and other commitments to permit an early January 2009 start-up. Scope of the proposed work includes track and trackless development, ore production, mechanized and timber raising and infrastructure development. Once this work is underway, it is expected ore production will increase to 700 tons per day at a significantly higher grade by March 2009. 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 1,500 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 Property 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. About J.S Redpath Limited. Operating since 1962, The Redpath Group provides single-source, comprehensive services to the North American and International mining industries. Technical and operational expertise contribute to Redpath's reputation for practical and innovative performance. These strengths have allowed for the completion of sophisticated, technically complex mine development and construction programs. The Redpath Group's range of services includes engineering, shaft sinking, mine development, underground infrastructure construction installations, and project management. A combination of highly skilled personnel, far-ranging experience, and modern technology has made Redpath the driving force in mine construction world-wide. |
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