News

Record gold quarter achieved

By Country News

The Fosterville goldmine near Goornong has produced a record amount of gold in the second quarter of of 2019, according to the owners, Kirkland Lake Gold.

Chief executive officer and president Tony Makuch said Fosterville achieved a record quarter in the second quarter, with production exceeding planned levels largely because of strong grade performance in one zone.

‘‘We are targeting higher levels of production from Fosterville in both the third and fourth quarters of the year as ounces produced from the Swan Zone increase, with the mine tracking well towards its full-year 2019 guidance of 570000 to 610000 ounces,’’ Mr Makuch said.

The Fosterville Mine produced 140701 ounces in the second quarter, an increase of 82 per cent from 77462 ounces in the second quarter of 2018 and 10 per cent higher than 128445 ounces the previous quarter.