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Tuesday, 22nd July 2008 (862 views)

Canadian firm Kirkland Lake Gold (KLG) is to initiate two more drills this financial year, it has been revealed.

The announcement was made as the firm presented its new year-end gold reserve and resource estimates.

"When you are competing against the execution of large capex programs in the South Mine Complex and gold production from the Main Break, the team did a great job keeping five drills going for most of the year and are planning to add two more drills this fiscal year," stated KLG president Brian Hinchliffe.

He also said that the firm's exploration team has added over 900,000 ounces of high grade gold reserves and resources since its last property-wide presentation, which occurred two years ago.

Meanwhile an excavation budget of $6.3 million (£3.15 million) has been set aside by the firm for drilling over the next fiscal year.

A gold mining company, KLG has operations in a number of places, including Kirkland Lake and Lake Shore.

 

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