Gold miner Kirkland Lake Gold said proven and probable reserves in its high grade south mine complex (SMC) at KIrkland Lake, Ontario, grew by 5% last year.

Measured and indicated resources increased by 17% while inferred resources increased by 7%.

"Our exploration and development programmes during the last 7 months of 2010 successfully advanced the SMC to a critical mass of 1.34m ounces of gold with a further 723,000 ounces in the inferred category grading 0.79 opt [gold per ton]. The company's exploration strategy remains to convert inferred resources to indicated status, test previously unexplored areas and replace all ounces mined in the Main Break and SMC," said company president, Brian Hinchcliffe.

The Main Break is the older part of the mine complex at Kirkland Lake.

"Exploration efforts continued to generate additions to the reserve and resource base well in excess of 20,000 ounces per month including additional Main Break ounces that will likely be mined in the short term due to proximity to the number 3 production shaft," Hinchcliffe added.

---
jh

Related share prices
Kirkland Lake Gold Inc. (KGI) share price