NYSE: KL 11.70 +0.27 +2.36% Volume: 630,800 20 min delay August 18, 2017
TSX:KL 14.64 +0.19 +1.31% Volume: 1,431,445 August 18, 2017
GOLD PRICE USD 1,285.25 -3.51 -0.27% Volume: August 18, 2017

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Fosterville Mine

Fosterville Mine is the largest gold producer in the state of Victoria, Australia

Quick Facts

Milling facility, Fosterville Gold Mine

Location Bendigo, State of Victoria, Australia
Mine type Underground, decline access
2017 Production Guidance 250,000 – 260,000 ounces
Deposit type Orogenic Gold
Process BIOX, CIL, & Gravity Circuit
End product Gold doré
Infrastructure Mill 2,275 tpd capacity
Commenced Operation 2005
Resources & Reserves


The Fosterville Mine is a high-grade, low cost underground gold mine, located 20km from the local town of Bendigo, Australia. The Fosterville Mine features extensive district scale exploration potential and low cost production.

During 2015, the mine reached a major inflection point upon discovery of the Eagle zone, containing high-grade visible gold, resulting in significant positive impacts on the reserve grade, production and cost profile. In 2016, exploration has documented similar visible gold bearing zones at depth in the Harrier zone.

The mine is located in an area with well-developed infrastructure and is accessible by paved roads. Fosterville’s ore is processed at the mines +830,000 tonnes per year mill.

Operating Data

Empty 2016(1) 2015 2014 2013
Gold produced (oz) 151,755 123,095 105,342 98,424
Ore processed (t) 693,066 703,787 814,837 792,166
Gold grade (g/t) 7.55 6.11 4.62 4.53
Recovery (%) 90.1 88.5 86.4 85.2

(1) - Kirkland Lake Gold acquired the Fosterville Gold Mine through the business combination with Newmarket Gold, which was completed on November 30, 2016. Operating results for 2016 are provided for the entire 12-month period ended December 31, 2016.


The Fosterville property includes approximately 500 km2 of additional land package with numerous brownfield and greenfield exploration targets, which will form a key aspect of the Company's 2017 exploration program. Exploration programs to date have traced only 20km of potential gold bearing structures, highlighting the exceptional exploration potential of this premier gold district. Drilling continues to intersect high-grade gold results in multiple zones and reaffirm increasing grade profiles with depth.

Growth drilling at Fosterville is focused on expanding Mineral Reserve and Resource estimates, and establishing additional mining fronts at the Harrier and Lower Phoenix North areas with the goal of increasing the rate of production and mine life of the operation. To date, the Lower Phoenix gold system is traced by development and drilling for over 2 km and remains open for further expansion.

Mining Method & Processing

Mining activities at Fosterville are currently focused on the Central, Phoenix and Harrier underground ore zones. All areas are extracted using open stoping techniques with the application of Cemented Rock Fill where applicable and practical. Selection of the specific mining method within the open stoping regime is based upon previous experience at the Fosterville mine and expectations of ore zone geometry and geotechnical conditions.

Underground mining is conducted using a conventional fleet including jumbos, production drills, loaders, trucks and ancillary equipment. Open Cut mining (when required) is conducted using a conventional fleet including excavators and trucks with the mining fleet and workforce being contract.

The processing path for the ore involves crushing and grinding followed by flotation, bacterial oxidation and CIL circuits. The modern sulphide treatment plant is one of the world’s leading BIOX systems and has achieved record recoveries. In addition, the Company installed a gravity gold circuit in 2016. Fosterville commenced production in April of 2005 and poured its one millionth ounce of gold in January 2016, representing an important milestone of safe and sustainable production at the mine.

Geology & Mineralization

The Fosterville Goldfield is located within the Bendigo Structural Zone in the Lachlan Fold Belt. The deposit is hosted by an interbedded turbidite sequence of sandstones, siltstones and shales. This sequence has been metamorphosed to sub-greenschist facies and folded into a set of upright, open to closed folds.

Mineralization at Fosterville is controlled by late brittle faulting. These late brittle faults are generally steeply west dipping reverse faults with a series of moderately west dipping reverse splay faults formed in the footwall of the main fault. There are also moderately east dipping faults which have become more significant footwall to the anticlinal offsets along the west dipping faults. Primary gold mineralization occurs as disseminated arsenopyrite and pyrite forming as a selvage to veins in a quartz–carbonate veinlet stockwork. The mineralization is structurally controlled with high-grade zones localized by the geometric relationship between bedding and faulting. Mineralized shoots are typically 4m to 15m thick, 50m to 150m up/down dip and 300m to 1,500m+ down plunge.

Antimony mineralization, in the form of stibnite, occurs with quartz and varies from replacement and infill of earlier quartz-carbonate stockwork veins, to massive stibnite-only veins of up to 0.5m in width. The stibnite-quartz event occurs in favorable structural locations, such as the Phoenix, Eagle and Lower Phoenix structures. There are also occurrences of primary visible gold (≤3mm in size) that have a spatial association with stibnite in fault related quartz veins. The occurrence of visible gold is becoming increasingly significant and is being observed more frequently with depth and down plunge within the Lower Phoenix and Harrier Mineralized Zones.