VANCOUVER (miningweekly.com) – Gold miner Agnico Eagle Mines has substantially increased the compliant resources at its Amaruq project, located in Canada’s Nunavut Territory, 50 km north-west of its operating Meadowbank mine and mill.
Toronto-based Agnico Eagle reported Thursday that the total mineral resources increased by 13% at Amaruq, increasing the inferred mineral resource by 432 000 oz to 3.71-million ounces of gold, held in 19.4-million tonnes grading 5.97 g/t gold, as at June 30.
“In just a short period of time, we have seen Amaruq advance from a grassroots discovery to a significant development project with 3.7-million ounces of gold resources,” stated vice-chairperson and CEO Sean Boyd.
The openpit constrained resource estimate also rose 33%, up 598 000 oz to 2.42-million ounces gold, held in 13.6-million tonnes grading 5.53 g/t, compared with the December 31, 2015 estimate, the company advised.
Agnico also noted a 319% expansion in the IVR deposit mineral resources, gaining 649 000 oz to 852 000 oz held in 3.9-million tonnes grading 6.84 g/t gold. The IVR deposit contains 549 000 oz of gold, held in 2.5-million tonnes grading 6.71 g/t gold, within the overall openpit resources, with the majority of this mineral resource contained in the V zone, which has been traced down to 542 m below surface and remains open at depth.
Agnico expects to publish an updated resource estimate in February 2017, and Amaruq is expected to provide a new source of ore for the Meadowbank mill starting in 2019, the company advised.