2021 exploration programme is Agnico Eagle’s most ambitious yet – CEO
Canadian miner Agnico-Eagle has increased its exploration budget for 2021 to $163-million, from $113-million in 2020, making it the biggest exploration budget in the company’s history.
“The 2021 exploration programme is the most ambitious in Agnico Eagle’s 64-year history,” CEO Sean Boyd said on Tuesday, stating that the group had set out to investigate the full potential of its existing operations and key projects.
He reported that the miner continued to see positive results from its 2021 exploration programme, with significant extension of the East Gouldie deposit, high-grade mineralisation at Upper Beaver, and results confirming the potential to expand the Doris deposit and make a new discovery near the Madrid deposit at Hope Bay.
Significant exploration results have also been reported at key producing assets, including LaRonde, Kittila and Meliadine, Boyd added.
Agnico Eagle’s mineral reserves and resources were at a record level at the end of 2020 and the group aimed to increase that.
At December 31, 2020, reserves totalled 24.1-million ounces of gold (348-million tonnes grading 2.15 g/t). Gold contained in measured and indicated mineral resources totalled 15.3-million ounces (341-million tonnes grading 1.4 g/t) and inferred mineral resources totalled 23.4-million ounces (283-million tonnes grading 2.57 g/t).
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