Canadian bullion miner Eldorado Gold has announced a maiden resource estimate for the recently-discovered Ormaque deposit, near its Lamaque operations, in Quebec.
The deposit has inferred mineral resources totalling 2.62-million tonnes at a grade of 9.53 g/t gold, for 803 000 oz of contained gold.
“This early exploration success at Ormaque highlights the outstanding growth potential at Lamaque,” said president and CEO George Burns.
“The short time frame from initial discovery to maiden inferred resource is a testament to the drive of our team and the strong exploration potential within our land package in the Abitibi greenstone belt.
“The strike continuity, vein orientation and dimensions of the Ormaque deposit exhibit important similarities to parts of the nearby historically mined Sigma deposit and Mine #2. It is ideally positioned along the ore haulage decline now under construction connecting the Lamaque-Triangle mine with the Sigma mill.”
The Ormaque deposit is located about midway between the Lamaque-Triangle mine and the Sigma processing facility. It is immediately adjacent to the ore haulage decline currently under construction linking the two, with the upper part of the deposit at the same elevation as the decline. At current development rates the decline will reach a position adjacent to the Ormaque deposit in the third quarter of 2021.