Stock Symbol: AEM (NYSE and TSX)
(All amounts expressed in U.S. dollars unless
otherwise noted)
TORONTO, Sept. 5, 2017 /CNW/ - Agnico Eagle Mines
Limited (NYSE:AEM, TSX:AEM) ("Agnico Eagle" or the "Company")
is pleased to provide an update on its recent 2017 exploration
activities at the Amaruq project in Nunavut, the Barsele project in Sweden and the La India Mine and El Barqueno
project in Mexico. Highlights include:
- Drilling at Amaruq traces gold beneath current Whale Tail
and V Zone mineral resources – AMQ17-1418 intersects a strongly
mineralized quartz vein that returned 8.6 grams per tonne ("g/t")
gold over 38.7 metres at 273 metres depth extending the V Zone to
the east of the proposed pit
- New Tugak structure identified 4.5 kilometres west of Whale
Tail at Amaruq – Initial drill results include 2.5 g/t gold
over 10.0 metres near surface. Follow up drilling is planned
- At the Barsele project, drilling infills area between
Central and Avan zones – High-grade interval in Central
Zone intersects 5.4 g/t gold over 11.5 metres at 275 metres
depth
- La India drilling extends
near-pit mineralization and other near-mine targets, mineral
reserves and mineral resources expected to increase at year-end
2017 – Drilling at El
Realito intersects 9.5 g/t gold and 36 g/t silver over 7.3
metres at 92 metres depth, while drilling at La Chipriona
intersects 1.4 g/t gold and 67 g/t silver over 40.3 metres near
surface. Both of these zones are outside of the current mine
plan
- At El Barqueno, drilling extends strike length of
Azteca-Zapateco zones by over 1,000 metres to west onto Cuauhtémoc
zone – Recent results in far west include 6.3 g/t gold and 45
g/t silver over 5.7 metres at 201 metres depth
"Our solid operational performance has generated strong cash
flow, which has allowed us to maintain a robust exploration budget
both at our mine sites and at our exploration/development projects
in 2017. As a result, we continue to make new discoveries and
extend the mineralization at multiple projects," said Sean Boyd, Chief Executive Officer of Agnico
Eagle. "We believe that there is good potential to expand and
upgrade the mineral resources and mineral reserves at many of our
key projects by year-end 2017," added Mr. Boyd.
Amaruq Satellite Deposit – V Zone Expands at Depth and
to West; Whale Tail Ore Shoot Extended, Directional Drill Program
Reaching Below Current Mineral Resources; New Tugak Showing
Discovered 4.5 Kilometres West of Planned Whale Tail Pit; I Zone
Confirmed by New Drilling
Agnico Eagle has a 100% interest in the Amaruq satellite
deposit, approximately 50 kilometres northwest of the Meadowbank
mine. Amaruq is situated on a 116,717-hectare property, near
the 77,411-hectare Meadowbank property. A significant gold
discovery was made on the Amaruq property in 2013, and activities
since that time have focused on the development of satellite
mineralization to feed the existing 11,000 tonne per day Meadowbank
mill.
At December 31, 2016, the Amaruq
property contained an open pit indicated mineral resource of 2.1
million ounces of gold (16.9 million tonnes grading 3.88 g/t gold);
an open pit inferred mineral resource of 763,000 ounces gold (4.9
million tonnes grading 4.81 g/t gold); and an underground inferred
mineral resource of 1.4 million ounces gold (6.8 million tonnes
grading 6.22 g/t gold).
In February 2017, the Company's
Board of Directors approved the development of the Amaruq property
pending the receipt of the required permits.
The first phase of a planned $22
million, 75,000 metre drill program commenced in early
February 2017 and, to the end of
July, 352 holes (65,600 metres) were drilled. The infill
drill program at IVR and Whale Tail were completed in late
May. Since then, drilling has focused on extension of the V
Zone to the east, west and at depth and extension of the Whale Tail
deposit at depth. Additionally, drilling continues on
multiple regional targets north and west of Mammoth Lake, such as
the new Tugak showing, which is more than four kilometres west of
the current mineral resources. Exploration results continue
to expand the mineralization below the planned Whale Tail and
proposed V Zone open pits, with continued success at depth in both
deposit areas. The I Zone, which was discovered in 2013, has
been intersected in several recent holes north of the V Zone,
demonstrating continuity with previous drill intercepts.
The second phase of the 2017 Amaruq drill program has already
commenced. It is targeting extensions of the Whale Tail
deposit and V Zone and testing the continuity of the new Tugak
structure.
Recent intercepts from the project are set out in the table
below and the drill hole collars are located on the Amaruq project
local geology map. The pierce points are shown on the Amaruq
project composite longitudinal section. All intercepts
reported for the Amaruq project show uncapped and capped grades
over estimated true widths, based on a preliminary geological
interpretation that is being updated as new information becomes
available with further drilling.
Recent exploration drill results from the Whale Tail (WT)
deposit, the I and V Zones and the Tugak showing, Amaruq
project
Drill hole
|
Zone
|
From
(metres)
|
To
(metres)
|
Depth of
midpoint
below
surface
(metres)
|
Estimated
true width
(metres)
|
Gold grade
(g/t)
(uncapped)
|
Gold grade
(g/t)
(capped)*
|
AMQ17-1345
|
WT
|
275.0
|
312.6
|
257
|
35.3
|
6.9
|
6.9
|
AMQ17-1355
|
V Zone
|
395.3
|
399.1
|
349
|
3.8
|
5.2
|
5.2
|
and
|
V Zone
|
503.8
|
507.2
|
442
|
2.9
|
11.3
|
11.3
|
AMQ17-1366
|
WT
|
379.7
|
428.1
|
340
|
24.2
|
7.6
|
7.6
|
including
|
|
419.3
|
428.0
|
357
|
4.4
|
17.7
|
17.5
|
AMQ17-1397
|
V Zone
|
103.0
|
109.1
|
76
|
5.3
|
4.8
|
4.8
|
AMQ17-1418
|
V Zone
|
327.8
|
372.5
|
273
|
38.7
|
40.0
|
8.6
|
including
|
|
327.8
|
332.2
|
257
|
4.1
|
70.7
|
8.1
|
including
|
|
339.0
|
342.3
|
265
|
2.9
|
174.5
|
11.4
|
including
|
|
351.8
|
355.0
|
275
|
2.8
|
81.6
|
23.1
|
including
|
|
361.7
|
372.5
|
286
|
8.8
|
58.9
|
21.4
|
AMQ17-1426
|
V Zone
|
78.0
|
83.0
|
77
|
3.5
|
24.8
|
24.8
|
and
|
V Zone
|
170.5
|
177.0
|
168
|
5.0
|
7.4
|
7.4
|
AMQ17-1433D
|
WT
|
702.5
|
710.8
|
596
|
4.8
|
6.4
|
6.4
|
and
|
WT
|
728.1
|
757.0
|
624
|
16.6
|
3.9
|
3.9
|
including
|
|
730.5
|
736.5
|
617
|
3.4
|
7.2
|
7.2
|
including
|
|
744.0
|
749.2
|
627
|
3.0
|
6.1
|
6.1
|
AMQ17-1437
|
V Zone
|
50.0
|
53.5
|
40
|
2.8
|
8.0
|
8.0
|
AMQ17-1447
|
Tugak
|
318.7
|
324.0
|
259
|
2.8
|
3.0
|
3.0
|
AMQ17-1455
|
I Zone
|
142.3
|
154.0
|
139
|
8.3
|
4.9
|
4.9
|
AMQ17-1457
|
I Zone
|
174.0
|
185.1
|
166
|
7.8
|
3.9
|
3.9
|
AMQ17-1469
|
Tugak
|
10.7
|
26.3
|
14
|
10.0
|
2.5
|
2.5
|
including
|
|
10.7
|
17.7
|
11
|
4.5
|
3.9
|
3.9
|
AMQ17-1475
|
V Zone
|
647.2
|
657.5
|
610
|
9.0
|
8.5
|
8.5
|
AMQ17-1477
|
Tugak
|
117.0
|
121.0
|
100
|
3.6
|
3.3
|
3.3
|
*
|
Holes at the Whale
Tail deposit use a capping factor of 80 g/t gold. Holes at
the IVR deposit (including the I and V Zones) use a capping factor
of 60 g/t gold. Gold values from the Tugak showing are not
capped.
|
[Amaruq Project Local Geology Map]
[Amaruq Project Composite Longitudinal Section]
V Zone
The V Zone consists of a series of parallel stacked quartz vein
structures striking northeast and dipping shallowly to the
southeast from near surface. Recent drill results have
increased the depth an additional 70 metres to 610 metres below
surface locally. The V Zone remains open at depth.
East of the proposed V Zone pit are a few significant new drill
holes that intersected mineralization outside and below the pit
outline. Immediately east of the planned pit outline, hole
AMQ17-1418 intersected mineralization over several closely spaced
intervals; the hole intersected 8.6 g/t gold over 38.7 metres at
273 metres depth, including a strongly mineralized quartz vein that
intersected 21.4 g/t gold over 8.8 metres at 286 metres
depth. Approximately 200 metres southeast of this, hole
AMQ17-1475 cut the deepest drill intercept in the V Zone to date,
intersecting 8.5 g/t gold over 9.0 metres at 610 metres depth.
The latter intercept represents a down-dip advance of 170
metres to the southeast (and a 70 metre descent in vertical depth)
in the lowest known mineralized V Zone structure.
Located 120 metres northwest of the proposed V Zone pit outline,
hole AMQ17-1455 intersected the I Zone on strike and 70 metres west
of previous intersections, with results of 4.9 g/t gold over 8.3
metres at 139 metres depth. Approximately 170 metres to the
northeast, hole AMQ17-1457 intersected the same type of
mineralization returning 3.9 g/t gold over 7.8 metres at 166 metres
depth. Very limited drilling has been completed in this
area. The I Zone remains open to the west.
Drilling continued to trace a western extension of the V Zone,
up to 300 metres west of the proposed V Zone pit outline.
Hole AMQ17-1426 encountered two distinct gold intervals,
returning 24.8 g/t gold over 3.5 metres at 77 metres depth and 7.4
g/t gold over 5.0 metres at 168 metres depth. The V Zone
structures remain open to the west and at depth. Another 500
metres farther west from hole AMQ17-1426 in an area not previously
drilled, hole AMQ17-1437 reported 8.0 g/t gold over 2.8 metres at
40 metres depth. The relationship of this intercept to the V
Zone will be investigated further.
Whale Tail
Conversion drilling completed in June has confirmed the
robustness of the mineralization within the main ore-shoot in the
Whale Tail deposit. For example, hole AMQ17-1366 intersected
7.6 g/t gold over 24.2 metres at 340 metres depth. The second
phase drill program this year will target a deep extension of the
higher grade ore shoot.
A directional drilling program is underway to determine if the
favourable geological units hosting the gold mineralization
continue at depth below the Whale Tail deposit, with branches being
drilled from two "mother holes" so far, to reach specific depths in
search of favourable host rocks. Hole AMQ17-1433D is a branch
that was drilled to approximately 680 metres depth; preliminary
results show multiple intercepts such as 6.4 g/t gold over 4.8
metres at 596 metres depth and 7.2 g/t gold over 3.4 metres at 617
metres depth.
To date, the Whale Tail deposit has been defined over at least
2.3 kilometres of strike length and extends from surface to 732
metres depth; it remains open at depth and along strike.
Tugak showing
Exploration drilling west of Mammoth Lake has encountered what
the Company interprets to be a favourable mineralization host, with
sedimentary rocks enclosed between two layers of ultramafics,
geologically similar to the main mineralization at the Whale Tail
deposit. Located approximately 4.5 kilometres west of the
western limit of the planned Whale Tail pit outline, the newly
discovered "Tugak showing" is returning encouraging results.
Hole AMQ17-1469 intersected 2.5 g/t gold over 10.0 metres
near surface, including 3.9 g/t gold over 4.5 metres.
Approximately 300 metres to the northwest, hole AMQ17-1477
intersected 3.3 g/t gold over 3.6 metres at 100 metres depth.
The Tugak showing requires more investigation to determine its
shape and extent, and its relationship to Whale Tail and the IVR
deposits.
Future Activities
Additional drill results are expected during the second phase of
the 2017 program. Regional exploration will continue using
two drill rigs in the Mammoth Lake area. Other areas of
interest closer to the mineral resources will be probed using four
drill rigs, including near-surface exploration west of the IVR
deposit and investigating the deep portions of V Zone and Whale
Tail.
Approximately $78 million is being
spent on capital costs at Amaruq in 2017, primarily on the recently
completed all-weather exploration road, additional technical
studies and the procurement of materials and equipment.
On August 20, 2017, the
64-kilometre-long exploration road from Meadowbank had reached the
Amaruq camp on budget and half a month ahead of schedule.
Development of the Amaruq exploration ramp has been permitted and
planning is underway; construction of the ramp is planned to begin
in early 2018.
On June 15, 2017, the Company and
the Kivalliq Inuit Association signed an Inuit Impact and Benefit
Agreement ("IIBA") for the Whale Tail Project. The Whale Tail
IIBA addresses protection of Inuit values, culture and language and
provides for enhanced access by Inuit to employment, training and
business opportunities. The IIBA contains implementation and
monitoring measures that will ensure these goals are achieved.
Agnico Eagle is working closely with the Nunavut Impact Review
Board ("NIRB") and the Nunavut Water Board ("NWB") on the Whale
Tail joint permitting process. NIRB/NWB has coordinated the
technical review, which is underway; technical meetings and a
prehearing conference were held in Baker
Lake from April 27 to May
2. The final public hearing is scheduled to take place in
September 2017; the permitting team
is working with the federal and territorial authorities to resolve
remaining issues prior to this final public hearing. The
Whale Tail pit permitting is on schedule and permits are expected
by the third quarter of 2018.
The Company expects a conventional open pit mining operation to
begin on the Whale Tail deposit in the third quarter of 2019.
Other satellite deposits, such as the V Zone, are being evaluated
and considered for future development and will require additional
permitting. The planned Whale Tail pit currently extends to a
depth of approximately 250 metres and is open for expansion.
For additional details on the project see the Company's news
releases dated February 15, 2017 and
July 26, 2017.
Barsele Project – 400-metre Extension of Mineralized
System
On June 11, 2015, Agnico Eagle
acquired a 55% interest in the Barsele project in Sweden. The
Company can earn an additional 15% interest in the project through
the completion of a pre-feasibility study. The Company is the
operator of the project. The Barsele property is known to
contain intrusive-hosted gold mineralization (the Central, Avan and
Skiråsen zones). The property also hosts gold-rich
polymetallic volcanogenic massive sulphide (VMS) mineralization
(the Norra Zone). The Central, Avan and Skiråsen zones are
now interpreted to be part of the same mineralized system extending
approximately 3.0 kilometres of strike length.
In 2016, Agnico Eagle completed an initial mineral resource
estimate for the Barsele project that outlined total inferred
mineral resources (on a 100% basis) of 1.2 million ounces (21.7
million tonnes grading 1.72 g/t gold). Drilling results for
Barsele were last reported in the Company's news release dated
October 26, 2016.
Drilling at Barsele from January through July 2017 totaled 28,511 metres in 56
holes. Recent intercepts from this program are set out in the
table below; drill hole collar coordinates are set out in a table
in the Appendix of this news release and the collars are located on
the Barsele Project Regional Geology Map. All intercepts
reported for the Barsele project show capped gold grades over
estimated true widths, based on a preliminary geological
interpretation that is being updated as new information becomes
available with further drilling.
Recent exploration and confirmation drill results from the
Barsele project
Drill hole
|
Location
|
From
(metres)
|
To
(metres)
|
Depth of
midpoint
below
surface
(metres)
|
Estimated
true width
(metres)
|
Gold grade
(g/t)
(uncapped)
|
Gold
grade (g/t)
(capped)*
|
AVA16-022
|
Avan
|
66.8
|
109.0
|
65
|
30.0
|
2.03
|
2.03
|
including**
|
|
91.5
|
94.0
|
65
|
2.0
|
2.87
|
2.87
|
AVA16-024
|
Avan
|
22.0
|
36.0
|
20
|
10.0
|
1.01
|
1.01
|
AVA17-001
|
Avan
|
223.0
|
237.0
|
205
|
6.6
|
5.11
|
5.11
|
AVA17-004***
|
Avan
|
69.0
|
72.0
|
50
|
2.0
|
5.46
|
5.46
|
AVA17-010
|
Avan
|
371.0
|
378.0
|
320
|
3.7
|
9.70
|
9.47
|
CNT16-011
|
Central
|
351.0
|
374.0
|
275
|
11.5
|
7.90
|
5.36
|
CNT16-032
|
Central
|
463.0
|
555.0
|
390
|
62.0
|
1.63
|
1.63
|
CNT17-006
|
Central
|
340.0
|
365.0
|
265
|
16.6
|
5.34
|
5.34
|
CNT17-012
|
Central
|
362.0
|
381.8
|
265
|
14.5
|
5.07
|
3.49
|
and
|
Central
|
507.0
|
529.0
|
390
|
14.8
|
2.51
|
1.74
|
SKI16-002
|
Skiråsen
|
857.0
|
882.0
|
695
|
13.0
|
2.15
|
2.15
|
SKI16-015
|
Skiråsen
|
362.0
|
369.0
|
290
|
3.7
|
3.65
|
3.65
|
and
|
Skiråsen
|
383.0
|
414.0
|
315
|
16.5
|
2.29
|
2.29
|
SKI17-003
|
Skiråsen
|
517.0
|
567.0
|
445
|
29.7
|
3.10
|
1.75
|
including
|
|
555.0
|
567.0
|
460
|
7.2
|
5.36
|
4.65
|
*
|
Holes at Barsele
use a capping factor of 20 g/t gold.
|
**
|
Hole AVA16-022
intersected a polymetallic vein grading 2.87 g/t gold, 286.4 g/t
silver, 2.67% lead and 0.62% zinc over 2.0 metres estimated true
width at 65 metres below surface.
|
***
|
Hole AVA17-004
intersected a polymetallic zone grading 5.46 g/t gold, 384.5 g/t
silver, 1.93% lead and 2.39% zinc over 2.0 metres estimated true
width at 50 metres below surface.
|
[Barsele Project - Regional Geology Map]
In 2017, the exploration program is focused on expanding the
mineral resources along strike and at depth, testing the gap
between the Central and Avan zones and investigating certain VMS
targets.
Recent high-grade gold intersections demonstrate that the area
between the Central and Avan zones is mineralized. New
shallow intersections in the Avan Zone and deep intersections in
the Skiråsen Zone indicate that the system is open to the northwest
and southeast as well as at depth. The currently known
mineralized system extends approximately 3.0 kilometres along
strike and is recognized from surface to approximately 700 metres
depth locally. This is an increase of approximately 400
metres strike length, mainly to the northwest.
At the Avan Zone, hole AVA16-024 was drilled to validate
previous drilling; it intersected 1.01 g/t gold over 10.0 metres at
20 metres depth. This intercept extends the Avan Zone
mineralization strike length by 375 metres to the northwest.
Also in the northwest, infill hole AVA17-001 intersected 5.11 g/t
gold over 6.6 metres at 205 metres depth. Expansion hole
AVA17-010 intersected a high-grade zone grading 9.47 g/t gold over
3.7 metres at 320 metres depth. These holes verify that the
Avan Zone continues farther to the northwest and remains open in
this direction.
Infill hole AVA17-004 intersected a polymetallic quartz vein
zone grading 5.46 g/t gold, 384.5 g/t silver, 1.93% lead and 2.39%
zinc over 2.0 metres at 50 metres depth, next to a shear
structure. This intersection is similar to the polymetallic
zone intersected 100 metres to the southwest in hole AVA16-022,
where an intercept graded 2.87 g/t gold, 286.4 g/t silver, 2.67%
lead and 0.62% zinc over 2.0 metres at 65 metres depth. The
Company believes that these two intersections might indicate a
gold-rich VMS system within the Avan Zone.
In the southeast end of the Central Zone, infill hole CNT16-032
intersected 1.63 g/t gold over 62.0 metres at 390 metres depth.
Infill hole CNT17-012 drilled between the Central and
Skiråsen Zones intersected 3.49 g/t gold over 14.5 metres at 265
metres depth. This indicates that the Central and Skiråsen
Zones might be connected in the 100-metre-wide gap between
them.
Between the Central and Avan zones, exploration hole CNT17-006
returned intercepts through two lodes: 5.34 g/t gold over 16.6
metres at 265 metres depth, followed by a lower grade intercept of
1.74 g/t gold over 14.8 metres at 390 metres depth. The upper
high grade intersection is located about 90 metres east of the
high-grade lode intersected in hole CNT16-011: 5.36 g/t gold over
11.5 metres at 275 metres depth.
In the Skiråsen Zone, infill hole SKI16-015 intersected multiple
gold intercepts between 165 and 591 metres depth, including 3.65
g/t gold over 3.7 metres at 290 metres depth and 2.29 g/t gold over
16.5 metres at 315 metres depth. The hole also intersected
anomalous zinc mineralization between 771 and 790 metres depth
down-hole, with grades varying 0.10% and 2.8% zinc.
Expansion hole SKI16-002 was extended down to 899 metres total
length. The hole intersected 2.15 g/t gold over 13.0 metres
at 695 metres depth, which is the deepest intercept to date at the
Barsele project. This intercept demonstrates that gold-
mineralization continues at depth and that the system is still open
down-plunge to the southeast.
The plan for the remainder of the year at Barsele is to continue
expansion and infill drilling on the Avan, Central and Skiråsen
zones, and to drill-test regional targets. Additional
trenching is planned at the Central Zone as well as regional basal
till sampling.
La India – Exploration
Focused on Extending Near-Pit Mineralization and Other Near-Mine
Targets
The La India mine in Sonora,
Mexico, located approximately 70 kilometres from the
Company's Pinos Altos mine,
achieved commercial production in February
2014.
In the first half of the year, infill drilling was carried out
on the Main Zone to evaluate the potential to extend mineral
reserves and mineral resources below the current pit design.
Drilling was also carried out at the nearby El Realito, Chipriona, Cerro de Oro and
El Cochi zones in the first half,
with encouraging results. These areas are being drilled to
evaluate the potential to increase mineral reserves and mineral
resources in close proximity to the current mining areas.
Additional exploration work is planned in these areas in the second
half of 2017.
Mine-site exploration at the La India property from January
through July 2017 includes 19,790
metres in 182 holes of the 26,000-metre budget in 2017. The
mine-site exploration in this period comprises 4,962 metres (45
holes) in the Main Zone, 9,750 metres (78 holes) at El Realito, 3,878 metres (45 holes) at
El Cochi and 1,170 metres (14
holes) at Cerro de Oro. In addition, the regional exploration
at the La India property in this period completed 2,292 metres (9
holes) at Chipriona as part of the 10,000-metre budget which is
distributed among various satellite targets.
Selected recent drill results from the La India mine property
are set out in the table below; the drill hole collar coordinates
are set out in a table in the Appendix of this news release and the
collars are located on the La India Area Property and Location Map.
All intercepts reported for the La India mine property show
uncapped gold and silver grades over estimated true widths, based
on a preliminary geological interpretation that will be updated as
new information becomes available with further drilling.
Additional drilling is planned in the second half of 2017.
Given the increases in mineral reserves and mineral resources
in 2016 and the success of the ongoing exploration program, the
Company is evaluating location options to construct additional heap
leach pad capacity.
Recent exploration drill results from the La India mine
area
Drill Hole
|
Location
|
From
(metres)
|
To
(metres)
|
Depth of
midpoint
below
surface
(metres)
|
Estimated
true width
(metres)
|
Gold grade
(g/t)
(uncapped)
|
Silver
grade (g/t)
(uncapped)
|
INMRC16-2262
|
Main
|
80.0
|
118.0
|
102
|
37.7
|
0.88
|
1
|
INMRC17-2285
|
Main
|
10.0
|
37.0
|
24
|
24.8
|
1.15
|
<1
|
including
|
|
29.0
|
34.0
|
32
|
4.7
|
1.97
|
<1
|
INMRC17-2287
|
Main
|
29.0
|
49.0
|
39
|
18.7
|
0.88
|
20
|
including
|
|
37.0
|
43.0
|
40
|
5.2
|
1.52
|
41
|
INMRC17-2293
|
Main
|
83.0
|
128.0
|
106
|
39.0
|
0.71
|
6
|
including
|
|
100.0
|
113.0
|
107
|
11.3
|
1.34
|
6
|
INMRC17-2303
|
Main
|
174.0
|
205.0
|
183
|
27.9
|
1.08
|
5
|
including
|
|
185.0
|
199.0
|
190
|
12.6
|
1.76
|
7
|
INER16-001
|
Realito
|
56.0
|
65.9
|
54
|
9.7
|
1.53
|
102
|
and
|
Realito
|
82.0
|
87.0
|
73
|
4.8
|
8.77
|
286
|
INER16-003
|
Realito
|
97.0
|
126.6
|
61
|
29.3
|
0.82
|
4
|
including
|
|
115.5
|
120.0
|
64
|
4.2
|
1.50
|
4
|
INER16-008
|
Realito
|
79.0
|
85.1
|
75
|
5.8
|
1.21
|
3
|
and
|
Realito
|
93.9
|
106.9
|
90
|
12.7
|
4.99
|
13
|
including
|
|
98.3
|
105.9
|
92
|
7.3
|
9.50
|
36
|
INER16-010
|
Realito
|
4.3
|
22.0
|
14
|
15.2
|
1.58
|
8
|
including
|
|
8.4
|
14.8
|
18
|
3.8
|
2.10
|
11
|
INER16-018
|
Realito
|
70.8
|
76.9
|
74
|
6.1
|
2.32
|
14
|
INER17-073
|
Realito
|
54.0
|
67.0
|
37
|
11.8
|
3.19
|
5
|
INEC17-001
|
Cochi
|
0.0
|
16.4
|
10
|
13.4
|
0.46
|
8
|
INEC17-022
|
Cochi
|
31.0
|
48.0
|
43
|
13.9
|
1.93
|
16
|
including
|
|
32.0
|
38.0
|
37
|
4.6
|
3.00
|
41
|
and
|
Cochi
|
88.0
|
122.0
|
126
|
28.4
|
1.18
|
4
|
including
|
|
97.7
|
110.0
|
106
|
10.9
|
2.39
|
6
|
INEC17-029
|
Cochi
|
0.0
|
20.0
|
11
|
18.0
|
0.70
|
3
|
CHP17-001
|
Chipriona
|
0.0
|
74.0
|
64
|
51.8
|
0.28
|
57
|
including
|
|
0.0
|
33.0
|
47
|
23.1
|
0.40
|
106
|
including
|
|
8.0
|
17.0
|
44
|
6.3
|
0.58
|
157
|
CHP17-003
|
Chipriona
|
0.0
|
57.5
|
25
|
40.3
|
1.38
|
67
|
including
|
|
30.0
|
57.5
|
40
|
19.3
|
2.47
|
112
|
and
|
Chipriona
|
79.0
|
89.0
|
70
|
7.0
|
0.68
|
58
|
CHP17-006
|
Chipriona
|
54.0
|
95.6
|
51
|
29.1
|
0.24
|
61
|
including
|
|
58.0
|
64.5
|
49
|
4.6
|
0.64
|
225
|
CHP17-007
|
Chipriona
|
7.5
|
38.5
|
16
|
21.7
|
0.35
|
119
|
including
|
|
19.0
|
24.0
|
15
|
3.5
|
0.76
|
537
|
Gold and silver
grades in the La India area are uncapped
|
[La India Area Property and Location
Map]
La India's Main Zone
During the second quarter, infill (conversion) and step-out
drilling was carried out on La India's Main Zone to evaluate the
potential to extend the mineral reserves inside the current pit
design and to explore opportunities to increase mineral resources
outside the currently planned pit limits.
At the Main Zone, drilling intersected encouraging intervals
both inside and outside the existing pit limits. For example,
hole INMRC-17-2303 intersected 1.08 g/t and 5 g/t silver over 27.9
metres at 183 metres depth (below the current pit limit) in
continuous mineralization of a mixed sulphide-oxide ore type,
opening the opportunity of extending the mineral resources.
Inside the pit shell, hole INMRC17-2293 intersected 0.71 g/t gold
and 6 g/t silver over 39.0 metres at 106 metres depth, including
1.34 g/t gold and 6 g/t silver over 11.3 metres.
El Realito and El Cochi
Zones
Exploration drilling was conducted at the El Realito and El
Cochi satellite projects to evaluate the potential to
increase mineral resources in close proximity to the existing La
India mining operations, with encouraging results.
At El Realito, which is
approximately 1.5 kilometres east of the North and La India zones,
exploration is defining and extending the mineralization on the
northwest flank of Realito
hill. The results below are the first exploration results
released by the Company for the El
Realito project.
Exploration initiated early in the first quarter of 2017 focused
on infill drilling in El Realito
and extending the known mineralization. Results from the
current program appear to confirm the Company's exploration model
that subvertical breccia corridors acted as conduits bringing gold
and silver mineralization into favourable subhorizontal
layers. One of the best recent results is hole INER16-008
that intersected 1.21 g/t gold and 3 g/t silver over 5.8 metres at
75 metres depth, and 4.99 g/t gold and 13 g/t silver over 12.7
metres at 90 metres depth, including 9.50 g/t gold and 36 g/t
silver over 7.3 metres. Hole INER16-018 intersected 2.32 g/t
gold and 14 g/t silver over 6.1 metres at 74 metres depth. As
well, hole INER17-073 intersected 3.19 g/t gold and 5 g/t silver
over 11.8 metres at 37 metres depth.
Early in the second quarter, exploration began in the
El Cochi area, which lies in the
800 metre wide area between the Main Zone and the La India Zone,
approximately 2 kilometres west of El Realito. The results
below are the first exploration results released by the Company for
the El Cochi project.
Recent drilling focused mainly on extending mineralized
intervals identified previously, as well as targeting intersections
of interpreted northwest- and northeast-striking structural
corridors. An example of mineralization in a vertical breccia
related to the faulting is hole INEC17-022 that intersected 3.00
g/t gold and 41 g/t silver over 4.6 metres at 37 metres depth, and
2.39 g/t gold and 6 g/t silver over 10.9 metres at 106 metres
depth. Approximately 300 metres to the northwest, INEC17-029
intersected shallow mineralization in a fragmental volcanic rock,
dacitic lithic tuff; the hole intersected 0.70 g/t gold and 3 g/t
silver over 18.0 metres at 11 metres depth.
It is anticipated that these results and further exploration
drilling could significantly increase the mineral resources near
the existing La India pits.
Chipriona Zone
The Chipriona satellite target is located approximately one
kilometre north of La India. Agnico Eagle acquired the
Chipriona property in December 2016. Mineralization at
Chipriona consists of what appears to be structurally controlled
gold and silver rich veins, stringers and breccia with significant
sulphide zinc, lead and copper content. A diamond drill
program on Chipriona began in the second quarter of 2017.
Complete assay results have been received for the first seven drill
holes; selected results are included in this new release.
Initial results at Chipriona have been encouraging.
Surface mapping and sampling have traced the Chipriona
structural and mineralized corridor over a northwest strike length
of at least 2,000 metres. Surface rock samples have returned
assay values up to 36.80 g/t gold and more than 1,500 g/t
silver.
The first nine drill holes of the program have confirmed
significant gold and silver mineralization along 1,200 metres of
the corridor and from surface to a depth of 150 metres.
Strong mineralization has been intersected near surface for
significant widths, such as hole CHP17-003 that intersected 2.47
g/t gold and 112 g/t silver over 19.3 metres at 40 metres
depth.
As well, exploration potential of lower-grade mineralization was
confirmed with drill hole CHP17-001 that intersected 0.58 g/t gold
and 157 g/t silver over 6.3 metres at 44 metres depth.
The mineralized system remains open along strike, and shows
significant potential at depth; parallel mineralized structures
have not yet been tested. The drill program is currently
testing extensions of the mineralized system.
El Barqueno – Azteca-Zapoteca Zone Extended More Than 1,000
Metres onto Cuauhtémoc Claim
Agnico Eagle acquired its 100% interest in the El Barqueno
project in November 2014. The 63,997-hectare property is in
the Guachinango gold-silver mining
district of Jalisco State in west-central, Mexico, approximately 150 kilometres west of
the state capital of Guadalajara. Exploration results for El
Barqueno were last reported in the Company's news release dated
February 15, 2017.
The El Barqueno project contains a number of known mineralized
zones and several prospects. The project contains 301,100
ounces of gold in indicated mineral resources (8.4 million tonnes
grading 1.11 g/t gold) and 362,000 ounces of gold in inferred
mineral resources (7.2 million tonnes grading 1.56 g/t gold) as of
December 31, 2016. The
indicated mineral resources are in the Azteca-Zapoteca and
Pena de Oro zones, while the
inferred mineral resources are in these two zones as well as the
Angostura Zone, the Olmeca area (Socorro vein) and the El Rayo prospect.
From January through July 2017,
30,699 metres of drilling (91 holes) was completed with a focus on
the extension of the Azteca-Zapoteca Zone, as well as at the
Tecolote.
Gold and silver grades of recent intercepts from the recently
explored Cuauhtémoc area are set out in the table below; the drill
hole collar coordinates are set out in a table in the Appendix of
this news release and the collars are located on the El Barqueno
Project Local Geology Map. All intercepts reported for the El
Barqueno project show capped or uncapped grades (depending on the
zone) over estimated true widths, based on a preliminary geological
interpretation that will be updated as new information becomes
available with further drilling.
Selected recent exploration drill results from the El
Barqueno project
Drill Hole
|
Zone
|
From
(metres)
|
To
(metres)
|
Depth of
midpoint
below
surface
(metres)
|
Estimated
true width
(metres)
|
Gold grade
(g/t)
(uncapped)
|
Silver
grade (g/t)
(uncapped)
|
Copper
grade (%)
(uncapped)
|
AZP17-336*
|
Cuauhtémoc
|
204.0
|
211.0
|
201
|
4.1
|
1.78
|
46
|
0.43
|
AZP17-339*
|
Cuauhtémoc
|
130.0
|
155.3
|
145
|
18.8
|
0.94
|
12
|
0.73
|
including**
|
|
139.0
|
145.0
|
154
|
4.2
|
3.14
|
34
|
2.64
|
AZP17-341***
|
Cuauhtémoc
|
7.3
|
31.0
|
6
|
11.9
|
0.47
|
90
|
1.16
|
and***
|
Cuauhtémoc
|
86.0
|
94.0
|
82
|
5.1
|
1.12
|
104
|
0.09
|
AZP17-351**
|
Cuauhtémoc
|
240.8
|
254.5
|
195
|
9.7
|
3.86
|
31
|
0.69
|
including**
|
|
246.4
|
254.5
|
201
|
5.7
|
6.32
|
45
|
0.99
|
AZP17-353***
|
Cuauhtémoc
|
138.0
|
150.5
|
135
|
8.0
|
1.19
|
68
|
0.64
|
including**
|
|
139.5
|
146.0
|
133
|
4.2
|
2.19
|
108
|
0.93
|
AZP17-361
|
Cuauhtémoc
|
166.9
|
175.4
|
166
|
4.9
|
1.93
|
34
|
0.80
|
AZP17-363
|
Cuauhtémoc
|
31.0
|
47.0
|
34
|
12.3
|
1.44
|
69
|
0.21
|
including**
|
|
32.0
|
43.0
|
35
|
8.4
|
2.06
|
88
|
0.28
|
AZP17-368
|
Cuauhtémoc
|
167.8
|
181.0
|
148
|
9.3
|
1.66
|
61
|
0.75
|
including**
|
|
173.0
|
180.0
|
156
|
5.0
|
2.89
|
91
|
0.39
|
AZP17-370
|
Cuauhtémoc
|
347.0
|
360.0
|
254
|
6.9
|
0.86
|
23
|
0.49
|
including**
|
|
351.0
|
360.0
|
257
|
4.8
|
1.14
|
25
|
0.56
|
Grades in the
Cuauhtémoc area are uncapped; cut-off grades used for each interval
are:
|
* 0.2 g/t gold
|
** 0.4 g/t gold
|
*** 20
g/t silver
|
[El Barqueno Project – Local Geology Map]
Cuauhtémoc Area
The Cuauhtémoc area covers the southwest extension of the
Azteca-Zapoteca Zone. Surface mapping, sampling and drilling
have extended the gold-bearing Azteca structure by more than 1,000
metres to approximately 2,000 metres of east-west strike length
immediately west of the 1,400-metre-long, northeast-striking
Azteca-Zapoteca resource area, which means that the combined strike
length of the Cuauhtemoc-Azteca-Zapoteca mineralized system is now
3.4 kilometres long. In early March
2017, two drills began an initial 10,000 metre systematic
drill program on an 80-metre grid pattern along a one kilometre
strike length of the Azteca structure at Cuauhtémoc to a depth of
200 metres. The number of drills has since been increased to
three.
Recent diamond drilling at Cuauhtémoc has intersected the Azteca
structure where it joins the Azteca vein, and they are partly
overlain by up to 20 metre thick younger basaltic flows. This
vein progressively increases toward the west in its proportion of
silver compared with gold, creating a wide, silver-mineralized
envelope surrounding the central gold grades; this envelope extends
up to tens of metres into the footwall and hanging-wall of the vein
material. Also noteworthy is the increasing base metal grade
(copper, lead and zinc) in this area; the highest grades of base
metals are associated with the flexure where the Azteca structure
joins the Azteca-Zapoteca Zone.
In the eastern part of the Cuauhtémoc area are three holes that
are only 80 metres west of the current Azteca zone intercepts, with
strong mineralization between 34 and 201 metres depth. For
example, hole AZP17-339 intersected 0.94 g/t gold and 12 g/t silver
over 18.8 metres at 145 metres depth, including 3.14 g/t gold and
34 g/t silver over 4.2 metres.
Approximately 340 metres west of AZP17-339 are three holes with
intercepts of strong gold and silver grades at moderate depths,
such as hole AZP17-368 that intersected 1.66 g/t gold and 61 g/t
silver over 9.3 metres at 148 metres depth, including 2.89 g/t gold
and 91 g/t silver over 5.0 metres. These intersections
confirm the continuity of the mineralization along the Azteca
structure in the Cuauhtémoc area.
In the western extent of the Cuauhtémoc area approximately 160
metres west of AZP17-368, hole AZP17-351 intersected 3.86 g/t gold
and 31 g/t silver over 9.7 metres at 195 metres depth, including
6.32 g/t gold and 45 g/t silver over 5.7 metres.
The farthest west drill results released to date are in hole
AZP17-370 that reported 0.86 g/t gold and 23 g/t silver over 6.9
metres at 254 metres depth. This is the deepest mineralized
intersection in the western edge of the explored portion of the
Azteca structure, leaving the mineralized structure open in this
direction and at depth.
A deeper drill program has been planned as part of a follow-up
program to test these extensions to the mineralized zone.
Tecolote
The current drill program, totaling 2,000 metres, is aimed at
testing three polymetallic and precious metal-rich (gold, silver
and copper) veins (Veta Grande,
Veta Carmelita and Veta San Eusebio). Surface mapping and
sampling has defined an area of moderate to strong argillic
alteration within feldspar-phyric andesite flows and a monzonite
intrusion surrounding the veins; a channel sample of a vein hosted
by andesite reported values up to 19.85 g/t gold and 386 g/t silver
over 1 metre. Drill results in this area will be reported
when the initial drill program in completed.
Additional Information
Negotiations continue to finalize short- and long-term surface
rights agreements for key areas for future exploration around the
project.
Approximately 14,000 metres of additional drilling is expected
to be completed by the end of 2017 at El Barqueno, principally at
the Olmeca, Tierra Blanca,
Azteca-Zapoteca, Cuauhtémoc, San
Diego, Peña de Oro and Peña Blanca sectors in the central El
Barqueno property, and the El Rayo
prospects and the Tecolote-Tortuga areas in the south area of the
El Barqueno project. Exploration expenditures in 2017 are
expected to total approximately $16.8
million.
Agnico Eagle believes that El Barqueno ultimately has the
potential to be developed into a series of open pits utilizing heap
leach and/or mill processing, similar to the Pinos Altos mine. Conceptual mine design
studies and additional metallurgical testing are ongoing at El
Barqueno.
About Agnico Eagle
Agnico Eagle is a senior Canadian gold mining company that has
produced precious metals since 1957. Its eight mines are
located in Canada, Finland and Mexico, with exploration and development
activities in each of these countries as well as in the United States and Sweden. The
Company and its shareholders have full exposure to gold prices due
to its long-standing policy of no forward gold sales. Agnico
Eagle has declared a cash dividend every year since 1983.
Further Information
For further information regarding Agnico Eagle, contact Investor
Relations at info@agnicoeagle.com or call (416) 947-1212.
Forward-Looking Statements
The information in this news release has been prepared as at
September 1, 2017. Certain
statements contained in this news release constitute
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
"forward-looking information" under the provisions of Canadian
provincial securities laws and are referred to herein as
"forward-looking statements". When used in this news release,
the words "anticipate", "could", "estimate", "expect", "forecast",
"future", "indicate", "plan", "possible", "potential", "will" and
similar expressions are intended to identify forward-looking
statements. Such statements include, without limitation: the
Company's forward-looking project timelines; the estimated timing
and conclusions of technical reports and other studies; the methods
by which ore might be extracted or processed; statements concerning
the Company's plans to build operations at Amaruq, including the
timing and funding thereof; statements concerning other expansion
projects and projected exploration expenditures, including costs
and other estimates upon which such projections are based;
statements regarding timing and amounts of capital expenditures and
other assumptions; estimates of future mineral reserves, mineral
resources, mineral production, optimization efforts and sales;
estimates of mine life; estimates of future capital expenditures;
statements as to the projected development of certain ore deposits,
including estimates of exploration, development and production and
other capital costs and estimates of the timing of such
exploration, development and production or decisions with respect
to such exploration, development and production; estimates of
mineral reserves and mineral resources and the upgrading or
expansion thereof; statements regarding the Company's ability to
obtain the necessary permits and authorizations in connection with
its exploration, development and mining operations and the
anticipated timing thereof; statements regarding anticipated future
exploration; the anticipated timing of events with respect to the
Company's mine sites and other statements regarding anticipated
trends with respect to the Company's operations, exploration and
the funding thereof. Such statements reflect the Company's
views as at the date of this news release and are subject to
certain risks, uncertainties and assumptions, and undue reliance
should not be placed on such statements. Forward-looking
statements are necessarily based upon a number of factors and
assumptions that, while considered reasonable by Agnico Eagle as of
the date of such statements, are inherently subject to significant
business, economic and competitive uncertainties and
contingencies. The material factors and assumptions used in
the preparation of the forward looking statements contained herein,
which may prove to be incorrect, include, but are not limited to,
the assumptions set forth herein and in management's discussion and
analysis ("MD&A") and the Company's Annual Information Form
("AIF") for the year ended December 31,
2016 filed with Canadian securities regulators and that are
included in its Annual Report on Form 40-F for the year ended
December 31, 2016 ("Form 40-F") filed
with the U.S. Securities and Exchange Commission (the "SEC") as
well as: that there are no significant disruptions affecting
operations; that production, permitting, development and expansion
at each of Agnico Eagle's properties proceeds on a basis consistent
with current expectations and plans; that the relevant metal
prices, foreign exchange rates and prices for key mining and
construction supplies will be consistent with Agnico Eagle's
expectations; that Agnico Eagle's current estimates of mineral
reserves, mineral resources, mineral grades and metal recovery are
accurate; that there are no material delays in the timing for
completion of ongoing growth projects; that the Company's current
plans to optimize production are successful; and that there are no
material variations in the current tax and regulatory
environment. Many factors, known and unknown, could cause the
actual results to be materially different from those expressed or
implied by such forward looking statements. Such risks
include, but are not limited to: the volatility of prices of gold
and other metals; uncertainty of mineral reserves, mineral
resources, mineral grades and mineral recovery estimates;
uncertainty of future production, project development, capital
expenditures and other costs; foreign exchange rate fluctuations;
financing of additional capital requirements; cost of exploration
and development programs; mining risks; community protests; risks
associated with foreign operations; the unfavorable outcome of
litigation involving the Canadian Malartic General Partnership;
governmental and environmental regulation; the volatility of the
Company's stock price; and risks associated with the Company's
currency, fuel and by-product metal derivative strategies.
For a more detailed discussion of such risks and other factors that
may affect the Company's ability to achieve the expectations set
forth in the forward-looking statements contained in this news
release, see the AIF and MD&A filed on SEDAR at www.sedar.com
and included in the Form 40-F filed on EDGAR at www.sec.gov, as
well as the Company's other filings with the Canadian securities
regulators and the SEC. Other than as required by law, the
Company does not intend, and does not assume any obligation, to
update these forward-looking statements.
Notes to Investors Regarding the Use of Mineral
Resources
Cautionary Note to Investors Concerning Estimates of Measured
and Indicated Mineral Resources
This news release uses the terms "measured mineral resources"
and "indicated mineral resources". Investors are advised that
while those terms are recognized and required by Canadian
regulations, the SEC does not recognize them. Investors
are cautioned not to assume that any part or all of mineral
deposits in these categories will ever be converted into
mineral reserves.
Cautionary Note to Investors Concerning Estimates of
Inferred Mineral Resources
This news release also uses the term "inferred mineral
resources". Investors are advised that while this term is
recognized and required by Canadian regulations, the SEC does not
recognize it. "Inferred mineral resources" have a great
amount of uncertainty as to their existence, and great uncertainty
as to their economic and legal feasibility. It cannot be
assumed that all or any part of an inferred mineral resource will
ever be upgraded to a higher category. Under Canadian rules,
estimates of inferred mineral resources may not form the basis of
feasibility or pre-feasibility studies, except in rare cases.
Investors are cautioned not to assume that any
part or all of an inferred mineral resource
exists, or is economically or legally mineable.
Scientific and Technical Data
Guy Gosselin, Vice-President
Exploration for the Company, approved the scientific and technical
information related to exploration in this news release. Mr.
Gosselin is a qualified person as defined by National Instrument
43-101 Standards of Disclosure for Mineral Projects ("NI
43-101").
Daniel Doucet, Senior Corporate
Director, Reserve Development for the Company, approved the
scientific and technical information related to the Company's
mineral reserves and mineral resources. Mr. Doucet is a
qualified person as defined by NI 43-101.
Cautionary Note To U.S. Investors - The SEC permits U.S.
mining companies, in their filings with the SEC, to disclose only
those mineral deposits that a company can economically and legally
extract or produce. Agnico Eagle reports mineral reserve and
mineral resource estimates in accordance with the Canadian
Institute of Mining, Metallurgy and Petroleum Best Practice
Guidelines for Exploration and Best Practice Guidelines
for Estimation of Mineral Resources and Mineral
Reserves, in accordance with NI 43-101. These standards
are similar to those used by the SEC's Industry Guide No. 7, as
interpreted by Staff at the SEC ("Guide 7"). However, the
definitions in NI 43-101 differ in certain respects from those
under Guide 7. Accordingly, mineral reserve information
contained herein may not be comparable to similar information
disclosed by U.S. companies. Under the requirements of the
SEC, mineralization may not be classified as a "reserve" unless the
determination has been made that the mineralization could be
economically and legally produced or extracted at the time the
reserve determination is made. A "final" or "bankable"
feasibility study is required to meet the requirements to designate
mineral reserves under Industry Guide 7. Agnico Eagle uses
certain terms in this news release, such as "measured",
"indicated", "inferred" and "resources" that the SEC guidelines
strictly prohibit U.S. registered companies from including in their
filings with the SEC.
NI 43-101 requires mining companies to disclose mineral reserves
and mineral resources using the subcategories of "proven mineral
reserves", "probable mineral reserves", "measured mineral
resources", "indicated mineral resources" and "inferred mineral
resources". Mineral resources that are not mineral reserves
do not have demonstrated economic viability.
A mineral reserve is the economically mineable part of a
measured and/or indicated mineral resource. It includes
diluting materials and allowances for losses, which may occur when
the material is mined or extracted and is defined by studies at
pre-feasibility or feasibility level as appropriate that include
application of modifying factors. Such studies demonstrate
that, at the time of reporting, extraction could reasonably be
justified. The mineral reserves presented in this news
release are separate from and not a portion of the mineral
resources.
Modifying factors are considerations used to convert mineral
resources to mineral reserves. These include, but are not
restricted to, mining, processing, metallurgical, infrastructure,
economic, marketing, legal, environmental, social and governmental
factors.
A proven mineral reserve is the economically mineable part of a
measured mineral resource. A proven mineral reserve implies a
high degree of confidence in the modifying factors. A
probable mineral reserve is the economically mineable part of an
indicated and, in some circumstances, a measured mineral
resource. The confidence in the modifying factors applying to
a probable mineral reserve is lower than that applying to a proven
mineral reserve.
A mineral resource is a concentration or occurrence of solid
material of economic interest in or on the Earth's crust in such
form, grade or quality and quantity that there are reasonable
prospects for eventual economic extraction. The location,
quantity, grade or quality, continuity and other geological
characteristics of a mineral resource are known, estimated or
interpreted from specific geological evidence and knowledge,
including sampling.
A measured mineral resource is that part of a mineral resource
for which quantity, grade or quality, densities, shape and physical
characteristics are estimated with confidence sufficient to allow
the application of modifying factors to support detailed mine
planning and final evaluation of the economic viability of the
deposit. Geological evidence is derived from detailed and
reliable exploration, sampling and testing and is sufficient to
confirm geological and grade or quality continuity between points
of observation. An indicated mineral resource is that part of
a mineral resource for which quantity, grade or quality, densities,
shape and physical characteristics are estimated with sufficient
confidence to allow the application of modifying factors in
sufficient detail to support mine planning and evaluation of the
economic viability of the deposit. Geological evidence is
derived from adequately detailed and reliable exploration, sampling
and testing and is sufficient to assume geological and grade or
quality continuity between points of observation. An inferred
mineral resource is that part of a mineral resource for which
quantity and grade or quality are estimated on the basis of limited
geological evidence and sampling. Geological evidence is
sufficient to imply but not verify geological and grade or quality
continuity.
Investors are cautioned not to assume that part or all of an
inferred mineral resource exists, or is economically
or legally mineable.
A feasibility study is a comprehensive technical and economic
study of the selected development option for a mineral project that
includes appropriately detailed assessments of applicable modifying
factors, together with any other relevant operational factors and
detailed financial analysis that are necessary to demonstrate, at
the time of reporting, that extraction is reasonably justified
(economically mineable). The results of the study may
reasonably serve as the basis for a final decision by a proponent
or financial institution to proceed with, or finance, the
development of the project. The confidence level of the study
will be higher than that of a pre-feasibility study.
Additional Information
Additional information about each of the mineral projects that
is required by NI 43-101, sections 3.2 and 3.3 and paragraphs
3.4(a), (c) and (d) can be found in Technical Reports, which may be
found at www.sedar.com. Other important operating information
can be found in the Company's AIF, MD&A and Form 40-F.
Property/Project
name
and location
|
Date of most
recent
Technical Report (NI
43-101) filed on
SEDAR
|
LaRonde, LaRonde 5
&
Ellison, Quebec, Canada
|
March 23,
2005
|
Canadian Malartic,
Quebec, Canada
|
June 16,
2014
|
Kittila, Kuotko
and
Kylmakangas, Finland
|
March 4,
2010
|
Meadowbank,
Nunavut,
Canada
|
February 15,
2012
|
Goldex, Quebec,
Canada
|
October 14,
2012
|
Lapa, Quebec,
Canada
|
June 8,
2006
|
Meliadine,
Nunavut,
Canada
|
February 11,
2015
|
Hammond Reef,
Ontario, Canada
|
July 2,
2013
|
Upper Beaver
(Kirkland Lake property), Ontario, Canada
|
November 5,
2012
|
Pinos Altos and
Creston Mascota, Mexico
|
March 25,
2009
|
La India,
Mexico
|
August 31,
2012
|
Appendix
Barsele project exploration drill collar coordinates of
selected holes
|
Drill collar
coordinates*
|
Drill hole
ID
|
UTM North
|
UTM East
|
Elevation
(metres
above sea
level)
|
Azimuth
|
Dip
(degrees)
|
Length
(metres)
|
AVA16-022
|
7215550
|
617321
|
306
|
221
|
-40
|
447
|
AVA16-024
|
7215718
|
616867
|
314
|
036
|
-45
|
75
|
AVA17-001
|
7215595
|
617227
|
312
|
041
|
-62
|
284
|
AVA17-004
|
7215617
|
617364
|
315
|
223
|
-47
|
472
|
AVA17-010
|
7215728
|
617349
|
329
|
218
|
-56
|
740
|
CNT16-011
|
7215376
|
618152
|
324
|
180
|
-52
|
651
|
CNT16-032
|
7214537
|
618952
|
327
|
036
|
-55
|
607
|
CNT17-006
|
7215291
|
618376
|
309
|
222
|
-50
|
618
|
CNT17-012
|
7214692
|
618496
|
335
|
40
|
-50
|
625
|
SKI16-002
|
7214411
|
619250
|
301
|
040
|
-55
|
899
|
SKI16-015
|
7214521
|
619300
|
292
|
042
|
-58
|
826
|
SKI17-003
|
7214520
|
619301
|
292
|
327
|
-54
|
772
|
*
|
Coordinate System
Sweref 99
|
La India mine area
exploration drill hole collar coordinates
|
Drill Hole Collar
Coordinates*
|
Drill Hole
ID
|
UTM North
|
UTM East
|
Elevation
(metres
above sea
level)
|
Azimuth
(degrees)
|
Dip
(degrees)
|
Length
(metres)
|
INMRC16-2262
|
3176300
|
706480
|
1,729
|
090
|
-70
|
140
|
INMRC17-2285
|
3176167
|
706999
|
1,710
|
000
|
-65
|
60
|
INMRC17-2287
|
3176600
|
706914
|
1,825
|
090
|
-80
|
112
|
INMRC17-2293
|
3176025
|
706550
|
1,647
|
000
|
-90
|
175
|
INMRC17-2303
|
3176275
|
706590
|
1,652
|
090
|
-75
|
217
|
INER16-001
|
3178037
|
708876
|
2,077
|
340
|
-70
|
233
|
INER16-003
|
3178200
|
708953
|
2,104
|
328
|
-60
|
222
|
INER16-008
|
3178038
|
708880
|
2,077
|
330
|
-75
|
268
|
INER16-010
|
3177768
|
709305
|
1,948
|
215
|
-60
|
81
|
INER16-018
|
3178154
|
708803
|
2,010
|
000
|
-90
|
266
|
INER17-073
|
3178375
|
709070
|
2,100
|
000
|
-50
|
110
|
INEC17-001
|
3178000
|
706640
|
1,650
|
270
|
-70
|
30
|
INEC17-022
|
3177887
|
706947
|
1,733
|
090
|
-50
|
123
|
INEC17-029
|
3178025
|
706700
|
1,666
|
090
|
-60
|
75
|
CHP17-001
|
3180948
|
706386
|
1,591
|
045
|
-45
|
201
|
CHP17-003
|
3180385
|
707029
|
1,541
|
045
|
-45
|
195
|
CHP17-006
|
3180813
|
706576
|
1,635
|
225
|
-45
|
156
|
CHP17-007
|
3180605
|
706731
|
1,568
|
225
|
-45
|
171
|
*
|
Coordinate System
UTM NAD27 Mexico 12 Zone
|
El Barqueno project exploration drill hole collar
coordinates
|
Drill Hole Collar
Coordinates*
|
Drill Hole
ID
|
UTM North
|
UTM East
|
Elevation
(metres
above sea
level)
|
Azimuth (degrees)
|
Dip
(degrees)
|
Length
(metres)
|
AZP17-336
|
553763
|
2279557
|
1,282
|
155
|
-70
|
298
|
AZP17-339
|
553847
|
2279571
|
1,241
|
155
|
-55
|
246
|
AZP17-341
|
553202
|
2279440
|
1,293
|
155
|
-60
|
191
|
AZP17-351
|
553147
|
2279567
|
1,305
|
155
|
-60
|
564
|
AZP17-353
|
553429
|
2279540
|
1,277
|
155
|
-53
|
284
|
AZP17-361
|
553340
|
2279513
|
1,253
|
155
|
-50
|
207
|
AZP17-363
|
553883
|
2279478
|
1,287
|
155
|
-52
|
114
|
AZP17-368
|
553332
|
2279537
|
1,300
|
155
|
-53
|
302
|
AZP17-370
|
552879
|
2279608
|
1,209
|
155
|
-55
|
423
|
*
|
Coordinate System
UTM WGS84 13N Zone
|
SOURCE Agnico Eagle Mines Limited