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Abitibi Royalties Inc.
Summary
| Project: | Canadian Malartic Mine | |
|---|---|---|
| Deposit: | Canadian Malartic Mine | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 3/19/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 19-3-2018: Abitibi Royalties Inc. announces a Resource Estimation report for its Canadian Malartic Mine deposit at the Canadian Malartic Mine project. Updated resource and reserve estimate for the project and 3 year production guidance. VAL-D'OR, Québec, | |
| Resources: | ||
| CP/QP: | [Overall Report]: Glenn Mullan (Internal) | |
| ABSTRACT: | VAL-D'OR, Québec, March 19, 2018 -- Abitibi Royalties Inc. (TSX-V:RZZ) (“Abitibi Royalties” or the “Company”) is pleased to announce the receipt of the year-end 2017 gold Reserve and Resource estimate completed by the Canadian Malartic Mine, operated by Agnico Eagle Mines Limited and Yamana Gold Inc., in respect of the Company's net smelter return (“NSR”) interests on various areas at the mine. These areas include portions of Odyssey, East Malartic, Barnat (East), Jeffrey and Gouldie (Fig. 1). In addition, Canadian Malartic has provided a 3 year production guidance schedule for areas covered by the Company’s NSR’s interests during the years 2018-2020. “When you look at the history of the gold mining sector the biggest contributors to shareholder returns are the game changing discoveries (Goldcorp: Red Lake Mine mid-1990’s) that are often combined with a paradigm shift in processing/mining technologies (Barrick: Goldstrike mid-1980’s/ Osisko: Canadian Malartic mid 2000’s). We have felt since 2014 that a similar situation existed with the bulk tonnage underground potential at Canadian Malartic, particularly the impressive growth we are now seeing at the Odyssey and East Malartic zones. When you combined good fundamentals, with a strong balance sheet, free cash flow and a small share count that goes down and not up, you are creating a unique company. There are numerous historical and new zones contained within our royalties at Canadian Malartic that remain to be confirmed and potentially included into the resource estimate, which leads me to believe that these discoveries will continue to grow in size,” stated Ian Ball, president and CEO. Information regarding the updated reserve and resource estimates for the areas where Abitibi Royalties holds an NSR interest was provided by Canadian Malartic by way of a "Surface Reserve and Resources Annual Reporting Letter to Abitibi Royalties". | |
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