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Agnico Eagle Mines Ltd.
Summary
| Project: | Amaruq | |
|---|---|---|
| Deposit: | Amaruq | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/15/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-2-2018: Agnico Eagle Mines Ltd. announces a Resource Estimation report for its Amaruq deposit at the Amaruq project. Year-end mineral resource and ore reserve update. Toronto (February 14, 2018) – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) ("Agnico | |
| Resources: | (Reserve, Prov.): 20.063Mt @ 3.67g/t Au for 2.366Moz Au contained at Amaruq | |
| CP/QP: | [Resources]: Daniel Doucet (Internal) | |
| ABSTRACT: | Toronto (February 14, 2018) – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) ("Agnico Eagle" or the "Company") today reported quarterly net income of $35.1 million, or net income of $0.15 per share for the fourth quarter of 2017. This result includes mark-tomarket adjustments and derivative losses of $1.0 million ($0.01 per share), non-recurring losses of $6.8 million ($0.03 per share) and non-cash foreign currency translation losses of $5.5 million ($0.02 per share). Excluding these items would result in adjusted net income1 of $48.4 million ($0.21 per share) for the fourth quarter of 2017. Agnico Eagle has a 100% interest in the Amaruq satellite deposit, approximately 50 kilometres northwest of the Meadowbank mine. Amaruq is situated on a 99,878-hectare property, almost adjacent to the 68,735-hectare Meadowbank property. Development of the Amaruq property was approved in February 2017 by the Company’s Board of Directors as a satellite deposit to supply ore to the existing Meadowbank mill, pending the receipt of the required permits. The results of an internal technical study on the Amaruq project were described earlier in this news release. The second phase of the 2017 Amaruq drill program commenced in July and was completed in mid-December. Exploration at depth continued on both the Whale Tail deposit and V Zone, well below the planned pit depths. In the fourth quarter of 2017, the Company drilled an additional 8,746 metres in 23 drill holes at the Amaruq project. The total drilling for the year is 97,963 metres (463 holes). Results from the program were last reported in the Company's news release dated October 25, 2017. | |
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