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Agnico Eagle Mines Ltd.
Summary
| Project: | Barsele | |
|---|---|---|
| Deposit: | Barsele | |
| Location: | Sweden | |
| 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 Barsele deposit at the Barsele project. Year-end update of mineral resoruces and ore reserves. Toronto (February 14, 2018) – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) ( | |
| Resources: | (Resource): 3.455Mt @ 1.25g/t Au (Ind.) + 10.241Mt @ 2.31g/t Au (Inf.) | |
| 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. 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 Barsele property is known to contain intrusive-hosted gold mineralization (the Central, Avan and Skiråsen zones) and gold-rich polymetallic volcanogenic massive sulphide mineralization (the Norra Zone). In 2017, a total of 123 diamond drill holes were completed for 58,281 metres. Drilling focused on expanding the mineral resources on the Central, Avan and Skiråsen zones that are now interpreted to be part of the same mineralized system extending over approximately 2.7 kilometres of strike length. These zones occur within a granodiorite that ranges in width from 200 to 500 metres over a strike length of more than eight kilometres. Gold is generally associated with arsenopyrite and low base metal content, but also occurs as native metal locally. | |
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