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Agnico Eagle Mines Ltd.
Summary
| Project: | Canadian Malartic Mine | |
|---|---|---|
| Deposit: | Odyssey | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 7/27/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-7-2016: Agnico Eagle Mines Ltd. announces an Exploration/Drilling Update report for its Odyssey deposit at the Canadian Malartic Mine project. JV with Yamana Gold Inc. - drill results incl. 78.1m @ 3.66g/t Au (uncapped, estimated truth width). The Odys | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Alain Blackburn, Guy Gosselin (Internal) | |
| ABSTRACT: | The Odyssey prospect lies on the east side of the Canadian Malartic property in northwestern Quebec, approximately 1.5 kilometres east of the current limit of the Canadian Malartic open pit. The Canadian Malartic property is owned by the Canadian Malartic General Partnership (the 11 “Partnership”) in which Agnico Eagle and Yamana Gold Inc. each have an indirect 50% ownership interest. This news release discloses some of the first drill results from Odyssey since it was first acquired in June 2014. The Odyssey Zone is composed of multiple mineralized bodies spatially associated with a porphyritic intrusion, “Porphyry 12”, close to the contact of the Pontiac Group sediments and the Piché Group of volcanic rocks. They are grouped into two elongated zones — the Odyssey North and Odyssey South zones — which strike east-southeast and dip south. Odyssey North has been traced from a depth of 600 to 1,300 metres below surface along a strike length of approximately 1.5 kilometres. Odyssey South has a strike length of 0.5 kilometres, and has been located between approximately 200 and 550 metres depth. Gold occurs preferentially along lithological contacts but also within the porphyry. The Odyssey mineralization appears to be controlled by structures associated with the Sladen Fault or its splays. The gold mineralization is associated with an alteration halo of feldspar-hematitesericite and local silica with 1-3% disseminated pyrite. Grades are in the range of 1.5 to 3.0 g/t gold, but higher grades are observed locally within stockwork and silicified breccia zones. The Partnership’s initial budget in 2016 was C$8.0 million for approximately 60,000 metres of drilling to infill and expand the known mineralized zones on the Odyssey prospect. To the end of June, 57 holes (53,417 metres) have been completed. | |
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