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Agnico Eagle Mines Ltd.
Summary
| Project: | Kittila | |
|---|---|---|
| Deposit: | Sisar Zone | |
| Location: | Finland | |
| Commodities: | Gold | |
| Date: | 10/27/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-10-2016: Agnico Eagle Mines Ltd. announces an Exploration/Drilling Update report for its Sisar Zone deposit at the Kittila project. Drilling results incl. 12.7m @ 6.6g/t Au from 693.4m. The 100% owned Kittila mine in northern Finland achieved commercia | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Francis Brunet (Internal) | |
| ABSTRACT: | The 100% owned Kittila mine in northern Finland achieved commercial production in 2009. The Kittila mill processed an average of 4,837 tpd in the third quarter of 2016, compared to 3,937 tpd in the third quarter of 2015. The higher throughput in the 2016 period is a result of increased development leading to improved ore access and strong mining productivity. Minesite costs per tonne at Kittila were approximately €73 in the third quarter of 2016, compared to €72 in the third quarter of 2015. Costs increased in the third quarter of 2016 due to higher contractor costs and mill maintenance costs, compared to the 2015 period. These increased costs offset the benefit of the increased throughput. For the first nine months of 2016, the Kittila mill processed an average of 4,621 tpd, compared to 3,981 tpd in the first nine months of 2015. Minesite costs per tonne were approximately €75 in the first nine months of 2016, the same as in the comparable 2015 period. The higher throughput in the 2016 period was primarily due to the reasons outlined above. Third quarter 2016 payable gold production at Kittila was 54,835 ounces at total cash costs per ounce on a by-product basis of $663. In the third quarter of 2015, the mine produced 46,455 ounces at total cash costs per ounce on a by-product basis of $639. The higher production in the 2016 period is a result of the increased throughput levels compared to the 2015 period and the planned 2015 shutdown. Costs increased in the third quarter of 2016 primarily due to increased contractor, mill maintenance and rehandling costs. | |
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