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Agnico Resources (TSX:AEM) has provided an update on exploration drilling results at its Amaruq gold project in Nunavut. As quoted in the press release: Highlights include: Overall mineral resources increased by 13% at the Amaruq project – Drilling in the first half of 2016 has resulted in an updated inferred mineral resource estimate of 3.71 million …
Agnico Resources (TSX:AEM) has provided an update on exploration drilling results at its Amaruq gold project in Nunavut.
As quoted in the press release:
Highlights include:
- Overall mineral resources increased by 13% at the Amaruq project – Drilling in the first half of 2016 has resulted in an updated inferred mineral resource estimate of 3.71 million ounces of gold (19.4 million tonnes grading 5.97 grams per tonne (“g/t”) gold) as of June 30, 2016. This represents an increase of 432,000 ounces (on a contained gold basis) compared to the December 31, 2015 estimate
- Open pit mineral resources increase by 33% – The updated estimate includes a 598,000-ounce increase (on a contained gold basis) in open pit inferred mineral resources to 2.42 million ounces gold (13.6 million tonnes grading 5.53 g/t), compared to the December 31, 2015 estimate.
- 319% expansion in the IVR deposit mineral resources; V Zone confirmed as potential second source of open pit ore – Contained gold in inferred mineral resources at the IVR deposit increased by 649,000 ounces (an increase of 319%) to 852,000 ounces (3.9 million tonnes grading 6.84 g/t gold) compared to the December 31, 2015 estimate. The IVR deposit contains 549,000 ounces of gold (2.5 million tonnes grading 6.71 g/t gold) within the overall open pit mineral resources –– The majority of this mineral resource is contained in the V Zone which has been traced down to 542 metres below surface and remains open at depth.