VAL-D’OR, QUEBEC — With the declaration of first commercial production from the Deep 1 project, Agnico Eagle Mines (TSX: AEM: NYSE: AEM) has entered a new era in the life of its wholly owned Goldex underground gold mine, just 2.5 km west of Val-d’Or, Quebec.
The Deep 1 project centres on the D-1 (or Upper D) zone. It is 850 to 1,200 metres below surface, and will be mined at a rate of 6,000 tonnes per day, producing 100,000 oz. gold annually from 2018 through 2024 at a cash cost of US$610 to US$630 per ounce.
The production from D-1 adds to ongoing production from the MMx zone, which is 50 to 370 metres from surface, and the deeper E zone, which lies just above and offset from the D-1 zone at 670 to 850 metres deep, and is accessible from the bottom of the mine’s 800-metre Main shaft.
Geologically, there is a sequence of steeply dipping mafic to ultramafic rocks that underlie the Goldex property and have been intruded by a large, table shaped quartz-diorite body known as the “Goldex granodiorite” that dips steeply northeast. Most of the gold occurs in stockwork veins as microscopic particles associated with pyrite. The rest is coarse, native gold.
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