DAILY NEWS Nov 20, 2012 3:59 PM - 0 comments

GOLD: Meliadine resource grows

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2012-11-20

NUNAVUT – Toronto's Agnico-Eagle Mines says that the US$40-million, 2012 exploration program at the Meliadine gold project near Rankin Inlet has added significantly to the resource thanks to work done in the Wesmeg and Normeg zones.

The indicated resource at Wesmeg and Normeg has increased by 40% to 5.53 million tonnes grading 2.69 g/t Au, containing 479,000 oz. The inferred resource has grown 85% to 5.34 million tonnes grading 4.43 g/t Au, or 761,000 oz. Two high grade ore shoots have been confirmed at Normeg to go with the one that was earlier discovered.

The Tiriganiaq deposit at Meliadine continues to return high grade intercepts, said Agnico. The intercepts occurred both in resource conversion and exploration drilling programs.

The company says that road construction to the site is 50% complete, on budget and on schedule for completion in April 2013.

Additional information about the Meliadine gold project is posted at Agnico-Eagle.com.

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Agnico Eagle Mines Limited

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