FINLAND – The feasibility study is nearing completion on the Suurikuusikko gold property belonging to Toronto-based AGNICO-EAGLE MINES, and a production decision is expected by the middle of this year. The property in northern Finland has probable reserves of 2.3 million oz of gold. It was added to Agnico’s portfolio when that company acquired RIDDARHYTTAN RESOURCES in 2005.
Agnico estimates that capital expenditures to put a 3,000-tonne/day open pit into production would be US$170 million. Mining would later move underground. Measured and indicated resources are 1.9 million tonnes grading 4.2 g/t Au. There is also an inferred resource with 6.7 million tonnes at 4.4 g/t Au. The geology is said to be similar to the Cadillac-Bousquet gold belt in northern Ontario.
More information about the project is posted at www.Agnico-Eagle.com.