GOLD: Whale Tail grows at Agnico’s Amaruq

NUNAVUT – Agnico Eagle Mines of Toronto has completed a 144-hole drill program at the Amaruq gold project 50 km northwest of its Meadowbank mine. The company signed an exploration agreement with Nunavut Tunngavik Inc. giving it a 100% in the property that lies within Inuit owned land.

The focus during the last half of 2014 was the Whale Tail zone that was extended 200 metres farther to the southwest and the intersection of an additional mineralized horizon. The strike length is now 1.2 km. Drilling intersected high grade gold mineralization in several discrete horizons from surface to a depth of 350 metres. Of particular interest are separate holes that cut 7.6 g/t Au over 23.2 metres, 8.2 g/t over 6.7 metres, and 10.8 g/t over 11.9 metres.

Two other holes west of Whale Tail are also worth noting. One intersected four horizons of which the first two were 13.7 g/t over 5.3 metres and 5.3 g/t over 13.4 metres. The other cut four horizons and assayed 5.7 g/t over 15.6 metres, including 12.5 g/t over 4.6 metres.

East of Whale Tail two holes also returned high grades – 24.1 g/t Au over 3.5 metres, 10.8 g/t over 11.9 metres, 16.5 g/t over 3.1 metres and 8.7 g/t over 3.0 metres.

Agnico expects to produce an initial resource estimate early next year, little over a year after the discovery of Amaruq.

Complete details of the recent drill program are available at AgnicoEagle.com.