NUNAVUT – Agnico Eagle Mines of Toronto says that drilling on the Amaruq project has filled the gap under Whale Lake with significant gold grades and good widths. Drilling has also confirmed a new gold structure north of the Whale Tail deposit.
The Amaruq project is located about 300 km west of Hudson Bay and 50 km northwest of Agnico's Meadowbank gold mine.
In February 2015, the company estimated that the Amaruq property contained 1.5 million inferred oz of gold in 6.6 million tonnes at 7.07 g/t Au. That number is expected to increase when the updated 43-101 study is done later this year. Drilling has been completed to a depth of 200 metres in the Whale Tail deposit. Assays include 19.8 g/t Au over 5.0 metres at 130 metres deep, and 15.9 g/t over 14.6 metres at 126 metres deep. The Whale Tail deposit has been defined over at least 1.2 km on strike and from surface to more than 370 metres deep. It remains open at depth and to the southwest.
The new mineralized structure is hosted by a different sedimentary rock unit than the Whale Tail resource envelope 100 to the southeast. Drilling returned 6.1 g/t Au over 4.0 metres at 284 metres deep, and 9.7 g/t over 3.8 metres at 306 metres deep. This structure has been intersected by four holes to date along 800 metres of strike length and to a depth of 350 metres.
Agnico will continue to drill at Amaruq project, and said that thought is being given to development as a satellite operation to Meadowbank.
Additional information about the advanced Amaruq project is available at AgnicoEagle.com.