QUEBEC – Agnico Eagle Mines of Toronto has resumed mining and milling at its Goldex gold mine near Val d'Or. Work is underway on satellite deposits, and the first bullion pour is expected in October 2013. The property is expected to produce 15,000 oz of gold in the last quarter of the year.
Mining was suspended in the Goldex Extension zone (GEZ) in October 2011 because of poor ground conditions. The GEZ, the first area of the mine to be developed, remains suspended.
In July 2012, Agnico Eagle approved the development of the M and E satellite zones, and it is from these areas that ore is being mucked. The M and E zones have proven and probable reserves of 7.0 million tonnes at 1.6 g/t Au or 349,000 oz, enough to support a four year mine life. Annual output will be 85,000 oz of gold at a total cash cost of US$900 per oz.
The cost of developing the satellite zones was US$68 million. The zones will be mined using long hole stoping with paste fill. The new paste plant is to be fully commissioned later this month. The backfill plant has a capacity of 7,000 t/d and can be expanded in the future.
A composite longitudinal section of the Goldex mine is posted at AgnicoEagle.com in the news release dated Sept. 19, 2013.
Agnico is an exciting mining company –aggressive and creative and very impressive–D.