Ontario and Quebec
Following the acquisition of Osisko Mining Corporation in June 2014, equal partners Agnico Eagle Mines and Yamana Gold have been jointly exploring and considering the development potential of the jointly-owned Kirkland Lake assets and Hammond Reef project in Ontario as well as other properties.
Care and maintenance
Among the Kirkland Lake properties, the most advanced exploration program is at the Upper Beaver underground deposit, where Agnico Eagle’s portion consists of indicated resources of 4.4 million tonnes grading 6.36 g/t gold and 0.36% copper (containing 0.9 million ounces of gold), and inferred resources of 3.5 million tonnes grading 5.94 g/t gold and 0.42% copper (containing 0.7 million ounces of gold). Recent work has also been carried out at the Amalgamated Kirkland (AK) deposit where Agnico Eagle’s portion consists of indicated resources of 0.6 million tonnes grading 6.51 g/t gold (containing 0.1 million ounces of gold), and inferred resources of 1.2 million tonnes grading 5.32 g/t gold (containing 0.2 million ounces of gold).
The properties lie within the southern Abitibi Greenstone Belt of the Superior Province of the Canadian Shield. The area is underlain by an east-west-trending linear Timiskaming assemblage comprised of volcanic and sedimentary rocks as well as synvolcanic intrusion emplacements consisting typically of diorite, syenite, quartz-feldspar porphyries and monzonite. The assemblage, deposited in a sub-aerial to shallow marine arc-rift environment, is typically bound to the south by the Larder-Cadillac Break (LCB) – which is a major east-trending, south-dipping regional structure that juxtaposed Tisdale mafic to ultramafic rocks (south of the fault) against much younger Timiskaming sedimentary rocks. The LCB lies within the Larder Cadillac Deformation Zone (LCDZ), which is a wide structural zone cutting across several lithologies.
The main deposits on the properties are:
Hammond Reef is a gold exploration project in northwest Ontario that we own jointly with our partner Yamana Gold. Agnico Eagle’s 50% portion consists of measured and indicated resources of 104 million tonnes grading 0.67 g/t gold (containing 2.3 million ounces of gold), and inferred resources of 0.3 million tonnes grading 0.74 g/t gold (containing 0.01 million ounces of gold), using a cut-off gold grade of 0.32 g/t, as of December 31, 2015. The 31,113-hectare property is located in the Thunder Bay Mining District, within Treaty 3 lands, the traditional territory of the Anishinaabe people. It is also located within an area recognized by the Métis Nation of Ontario as Region 1 traditional harvesting territory.