Our exploration activities in Europe centre around the Kittila mine in Finland. Kittila is Agnico Eagle’s largest gold asset by reserves, with strong expansion potential due to its large resources. The regional exploration focus is on the Kittila property as well as the Barsele project in northern Sweden, in which we acquired an interest in June 2015.
Kuotko: At the Kuotko deposit, located on the Kittila property approximately 15 km north of the Kittila mine, drilling is ongoing to infill and expand the existing inferred gold resource of approximately 169,000 ounces (1.8 million tonnes at 2.89 g/t gold) as of December 31, 2015. In addition, new mineralized zones have been identified outside the known resource areas. Metallurgical testing is underway and, unlike Kittila, the gold mineralization is free milling. Studies will be carried out to assess the viability of mining the deposit as a satellite open pit, once drilling has been completed.
Hanhimaa: The large Hanhimaa property encompasses a 20-km strike length of the Hanhimaa Shear Zone, which is parallel to and 10 km west of the Kiistala Shear Zone that hosts our Kittila gold mine. The Kiimalaki, Kellolaki and Kiimakuusikko prospects have been identified within the domain of strongly sheared and hydrothermally altered rocks in the northern portion of the Hanhimaa Shear Zone. We have an option to earn up to 70% interest in the property from Dragon Mining Ltd.