In the United States, we are evaluating and searching across continental United States and in Alaska for quality exploration and mine development opportunities. Our 2016 exploration budget of $3.4 million is focused on the West Pequop project and the nearby Summit project, both in Nevada, as well as outside exploration opportunities.
PQX, Summit and West Pequop: Three properties - PQX, Summit (both 100% owned by Agnico Eagle) and West Pequop (a 51% Agnico-49% Newmont joint venture, operated by Agnico Eagle) - are adjacent to Newmont’s Long Canyon mine development in northeast Nevada. There is potential for gold in high-grade feeder structures in an extension of the Long Canyon deposit. West Pequop has historic gold resources, with the potential for growth. We plan to spend $1.1 million in 2016 on 2,000 metres of reverse circulation drilling at Summit, as well as on land-holding fees and environmental compliance for the properties.