International miner pumps up gold exploration efforts on all its properties
A gold deposit near Kirkland Lake will be getting some extra attention by Agnico Eagle this year.
Surging gold prices has the international miner embarking on its “most ambitious exploration program in the company’s history” in budgeting $163 million in 2021 for its operating mines and projects in the development pipeline.
Approximately $14 million of it is being funnelled into its Kirkland Lake Project and a 52,200-metre program, mostly directed at the Upper Beaver deposit. Agnico announced its aggressive gold-finding plans in releasing its 2020 fourth-quarter and year-end results on Feb. 11.
The company’s global strategy is to fully evaluate and maximize the gold potential of its operating mines and exploration properties. That means more drilling to convert gold resources into gold reserves and to replenish the roster of its up-and-coming gold prospects.
At Kirkland Lake, Agnico wants to see if Upper Beaver has open-pit potential in springboarding off last year’s successful 14,700-metre program.