Agnico Eagle looks underground at Detour Lake pit – by Ian Ross (Northern Ontario Business – June 20, 2024)

Agnico Eagle sizes up $1-billion investment to construct underground exploration ramp, expand mill production

Agnico Eagle is on a path to upsize its Detour Lake mine, near the Quebec border, into a one-million-ounce per year gold producer.

The Toronto gold company has posted a preliminary economic assessment and a new mine plan that involves digging beneath its current open-pit operation to tap into a “high-grade core of mineralization” and follow a gold system that tracks west on its property.

Based on the numbers released in a new reserve and resource estimate, Agnico says there’s enough gold in the ground to keep operating until 2054, two more years than previously thought from the last mine plan published in 2022.

Agnico Eagle is one of Canada’s largest mining companies with mines and gold properties in the Abitibi region of northeastern Ontario and western Quebec, Canada’s Far North and Australia, Finland and Mexico. The Detour Lake pit is 185 kilometres, by road, northeast of Cochrane.

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