Markets

Agnico-Eagle Mines files new technical report on Goldex confirming reclassification of reserves

Agnico-Eagle Mines Limited (AEM.TO), which lost 1% on Monday, announced updated mineral resource data as at October 19, 2011 for its Goldex mine. In a press release dated October 19, 2011, the company previously announced its intention to reclassify all of the proven and probable gold reserves at Goldex, other than the ore stockpiled on surface, as mineral resources. The reclassification was confirmed in a new technical report compliant with the Canadian Securities Administrators' National Instrument 43-101 with respect to the reserve and resource estimates at the Goldex mine, filed by the Company.

As at October 19, 2011, there was a proven mineral reserve of approximately 4,000 ounces of gold contained in approximately 77,000 tonnes grading 1.70 g/t in ore stockpiled on surface. As at October 30, 2011, all of the ore in the stockpile had been processed through the mill.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos