Agnico-Eagle plans expansion programs

Expansion is planned for three projects held by Agnico-Eagle Mines (TSE) in northwestern Quebec.

Mine development work on the No. 2 shaft at LaRonde division, near Val d’Or, Que., is moving forward, with initial gold production from Zone 6 expected in the second half of 1995.

In addition, the No. 1 shaft is being extended and is expected to reach its targeted depth of 4,200 ft. by November. Construction of the No. 3 shaft will begin in July. These shafts will be used to gain access to mineralization on the eastern part of the property.

Meanwhile, development and underground exploration are under way on the 20th level. This year, Agnico plans to carry out 63,000 ft. of underground drilling from two new exploration crosscuts, focusing on the 7, 19, 20 North and 20 South zones.

LaRonde contains an estimated 1 million oz. of proven and probable reserves, plus a potential gold resource of 3.3 million oz.

At the Goldex division, also near Val d’Or, the shaft has been sunk to a depth of 2,600 ft., and drifting towards the mineralized zone continues. Test mining is expected to begin in the second quarter and a large bulk sample is planned for later in the year. Underground exploration drilling of several targets is in progress.

At the Vezza project near Joutel, Que., drilling and test-mining are in progress following the discovery of a mineralized zone. Initial results are comparable to those obtained from surface drilling. Agnico’s next step will be to carry out test-milling of the Vezza ore, with a production decision expected by late 1996.

Meanwhile, at the Victoria Creek project near Kirkland Lake, Ont., Agnico affiliate Sudbury Contact Mines (TSE) has started an 80-hole, 100,000-ft. drill program. The objective is three-fold: to test the continuity of previously discovered mineralization; to test for possible extensions of this mineralization; and to examine other targets along the regional trend that hosts the mineralization.