27 July 2016
TORONTO, July 27, 2016 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) ("Agnico Eagle" or the "Company") is pleased to provide an update on its 2016 exploration activities at the Amaruq project in Nunavut, the Sisar Zone at Kittila, the Barsele project in Sweden, the 50% owned Odyssey prospect adjoining the Canadian Malartic mine, the Madrono prospect adjoining the Pinos Altos and Creston Mascota operations and the El Barqueno project in Mexico. Highlights include:
Drilling at Amaruq discovers an additional vein structure in V Zones and further infills the Whale Tail deposit – Exploration drilling has encountered a new vein structure in the V Zones, with results up to 15.5 grams per tonne ("g/t") gold (capped) over 9.4 metres estimated true width at 18 metres depth in drill hole AMQ16-706. The V Zones have been shown to include multiple parallel structures. A recent lower intercept was 15.5 g/t gold (capped) over 5.4 metres estimated true width at 349 metres depth in drill hole AMQ16-833. The V Zones are being evaluated as a potential second source of open pit ore at Amaruq.
"Despite a significant downturn in the gold price over the past few years, we continued to invest in our operations and advance our development projects, and we significantly increased exploration spending. As a result, we have made several new discoveries and we are now seeing the potential for many of these projects to have a positive impact on our production profile in the coming years," said Sean Boyd, Chief Executive Officer of Agnico Eagle. "Based on current exploration results, we believe that there is good potential to expand and upgrade the mineral resources at most of our key projects by year-end 2016, "added Mr. Boyd.