Agnico Eagle completed its 2014 exploration activities at its Amaruq gold project in Nunavut, Canada, in mid-October. Previously called the IVR project, the Amaruq project is located approximately 50 km northwest of Agnico Eagle's Meadowbank mine. The $10 million 2014 field program included 31,598 m of drilling in 144 holes, plus geophysics and camp construction that will support expanded activities in 2015.
Exploration at Amaruq from July through October focused on the project's Whale Tail zone. Results in this area demonstrated marked lateral continuity of between one and possibly five mineralized horizons, with gold grades approximately two to three times the 2.9-g/mt grade currently being mined at Meadowbank. Each of 60 holes drilled along the 1,200-m strike length of the Whale Tail zone intersected gold mineralization.
While Agnico Eagle's focus in the latter half of the year was on the Whale Tail zone, results from the I, V and R zones continued to indicate significant gold-bearing zones that will receive more work in the future. The four zones are all open along strike and at depth.
The Amaruq exploration camp is expected to reopen in late February 2015, with winter drilling to start in March and completion of the camp expansion to accommodate 60 personnel by late March.