Agnico Eagle Mines (AEM) provided an update on the construction and development activities at the Odyssey Project. The Canadian Malartic Partnership (CMP), a 50/50 joint venture between Yamana Gold and AEM, manages and operates the Canadian Malartic mine in the heart of the Abitibi Gold Belt in Quebec. The Odyssey mine, which is located near the Canadian Malartic mine, will allow the partnership to pursue the current resource at depth, according to AEM.

Ramp development has advanced ahead of schedule and at lower unit costs than originally expected, according to AEM. The first underground exploration bay is now complete. A 30-meter (m) shaft collar has been excavated and lined with concrete. The foundations for the headframe are in progress and headframe construction is expected to start in the fourth quarter. All surface construction activities and the purchase of long lead items are on target. Shaft sinking is expected to resume in the second half of 2022.

When it becomes fully operational, the Odyssey mine is expected to be one of Canada’s largest underground gold mines. The mine will use the latest technology, including LTE mobile communication network, automated trucks operated from the surface, on-demand ventilation, and electric equipment and vehicles, CMP said. It will access the orebody from an 1,800-m-deep ramp. Plans are to extract 19,000 metric tons per day (mt/d) of ore at an estimated grade of about 2.75 grams/mt gold during peak operations. The ore will be processed at CMP’s existing plant, which will eventually be adapted to meet the future mine’s needs.

Canadian Malartic mine will continue to operate until 2029 by mining the Barnat pit. The Odyssey mine’s life is expected to last until 2039.