Eldorado Gold has discovered a high-grade gold mineralization zone at its Lamaque operations near Val d’Or, Quebec. The discovery, called the Ormaque Zone, is located in a previously undrilled area approximately midway between the historically mined Sigma deposit and the currently mined Triangle deposit, in close proximity to a proposed transportation decline linking the Triangle underground mine and the Sigma mill.

Thirteen holes totaling 10,096 m of drill core have been completed to target depth in the discovery area since July 2019. Assay results have been received for seven drill holes, representing 4,424 m of the total drilling.

A preliminary economic assessment (PEA) for Lamaque has been delayed to allow for incorporation of the Ormaque zone as part of the study, including the pending assays from the 2019 drill program. The PEA will continue to consider three distinct projects: a 2.8-km ore transportation decline, upgrades to the Sigma mill to allow for increased throughput, and construction of a paste plant to provide a long-term tailings solution.

The PEA will also now include the Ormaque zone, which sits in very close proximity to the proposed decline route, enabling convenient access for potential future underground drilling and development, and synergies with the proposed decline infrastructure.