Agnico Eagle: 3 mines operating & 3 new gold mines soon.

Gold production to double to 590,000 ounces in 2009, double again to 1.2 million ounces in 2010.

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Drill Program Encounters 2.45 g/t Pd+Pt+Au Over 28 m at the River Valley Platinum Group Metals PGM Project, Sudbury Mining District

  • A drill hole collared in main mineralized zone (Dana North) encountered 2.45 g/t Pd+Pt+Au over 28m, including 7.12 g/t over 3m and 4.06 g/t over 6m with a second zone of 3.30 g/t Pd+Pt+Au over 4m
  • Drilling continues to encounter PGM mineralization in the footwall of the River Valley PGM Deposit with assays of 1.56 g/t Pd+Pt+Au over 9m, 1.41 g/t over 8m, 1.12 g/t over 17 m and 1.64 m of 7m were obtained from drilling in the footwall
  • River Valley is the Largest Undeveloped Primary PGM resource in Canada, with 3.9Moz PdEq in Measured Plus Indicated including an additional 1.2Moz PdEq in Inferred.

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Hub On AGORACOM / Read Release

Message: Northern Persistence

Northern Persistence
Challenges Notwithstanding, Nunavut Explorers Persevere
By Greg Klein

See Part I of this story.

Nunavut’s mining future might have seemed grim indeed when Agnico-Eagle TSX:AEM applied a $644.9-million write-down to Meadowbank, the territory’s sole operating mine. Newmont’s TSX:NEM $1.61-billion write-down of its Hope Bay Gold Project would seem to validate pessimism. Yet Nunavut mining has flourished in the past, and rising commodity prices have brought renewed interest in past-producing operations. Meanwhile, a new strategic alliance offers hope for largely unexplored lands.

Undeterred by its Meadowbank disappointment, Agnico is pushing its Meliadine Gold Project towards 2017 production. But if Elgin Mining TSXV:ELG keeps to its timeline, it will re-open the Lupin Gold Mine by Spring 2014. Located 400 kilometres north of Yellowknife, the mine was shut down by Kinross TSX:K in 2005 after producing 3.34 million ounces. Production, however, was sporadic. The mine was opened October 1982, shut down January 1998, re-opened April 2000, shut down again August 2003, re-opened March 2004 and shut down yet again in February 2005.

Read the rest of this article.

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