Saturday, September 07, 2019 8:27:58 PM
Cecilia Jamasmie | September 5, 2019 | 6:15 am Exploration Canada Gold
The Lamaque mine and Bourlamaque mining village at Val-d’Or, Quebec. (Image courtesy of Société des musées du Québec.)
Canadian bullion producer Eldorado Gold (TSX:ELD)(NYSE:EGO) said on Thursday that exploration carried out at its Lamaque mine in Quebec so far this year revealed high grade mineralization beyond the 2018 resource model in the lower portion of the deposit, as well as more ore clusters.
The Vancouver-based company, which kicked off commercial production at Lamaque at the end of March, said that surface exploration drilling at the property has focused on better defining the resource potential in the less-explored lower portion of the newly discovered Triangle gold deposit.
EXPLORATION CARRIED OUT AT QUEBEC’S LAMAQUE PROJECT HAS REVEALED HIGH GRADE MINERALIZATION BEYOND THE 2018 RESOURCE MODEL AS WELL AS MORE ORE CLUSTERS
That resource, located in the Val d’Or mining camp, at the eastern end of the prolific Southern Abitibi Greenstone Belt, now shows continuity of mineralization to similar depths as the nearby historic Sigma mine, Eldorado’s CEO George Burns said.
He noted the exploration results unveiled today would likely allow the company to expand mineral resources next year.
“At the same time our underground drilling continues to focus on conversion of existing resources to reserves in the C5 and lower C4 mineralized zones,” Burns said in the exploration update.
Lamaque, which Eldorado grabbed after acquiring Integra Gold in 2017, has an initial mine life of seven years and is expected to produce between 100,000-110,000 ounces of gold this year.
The underground mine — the company’s first operation in Canada — is set to ramp up output to between 125,000 and 135,000 ounces of gold in 2020 and 2021.
Eldorado, which also has mining, development and exploration operations in Greece, Romania, Serbia and Brazil, said earlier this week that efforts to secure key permits for its Skouries gold-copper project in Greece look like they are about to pay off.
https://www.mining.com/eldorado-finds-first-canadian-mine-may-be-richer-than-thought/
God Bless
Recent EGO News
- Eldorado Gold Reports First Quarter 2024 Financial and Operational Results; Steady Start to 2024 • GlobeNewswire Inc. • 04/25/2024 09:01:34 PM
- Eldorado Gold Provides Update on First Quarter 2024 Tax Impacts in Turkiye; and Provides Conference Call Details • GlobeNewswire Inc. • 04/09/2024 09:00:21 PM
- Eldorado Gold Files Technical Reports for Olympias and Efemcukuru • GlobeNewswire Inc. • 03/28/2024 06:05:09 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/23/2024 08:52:54 PM
- Eldorado Announces 2024 Detailed Production & Cost Guidance; Provides Four-Year Growth Profile • GlobeNewswire Inc. • 02/22/2024 10:01:03 PM
- Eldorado Gold Reports 2023 Year-End and Fourth Quarter Financial and Operational Results; Achieves Annual Guidance; Provides Skouries Update • GlobeNewswire Inc. • 02/22/2024 10:00:34 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/08/2024 09:59:30 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/25/2024 06:48:51 PM
- Eldorado Gold Produces 485,140 Ounces of Gold in 2023 With Strong Fourth Quarter Preliminary Gold Production of 143,166 Ounces; Achieves 2023 Production Guidance; Provides Conference Call Details • GlobeNewswire Inc. • 01/15/2024 12:00:00 PM
- Eldorado Gold Announces Appointment of Paul Ferneyhough as Executive Vice President and Chief Financial Officer • GlobeNewswire Inc. • 01/02/2024 10:10:29 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 12/15/2023 07:14:32 PM
- Eldorado Gold Provides Exploration Update Highlighting Increased Confidence on Ormaque; Announces Executive Management Appointments • GlobeNewswire Inc. • 12/13/2023 12:02:18 PM
- Eldorado Gold Releases Updated Mineral Reserve and Mineral Resource Statement; 2023 Gold Mineral Reserves of 11.7 million ounces and Measured and Indicated Gold Mineral Resources of 19.0 Million Ounces • GlobeNewswire Inc. • 12/13/2023 12:00:59 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 10/26/2023 09:21:39 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 10/26/2023 09:19:58 PM
- Eldorado Gold Reports Q3 2023 Financial and Operational Results • GlobeNewswire Inc. • 10/26/2023 09:01:03 PM
- Eldorado Gold Provides Update on Tax Impacts in Turkiye Related to the Weakening Lira • GlobeNewswire Inc. • 10/13/2023 09:00:00 PM
- Eldorado Gold Announces Third Quarter 2023 Preliminary Production and Conference Call Details; Provides Project Update on Skouries • GlobeNewswire Inc. • 10/01/2023 12:06:23 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/27/2023 09:30:20 PM
- Eldorado Gold Reports Q2 2023 Financial and Operational Results; Well Positioned to Meet 2023 Guidance • GlobeNewswire Inc. • 07/27/2023 09:00:57 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM