Developing Bellechasse-Timmins Gold Deposit
New Discovery Resulting in a 20KM Mineralized Gold Belt
Message: Goldex Deposit...a nuggety dream?!
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Sasha shared some information he gathered this morning.
If you are not aware, Agnico Eagle is mining the Goldex deposit in Quebec which is VERY interesting to us Golden Hopers because they were dealing with understated 43-101 grade. (I say 'were' because they are mining it now, I'm sure they don't care about the 43-101 estimate) They are doing quite well, and as explained below - they are doing better than I had imagined. Not only are they getting (guessing here) 2 g/t more than the 43-101 gave them...they are also mining this deposit on the cheap!
Sasha's info below...
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Given that we often use Goldex as a comparable, I took the liberty of getting as much info as possible from Agnico about the deposit. Take a look at the links that the IR representative sent over, they are worth it.
I was very interested to see that the mining cost were so low $318/oz and how they got to such a low number.
Two points that stuck with me:
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- Goldex: New mine near LaRonde is thought to be one of the lowest-cost underground operations in the gold industry on a per tonne basis.
- Most of the gold at Goldex occurs as microscopic particles associated with pyrite, while the rest is in the form of coarse native gold grains of up to a few millimetres in size. The processing methods chosen to recover gold take advantage of its coarse native character and its association with pyrite.
Thank you,
514.347.1329
Hi Sasha
Because it uses a simple mining method. See link for Goldex mining method (schematic longitudinal view). http://www.agnico-eagle.com/Theme/Agnico2/files/pdf/goldex_mining_sequence_v2.pdf
Goldex uses an innovative but simple, high-volume bulk mining method. There are three large, contiguous stopes, which are mined via longhole open stoping techniques. The stopes are blasted from Level 76 (760 metres below surface) upward, with the broken ore (muck) drawn out from Level 76. An underground crusher on Level 77 reduces the ore size before it is hoisted to surface in Shaft No.2. Extraction, underground crushing and hoisting average 6,900 tonnes per day, and will increase to 8,000 tonnes per day by late 2011. The mining method requires that the majority of the muck be temporarily left in the stopes to avoid the cost of backfilling, while reducing dilution due to sloughing of the walls. Production blasting is expected to be completed in 2012, while the broken ore will be extracted through 2017. All the muck will eventually be removed and processed, leaving the stopes empty.
More information can be found at - http://www.agnico-eagle.com/English/Our-Business/Operating-Mines/goldexmine/Mining--Processing/default.aspx
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