Goldex royalties from Agnico will be a cash cow for PRB
posted on
Oct 14, 2007 12:31AM
Sean Boyd from Agnico Eagle Mines said February 22, 2007:
"If we were to take a big envelope(of ground on trend) at Goldex, you could make the case that you got 90 million tons grading 0.40 ounces per ton." That is 36,000,000 ounces of gold possible from the Goldex Mine, according to Sean Boyd.
"So there is a lot of gold there and so we're just starting to get back at exploration drilling and we certainly expect that deposit as we get our drill holes in to gain in size."
Most of the gold on the Goldex property appears to be on the original 10 claim block of Probe's.
Sometime in 2010 the Goldex Mine will be in full production for 4,500 tons per day or more. The ore grade of the original resource drilled some years ago was 0.07 ounces per ton. When La Ronde was first discovered it had a gold grade of 0.17 ounces per ton.
"Geologically, the Goldex Mine is similiar to Agnico Eagle's Lapa Mine Project and the La Ronde Mine and is located near the boundry of the Archean-Age Abitibi Sub-Province, a typical granite-greenstone terrain located within the Superior Province of the Canadian Shield."
The start-up at Goldex that was planned for mid-2008 will be ahead of schedule.
Details are lacking concerning when our 5% NSR kicks in for shareholders.
The Goldex property is the largest gold resource in Quebec.