The Akasaba West Property is a gold-copper deposit located in the Bourlamaque and Louvicourt Townships, Val d’Or, Quebec. The Akasaba West Property is owned and operated by Agnico Eagle Mines Limited (“Agnico”). Agnico (TSX: AEM) acquired the project from the Seller in 2014 and has continued previous permitting and development activities, with a view to commencing mining activities in 2020. Located less than 30 km from Goldex, the deposit could create flexibility and synergies for Agnico’s operations in the Abitibi region by using extra milling capacity at both Goldex and LaRonde, while reducing overall unit costs.
Agnico will maintain its buy-back right of 1% for $7 million, and the Royalty will be payable after gold production on the claims comprising the property has exceeded 210,000 ounces.
Alexandria Minerals filed a National Instrument 43-101 Technical Report (1), dated March 1, 2013 (the “Technical Report”), stating that the Akasaba West Zone Pit had an inferred resource of 14,863,740 tonnes of 0.69 gpt gold containing 332,074 ounces and 0.41% copper containing 61,255,885 Kilograms.
(1) The Technical Report – titled “NI 43-101 Technical Report on the Akasaba Project – Province of Quebec, Canada – NS: 32C/03 & 32C/04” – is filed on the Seller’s SEDAR profile (report filed on March 11, 2013). Agnico has project information on their website (www.agnicoeagle.com) and further information on the Akasaba West Property has been filed on Agnico’s SEDAR profile.
Location: Bourlamaque and Louvicourt Townships, Val d’Or, Quebec (Canada)
Project Status: Development
Counterparty: Agnico Eagle Mines Limited (TSX: AEM)
For more information please see https://www.agnicoeagle.