Canadian gold mine may be richer than previously thought

Lamaque is an underground gold mine in Val-d’Or, Quebec. Commercial production was declared on March 31, 2019. Photo: Eldorado Gold

Eldorado Gold Corporation yesterday provided results of its exploration activities completed since Q4 2018 at the Lamaque Project in Quebec, Canada.  These results have successfully expanded high grade mineralization beyond the 2018 resource model in the lower portion of the deposit as well as an expanded bulk stockwork zone below 1,250 metres.

Highlights include:

Multiple high grade step-out intersections at the Triangle Deposit significantly expand the resource potential of the C7, C9, C9b, and C10 shear zones, including intercepts of:

• 3.85m at 19.33 g/t Au; 32.53 g/t Au uncapped (C7; TM-16-191M01)

• 9.30m at 10.72g/t Au (C7; TM-18-327W02)

• 5.30m at 12.22g/t Au;  17.23 g/t Au uncapped (C9b; TM-18-327W01)

Large vein stockwork zones potentially amenable to bulk mining further defined in the lower Triangle Deposit area, including:

• 64.50m @ 3.00 g/t Au; 6.38 g/t Au uncapped (zone below C9, TM-15-020W03M01)

Step-out drilling at the Plug 4 Deposit expanded the depth extent of mineralization for an additional 500 vertical metres down-plunge of the previous resource


George Burns, President and CEO of Eldorado Gold said, “Over the last 12 months our surface exploration drilling at Lamaque has focused on better defining the resource potential in the less-explored lower portion of the Triangle Deposit with a view to expanding mineral resources in 2020.  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.”

“These exciting results significantly increase the resource potential of the lower Triangle Deposit, which now shows continuity of mineralization to similar depths as the nearby historic Sigma mine. This asset continues to underpin our vision of building a long-term business in the eastern Abitibi and growing value for our shareholders.”