Agnico makes find half-mile west of Eagle gold mines

A new discovery located 2,600 ft. west of the Eagle shaft and on claims wholly owned by AgnicoEagle Mines (TSE) has recently been announced by the company. The extensive landholdings in Joutel Twp., Que., have been aggressively explored over the last two years and an understanding of the regional geology and the controls of the EagleTelbel deposits is beginning to unfold. In the spring of 1990, diamond drilling confirmed the extension of the iron carbonate horizon, the host of the orebodies, over a distance of seven kilometres from the EagleTelbel ore deposits and in an area not previously explored.

Three holes have recently tested the orebearing horizon and have confirmed a structure having many of the characteristics of those known at the mine and significantly, carrying alteration and gold mineralization very similar to the richer parts of the known ore deposits.

Encouraging results from the three holes are: Core Section Length Grade Hole (ft.) (ft.) AE90-13 120 18.0 0.621 (including) 13.0 0.806 AE90-16 100 55.5 0.315 (including) 19.0 0.429 and 10.0 0.486 AE90-17 220 30.0* *Not available at present, drilling in mineralization.

Eight feet of core were lost in the intersection in AE9016 but have been included at zero grade.

The known Eagle and Telbel ore deposits have a strike length of 7,000 ft. and a depth of 3,600 ft. and reserves plus production to date total eight million tons grading 0.19 oz. per ton.