Overview
Stage | Preliminary Economic Assessment |
Mine Type | Underground |
Commodities |
|
Mining Method |
- Shrinkage stoping
- Longhole stoping
|
Mine Life | 4 years (as of Jan 1, 2011) |
Infrastructure in place including headframe, shaft, hoist, electrical substation, workshop, core facility and tailings facility.
As part of Orefinders $60 million strategic partnership with Agnico Eagle Mines, Orefinders is preparing its exploration and drill budgets for 2023. |
Source:
p. 4
The Company has an agreement in place for a strategic partnership with Kirkland Lake Gold and its subsidiaries (now Agnico Eagle following a merger of equals) wherein Agnico Eagle holds a 9.9% interest in the Company. Additionally, Orefinders has granted Agnico Eagle the option to acquire up to a 75% interest in its Projects in return for spending $60 million in exploration and development on the Projects.
Contractors
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Deposit Type
- Sediment-hosted
- Breccia pipe / Stockwork
Summary:
Gold-bearing zones in the Virginiatown camp area commonly occur as repetitive tabular lenses within veined green carbonate rock and pyritic cherty mudstones. In the carbonates, erratic and often coarse gold in native form occurs in contained quartz veining and is locally referred to as “green carbonate ore”. In the cherty mudstones, gold generally occurs in crystal intergrowth with disseminated pyrite and is locally referred to as “flow ore”. There are other deposit types such as graphite-rich and within altered albitite dikes but these are minor and local.
Brecciated stockwork zones of green carbonate rock also constitute an important deposit type in the area. In these, native gold occurs at quartz vein contacts and is particularly strongly associated with flat or low angle veining. Typically, such zones on the adjoining Kerr Addison mine property could be up to 100 ft in thickness and several hundred feet in length and vertical extent.
Because of the erratic distribution of gold within them, the stockwork zones are very difficult to identify, and were often recognized in drilling at the Kerr Addison mine by the presence of 20 to 30 percent vein quartz carrying a few flecks of native gold. They were generally mined on a bulk shrinkage basis. The only well identified occurrence of this style of mineralization at the McGarry Project is on the 2250 Level in the gold zone encountered in the 600W cross-cut in the 260N Zone.
An important deposit t ........

Mining Methods
- Shrinkage stoping
- Longhole stoping
Summary:
Shrinkage and longhole mining, and a hybrid combination of these methods, are applicable to this project.
In shrinkage stoping, the ore is mined out in successive flat slices, working upward from the level. After each slice is blasted down, enough broken ore is drawn off from below to provide a working space between the top of the pile of broken ore (“muck”) and the back of the stope. Usually about 40% of the broken ore will have been drawn off when the stope has been mined to the top. After the stope has been mined to the top, the remaining 60% of the ore in the stope is drawn down until the stope is empty. Shrinkage stoping is a method often applied to the mining of narrow veins and has been widely used in the Abitibi gold district. There are variations on the method of access to the top of the stope, to the method of drawing off the broken ore and to the drill/blast techniques for bringing down each successive slice of ore.
Source:
Summary:

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Projected Production:
Commodity | Units | LOM |
Gold
|
oz
| 127,900 |
All production numbers are expressed as metal ore.
* According to 2011 study.
Reserves at September 16, 2011:
A 0.10 oz/t gold cut-off grade was used with high-grade values uncapped and capped at 1.5 oz/t gold.
Category | Tonnage | Commodity | Grade | Contained Metal |
Indicated
|
492,000 tons
|
Gold
|
0.25 oz/ton
|
123,000 oz
|
Inferred
|
172,000 tons
|
Gold
|
0.17 oz/ton
|
30,000 oz
|
Commodity Production Costs:
| Commodity | Units | |
Assumed price
|
Gold
|
CAD
|
1,200 / oz * CAD
|
* According to 2011 study / presentation.
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2011 Study Costs and Valuation Metrics :
Metrics | Units | LOM Total |
Pre-Production capital costs
|
$M CAD
|
......
|
Total OpEx
|
$M CAD
|
......
|
Gross revenue (LOM)
|
$M CAD
|
......
|
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Mine Management:
Job Title | Name | Profile | Ref. Date |
.......................
|
.......................
|
|
Jan 9, 2023
|
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Corporate Filings & Presentations:
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