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Canada

McGarry Project

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Categories

Overview

Mine TypeUnderground
StagePreliminary Economic Assessment
Commodities
  • Gold
Mining Method
  • Shrinkage stoping
  • Longhole stoping
Mine Life... Lock
SnapshotInfrastructure 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.

Owners

SourceSource
CompanyInterestOwnership
Orecap Invest Corp. 100 % Direct
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.

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 type at Armistice is “pyritic mudstone” with varying amounts of quartz. It is difficult to determine the primary nature of these pyritic mudstone units. They may be inter-volcanic, shallow marine\ accumulations of sediments derived from the volcanics with the sulphides and gold originating from gases and fluids emanating from fissures related to the volcanic activity.

Pyritic mudstone units (“flow ore”) constitute an important gold-bearing zones at McGarry. Pyritic mudstone units appear to follow distinct formational horizons. Gold in such zones occurs mainly in intergrowth with pyrite and only sparingly in native form. The pyrite is medium to coarse grained and occurs in the cherty mudstones in disseminations varying from 1 to 25 percent of the rock volume. Minor quartz veining and silicification is commonly in evidence. Arsenopyrite and occasionally chalcopyrite may be present.

A second gold-bearing mineralization type has similarities to the “green carbonate ore” at Kerr Addison. This style of mineralization was of lower grade at the Kerr Addison than the “flow ore” type. The pyrite content is in the 1 to 25% range. Gold distribution is probably the same as in the pyritic mudstones but has been locally concentrated into larger grains so that visible gold is more common. The overall gold distribution appears to have been dispersed over a larger and more poorly defined volume which lowers the average grade over mineable widths and lengths and, as a corollary, increases the internal dilution within potential stoping areas.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Production

CommodityUnitsLOM
Gold oz 127,900
All production numbers are expressed as metal in ore.

Production Costs

CommodityUnitsEstimated
Assumed price Gold CAD 1,200 / oz *  CAD
* According to 2011 study / presentation.

Project Costs

MetricsUnitsLOM Total
Pre-Production capital costs $M CAD  ......  Subscribe
Total OpEx $M CAD  ......  Subscribe
Gross revenue (LOM) $M CAD  ......  Subscribe

Heavy Mobile Equipment

Fleet data has not been reported.

Personnel

Mine Management

Job TitleNamePhoneEmailProfileRef. Date
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Aerial view:

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