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Canada

Goldex Mine

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Overview

Mine TypeUnderground
StatusActive
Commodities
  • Gold
  • Silver
Mining Method
  • Longhole stoping
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Mine Life... Lock
SnapshotThe Goldex mine achieved commercial production from the M and E satellite zones in October 2013. The Deep 1 Zone achieved commercial production in July 2017. Production from the Deep 1 Zone is expected to extend Goldex’s mine life through 2031 under current mine plans.

Starting 2024, the Company expects to process ore mined from the Akasaba West property at the Goldex mill, providing additional ore of between 1,500 to 1,750 tonnes of ore a day grading 0.84 grams of gold per tonnes and a copper grade of 0.48%. The Akasaba West project is located approximately 30 kilometres from Goldex.

Owners

SourceSource
CompanyInterestOwnership
Agnico Eagle Mines Ltd. 100 % Direct
Agnico Eagle Mines Ltd directly owns 100% of the Goldex mine.

Contractors

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Deposit type

  • Vein / narrow vein

Summary:

The Goldex property is located near the southern boundary of the Archean-age (2.7 billion years old) Abitibi Subprovince, a typical granitegreenstone terrane located within the Superior Province of the Canadian Shield. The southern contact of the Abitibi Subprovince with the Pontiac Subprovince is marked by the east-southeast trending Cadillac-Larder Lake fault zone, the most important regional structural feature. The Goldex deposit is hosted within a quartz diorite sill, the "Goldex Granodiorite", located in a succession of mafic to ultramafic volcanic rocks that are all generally oriented west-northwest. The satellite Goldex deposit known as the South Zone is hosted within the volcanic rocks (basalts, gabbro, komatiite) located south of the Goldex main deposit.

The M Zone has an approximate length of 440 metres, a height of 350 metres and a thickness of 130 metres. The E Zone, adjacent to the eastern end of the GEZ, has an approximate length of 250 metres, a height of 290 metres and a thickness of 130 metres. The Deep Zone (including the Deep 1 Zone and the Deep Zone Extension) is the continuity of the GEZ mineralization at depth. For safety purposes, a 90-metre thick pillar has been left below the GEZ, so that mining of the Deep Zone starts at 850 metres below surface, and extends to 1,800 metres below surface. It appears to have an approximate strike length of 350 metres, a height of 950 metres and thickness of 120 metres.

Mineralization
The primary gold mineralization type at Goldex corresponds to the classical quartz-tourmaline vein lode-gold deposit type. The gold-bearing quartztourmaline pyrite veins and vein stockwork, hosted within a quartz-diorite dyke, are the result of a strong structural control, related to ductile shearing and brittle faulting. The most significant structure directly related to mineralization is a discrete shear zone, named the Goldex Mylonite, which is up to five metres wide and occurs within the Goldex Granodiorite, just south of the Deep 1 Zone and north of the M Zone.

Several vein sets exist within the M, E and Deep 1 zones, of which the main set consists of extensional-shear veins dipping approximately 30 degrees south. The vein sets and associated alteration halos combine to form stacked envelopes up to 30 metres thick.

Moderate to strong albite-carbonate alteration of the host-rock quartz diorite surrounds the quartz-tourmaline-pyrite veins and covers almost 80% of the mineralized zone; outside of the envelopes, prior chlorite alteration affects the quartz diorite and gives it a darker grey-green colour. Occasionally, enclaves of relatively unaltered medium grey-green-coloured quartz diorite (with no veining or gold) are found within the M, E and Deep 1 zones. They are removed with the rest of the stope's ore to allow for a smooth stope shape, which is required for mining purposes.

Most of the gold occurs as microscopic particles that are almost always associated with pyrite, generally adjacent to pyrite grains and crystals but also 20% included within the pyrite. The gold-bearing pyrite occurs in the quartz-tourmaline veins and in narrow fractures in the albite-carbonatealtered quartz diorite (generally immediately adjacent to the veins).

Gold mineralization in the South Zone corresponds to a quartz-biotite-sulphide vein deposit. Gold is mainly associated to sulphides (pyrrhotite, chalcopyrite, sphalerite and pyrite) along horizons altered in silica and biotite. The host rocks are a sequence of volcanic rocks (andesite, basalts, gabbro and komatiite) located south of the Goldex main deposit. The deposit presents a strong structural control, related to ductile shearing and brittle faulting as based on the actual observations. Studies are underway to better understand the geological model.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityUnits2024202320222021202020192018201720162015
Gold oz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe140,884 121,167 118,947 120,704 115,426 
Silver koz  ....  Subscribe  ....  Subscribe  ....  Subscribe2111
All production numbers are expressed as payable metal. ^ Guidance / Forecast.

Operational metrics

Metrics2024202320222021202020192018201720162015
Tonnes milled  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe2,784,524 t2,624,682 t2,572,014 t2,545,300 t2,312,567 t
Daily milling rate  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe7,630 t7,192 t6,567 t6,954 t6,336 t
^ Guidance / Forecast.

Production Costs

CommodityUnits20242023202220212020201920182017
Credits (by-product) Gold USD  ....  Subscribe -1 / oz  
Cash costs Gold USD  ....  Subscribe  ....  Subscribe
Total cash costs Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 584 / oz   646 / oz   611 / oz  
Total cash costs Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 584 / oz **   646 / oz **   610 / oz **  
^ Guidance / Forecast.
** Net of By-Product.

Operating Costs

Currency20232022202120202019201820172016
Total operating costs ($/t milled) CAD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe

Financials

Units20242023202220212020201920182017
Capital expenditures (planned) M USD  ....  Subscribe
Sustaining costs M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 22.7   20.2   30.1  
Capital expenditures M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 43.9   52.9   57  
Revenue M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 197   152.4   139.7  
Gross profit M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 71   36.5   32.2  

Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNamePhoneEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 1, 2024
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....................... Subscription required ....................... Subscription required ........... Subscription required ........... Subscription required Apr 9, 2024

EmployeesTotal WorkforceYear
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Aerial view:

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