Lamaque project

Lamaque Photo

Lamaque is an underground gold project in Val-d'Or, Quebec.

Key Facts

Location Quebec, Canada
Mine type Underground
Metals mined Gold
Employees/contractors ~75
Deposit type Orogenic gold
Ownership 100%
Resources & Reserves 1.51 Moz Au @ 9.13 g/t Au*
* Based on indicated resource estimate announced by Integra on Mar 22, 2017. Cut off grade of 5 g/t.

2017 Outlook

A technical study is currently underway which will include 110,000 plus metres of drilling that supported the March 2017 resource model as well as information from a further 60,000 metres of drilling. The study will optimize the PEA for capital and operating costs to a pre-feasibility level of confidence and is expected to confirm maiden reserves for the Triangle deposit in Q1 2018.

Geology and mineralization

Eldorado’s Lamaque Project is located in the Val d’Or mining camp, within the eastern end of the prolific Southern Abitibi Greenstone Belt. The project covers a 32.4 square kilometre tenement package surrounding the historical Lamaque and Sigma mines, which together produced over 10Moz of gold. The Triangle Deposit is an Archean Greenstone-Hosted Orogenic Lode Gold Deposit located 2.5 kilometres south of these mines. Gold is associated with quartz-tourmaline-carbonate shear veins hosted within a series of sub-parallel steeply south-dipping shear zones, secondary shear veins splaying off these principal shear zones, and related gently-dipping extension veins. The deposit is localized where the controlling shear zones cut through a steeply plunging cylindrical porphyritic diorite plug (“The Triangle Plug”) that intrudes mafic metavolcanic strata of the Val d’Or Formation. The principal gold-bearing veins and associated alteration are on average 4-5m thick, extend 500-700m horizontally and vertically and have a fully-diluted average grade of approximately 7 g/t Au. To date, seven shear veins have been delineated by drilling from surface to around 1000m vertical depth. Recent deep drilling has demonstrated potential for additional mineralized shear zones at deeper levels.

Exploration

Exploration to date has focused on advancing the Triangle Deposit to a pre-feasibility study, which is scheduled to be completed during the first quarter of 2018. Eldorado’s exploration group has identified a series of high-quality exploration target on the property showing potential to add to the current resources base, including the extension at depth of the Triangle Deposit. Drilling programs are underway to test these targets.

Indicative Operating Data

Estimated Life of Mine*
Tonnes milled 6.3 Mt
Au grade 6.96 g/t
Au recovery 93%
Annual Gold production 123,000oz
Sustaining cash cost US$634/oz
*Data based on Preliminary Economic Assessment dated May 5, 2017

History

July 2017 Eldorado acquires remaining outstanding shares to own 100% of Integra Gold and the Lamaque project.
May 2017 Preliminary Economic Assessment for the Lamaque project published.
2015 Eldorado acquires a 15% interest in Integra Gold following a Private Placement.