Abitibi Royalties holds a 2% NSR on a portion of the Canadian Malartic mine known as the Gouldie deposit, which is jointly owned by Agnico Eagle and Yamana Gold. The Gouldie deposit is located approximately 300 meters south of the main Canadian Malartic open pit.
Abitibi Royalties' 2% NSR also covers the historic Charlie Zone that is located 100 metres northeast of Gouldie. The operators have reported that they will be conducting an exploration drill program at Gouldie and Charlie Zones in order to identify open pit / underground zones that could be a potential source for ore at the Canadian Malartic mill.
The resource for the portion of the Gouldie Zone subject to Abitibi Royalties' 2% NSR (as of December 31, 2018) is listed below.
Resource Estimate for Gouldie (2% NSR)
|Gold Grade (g/t)
|Total M & I Resource
Additional Production Opportunities
Agnico Eagle states that it is evaluating several potential opportunities (which have not been approved) at a number of existing operations to enhance its production profile. The near pit zones around the Canadian Malartic Mine were identified as one possible opportunity. Abitibi Royalties holds an NSR on several of the near pit zones that were previously outlined by the mine operators that include the eastern portion of the Gouldie Zone (2% NSR) and Charlie Zone (2% NSR).
For more information regarding the resource estimate, see press release dated March 14, 2019.