Tuesday, 21st November 2006 (2287 views)

Agnico Eagle, a long established Canadian gold producer, has just updated the gold world on its activities throughout 2006.

The firm has been focusing on developing its four new projects in Finland, Mexico and Quebec in order to hopefully reach its 2008 targets for the company's gold reserves.

Agnico Eagle is looking to triple its gold production and have between 14 million and 15 million ounces of gold in its reserves by this date. This is achievable due to the firm's policy of choosing sites in mining friendly areas with low political risk.

Finland was the location of some of the thickest and richest intersections found where one 20.4 m stretch recorded a grading of 6.1 grams of gold per tonne.

Sean Boyd, vice chairman and chief executive officer at Agnico-Eagle, said: "We believe these strong exploration results demonstrate the potential of our properties to add to our gold reserves and resources over the next two years.

"Increasing our gold reserves and resources through focused drill programmes is an important part of our strategy to strengthen our business and build value at Agnico-Eagle."

New gold zones were discovered at Kittila, Lapa, Laronde and Pinos Altos.

 

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