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Lamaque is an underground gold project in Val-d’Or, Quebec. Eldorado acquired Lamaque from Integra Gold in July 2017.

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

The Lamaque project consists of the newly-discovered Triangle gold deposit located only 2.5km south of the historical world-class Lamaque and Sigma Mines, which are also on the property and produced over 10Moz of gold. The Triangle deposit is located in the Val d’Or mining camp, at the eastern end of the prolific Southern Abitibi Greenstone Belt. The deposit is an Archean greenstone-hosted orogenic lode gold deposit. Gold is found within quartz-tourmaline-carbonate veins, which are hosted within a series of sub-parallel sub-vertical shear zones centered around a steeply plunging cylinder-shaped porphyritic diorite (“The Triangle Plug”), which intrudes the mafic volcanic stratigraphy of the Val d’Or formation. Individual gold bearing veins and associated alteration are on average 4-5m thick, sub-vertical and extend 500-700m horizontally and vertically and have a fully diluted average grade of approximately 7 g/t Au. To date, seven structures have been identified by drilling from surface to around 1,000m vertical depth. Secondary structures or splays from these principal shear zones can also host significant gold but are typically less extensive and more discontinuous. A recent deep drilling program has been successful in demonstrating the mineralized system extends to at least 2km below surface.

Exploration

Exploration efforts have been focused on advancing the Triangle deposit to a pre-feasibility study, which is planned to be completed during the first quarter of 2018. Eldorado’s exploration group has identified a series of high-quality exploration targets on the property showing potential to add to the current resource 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.

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