Acquisition Date

2013 / Oct / 04

Terms

2.0% NSR

Operator

Agnico Eagle Mines Ltd.

The HM claim is part of the Macassa mine complex located in Kirkland Lake, Ontario. The Kirkland Lake mining camp has been a prolific gold producer since mining began there in 1915. Gold mineralization at Macassa is found along breaks or faults, in veins as quartz filled fractures, as sulphide rich pyrite zones and as breccias.

The HM claim is an area that hosts the easterly extension of the South Mine Complex (SMC) and is located southeast of the #2 shaft at the Macassa mine. The exploration results from the SMC and HM Claim have identified a significant new find as some of the veins have larger widths and higher grades than the Macassa main zones. Development is underway for a new 4,000 tpd shaft that will support higher levels of production and enable more effective underground exploration east of the SMC. A mid-shaft loading station at approximately 1,650 metres in depth is expected to be completed by 2022.

Mining at Macassa is conducted primarily with overhand and underhand cut-and-fill methods. The Macassa mill was constructed in 1986, originally designed for throughput of 725 tpd but has been upgraded to handle 2,000 tpd. Ore processing at Macassa starts with crushing and grinding before it enters leach tanks for cyanidation and then flows through a carbon-in-pulp circuit, followed by a Merrill- Crow recovery system. The concentrate is melted in a furnace where doré is poured that typically contains 85% to 88% gold.

Recent Activity

February 2022

The merger of equals between Kirkland Lake Gold and Agnico Eagle Mines was completed on February 8 and the combined company continues under the name “Agnico Eagle Mines Limited”.

July 2021

Kirkland reported that work on the #4 Shaft project is ahead of schedule and remains on target for completion in late 2022.

April 2019

An updated NI 43-101 Technical Report was filed for Macassa. The report estimates that phase one of the #4 Shaft project will be completed during the second quarter of 2022 and phase two at the end of 2023. The shaft will support higher levels of production and enable more effective underground exploration to the east of the South Mine Complex where the HM Claim is located.

HM Claim

 

HM Claim Royalty Map
HM Claim Royalty Map