Eldorado Gold provided an update on exploration results from the Ormaque deposit, part of the Lamaque Complex, in Quebec, Canada. “We are excited to see Ormaque resources continuing to grow, adding ounces to both Indicated and Inferred Resources, as reported in our September 30, 2023 Mineral Reserve and Mineral Resource statement, published on December 13, 2023,” said George Burns, President and CEO of Eldorado Gold Corporation. “In addition to this, we are encouraged by the results of our 2023 exploration program that increase our confidence and demonstrate opportunity for expansion beyond the current Mineral Resource. Supporting our development strategy in Quebec, plans are being advanced to declare initial Reserves for Ormaque in late 2024 with completion of a pre-feasibility study, and exploration drilling will continue to test resource expansion opportunities. We will also drive a drift off the decline next year into one of the lenses for a bulk sample to test our geological assumptions, mining method and for metallurgical test work. Additionally, our Exploration team continues to explore other near mine opportunities in the Val-d’Or district, capitalizing on our strategic footprint in the prolific Abitibi region.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on EGO:
- Eldorado Gold Releases Updated Mineral Reserve and Mineral Resource Statement; 2023 Gold Mineral Reserves of 11.7 million ounces and Measured and Indicated Gold Mineral Resources of 19.0 Million Ounces
- Eldorado Gold Provides Exploration Update Highlighting Increased Confidence on Ormaque; Announces Executive Management Appointments
- Eldorado Gold price target raised to C$17 from C$16 at Canaccord
- Eldorado Gold price target raised to C$19 from C$18 at National Bank
- Eldorado Gold price target raised to $12 from $11 at TD Securities