The high-grade Meliadine gold project has 2.6 million ounces of gold in probable reserves* (9 million tonnes at 8.5 g/t) and a large mineral resource. The reserves are in the Tiriganiaq deposit, and the resources are in Tiriganiaq plus another five nearby deposits within a large land package that is nearly 80 kilometres long. The property is near the western shore of Hudson Bay in the Kivalliq region of Nunavut, about 25 kilometres northwest of the hamlet of Rankin Inlet and 290 kilometres southeast of Agnico-Eagle’s Meadowbank mine. The closest major city is Winnipeg, Manitoba, about 1,500 kilometres to the south.

Claims were first staked on the Meliadine property in 1987. The Discovery gold deposit was found in 1989, and Tiriganiaq (the largest deposit to date) in 1993. Agnico-Eagle obtained an interest in the Meliadine project in July 2008 by purchasing an equity interest in its then-owner, Comaplex Minerals. In July 2010, Agnico-Eagle acquired all of Comaplex and its 100% interest in Meliadine.

The land is mainly covered by glacial overburden, and there is deep-seated permafrost. 

Equipment, fuel and dry goods depend for transportation on the annual, warm-weather sealift by barge to Rankin Inlet via Hudson Bay. Personnel, perishables and lighter goods arrive at the Rankin Inlet regional airport by commercial or charter airline, from which they can be transported along the winter road or flown to the property by chartered helicopter. An all-weather gravel road extends from Rankin Inlet to the bank of the Meliadine River, approximately 15 kilometres away from the property, but there is winter-road access for tracked vehicles from Rankin Inlet right to the Meliadine exploration camp from late December to mid-May. A 27-kilometre-long continuation of the existing all-weather, open-access road to the Meliadine project is in the permitting stage.

* Source  Meliadine December 31, 2010 Reserves and Resources

Learn More

March 8, 2011 - 'Technical report on the December 31, 2010, Mineral Resource and Mineral Reserve Estimate, Meliadine Gold Project, Nunavut, Canada' (Agnico-Eagle Staff)	10.8 MB
February 26, 2010 – “Comaplex Minerals Corp.: Meliadine gold prospect, Nunavut, Canada Technical Report” (Snowden Mining Industry Consultants)	6.3 MB
February 20, 2009 – “Independent technical report on the preliminary assessment of the Meliadine project, Nunavut, Canada” (Micon International)	4.2 MB
January 23, 2009 – “Technical report on the underground development and bulk sample program, Tiriganiaq gold deposit, Meliadine West property, Nunavut, Canada” (Strathcona Mineral Services Limited)	3.9 MB
Details of Acquisition	Link to page
History	Link to page

Details of Acquisition

On April 1, 2010, Agnico-Eagle Mines Ltd. reached an agreement in principle to acquire all of the shares of Comaplex Minerals Corp. aside from the approximately 12.3% it already owned. The main asset of Comaplex was 100% interest in the advanced-stage Meliadine gold project in Nunavut, Canada. The all-share transaction, which closed on July 6, 2010, valued the Meliadine property at approximately C$661 million.

The 80-kilometre-long property is about 290 kilometres from our Meadowbank mine. It complements Agnico-Eagle's portfolio of large properties in low-risk political jurisdictions, and our Arctic mining experience.

The Meliadine project fits well with the Company's long-term strategy to “acquire small, think big”. It has increased Agnico-Eagle shareholders’ resources per share, and likely will eventually increase the gold production per share.

History

1969-1972 – North Rankin Nickel Mines does initial exploration; reports gold occurrence at Tonic Lake, 28 km southeast of Tiriganiaq deposit
1987 – Quartz vein sample from occurrence assays 5 g/t gold; initial claims are staked
1989 – Comaplex Minerals Corp. and partner find Discovery deposit in eastern part of property (Meliadine East), and acquire 405,000 hectares in claims and permits.
1990-2004 – Comaplex and various exploration partners carry out extensive drilling as well as geophysical and geochemical surveys, finding several more gold deposits: the Snow Goose showing in Meliadine East; and the Wesmeg boulder field, the Tiriganiaq, F zone, Pump and Wolf deposits* in Meliadine West.
2005-2007 – In 2005 is the project’s first mineral resource estimate compliant with NI 43-101 standards. The estimate is updated in 2006, 2007 and 2008 .
2008 – At the Tiriganiaq deposit, an underground exploration and bulk sampling program via portal and underground decline begins in August 2007, and is completed in August 2008 on two of the dominant gold-bearing zones (1000 lode and 1100 lode). Agnico-Eagle acquires 15.6% interest in Comaplex.
2009 – A Preliminary Assessment recommends advancing the project to prefeasibility or feasibility stage. Late in the year, Meliadine West and East are consolidated to form the Meliadine property, with Comaplex as its 100% owner.
2010 – A Technical Report released in February gives new mineral resource estimates for the Tiriganiaq, Discovery and F zone deposits, plus first estimates for the Pump and Wolf deposits*. In April Agnico-Eagle signs an agreement with Comaplex to acquire 100% interest in the property; the transaction is completed in July 2010. Wesmeg zone located by exploration drilling.
2011 – A Technical Report released in March gives an initial mineral reserve at Tiriganiaq and updated resources* as of December 31, 2010. The conclusions are based on an initial feasibility study by Agnico-Eagle Mines staff.

* Source Meliadine December 31, 2010 Reserves and Resources