Eldorado declares maiden high-grade gold resource at Ormaque
(Kitco News) - Eldorado Gold today announced a maiden resource estimate for the recently-discovered Ormaque deposit near its Lamaque operations in Quebec.
According to Eldorado, inferred mineral resources at Ormaque totaled 2,620,000 tonnes at a grade of 9.53 grams per tonne gold, for 803,000 ounces of contained gold.
The Ormaque deposit is located approximately midway between the Lamaque-Triangle mine and the Sigma processing facility. It is immediately adjacent to the ore haulage decline currently under construction linking the two. The company said that at current development rates, the decline will reach a position adjacent to the Ormaque deposit in Q3 of 2021.
“This early exploration success at Ormaque highlights the outstanding growth potential at Lamaque,” said President and CEO George Burns.
Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece, Romania, and Brazil. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).