Abitibi Royalties Announces Reserve and Resource Update
25.05.2015 | ABN Newswire
Quebec, Canada (ABN Newswire) - Abitibi Royalties Inc. (CVE:RZZ) ("Abitibi Royalties" or the "Company") is pleased to announce the receipt of the year-end 2014 gold Reserve and Resource estimate completed by Canadian Malartic GP ("Canadian Malartic"), operated by Agnico Eagle Mines Ltd. and Yamana Gold Inc., in respect of the Company's net smelter return ("NSR") interests on various areas of the Canadian Malartic mine. These areas include Gouldie, Barnat and the Jeffrey Zone.Information regarding the updated Reserve and Resource estimates for the areas where Abitibi Royalties holds an NSR interest was provided by Canadian Malartic by way of a "Surface Reserve and Resources Letter to Abitibi Royalties" dated May 7 th, 2015. The following information was extracted directly from such letter. This estimate was calculated at a gold price of US$1,300 per ounce.
To view reserves, please visit:
http://media.abnnewswire.net/media/en/docs/80019-CVE-RZZ-20150522.pdf
About Abitibi Royalties Inc.:
Abitibi Royalties Inc. (CVE:RZZ) holds a 3% NSR on the Odyssey North discovery, Jeffrey Zone and the eastern portion of the Barnat Extension and a 2% NSR on portions of the Gouldie and Charlie zones all at the Canadian Malartic mine near Val-d'Or, Quebec. In addition, the Company holds 100% title to the Luc Bourdon and Bourdon West Prospects in the McFaulds Lake ("Ring of Fire") area, Ontario. The Company owns 3,549,695 shares of Yamana Gold Inc. and 459,197 shares of Agnico Eagle Mines Ltd..
Contact:
Abitibi Royalties Inc.
Glenn J. Mullan Chairman 2864, Chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Email: glenn.mullan@abitibiroyalties.com
Ian J. Ball, President
1 King West St. Suite 4202
Toronto, Ontario M5H 1A1
Tel.: 416-346-4680
Email: ian.ball@abitibiroyalties.com