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MINERAL INVENTORY CONFIRMS MAJOR NEW OREBODY AT AGNICO-EAGLE'S LARONDE MINE

 TORONTO, Aug. 19 /PRNewswire/ -- Agnico-Eagle Mines Limited (NASDAQ-NMS: AEAGF) today announced that Zone 20, discovered in early 1993 at the LaRonde Mine, represents a major new orebody which has the potential to significantly increase the company's ore reserves.
 A preliminary mineral resource figure has been calculated for both the North and South massive sulphide lenses of Zone 20. The South lens contains a mineral inventory of approximately 1,450,000 tons containing 0.51 ounces of gold, 2.86 ounces of silver, 0.54 percent copper and 4.4 percent zinc, per ton. The North lens contains a mineral inventory of approximately 4,500,000 tons containing 0.07 ounces of gold, 4.67 ounces of silver, 0.25 percent copper and 4.09 percent zinc, per ton. In addition, the North lens has approximately 3,500,000 tons of additional zinc and silver mineralization with low copper and gold values.
 "Exploration is continuing underground and Zone 20 is open for expansion in all directions," said Paul Penna, president of Agnico- Eagle. To determine the potential of this zone, work will begin shortly on a program to deepen the main production shaft to 5,000 feet and extend two development drifts east into Zone 20 at a cost of $13.4 million. Depending on exploration results from this program, the Zone 6 production shaft currently under construction may have to be deepened beyond the 1600 feet originally planned, to provide another underground access to Zone 20.
 -0- 8/19/93
 /CONTACT: Paul Penna, chairman and president of Agnico-Eagle Mines Limited, 416-947-1212/
 (AEAGF)


CO: Agnico-Eagle Mines Limited ST: Ontario IN: MNG SU:

SM -- NY048 -- 4350 08/19/93 13:13 EDT
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Publication:PR Newswire
Date:Aug 19, 1993
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