Hammond Reef project still on Agnico Eagle’s radar
Agnico Eagle continues to review its Hammond Lake gold project near Atikokan.
The company renewed exploration on the site last year after several years of inactivity.
It also acquired additional property at Melema Lake, located approximately 9 kilometres east of the main Hammond Reef property.
Drilling, prospecting, mapping and geophysical surveying were conducted on both areas in 2025.
More than $11.2 million has been budgeted for exploration activities this year.
Previous studies indicate that the site has the potential to contain over 3.3 million ounces of gold, sustaining an open-pit operation for approximately 12 years.
The company states that, although the Hammond Reef project has not yet been approved for development, studies to optimize the project, update the costing, and work to acquire permits for construction and operation are currently underway.
An update on the project is expected in 2027.
