Agnico Eagle sells projects in Finland and Sweden

Agnico Eagle Mines (TSX, NYSE: AEM) will sell its Oijarvi gold project, in central Finland, and the Solvik gold project, in southern Sweden for $10-million to Gold Line Resources (TSXV: GLDL). Gold Line will acquire a 100% interest in both projects for an aggregate purchase price of $10 million, made of cash and shares of each of Gold Line and EMX Royalty (TSXV, NYSE: EMX). Agnico will retain a 2% net smelter return royalty on the projects, 1% of which may be purchased at any time by EMX for $1 million. The Oijarvi gold project contains the drill defined Kylmakangas deposit, with a historical inferred mineral resource of 1.89 million tonnes grading 4.11 g/t gold for 250,000 oz of gold and 31.11 g/t silver for 1.9 million oz. of silver. The mineralized system remains open for expansion at depth and along strike of the 1.5-km mineralized trend. The Solvik Gold Project is a 92.4-sq.-km advanced exploration project approximately 16 km south of the past producing Harnas gold mine in south western Sweden. A total of 43 holes have been drilled to date across the project for a total of 8,364 metres. Several holes have intersected gold mineralization with the best intercepts being 2.50 g/t gold over 19.4 m and 2.71 g/t gold over 8.5 m (estimated true widths). Over 100 channel samples from outcrops and boulders have returned surface gold grades between 1 and 90.1 g/t gold. This story first appeared on www.MINING.com.