Eldorado Files Amended Lamaque Complex Technical Report
Eldorado Gold has filed an amended Technical Report for its Lamaque Complex in Quebec, Canada, following a review by the British Columbia Securities Commission. The amended report, effective December 31, 2024, replaces the January 2025 Report and notably removes the preliminary economic assessment (PEA Case) that included inferred mineral resources from the Triangle and Ormaque deposits.
The amendment maintains the original prefeasibility study (Reserve Case) without changes to mineral resource estimates, reserve estimates, financial assumptions, or economic analysis. Minor modifications include updates to qualified persons' accountability, additional expert experience details, and revisions to the 'Reliance on Other Experts' and 'History' sections to comply with NI 43-101F1 requirements.
Eldorado Gold ha presentato un rapporto tecnico modificato per il suo Lamaque Complex in Quebec, Canada, a seguito di una revisione da parte della British Columbia Securities Commission. Il rapporto modificato, valido dal 31 dicembre 2024, sostituisce il rapporto di gennaio 2025 e rimuove in particolare la valutazione economica preliminare (PEA Case) che includeva risorse minerarie stimate dai depositi Triangle e Ormaque.
La modifica mantiene lo studio di prefattibilità originale (Reserve Case) senza modifiche alle stime delle risorse minerarie, alle stime delle riserve, alle assunzioni finanziarie o all'analisi economica. Le modifiche minori includono aggiornamenti sulla responsabilità delle persone qualificate, ulteriori dettagli sull'esperienza degli esperti e revisioni delle sezioni 'Affidamento su altri esperti' e 'Storia' per conformarsi ai requisiti di NI 43-101F1.
Eldorado Gold ha presentado un informe técnico enmendado para su Lamaque Complex en Quebec, Canadá, tras una revisión de la British Columbia Securities Commission. El informe enmendado, que entra en vigor el 31 de diciembre de 2024, reemplaza el informe de enero de 2025 y elimina notablemente la evaluación económica preliminar (PEA Case) que incluía recursos minerales inferidos de los depósitos Triangle y Ormaque.
La enmienda mantiene el estudio de prefactibilidad original (Reserve Case) sin cambios en las estimaciones de recursos minerales, estimaciones de reservas, supuestos financieros o análisis económico. Las modificaciones menores incluyen actualizaciones sobre la responsabilidad de las personas calificadas, detalles adicionales sobre la experiencia de expertos y revisiones en las secciones 'Dependencia de otros expertos' e 'Historia' para cumplir con los requisitos de NI 43-101F1.
엘도라도 골드는 캐나다 퀘벡에 있는 라마크 컴플렉스에 대한 수정된 기술 보고서를 브리티시컬럼비아 증권 위원회의 검토 후 제출했습니다. 수정된 보고서는 2024년 12월 31일부터 유효하며, 2025년 1월 보고서를 대체하고, Triangle 및 Ormaque 광산에서의 추정 광물 자원을 포함한 초기 경제 평가(PEA Case)를 제거합니다.
수정 사항은 광물 자원 추정, 매장량 추정, 재무 가정 또는 경제 분석에 대한 변경 없이 원래의 사전 타당성 연구(Reserve Case)를 유지합니다. 소규모 수정 사항에는 자격 있는 사람들의 책임에 대한 업데이트, 추가 전문가 경험 세부정보, NI 43-101F1 요구 사항을 준수하기 위한 '다른 전문가에 대한 의존' 및 '역사' 섹션의 수정이 포함됩니다.
Eldorado Gold a déposé un rapport technique amendé pour son Lamaque Complex au Québec, Canada, suite à un examen de la British Columbia Securities Commission. Le rapport amendé, entrant en vigueur le 31 décembre 2024, remplace le rapport de janvier 2025 et supprime notamment l'évaluation économique préliminaire (PEA Case) qui incluait des ressources minérales estimées des dépôts Triangle et Ormaque.
L'amendement maintient l'étude de préfaisabilité originale (Reserve Case) sans modifications des estimations de ressources minérales, des estimations de réserves, des hypothèses financières ou de l'analyse économique. Les modifications mineures incluent des mises à jour sur la responsabilité des personnes qualifiées, des détails supplémentaires sur l'expérience des experts et des révisions des sections 'Dépendance à d'autres experts' et 'Histoire' pour se conformer aux exigences de NI 43-101F1.
Eldorado Gold hat einen geänderten technischen Bericht für seinen Lamaque Complex in Quebec, Kanada, nach einer Überprüfung durch die British Columbia Securities Commission eingereicht. Der geänderte Bericht, der am 31. Dezember 2024 in Kraft tritt, ersetzt den Bericht von Januar 2025 und entfernt insbesondere die vorläufige wirtschaftliche Bewertung (PEA Case), die geschätzte Mineralressourcen aus den Lagerstätten Triangle und Ormaque enthielt.
Die Änderung behält die ursprüngliche Machbarkeitsstudie (Reserve Case) ohne Änderungen der Schätzungen der Mineralressourcen, Schätzungen der Reserven, finanziellen Annahmen oder wirtschaftlichen Analysen bei. Zu den geringfügigen Änderungen gehören Aktualisierungen zur Verantwortung der qualifizierten Personen, zusätzliche Details zur Erfahrung von Experten und Überarbeitungen der Abschnitte 'Vertrauen auf andere Experten' und 'Geschichte', um den Anforderungen von NI 43-101F1 zu entsprechen.
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Insights
The amendment to Eldorado Gold's Lamaque Complex technical report, while primarily administrative, carries several important implications for investors. The removal of the Preliminary Economic Assessment (PEA) Case, which included inferred resources from the Triangle and Ormaque deposits, represents a more conservative approach to resource reporting, aligning with stricter regulatory standards.
The preservation of the Reserve Case fundamentals is crucial, as it maintains the core valuation metrics for the Lamaque Complex. The mineral resource estimates, reserve estimates, and financial assumptions remain unchanged, which provides stability for current valuations. This is particularly significant as Lamaque represents one of Eldorado's key growth assets in the stable mining jurisdiction of Quebec.
From a regulatory perspective, this amendment following a British Columbia Securities Commission review demonstrates the rigorous oversight of technical disclosures in Canadian mining. Technical reports under NI 43-101 standards form the backbone of mining company valuations, and maintaining strict compliance is essential for maintaining market confidence.
The removal of the PEA Case might appear conservative, but it actually strengthens the technical report's credibility by focusing on more certain resource categories. This aligns with best practices in mining disclosure, where companies are encouraged to base their primary valuations on measured and indicated resources rather than inferred resources, which carry higher geological uncertainty.
VANCOUVER, British Columbia, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) announces the filing of an amended Technical Report in respect of its Lamaque Complex (the “Amended Technical Report”), following a continuous disclosure review by the staff of the British Columbia Securities Commission. The Company previously filed a technical report titled "Technical Report - Lamaque Complex, Québec, Canada” prepared by the Company and filed on SEDAR+, on January 27, 2025, with an effective date of December 31, 2024 (the "January 2025 Report").
The January 2025 Report included a prefeasibility study in respect of the Lamaque Complex (the “Reserve Case”), as well as a preliminary economic assessment incorporating inferred mineral resources from the Triangle and Ormaque deposits (the “PEA Case”). The Amended Technical Report supersedes and replaces the January 2025 Report and reflects the removal of the PEA Case. The Amended Technical Report does not alter the Reserve Case nor any of the mineral resource estimates, the mineral reserve estimates, the financial assumptions and economic analysis in the Reserve Case.
The following is a summary of the other minor changes made: the qualified persons taking accountability for certain portions of the Amended Technical Report, as well as additional detail on the experience of the qualified persons were included; updates were made to the sections entitled “Reliance on Other Experts” and “History” to comply with NI 43-101F1 requirements and dates, names and professional designations were aligned on the cover pages of the Amended Technical Report.
The Amended Technical Report is titled "Technical Report Lamaque Complex, Québec, Canada", effective December 31, 2024. The Amended Technical Report is available under the Company's issuer profile at www.sedarplus.ca.
Jessy Thelland, géo, (OGQ No. 758), Technical Services Director Lamaque at Eldorado Gold (Québec) Inc., a member in good standing of the Ordre des Géologues du Québec, is the qualified person under NI 43-101, has approved all scientific and technical information in this news release.
About Eldorado Gold
Eldorado is a gold and base metals producer with mining, development and exploration operations in Türkiye, Canada and Greece. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).
Contact
Investor Relations
Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
lynette.gould@eldoradogold.com
Media
Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
chad.pederson@eldoradogold.com
FAQ
What changes were made to Eldorado Gold's (EGO) Lamaque Complex Technical Report in February 2024?
Does the amended Lamaque Technical Report affect EGO's mineral resource estimates?
Why did Eldorado Gold (EGO) file an amended Lamaque Technical Report?
What was removed from EGO's original January 2025 Lamaque Technical Report?
