Eldorado Gold Receives Operating Authorization for Ormaque Deposit in Quebec
Eldorado Gold Corporation, a prominent mining company listed on the TSX and NYSE American, has officially announced the receipt of the Operating Authorization for the Ormaque deposit at its Lamaque Complex in Val-d'Or, Quebec. This authorization was granted by the Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks of Quebec, marking a significant milestone for the company's operations in the region.
Unlocking High-Grade Ore and Enhancing Economic Value
The Operating Authorization permits Eldorado Gold to commence mining activities at the Ormaque deposit, enabling the extraction and delivery of high-grade underground ore to the Sigma Mill. This development is poised to unlock the value of capital already invested in the Lamaque Complex, thereby strengthening the economic framework of the project. The Ormaque deposit is strategically located within the Lamaque Complex, benefiting from existing infrastructure such as underground access developed from the Triangle–Sigma decline and proximity to the Sigma Mill.
By integrating Ormaque into the production schedule, Eldorado Gold enhances the flexibility of the Lamaque Complex. The high-grade ore from Ormaque will be sequenced and blended with ore from the Triangle deposit, providing an additional source of feed that supports sustained operations and optimizes resource utilization.
CEO Comments on Progress and Regional Impact
George Burns, Chief Executive Officer of Eldorado Gold, expressed pride in the rapid evolution of the Lamaque Complex since the company's acquisition. He highlighted that the Ormaque Operating Authorization demonstrates Eldorado's ability to efficiently advance a discovery from January 2020 to operating approval in Quebec, supported by promising geology and a strong land position.
Burns emphasized that Ormaque not only provides an additional source of high-grade ore to support the Sigma Mill but also enhances production flexibility and builds on the investments made in underground development. Ongoing drilling efforts aimed at expanding the deposit further reinforce the Lamaque Complex as a cornerstone asset within Eldorado's portfolio. Importantly, bringing Ormaque online is expected to sustain existing employment while creating new job opportunities and generating long-term economic benefits for the Val-d'Or region. This achievement also underscores the positive working relationship between Eldorado Gold and the Quebec government.
Exploration Upside and Future Potential
In January 2026, Eldorado Gold reported strong exploration results around the Ormaque deposit, identifying new zones and extensions beyond the existing Mineral Resource. These include the Ormaque South-East Zone, characterized by flat-lying high-grade gold veins extending from approximately 400 to 900 meters below surface, and the Ormaque West extension, with similar characteristics and openness to the west and at depth.
Additionally, the newly discovered Garnet Zone, hosted within a steeply dipping shear zone with distinct mineralogy and alteration, presents further exploration potential. Given their proximity to the Lamaque processing facilities, these zones have the potential to provide future mill feed and support mine life extension, adding to the long-term viability of the complex.
The receipt of the Operating Authorization for Ormaque represents a critical step forward for Eldorado Gold, aligning with its strategy to maximize value from its assets while contributing positively to local economies and maintaining strong regulatory partnerships.
