Since acquiring Amaruq in 2013, Agnico Eagle Mines Ltd. has elevated the Nunavut property from an intriguing grassroots prospect to a 2-million-ounce gold deposit that could follow the company's Meadowbank Mine as a successful venture in Nunavut.

"While it is still at an early stage of exploration, in less than two years, the Amaruq property has advanced from a grassroots discovery to a project...