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TMAC Resources Inc.
Summary
| Project: | Hope Bay | |
|---|---|---|
| Deposit: | Hope Bay | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 3/30/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 30-3-2020: TMAC Resources Inc. announces a Pre-Feasibility Study report for its Hope Bay deposit at the Hope Bay project. Updated PFS results incl. post-tax NPV (5%) of C$486M & IRR of 19.7%. TMAC Resources Inc. (TMAC or The Company) has prepared an updat | |
| Resources: | (Reserves, P+P): 16.8Mt @ 6.5g/t Au (3,545koz Au) | |
| CP/QP: | [Resources]: David M. King (Internal) | |
| ABSTRACT: | TMAC Resources Inc. (TMAC or The Company) has prepared an updated Prefeasibility Study report (PFS or the Study) of the Hope Bay Property (Hope Bay or the Property or the Project), located in Nunavut Territory, Canada. The purpose of this report is to demonstrate the economics of expanding capacity of the current mining and processing operations at Hope Bay, by building a second processing facility and related infrastructure for replacement of the currently operating Doris processing facility (Doris Plant). TMAC is a publicly traded company involved in the exploration, evaluation, development and mining of the Hope Bay mineral property in the Kitikmeot Region of Nunavut, Canada. TMAC completed the acquisition of the Hope Bay Property from Hope Bay Mining Ltd., a subsidiary of Newmont Corporation (Newmont), on March 12, 2013. Hope Bay has been in commercial production since June 1, 2017. Hope Bay is a fly in/fly out operation serviced from Edmonton, Alberta, Yellowknife, Northwest Territories and several Kitikmeot, Nunavut communities with supplies provided by annual sealift and regular aircraft. The nearest community and commercial airport are in Cambridge Bay, approximately 160 km by air. | |
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