TMAC nears first gold

TMAC Resources Inc. Jan. 11 said it anticipates producing between 130,000 and 140,000 ounces of gold during the first year of production at its Hope Bay Mine in the Kitikmeot region of Nunavut.

The company said commissioning of the processing plant is progressing smoothly and the first saleable gold is expected in early February. Commercial production for the initial 1,000-metric-ton-per-day recovery plant is slated to be reached by the end of the first quarter.

"Ore is starting to move through the processing plant, tailings pipeline construction is nearing completion, the crushing, grinding, gravity and flotation circuit is largely commissioned and we are working towards final commissioning of the concentrate treatment circuit," explained TMAC CEO Catharine Farrow.

For the balance of 2017, TMAC will focus on doubling of gold production by the end of the year. A second processing plant is currently under construction and is slated for ocean delivery this summer and brought online by the end of the year.

In addition to ramping up production, the company plans to continue a robust exploration program at Hope Bay.

The 2017 exploration and evaluation activities will include 16,000 meters of underground drilling at the BTD zone of Doris, a recent discovery that has added to the high-grade gold currently being mined; and 14,000 meters of drilling at Naartok and Boston, two other deposits found on the 1,100-square-kilometer (425 square miles)Hope Bay property.

-SHANE LASLEY