Western Nunavut gold miner aims to boost production
TMAC Resources Inc.’s Hope Bay mine shooting for 45,000 ounces in the fourth quarter
TMAC Resources Inc. poured its first gold bar from Hope Bay’s Doris North mine in 2017. Now, after some challenges with its mill, the western Nunavut miner aims to ramp up production to the end of 2019. (File photo)
The western Nunavut gold miner TMAC Resources Inc. says it has improved its gold production from its Hope Bay mine operation.
“Both plant and mine operating performance improved quarter-over-quarter,” Jason Neal, TMAC’s president and CEO, said in an Oct. 15 release.
This map shows the location of TMAC’s Hope Bay mine complex in western Nunavut. (File image)
The Hope Bay gold field, which is roughly 80 kilometres long and 20 km wide, is located on the mainland about 65 km east of Bathurst Inlet, 150 km southwest of Cambridge Bay and 700 km northeast of Yellowknife.
The report said the company’s third-quarter results show that 36,290 ounces of gold were produced and 37,580 ounces of gold were sold.
That’s compared to 38,520 ounces produced and 37,730 ounces sold in its second quarter.
TMAC said plant recoveries had improved to 82 per cent in the third quarter.
“To deliver in the range of our full year guidance we will need to produce 45,000 ounces in the fourth quarter. This is within our capability,” Neal said.
The Kitikmeot Inuit Association’s lands department said at the recent annual general meeting in Cambridge Bay that the TMAC mill had not yet achieved its predicted recovery of gold from the ore but that TMAC was working to resolve the problems.
TMAC said it will release its financial results on Oct. 31.
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