TMAC Resources Inc. has announced that high-grade gold has been drill intersected at depth below the dyke at the Doris Deposit during the company’s ongoing underground drill program, located in the northern part of the Hope Bay Property in Nunavut. Management believes these results could significantly expand the current five-year mine life at the Doris mine and dramatically affect the global reserves and resources and annual gold production at Hope Bay.
The primary objective of the 2016 underground exploration program is to build on the existing Doris mineral resource base and continue to define mineralization below the diabase dyke. The current drilling program is focused on the Doris North BTD zones, following up on significant mineralization intersected in widely spaced drilling during previous drill programs from surface platforms. TMAC also plans to install and commission its mill and expand the power plant as well as stockpile ore and 55,600 ounces of gold.
The Doris North mine could begin operating in 2017 and see $61.8 million in jobs and contracts over six years.