Mining News: Northern Neighbors: Deeper high-grade gold drilled at Hope Bay

TMAC Resources Inc. June 8 posted results from high-grade gold intersected below the dyke at the Doris deposit during the company’s ongoing underground drill program at its Hope Bay property in Nunavut. Highlights from drilling of these deeper zones, known as BTD, are: 17. 7 meters of 35 grams per metric ton gold in hole TM50003; 2.6 meters of 25.4 g/t gold in hole TM50007; 5.3 meters of 50.6 g/t gold in hole TM50010; and two meters of 97.7 g/t gold in TM50011. The Doris North BTD zones are the extension of the Doris North zone, below a relatively flat-lying diabase dyke that bisects the known gold mineralization at Doris into upper and lower elevations. The BTD zones are further subdivided into the Doris North BTD East Limb and Doris North BTD Extension, separated by an east-west offsetting fault. Holes TM50003 and TM50007 were drilled in the Doris North BTD extension; TM50010 and TM50011 were drilled in Doris North BTD east limb. TMAC believes the Doris North BTD exploration areas have the potential to add significant high-grade gold ounces to the Doris deposit mineral resources with continued drilling and underground development. TMAC CEO Catharine Farrow said, “Today’s drill results along with historical drill results in this area demonstrate that the Doris high-grade, gold-bearing structures occur below the current shallow depths of the Doris reserves (surface to 150 meters below surface). We are excited by the initial results of our underground drilling program as we begin to explore and define mineralization on the Doris deposit below the diabase dyke. 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.

–Shane Lasley