Home » Hope Bay

Hope Bay

TMAC Resources began commercial production at its Hope Bay gold project in Nunavut in mid 2017. Photo: TMAC Resources
  • Gold
  • The Doris gold deposit is the first of three to be mined at Hope Bay
    130 kilometres south of Cambridge Bay
  • Owned and operated by TMAC Resources
  • Mine life to 2037
  • TMAC exploration permit, for an area 80 kilometres by 20 kilometres, covers majority of Hope Bay Greenstone Belt
  • Doris deposit first to be mined, Madrid and Boston deposits expected to commence production in 2020 and 2022
  • Madrid and Boston deposits environmental impact statement and water licence applications January 2018, Nunavut Impact Review Board and Nunavut Water Board begin review of development and mining
  • In July 2018, Nunavut Impact Review Board approves Boston-Madrid to proceed (next steps include project certificates and type A water licences, which will allow both deposits to go into production)
  • Proven and probable mineral reserves of 3.6 million ounces gold grade 7.7 grams per tonne
  • 2012-2016 TMAC acquires Hope Bay, raises funds, defines resource, completes permitting
  • Socio-economic northern legacy through 2016 – 233 person years employment, $384 million spend
  • 1988 to 1999, BHP Billiton discovered and drilled Doris, Boston, and Madrid deposits
    TMAC has a 100% interest in the 1,101 square kilometre Hope Bay property in Nunavut. The property is a high-grade gold deposit with approximately 4.9 million ounces (measured and indicated mineral resources), 1.7 million ounces (inferred), and 3.6 million ounces (proven and probable mineral reserves). Photo: TMAC Resources