NUNAVUT – Technically the Hope Bay gold project owned by MIRAMAR MINING of Vancouver is not yet a “development” project, but by the sound of things it soon will be. Permitting is advanced for the high-grade Doris North pit, and start-up could come as soon as late 2008. Engineers are studying which of two rates6,000 or 16,000 t/dwould be the most cost-effective.
The three Hope Bay deposits (Doris, Madrid and Boston) are estimated to contain over 8.8 million oz of gold. Indicated resources total 17.8 million t averaging 6.0 g/t Au. The additional 34.2 million t of inferred material grades 4.9 g/t Au.
Plans for this year are equally ambitious. Miramar plans to spend $30 million this year (the same level as 2006) on its programs at Hope Brook, including a preliminary assessment for both an underground or large-scale combination underground/open pit development of the Madrid deposit.
The Hope Bay project is described in detail at www.MiramarMining.com.