NUNAVUT – TMAC Resources of Toronto has signed a three-year transportation agreement with Summit Air Kitikmeot, in partnership with Summit Air of Yellowknife, NT. The contract will provide air transport for mining crews to TMAC’s Hope Bay gold project now under development south of Cambridge Bay.
Summit will provide regular flights from Edmonton to the mine site with one of its twin-engine ATR-72. Operations will begin in early May 2016.
TMAC is preparing the Hope Bay project for production beginning in 2017. This is to be an underground mine and 2,000 t/d mill producing 160,000 oz of gold annually over a 20-year mine life. All-in sustaining costs are estimated to be US$785 per oz. Proven and probable reserves are 14.2 million tonnes grading 7.7 g/t Au and containing 3.5 million oz of gold.
More information about Hope Bay is posted at www.TMACResources.com and the latest 43-101 report is on SEDAR.