NUNAVUT - About 70 km north of Baker Lake to the west of Hudson Bay, CUMBERLAND RESOURCES of Vancouver says it will develop its Meadowbank gold project. Production should begin in late 2008 or early 2009, provided permits and financing are arranged in a timely manner. The project carries a preproduction price tag of $313 million.
Plans call for the creation of shallow pits dubbed Goose Island, Portage and Vault. A milling complex is to be built. Annual output over the 8.1-year life of the mines would be 330,000 oz of gold.
Cumberland hopes to receive its project certificate from the Nunavut Impact Review Board in the fourth quarter of 2006, following federal review of the NIRB's positive recommendation. Cumberland has initiated procurement, staging and shipping of equipment and supplies for construction of the conventional access road from Baker Lake to Meadowbank.
Employment opportunities at the project are listed on Cumberland's website or contact Brad Thiele, VP Meadowbank development, in Vancouver at 604-608-2557 ext 227 or [email protected]