NUNAVUT Vancouver-based MIRAMAR MINING has resumed drilling on the Naartok zone at its Hope Bay gold project on the Arctic coast. The four-hole program will focus on the depth potential of both the Naartok East and Naartok West zones.
The Naartok zone forms part of the Madrid gold system, where mineralization has been defined over 2 km along strike. Madrid is estimated to contain an indicated resource of 565,000 oz and an inferred resource of 1.89 million oz of gold.
Miramar plans to begin development of a high grade gold mine at Doris North deposit as soon as possible, although permitting delays have been encountered. The company’s strategy is to create one infrastructure centre at Doris from which several other deposits along the Hope Bay Belt can be economically mined. The Doris, Boston and Madrid deposits may contain as much as 3.58 million oz of gold in all categories.
Miramar has closed its Giant and Con gold mines in Yellowknife, NWT, where mining began in 1948 and 1938, respectively.
Full financial details for the latest quarter are available at www.MiramarMining.com.