TMAC Resources gains permit milestones for two gold deposits in Canada

22 January 2018 (Last Updated February 19th, 2020 13:12)

TMAC Resources has secured significant permit approvals for its Madrid and Boston gold deposits in Nunavut, Canada.

TMAC Resources has secured significant permit approvals for its Madrid and Boston gold deposits in Nunavut, Canada.

The company announced that the Nunavut Impact Review Board (NIRB) and the Nunavut Water Board (NWB) have accepted the final environmental impact statement and water licence applications for the projects.

The respective authorities will now carry out the coordinated review of TMAC’s proposal for development and mining at the Madrid and Boston gold deposits.

TMAC will work with the Kitikmeot Inuit Association, Kitikmeot communities, and government departments during the NIRB and NWB coordinated review process.

The coordinated review process, subject to successful completion, will provide TMAC with new project certificates and water licences.

“We will have permits that will allow TMAC to mine up to 5,600t per day at Madrid and Boston.”

TMAC executive chairman Terry MacGibbon said: “We already have an exploration permit to conduct surface exploration over the entire 80km by 20km Hope Bay gold belt.

“We also have advanced exploration permits, which allow us to go underground at Madrid to extract a bulk sample and to reopen the portal at Boston to extract a bulk sample where we have 3km of underground infrastructure.

“Once the project certificates and type A water licences are obtained, we will be able to put both Madrid and Boston into production.

“In total, we will have permits that will allow TMAC to mine up to 5,600t per day at Madrid and Boston.”

The Madrid and Boston properties are expected to start commercial production in 2020 and 2022 respectively.