24 May 2017
05/24/2017
TORONTO--(BUSINESS WIRE)-- The Nunavut Water Board (“NWB”) in consultation with the Nunavut Impact Review Board (“NIRB”) has issued a new Type B Water Licence for the Madrid North and Madrid South deposits which are situated on the Company’s Hope Bay property located in the Kitikmeot region of Nunavut, Canada.
The receipt of the Type B Water Licence for Madrid North and Madrid South will allow TMAC to conduct advanced exploration programs at both deposits, including establishing underground infrastructure for exploration and collection of bulk samples for testing at the Doris Mill Complex. The Madrid North deposit is approximately eight km south of TMAC’s Doris North Mine and Mill Complex, and is connected to Doris by an all-weather road.
Dr. Catharine Farrow, Chief Executive Officer of TMAC, stated: “Receipt of these licences will allow the Company to proceed as planned to advance the testing of the Madrid deposits and, should the testing be successful, to provide ore feed to the Doris Mill Complex starting in 2020. This is another important milestone for TMAC as we transition from developer to producer.”