TMAC announces Q3 operating results

14 October 2020

TMAC Resources Inc. reports third quarter 2020 results for production and certain operating metrics.

  • Production: 18,420 ounces of gold produced, and 21,200 ounces of gold poured
  • Sales: 27,650 ounces of gold sold
  • Mining: 670 tonnes per day (“tpd”), with a grade of 10.6 grams per tonne (“g/t”) Au
  • Processing: 1,630 tpd average on Operating Days(1) (720 tpd average for the quarter), with a feed grade of 9.8 g/t Au, and 88% recovery
  • Development metres: 800 metres at Doris
(1)During reduced operations, Operating Days are defined as all days in the quarter within the operating cycle of the campaign. Campaigns generally consist of three operating weeks followed by three down weeks.
Jason Neal, President and Chief Executive Officer of TMAC, stated, “In the third quarter of 2020 we continued executing the reduced operating plan at Hope Bay. At the end of July 2020, we started to operate the processing plant on a campaign basis for three weeks at a time. As a result, we produced 18,420 ounces of gold in the third quarter and 79,680 ounces year-to-date. Third quarter gold recovery was 88% on 1,630 tpd processing rate based on Operating Days and a feed grade of 9.8 g/t. In the month of August, the processing rate was 1,700 tpd based on Operating Days and recovery was 90%, the first such month that TMAC has achieved its plant recovery target.”