24 February 2017
02/23/2017
TORONTO--(BUSINESS WIRE)-- TMAC Resources Inc. (TSX:TMR) (“TMAC” or the “Company”) filed its Year-End Financial Statements, Management’s Discussion & Analysis and Annual Information Form for the year ended December 31, 2016, which documents can be found on the Company’s website at www.tmacresources.com or on SEDAR at www.sedar.com. The highlights provided below are derived from these documents and should be read in conjunction with them.
Dr. Catharine Farrow, Chief Executive Officer of TMAC, stated, “We are thrilled with our progress in bringing the Doris mine and mill complex into production. At year-end, our high-grade ore stockpile totalled 121,600 tonnes grading 14.5 grams per tonne gold and containing 56,500 ounces of gold. On the processing side, we poured our first gold February 9th and recently completed plant commissioning. The ore stockpile will be used to augment our mill throughput to 1,000 tonnes per day during 2017 as we ramp-up mining to 1,000 tpd and our planned expansion to 2,000 tonnes per day starting in early 2018. All of this has been achieved essentially on time and on budget.”
She added, “We are now focused on process optimization, on-site operator training and ramp up to steady state production in order to attain commercial production this quarter. TMAC’s schedule and budgetary successes on its Path to Production are the result of the tremendous work and dedication by our employees, Gekko, other contractors and consultants. We would also like to acknowledge the great support of the communities of the Kitikmeot Region and our Inuit landowners. We look forward to continuing to deliver on our vision to build the Hope Bay belt into a multi-generational mining camp.”