TMAC Receives Project Certificate for Madrid and Boston Project, Canada
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TMAC Resources has received the project certificate from the Nunavut Impact Review Board (NIRB) for the Madrid and Boston Project. The project certificate marks the end of the environmental assessment process including terms and conditions for monitoring and reporting.
In addition to the project certificate, the Nunavut Water Board (NWB) concluded final hearings on October 25, 2018. The NWB is expected to submit for approval, Type A Water Licenses for the Madrid and Boston mines to the responsible Ministers of Crown-Indigenous Relations and Northern Affairs Canada (CIRNAC) by mid December. The ministerial approval is expected to follow 45 days thereafter. As a result, TMAC is pleased to move forward the anticipated timing for receipt of the Type A Water Licenses to the first quarter of 2019.
The permitting strategy for Madrid and Boston has addressed the development scenario described in the 2015 Pre-Feasibility Study (PFS). It also provided additional flexibility including increases to processing capacity belt wide, additional infrastructure at Madrid and Boston, alternative wind power generation and tailings capacity of 18 million tonnes and 5.1 million tonnes at Doris and Boston respectively. The permitting strategy also includes surface crown pillar recovery similar to what is being executed at the Doris Mine.
“This is another timely and significant milestone in our permitting path. TMAC looks forward to working with the Kitikmeot Inuit Association and responsible government agencies as we enter into the development and monitoring phase of the Madrid and Boston Project. This Project will provide significant long-term economic prosperity and employment in the Kitikmeot region,” said Jason Neal, president and chief executive officer of TMAC.
About TMAC Resources
TMAC holds a 100 percent interest in the Hope Bay Project located in Nunavut, Canada. TMAC is a fully financed, gold development company on target to achieve its path to production plan, beginning with the Doris Deposit, by the end of 2016. The company has a board of directors with depth of experience and market credibility and an exploration and development team with an extensive track record of developing high grade, profitable underground mines.
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