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Canada
Hope Bay Expansion Project (Hope Bay)

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 Location:
74 km NE from Umingmaktok, Nunavut, Canada

  Project Contacts:
93, Rue Arseneault, suite 202
Val-d'Or
Quebec, Canada
J9P 0E9
Phone  ...  Subscription required
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Overview

StagePre-Feasibility
Mine TypeOpen Pit & Underground
Commodities
  • Gold
Mining Method
  • Sub-level stoping
  • Longhole stoping
  • Transverse stoping
  • Longitudinal stoping
  • Cemented backfill
Mine Life2034
The Agnico Eagle has initiated a property wide exploration program and is evaluating the Madrid and Boston deposits for future production.


Owners

Source: p. 228, 232
CompanyInterestOwnership
Agnico Eagle Mines Ltd. 100 % Indirect
The Agnico Eagle completed the purchase of all the issued and outstanding common shares and equity instruments exchangeable for common shares of TMAC Resources Inc. (“TMAC”) on February 2, 2021.

TMAC owned and operated the Hope Bay mine and also owned exploration properties in the Kitikmeot region of Nunavut.

Contractors

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Deposit Type

  • Mesothermal
  • Orogenic
  • Breccia pipe / Stockwork
  • Vein / narrow vein


Summary:

The Hope Bay Property is located within the Hope Bay volcanic belt which is part of a massive structural-geological complex called the Slave Structural Province.

The Hope Bay deposits (Doris, Madrid, and Boston), as well as a large number of other prospects, are considered to be typical of orogenic-type mesothermal lode gold deposits, greenstone-hosted quartz carbonate vein deposits.

• The Doris gold deposit is a typical Archean lode deposit which occurs within an over 3 km long, steeply dipping quartz vein system, in folded and metamorphosed pillow basaltic rocks.
• The Madrid deposit area lies within a north-south striking package of mafic volcanic rocks, comprising a sequence of Fe-Ti tholeiitics, Mg tholeiitics, komatiitic basaltic, synvolcanic to late gabbroic, and ultramafic rocks.
• The geology in the area of the Boston deposit is a bimodal assemblage of mafic and felsic volcanic rocks in contact with sedimentary rocks, all of which are complexly folded about a large-scale synformal-anticline. The core of the anticline is occupied by mafic volcanic rocks that host the Boston deposit and these are in turn overlain by sedimentary rocks.

THE DORIS AREA
The Doris Deposit is located at the north end of the north-south trending Hope Bay greenstone belt of Archean age near Cambridge Bay in Nunavut. Gold mineralization is contained within predominantly sub vertical quartz veins hosted within mafic volcanic rocks.

The ........


Mining Methods

  • Sub-level stoping
  • Longhole stoping
  • Transverse stoping
  • Longitudinal stoping
  • Cemented backfill


Summary:

All mines were scheduled independently, with the sequences beginning as soon as possible. Start
dates were then adjusted for each mine in order to optimize the throughput over the mine life.
Based on these results, further optimization work could be performed, using consolidated
resource leveling and an overall production target. The start dates selected for each deposit are
as follows:
- Doris: Currently in production;
- Naartok: Development in progress (begun December 2019);
- Suluk: Development begins January 2027;
- Madrid South: Development begins January 2027;
- Boston: Development begins July 2025.

The development start dates assume any supporting infrastructure work is complete prior to that date, including construction of the Boston haul road.

Of the 16.8 Mt of ore produced during the LOM (2020-2034), the distribution by mine will include Doris at 7%, Naartok at 46%, Suluk at 22%, Madrid South at 5%, and Boston at 20%.

Current ore mining is ongoing at the Doris deposit and a small crown pillar recovery surface operation at the Madrid North deposit and advances to the Madrid North underground operation, Madrid South, Suluk and Boston deposits will occur sequentially over the defined Life of Mine (LOM).

Production for the Doris Plant LOM period (2020-2023) is on average 1,963 t/d from two mines including Doris and Madrid North (Naartok).

Production for the Madrid Pla ........


Crushing and Grinding
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Processing

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Summary:

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Projected Production:

CommodityUnitsLOM
Gold oz 3,101,365
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

Reserves at December 31, 2019:
The Mineral Reserves for each Individual deposit were defined utilizing the following cut-off grades:
- 4.0 g/t gold for longhole stopes;
- 3.0 g/t gold for incremental development ore required for mining;
- 2.0 g/t gold for the Madrid North crown pillar surface mining.

The Mineral Resources for each Individual deposit were defined utilizing a block cutoff grade of 3.5 g/t.

CategoryTonnage CommodityGradeContained Metal
Proven 99 kt Gold 4.1 g/t 13 koz
Probable 16,782 kt Gold 6.5 g/t 3,532 koz
Proven & Probable 16,881 kt Gold 6.5 g/t 3,545 koz
Measured 1,570 kt Gold 9.5 g/t 481 koz
Indicated 20,246 kt Gold 7.2 g/t 4,691 koz
Measured & Indicated 21,816 kt Gold 7.4 g/t 5,173 koz
Inferred 10,917 kt Gold 6.1 g/t 2,127 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Gold USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2020 study / presentation.

Operating Costs:

Units2020
OP mining costs ($/t milled) CAD 1.21 *
UG mining costs ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

2020 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Expansion CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
OP OpEx $M CAD  ......  Subscription required
UG OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 710.8
G&A costs $M CAD 734
Total OpEx $M CAD  ......  Subscription required
Total Taxes $M CAD  ......  Subscription required
Royalty payments $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Net revenue (LOM) $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 5% $M CAD  ......  Subscription required
Pre-tax NPV @ 10% $M CAD  ......  Subscription required
Pre-tax NPV @ 8% $M CAD  ......  Subscription required
After-tax NPV @ 5% $M CAD  ......  Subscription required
After-tax NPV @ 10% $M CAD  ......  Subscription required
After-tax NPV @ 8% $M CAD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of January 1, 2020:
HME TypeModelQuantity
Bolter ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 1, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 1, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 1, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 1, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 1, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2020
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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