TMAC Resources posts good gold assays at Hope Bay operation

TMAC Resources Inc. [TMR-TSX; TMMFF-OTC] has provided an interim exploration update, including surface exploration drilling results at the Doris Mine area and initial drilling results from the Doris regional program, including high-grade gold intercepts within 15 metres of surface. TMAC operates the 100%-owned producing Hope Bay Mine located 65 km east of Bathurst Inlet, Nunavut, where the Doris Mine is part of the operation.

Doris BTD extension (drilling from underground)

TMDBE-19-50046: 193.3 g/t gold over 1.8 metres;

And 42.0 g/t gold over 0.6 metres;

And 333.0 g/t gold over 0.6 metres.

TMDBE-19-50500: 15.6 g/t gold over 4.4 metres.

TMDBE-19-50501: 105.8 g/t gold over 1.5 metres.

TMDBE-19-50507: 110.8 g/t gold over 10.8 metres;

And 7.5 g/t gold over 3.1 metres.

Doris Valley highlights (drilling from surface)

TMRDC-19-00002:

3.7 g/t gold over 0.4 metres;

And 7.7 g/t gold over 7.5 metres;

Including 11.8 g/t gold over 4.3 metres.

TMRDC-19-00003: 5.3 g/t gold over 4.8 metres;

Including 12.5 g/t gold over 1.6 metres.

TMRDC-19-00004: Nine g/t gold over 8.5 metres;

Including 15.4 g/t gold over 2.3 metres.

TMRDC-19-00005: 4.6 g/t gold over 1.3 metres;

And 97.6 g/t gold over 0.3 metres.

Jason Neal, President and CEO, said: “We continue to have strong drilling results in the growing Doris BTD extension zone, including in one hole 110.8 grams per tonne gold over 10.8 metres. Additionally, initial drill results in a new zone we are calling Doris Valley, as part of our Doris regional program, are intriguing and we are evaluating our follow-up strategy. At Doris Valley, assays from two holes in the vicinity of good surface grab samples included promising intercepts within the first 15 metres from surface. The first encountered 9 grams per tonne gold over 8.5 metres, including 15.4 grams per tonne gold over 2.3 metres, and a second had 5.3 grams per tonne gold over 4.8 metres, including 12.5 grams per tonne gold over 1.6 metres. There is obviously more work required to follow up on this initial success, but this highlights the potential to grow our mineral inventory through even modest exploration investment.”

Doris – exploration drilling

Subsequent to the July 15, 2019, second quarter exploration news release, surface exploration drilling continued at Doris, north of the known deposit in the Doris Valley. Near-surface drilling was targeted below historical surface outcrop samples, which included 62.5 g/t gold and 113.1 g/t gold and drilling at depth was targeted 325 metres north along the potential strike of the Doris BTD extension zone. To date, five holes have intersected the Doris deposit stratigraphy, with mineralized quartz veins at the iron-titanium tholeiite/magnesium tholeiite contact suggesting the Doris BTD stratigraphy continues at least 375 metres along strike to the north.

Additional drilling is required to determine the relationship to the known Doris deposit and if this a continuation of the Doris North BTD extension, a fault offset block, or a new mineralized zone. These results represent a significant stepout from the currently defined mineral resources and increases the company’s confidence in the long-term sustainability of Doris operations.

Also, at the Doris Mine, underground expansion and infill drilling is continuing on the high-grade Doris BTD extension zone and additional assays have been received. Highlights from the underground expansion drilling program include drill hole TMDBE-19-50046, returning 193.3 g/t gold over 1.8 metres, 42.0 g/t gold over 0.6 metres and 333.0 g/t gold over 0.6 metres and drill hole TMDBE-19-50501 returning 105.8 g/t gold over 1.5 metres. Highlights from infill drilling at the south end of the zone, near the current underground access development, include drill hole TMDBE-19-50507 returning 110.8 g/t gold over 10.8 metres and 7.5 g/t gold over 3.1 metres.

Underground infill and expansion drilling on the BTD extension will continue through the remainder of 2019.