Overview
- Agnico Eagle acquired TMAC Resources Inc., the previous owner and operator of the Hope Bay gold mine, in 2021, and suspended production activities in 2022 to focus primarily on the property’s exploration potential at the Doris and Madrid gold deposits.
- The 80-km-long Hope Bay greenstone belt hosts three gold deposits (Doris, Madrid and Boston) and over
90 regional exploration targets.
- The property contains significant infrastructure including: underground mine development at Doris and Boston; an enclosed processing plant building and a tailings impoundment area at Doris; a gravel airstrip at Doris capable of handling Boeing 737 aircraft and a secondary gravel airstrip at Boston; an expanded port with a laydown facility and fuel storage at Roberts Bay;
an all-weather road network; a diesel power plant; and an expanded office-accommodations complex.
- In total, Hope Bay hosts 3.4 million ounces of gold in proven and probable mineral reserves (16.2 million tonnes grading 6.53 g/t gold), 2.2 million ounces of gold in indicated mineral resources (14.9 million tonnes grading 4.61 g/t gold) and 3.2 million ounces of gold in inferred mineral resources (16.9 million tonnes grading 5.98 g/t gold), as at December 31, 2025.
- Key permits and approvals required to construct and mine the Doris, Madrid and Boston deposits at up to 4,000 tpd are already in place. Hope Bay has the potential for approximately 400,000 ounces of annual gold production.
- The Company is actively exploring the Hope Bay property, including the ongoing development of two exploration ramps at Madrid.
For more information on our exploration projects and activities, see the Company’s recent news.