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FAR NORTH
diamond mine, the largest new diamond
producer globally. The mine is situated at
Kennady Lake, about 300 km northeast of
Yellowknife. Gahcho Kue contains a cluster
of four diamondiferous kimberlites, three
of which are being developed and mined
under the initial 12-year mine plan. The
$1 billion project is expected to produce
about 4.5 million carats annually.
Terrax Minerals Inc. [TXR-TSXV;
TRXXF-OTC; TX0-FSE] reported assays
from the field program on the Yellowknife
City gold project near Yellowknife. First
assays were from sampling on two new
zones – Gull Lake and Rater Lake – on
the Northbelt property; the same geol-
ogy that hosted the Giant and Con mines.
Highlights are 43.7 g/t, 28.0 g/t and 19.05
g/t gold on the Gull Lake Zone with sev-
eral additional assays in the 1-5 g/t gold
range on both zones. These gold zones are
interpreted as being the continuation of
the Giant Mine gold structure, warranting
immediate further work.
NUNAVUT
Over the next four years, Nunavut will see
Baffinland Iron Mines Corp.'s Mary River
and TMAC Resources Inc.'s [TMR-TSX]
new Hope Bay Mine ramp up production.
It will also witness the opening of two new
sites by Agnico-Eagle Mines Ltd. [AEM-
TSX, AEM-NYSE].
Agnico's Meliadine Mine will be a game
changer, analysts say. It will be Nunavut's
fourth mine and is slated for start-up in
late 2019. At about the same time, the
company is bringing on a satellite deposit
at the Meadowbank Mine. Agnico Eagle
is building a 64-km road connecting
Meadowbank with the newly approved
Amaruq deposit. Agnico Eagle is spending
$1.6 billion to develop these operations.
The Meliadine Mine is 25 km north of
Rankin Inlet. Amaruq is a satellite deposit
of the existing Meadowbank Mine, located
110 km north of Baker Lake.
Silver Range Resources Ltd. [SNG-
TSXV] is a project generator working in
politically stable jurisdictions that are
known to host high-grade gold depos-
its. It currently has projects in Yukon,
