The JERICHO DIAMOND MINE was the first mine since the inception of Nunavut and represented a significant economic opportunity for the region. Located on both Crown and Inuit Owned Lands, the mine is near Contwoyto Lake, about 350km southwest of Cambridge Bay. The project began operations in early 2006 and created 160 jobs in the region. Unfortunately the mine was transitioned to a care and maintenance operation in late 2007 due to financial difficulties. Shear Diamonds Ltd. has taken over ownership of operations as of August 2010. Their current activities include evaluating the potential for economic concentrations of diamonds. Their plan is to conduct exploration on the Carat Property in order to discover new kimberlites and prove up additional diamond resources immediately adjacent to the mine site with the hopes of re-assessing the economics of re-opening the mine.
The DORIS NORTH PROJECT is a fully permitted underground gold mine about 75km northeast of Bay Chimo. Further exploration of the Hope Bay Green Belt continues to the south in Doris Central, Windy Lake and Boston. The project, developed by Newmont Mining subsidiary Hope Bay Mining Ltd, is currently under care and maintenance and will be reclaiming Windy Lake and Boston Camps for closure.
The IZOK LAKE BASE METAL PROJECT is a base metal project located about 250km southeast of Kugluktuk. The owner, MMG Canada is conducting exploration and baseline studies in the area to assess the viability of further development.
The HIGH LAKE BASE METAL PROJECT is a base metal project located approximately 200km west of Kugluktuk. The owner, MMG Canada is conducting exploration and baseline studies in the area to assess the viability of further development.
The LUPIN GOLD MINE located near Contwoyto Lake was an operational gold mine from 1982 to 2005. Since 2005 the site had remained in care and maintenance. Current owner Elgin Mining Inc is conducting exploration and baseline studies for the Lupin Gold Mine and ULU GOLD PROJECT, 160km to the north, in the area to assess the viability of further development to support reopening of the Lupin Gold Mine.
The HACKETT RIVER PROJECT is an exploration project located about 110km south of Bathurst Inlet. The project, owned by the Xstrata Zinc Canada, is in the advanced stages of exploration for silver and zinc.
The BACK RIVER PROJECT is an exploration project located at the Goose Lake and George Lake Camps about 160km southeast of Bathurst Inlet. The project, owned by Sabina Silver Corporation, is in the advanced stages of exploration for gold.