The mining newspaper for Alaska and Canada's North

Articles from the January 17, 2016 edition

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  • New explorer seeks gold reserves in prolific Goodpaster District

    Shane Lasley|Updated Jan 17, 2016

    Gold Reserve Inc. Jan. 13 reported plans to acquire the LMS gold project in the Goodpaster Mining District near the Pogo Mine in Interior Alaska. Gold Reserve Corp., a wholly owned subsidiary of Gold Reserve Inc., has agreed to pay Raven Gold Alaska Inc. US$350,000 to acquire the LMS gold claims, together with certain personal property. Raven Gold, a wholly-owned subsidiary of Corvus Gold Inc., will retain a three percent net smelter return royalty interest on precious metals...

  • Pebble CEO: New watchdog report on EPA is 'embarrassing failure'

    Shane Lasley|Updated Jan 17, 2016

    U.S. Environmental Protection Agency, Office of Inspector General, Jan. 13 said it could not find any evidence that the EPA was unfair while conducting the Bristol Bay Watershed Assessment, a study of the potential risks large scale mining might pose the abundant fish resources in the Bristol Bay region of Southwest Alaska. "Based on available information, we found no evidence of bias in how the EPA conducted its assessment of the Bristol Bay watershed, or that the EPA...

  • Diamond Gold plans to build mill near Seward

    Shane Lasley|Updated Jan 17, 2016

    Diamond Gold Corp. Jan. 8 unveiled plans to build and operate a 100 short-ton-per-day hard rock mill in the Seward Mining District. The Alaska-based gold and gem mining company is considering a number of locations for the mill, including: Moose Pass, Crown Point or Seward. Ore to feed the year-round mill will be purchased and mined from small gold-quartz mines operating in Hope, Summit Lake and Crown Point. The company is also considering the potential of shipping ore from...

  • 20,000 g/t gold drilled in Valley of the Kings

    Shane Lasley|Updated Jan 17, 2016

    Pretium Resources Inc. Jan. 8 said the fifth set of results from an underground infill drill program at the Valley of the Kings deposit of its Brucejack gold project in northwestern British Columbia continues to confirm the style and grade distribution of the gold mineralization in the area currently being tested. The best intercept from this round came in hole VU-545, which cut 21 meters averaging 494.91 grams of gold per metric ton uncut, including 20,287 g/t gold uncut...

  • Pocket of high-grade copper lifts Minto output

    Shane Lasley|Updated Jan 17, 2016

    Capstone Mining Corp. Jan. 13 said strong performance at its Minto Mine in Yukon Territory and Pinto Valley Mine in Arizona helped the company meet its guidance for 2015 copper production despite setbacks at the Cozamin Mine in Mexico. The three mines produced 26,000 metric tons of copper during the fourth quarter and 92,900 metric tons for the full year. At Minto, a pocket of high-grade underground ore in excess of three percent copper in close proximity to existing... Full story

  • Chidliak kimberlite produces large diamonds

    Updated Jan 17, 2016

    Peregrine Diamonds Ltd. Jan. 12 reported that an 814-metric-ton bulk sample from the CH-7 kimberlite pipe at the Chidliak diamond project in Nunavut returned an overall grade of 0.88 carats of diamonds per metric ton. A total of 717.65 carats of commercial-size diamonds were recovered, including 53 diamonds larger than one carat and 183 diamonds over a half carat in size. The largest gem quality diamond recovered was 5.33 carats. Other notable diamonds include: a 5.02 carat off-white transparent octahedron with minor...

  • Junior taps more oxide copper at Yukon Territory mine project

    Shane Lasley|Updated Jan 17, 2016

    Copper North Mining Corp. Jan. 11 said results from a second phase of 2015 drilling at Carmacks continues to demonstrate the potential to significantly expand known oxide mineral resources at this copper-gold-silver project in the Yukon Territory. The company said all 12 holes drilled during the second phase tapped near-surface oxide copper mineralization at the south end of Zone 13 and the north end of Zone 12. Highlights from the drilling include: 23.85 meters of 0.73... Full story

  • Exceeding expectations

    Shane Lasley, Mining News|Updated Jan 17, 2016

    Higher grades, increased milling rates and improved recoveries add up to a banner year for both the Kensington and Greens Creek mines in Southeast Alaska. Kensington, the youngest of the two mines located near Alaska's capital city of Juneau, got off to a slow start when owner Coeur Mining Inc. was finally able to begin operations in 2010. In recent years, however, the mine has steadily increased its gold output while reducing the costs to mine the precious metal -...

  • Freeport opts out of Tanzilla copper project in northern BC

    Shane Lasley|Updated Jan 17, 2016

    Kaizen Discovery Jan. 8 reported that Freeport-McMoRan of Canada Ltd. has terminated an earn-in option on the Tanzilla copper-gold porphyry project in the Golden Triangle area of northwestern British Columbia. The 4,625-hectare Tanzilla property covers a seven-kilometer- (4.4 miles) long alteration zone. Silica Ridge is the primary target along this alteration zone. Induced polarization surveys confirmed the presence of a strong chargeability high to depths of at least 500...

  • Banks Island files for bankruptcy

    Shane Lasley|Updated Jan 17, 2016

    Banks Island Gold Ltd. Jan. 8 reported that its directors have determined the company needs to file for bankruptcy. D. Manning & Associates Inc. will act as trustee in bankruptcy. Fred Sveinson, Jason Nickel, and John Anderson have since resigned from the Banks Island Gold board of directors. President and CEO Benjamin Mossman is currently the sole director of the company. Since 2010, Banks Island has been working toward reaching commercial production at its Yellow Giant...

  • Fortune produces battery grade cobalt from Nico concentrates

    Shane Lasley|Updated Jan 17, 2016

    Fortune Minerals Ltd. Jan. 8 reported that battery-grade cobalt sulfate heptahydrate has been produced from a cobalt sulfate product previously mined in a pilot plant from concentrates originating at its Nico gold-gold bismuth-copper project in Northwest Territories. The premium-grade cobalt sulphate heptahydrate sample, produced by SGS Canada Inc., exceeds the specifications of several large lithium-ion battery manufacturers. It was produced to provide a product for testing...

  • Junior evaluates developing gold mine at Ulu project, NU

    Shane Lasley|Updated Jan 17, 2016

    WPC Resources Inc. Jan. 7 reported that it has hired Tetra Tech Inc. to evaluate the potential of developing a mine at the Ulu gold property in Nunavut. In 2015, a measured and indicated resource of 2.5 million metric tons averaging 7.53 grams per metric ton (605,000 ounces) gold was calculated for Ulu. Consideration will be given to utilizing the milling equipment available at the past-producing Lupin Mine, located about 150 kilometers (95 miles) south of Ulu. Recent... Full story