The mining newspaper for Alaska and Canada's North

Articles from the February 28, 2016 edition

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  • Hecla weathers challenging metals prices

    Shane Lasley|Updated Feb 28, 2016

    Hecla Mining Company Feb. 23 reported US$443.6 million in sales and gross profit of US$38.5 million for 2015. The net loss applicable to common stockholders for the year was US$87.5 million, or US23 cents per basic share, and the adjusted net loss applicable to common stockholders was US$34 million, or US9 cents per basic share. Hecla's average realized silver price for 2015 was US$15.57 per ounce, down 16 percent from 2014. The company's average realized price for gold last...

  • Teck consolidates management

    Shane Lasley|Updated Feb 28, 2016

    Teck Resources Ltd. Feb. 23 reported the retirements of a number of its senior executives, providing the company an opportunity to consolidate and restructure its senior management in a way that will streamline reporting relationships and further align the organizational structure with the current business environment. Teck COO Ian Kilgour, who has been with the company for five years and worked more than 35 years in the mining industry, will retire on April 30. Rob Scott,...

  • Weak metals prices limit growth in Canada's territories

    Shane Lasley|Updated Feb 28, 2016

    The Conference Board of Canada Feb. 24 said declining metal and mineral prices, rising global inventories of most mining commodities and easing growth in the Chinese economy will weigh on the economies of Canada's territories in 2016. Nunavut and Yukon are expected to see positive but modest growth this year, but the economy of the Northwest Territories will remain virtually flat, according to the latest "Territorial Outlook" published by the independent research...

  • Victoria expects big upgrades at Eagle Gold in 2016

    Shane Lasley|Updated Feb 28, 2016

    Victoria Gold Corp. Feb. 23 said 2016 will be a busy and transformative year at its Dublin Gulch gold project in the Yukon Territory. The work planned for this year includes a C$3.6 million exploration program designed to result in a maiden resource estimate for the Olive-Shamrock zone, a near-surface mineralized target situated roughly 2,000 meters from the fully-permitted Eagle Gold project. Victoria said Olive-Shamrock has the potential to enrich Eagle project economics thr... Full story

  • Western embraces more scrutiny of vast Casino copper-gold project

    Shane Lasley|Updated Feb 28, 2016

    Western Copper and Gold Corp. Feb. 18 said the Yukon Environmental and Socio-Economic Assessment Board is requiring a panel review of its Casino copper-gold project for matters relating to tailings and waste management and potential effects to wildlife. A panel review is a higher level of Canada's environmental assessment process that requires a group of experts to scrutinize the project. YESAB informed Casino Mining Corp., a subsidiary of Western, that it has notified the...

  • TerraX cuts more VG at Yellowknife

    Shane Lasley|Updated Feb 28, 2016

    TerraX Minerals Inc. Feb. 23 reported assay results from the first two of four holes targeting quartz vein and replacement style mineralization at the Mispickel target of its Yellowknife City gold project, immediately north of the capital of Northwest Territories. Drilling at Mispickel totaled 384 meters in four holes on two parallel sections roughly 50 meters apart. TerraX reported that all four holes cut multiple zones of sulfide mineralized veins and replacement style...

  • Study indicates Sable can extend Ekati Mine to 2033

    Shane Lasley|Updated Feb 28, 2016

    Dominion Diamond Corp. Feb. 22 reported positive results of a pre-feasibility study for mining the Sable kimberlite pipe located 17 kilometers (10.5 miles) north-northwest of the existing Ekati mine infrastructure in Northwest Territories. The pre-feasibility study updates certain key economic and technical assumptions regarding the Sable project from the preliminary economic assessment published in September. The Sable pipe lies beneath Sable Lake within the Core Zone Joint...

  • Kennady North drills high diamond grades at Faraday

    Shane Lasley|Updated Feb 28, 2016

    Kennady Diamonds Inc. Feb. 18 reported additional high-grade diamond recovery results from the Faraday 1 kimberlite at the Kennady North project in Northwest Territories. During the winter of 2015, a 0.518-metric-tons sample of kimberlite was recovered by core drilling at Faraday 1. Caustic fusion processing of this sample at the Geoanalytical Laboratories Diamond Services of the Saskatchewan Research Council returned 4.65 carats per metric tons of commercial grade diamonds.... Full story

  • Auryn refines 2016 gold targets at Committee Bay, adds Peruvian prospects

    Shane Lasley|Updated Feb 28, 2016

    Auryn Resources Inc. Feb. 21 said analysis of its 2015 summer work program along with a comprehensive review of historical data has led to the identification of a number of large-scale targets at its Committee Bay gold project in Nunavut that will provide the focus of the upcoming 2016 work program. The Anuri corridor, a more than 20-kilometer- (12.5 miles) long region of elevated gold-in-tills located in the southwest part of the Committee Bay gold belt, is one such target.... Full story

  • Price run-up startles

    Curt Freeman, For Mining News|Updated Feb 28, 2016

    Although there is plenty of Alaska mining industry news this month, the big dog in the pen is the dramatic and unexpected run-up in the price of gold, which moved from a low of $1,078 per ounce to a high of $1,246/oz., most of which occurred after Feb. 1. Although profit-taking and other factors have caused the price to back off a bit, the move was both dramatic and unexpected. As you might guess, the ether is full of talking heads telling us why it went up, why it either won'... Full story