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Articles from the March 13, 2016 edition

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  • Upgraded resource moves Willow Creek a step closer to development

    Shane Lasley|Updated Mar 13, 2016

    Miranda Gold Corp. and Gold Torrent Inc. March 7 published an updated mineral resource for Willow Creek, located roughly 75 miles north of Anchorage, Alaska. This high-grade gold development project is now estimated to contain 206,500 metric tons of measured and indicated resources averaging 18.3 grams per metric ton (121,500 ounces) gold; and 59 thousand metric tons of inferred resource averaging 18.5 g/t (35,150 oz.) gold. Based on information from 174 holes drilled at the...

  • Graphite One closes financing

    Shane Lasley|Updated Mar 13, 2016

    Graphite One Resources Inc. March 3 reported closing a second tranche of a non-brokered private placement offering which, together with the first tranche closed in January, totaled C$704,091 in gross proceeds. Pursuant to the closing of the second tranche, Graphite One issued 3,000,008 units at C9 cents per unit for a total of C$270,001. Each unit consists of one common share and one transferable purchase warrant that entitles the holder to purchase one additional Graphite...

  • Deep Kerr copper-gold deposit tops 1 billion MT

    Shane Lasley|Updated Mar 13, 2016

    Seabridge Gold Inc. March 8 reported an updated resource estimate for the Deep Kerr deposit at its KSM Project in northwestern British Columbia that includes an inferred resource of 1.01 billion metric tons grading 0.53 percent (11.8 billion pounds) copper and 0.35 grams per metric ton (11.3 million ounces) gold, an increase of 3.2 million oz. of gold and 2.1 billion lbs. of copper over last year's estimate. Seabridge Chairman and CEO Rudi Fronk said, "In the three years...

  • Smelters line up to buy Prairie Creek concentrates

    Shane Lasley|Updated Mar 13, 2016

    Canadian Zinc Corp. March 3 said it has entered into a memorandum of understanding with Korea Zinc for the sale of roughly 20,000 to 30,000 wet metric tons of zinc sulfide concentrates; 15,000 to 20,000 wet metric tons of lead sulfide concentrates; and 5,000 metric tons of lead oxide concentrates per year, for a minimum period of five years from the date of startup of its Prairie Creek Mine in Northwest Territories. Canadian Zinc also has entered into a memorandum of...

  • CH-7 diamonds average $100/c; priciest stone worth US$16,555

    Shane Lasley|Updated Mar 13, 2016

    Peregrine Diamonds Ltd. March 8 reported that a 735.75 carat parcel of commercial-size diamonds recovered from five geological units of the CH-7 kimberlite pipe at its Chidliak project in Nunavut were valued at an average price of US$100 per carat. The eight highest value diamonds ranged in size from 1.35 carats to 5.33 carats, weighed 21.58 carats in total, and had a current average price valuation of US$1,619 per carat. The most valuable of the diamonds, the 5.33 carat...

  • Vein continuity, visible gold encourages Golden Predator

    Shane Lasley|Updated Mar 13, 2016

    Golden Predator Mining Corp. March 7 reported that it collected roughly 550 tons of gold-quartz vein material from the Sleeping Giant zone of its 3 Aces project in eastern Yukon Territory and the bulk sampling program continues. This sampling began in mid-February and is expected to conclude by the end of March 2016. Golden Predator originally targeted 550 tons of material, but after noting good vein continuity with visible gold within the down-dip continuation of the vein,...

  • Strongbow cuts deal to buy Mactung, Cantung royalties

    Shane Lasley|Updated Mar 13, 2016

    Strongbow Exploration Inc. March 7 said it has reached an agreement to purchase Teck Resources Ltd. royalty interest in the Mactung and Cantung tungsten projects located along the border between Yukon and Northwest Territories. Under the terms of the agreement, Strongbow will pay Teck C$1.5 million on closing of the acquisition, and make a further C$1.5 million payment when either there has been a decision to develop Mactung or commercial production resumes at Cantung. "We... Full story

  • Initial sampling of Muskox kimberlite shows potential

    Shane Lasley|Updated Mar 13, 2016

    Crystal Exploration Inc. March 3 reported initial diamond recoveries from three holes drilled at its Muskox kimberlite in Nunavut. Three samples - 2,220, 2,159 and 2,084 metric tons - were submitted Saskatchewan Research Council for diamond processing. Recoveries from the samples include 14, 17 and 47, resulting in 0.29, 0.31 and 1.13 carats per metric ton for each respective sample. The largest diamonds recovered were 0.365, 0.282 and 0.253 carats. The diamonds are described... Full story

  • Carmax preps Eaglehead copper deposit for PEA

    Shane Lasley|Updated Mar 13, 2016

    Carmax Mining Corp. March 4 outlined its plans for a C$1.5-million exploration program at its Eaglehead porphyry copper property in northern British Columbia. This first phase of the 2016 program is expected to include: preliminary metallurgical testing to better define the recovery curves for copper, molybdenum, gold and silver; test work to determine a separate molybdenum recovery circuit; re-analysis of existing sample pulps from historical drilling to standardize the...

  • Pushing the envelope

    Shane Lasley, Mining News|Updated Mar 13, 2016

    Will the rare earth elements separation technology that Ucore Rare Metals Inc. has been endeavoring to develop during the past two years revolutionize the recovery of these minerals crucial to modern technology? With the completion of the SuperLigĀ®-One rare earth separation pilot plant, the answer to that question draws nigh. The pilot plant, designed and constructed by Utah-based IBC Advanced Technologies Inc., utilizes a highly-selective process known as molecular...