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Articles from the May 1, 2016 edition

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  • Electrum nabs major share of Victoria Gold financing

    Updated Jan 27, 2018

    Victoria Gold Corp. April 20 reported plans to raise C$24 million through a private placement of 80 million units at C30 cents each. Electrum Strategic Opportunities Fund L.P. has subscribed to 60 million of the offered units and Sun Valley Gold LLC has subscribed to the remaining 20 million units. Upon closing of the private placement, Electrum is expected to own roughly 13.6 percent of Victoria Gold's issued and outstanding shares while Sun Valley, already a significant shareholder, will increase its ownership to around 18...

  • BLM enters final stage of EA for¬†exploration road at Palmer

    Shane Lasley|Updated May 1, 2016

    The U.S. Bureau of Land Management April 26 opened a 30-day public review and comment period on environmental analysis of Constantine Metal Resources Ltd.'s proposed plan of operations to expand exploration at its Palmer project located on federal mining claims near Haines, Alaska. The plan, submitted by Constantine last June, proposes up to 2.5 miles of additional road construction that would provide access to up to 40 new drill sites on the Southeast Alaska property. The...

  • Red Dog production up; Qanaiyaq pit development now underway

    Shane Lasley|Updated May 1, 2016

    Teck Resources Ltd. April 26 reported its Red Dog Mine in Northwest Alaska produced record amounts of combined zinc and lead concentrates during the first quarter of 2016. During the first three months of the year, 1.08 million metric tons of ore averaging 17.4 percent zinc and 5.2 percent lead was milled at Red Dog, compared with 1.06 million metric tons averaging 16.5 percent zinc and 4.6 percent lead during the same period a year earlier. As a result, the mine produced...

  • Independence lays out $1.5M Yukon exploration plan

    Shane Lasley|Updated May 1, 2016

    Independence Gold Corp. April 27 reported an initial C$1.5 million exploration budget for 2016, which will fund roughly 1,500 meters of reverse circulation drilling at its Boulevard project, trenching on the Moosehorn project and geochemical sampling on several of the company's Yukon properties. All projects are located in the White Gold District south of Dawson City. Located about 135 kilometers (85 miles) south of Dawson City, Boulevard is contiguous to Kaminak Gold Corp.'s...

  • Early maiden resource reveals part of Spectrum

    Shane Lasley|Updated May 1, 2016

    Skeena Resources Ltd. April 25 reported a maiden resource estimate for Spectrum and plans for the 2016 field season at the gold-copper project located in the Golden Triangle of northwestern British Columbia. The Central Zone of the Spectrum deposit hosts 8.95 million metric tons of indicated resource averaging 1.04 grams per metric ton (290,000 ounces) gold, 6.58 g/t (1.82 million oz.) silver and 0.11 percent (20.835 million pounds) copper. Additionally, the deposit hosts 22.6... Full story

  • Atac raises C$3.25M for Rackla Gold exploration

    Shane Lasley|Updated May 1, 2016

    Atac Resources Ltd. April 24 reported the closure of a C$3.25 million non-brokered private placement, consisting of the sale of 5 million flow-through common shares at C65 cents each. "This financing allows Atac to minimize the use of its C$16 million treasury of hard-dollars (non-flow-through dollars)," Atac President and CEO Graham Downs explained. "With approximately C$19 million now in its treasury, Atac is well-positioned to substantially advance the newly discovered...

  • Winter drilling extends Wellgreen's Far West

    Shane Lasley|Updated May 1, 2016

    Wellgreen Platinum Ltd. April 22 posted results of the 2015 fall and winter exploration drilling and field work programs at its Wellgreen platinum group metal-nickel project in southwestern Yukon Territory. Wellgreen completed 4,078 meters of core drilling and 1,091 meters of reverse circulation drilling. The 25-hole program targeted down-dip extensions and higher grade mineralization at the Far West, West, Central, East and Far East zones to test the down-dip extensions of kn...

  • Breaking gridlock

    Shane Lasley, Mining News|Updated May 1, 2016

    During an era of partisan gridlock on Capitol Hill, U.S. Sen. Lisa Murkowski, R-Alaska, has managed to garner broad support for an energy bill aimed at modernizing the way power is produced in the United States, including numerous provisions important to Alaska. The legislation, which was passed out of the U.S. Senate with an 85-12 vote, also contains provisions to improve access to the U.S. mineral resources supply by streamlining the minerals mine permitting process. "My... Full story

  • Colorado doubles land position in NW BC's Golden Triangle

    Shane Lasley|Updated May 1, 2016

    Colorado Resources Ltd. April 20 reported the acquisition of 32,825 hectares (81,111 acres) of prospective land in the Golden Triangle area of northwestern British Columbia. Known collectively as KingPin, the property consists of 29,425 hectares (72,709 acres) of staked claims and 3,400 hectares (8,401 acres) purchased from a third party. KingPin covers 35 mineral occurrences and favorable geology between the past-producing Granduc Mine and Colorado's KSP property under...