The mining newspaper for Alaska and Canada's North

Articles from the August 16, 2015 edition

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  • Northern Dynasty plans to raise C$20M

    Shane Lasley|Updated Aug 16, 2015

    Northern Dynasty Minerals Ltd. Aug. 11 reported plans to raise up to C$20 million by issuing C$10-C$15 million of special warrants exercisable into the company's listed common shares at a price of C39.9 cents per warrant together with acquisition of Cannon Point Resources, an inactive TSX Venture Exchange-listed company whose primary asset is C$4.7 million cash. The special warrants will be privately placed with accredited investors, management and insiders of the company. The...

  • Land swap clears Willow Creek access

    Shane Lasley|Updated Aug 16, 2015

    Miranda Gold Corp. Aug. 12 reported an arrangement that brings together the surface and mineral rights on areas of the Willow Creek gold project that Miranda plans to develop. Before this arrangement between Alaska Hardrock Inc. and the surface owner of areas of the Willow Creek project that is leased to Miranda, Alaska Hardrock had an easement and right to access the mineral rights and before mining commenced at the Coleman Mine, Miranda would have had to negotiate terms to u... Full story

  • Partners expand Hilltop gold footprint

    Shane Lasley|Updated Aug 16, 2015

    Northern Empire Resources Corp. and Sonoro Metals Corp. Aug. 10 said the initial phase of exploration at the Hilltop project has confirmed and expanded the known gold footprint on this property located just north of the paved Richardson Highway about 45 miles east of Fairbanks. Highlights from the program include channel samples returning up to 19.45 grams per metric ton gold and rock grab samples grading as high as 26.55 g/t gold. The program included 61 soil samples to... Full story

  • First Klaza holes show growth potential

    Shane Lasley|Updated Aug 16, 2015

    Rockhaven Resources Ltd. Aug. 12 reported results from the first four holes of the 2015 diamond drill program at its Klaza gold-silver property in southern Yukon Territory. These holes intersected high-grade gold and silver mineralization in the main structure of the Central Klaza zone and within subsidiary vein structures that are developed in the immediate footwall. Mineralization in the footwall structure was not included in the current mineral resource. Highlights... Full story

  • Strategic drilling hits SW Yukon skarn

    Shane Lasley|Updated Aug 16, 2015

    Strategic Metals Ltd. Aug. 5 reported that the first two holes of a drill program that is currently underway at its Hopper property in southwestern Yukon Territory has confirmed that copper-gold skarn horizons extend north of the area of previous drilling. Prior to 2015, all diamond drilling at Hopper was done near a copper-rich skarn zone that outcrops in a creek bed. Most of the historical holes were short and many of them were not analyzed for gold. Recent geochemical...

  • Pretium options three Teuton properties

    Updated Aug 16, 2015

    Teuton Resources Corp. said it has optioned its King Tut, Tuck and Silver Crown West properties to Pretium Resources Inc. for C$1.8 million in cash payable over four years. Teuton will retain a 2 percent net smelter return royalty in the properties with no buyback. The King Tut and Tuck properties adjoin due south of Pretium's Brucejack property, which hosts 15.3 million metric tons of measured and indicated resources averaging 17.6 grams per metric ton (8.7 million ounces) gold in the Valley of the Kings deposit. A single...

  • Prairie Creek drilling cuts high grades

    Shane Lasley|Updated Aug 16, 2015

    Canadian Zinc Corp. Aug. 11 reported additional significant zinc-lead-silver intercepts from the final seven holes of a 5,484-meter underground drill program completed at the Prairie Creek Mine in Northwest Territories. PCU-15-72, the northernmost hole drilled in 2015, returned some of the highest grades and thicknesses of the 2015 program, including a 7.5-meter vein intercept grading 33.7 percent zinc, 17.8 percent lead and 247 grams-per-metric-ton silver; immediately... Full story

  • TerraX finds new zone of high-grade gold

    Shane Lasley|Updated Aug 16, 2015

    TerraX Minerals Inc. Aug. 11 said channel sampling of a new zone of mineralization, the Hebert-Brent showing, at the Yellowknife City Gold Project returned 11 meters averaging 7.55 grams per metric ton gold. This sample comes from a newly mapped deformation zone located 1,000 meters south and on strike with the Barney Zone drilled in 2014, where one hole cut 22.42 meters 6.35 g/t gold. "This high-grade sampling result reported today is illustrative of the prospectivity of the... Full story

  • Weathering low prices

    Shane Lasley, Mining News|Updated Aug 16, 2015

    More gold and silver at lower costs is a common theme for the Greens Creek, Kensington and Fort Knox mines in 2015 and an important component of keeping these operations economically viable for their respective owners - Hecla Mining Co., Coeur Mining Inc. and Kinross Gold Corp. "Cost control is always a priority and ensures that operating mines can succeed even during downtimes in commodities cycles," said Karen Mathias, managing consultant, Council of Alaska Producers. This...

  • Never let a serious crisis go to waste

    J. P. Tangen, Special to Mining News|Updated Aug 16, 2015

    The famous quotation by Rahm Emanuel: "You never let a serious crisis go to waste. And what I mean by that, it's an opportunity to do things you think you could not do before" is entirely fitting for Alaskans, and perhaps the nation, to ponder this week. At last check, the price of sweet crude was in the $44 per barrel range, gold was about $1,108 per ounce and copper was $2.32 per pound, more or less. For Alaska, as dependent as it is on revenue from resource development,...