The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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The owners of Alaska’s five large metal mines – Sumitomo Metal Mining Pogo, Hecla Mining Company, Kinross Gold Corp, Teck Resources Ltd. and Coeur Mining Inc. – accounted for nearly half the US$92 million of exploration spending in the state during 2014 and similar investments by these companies is providing solid footing for the Far North state’s mineral exploration sector this year. Avalon Development President Curt Freeman said he is seeing more mining majors shopping for d...
Northern British Columbia accounts for two-thirds of the province's landmass and plays an important role in our provincial economy. In 2014, an estimated $338 million was spent on mining exploration projects across B. C.; nearly half of which took place in northern B. C. Proposed mine developments in northern B. C. have the potential to create billions of dollars in capital investment as well as thousands of family-sustaining jobs throughout B. C., adding to the more than 30,000 people currently employed in mining, mineral...
The State of Alaska and its mining industry continue to benefit from a world-class natural resource base while being buffeted by significant challenges, mostly related to downward market trends for minerals and energy. The wide array of complex resource development issues and decisions facing Alaska resource managers, policy makers and the private sector is unabated - in fact it has grown - and the Alaska Department of Natural Resources is determined to address them as best we can despite adverse fiscal conditions. Some good...
Over the past month, three of Alaska's large mines reported strong quarterly results; two projects in advanced permitting and pre-feasibility reported recent progress; and three exploration properties changed hands. The latter is a trend putting 2015 on course to be one of the most active years for new acquisitions in the past decade. Placer gold production has all but ceased for the year; however, output from Alaska's placer mines is not likely to be known with any certainty...
Teck Resources Ltd. Oct. 22 reported a third-quarter loss attributable to shareholders of C$2.1 billion (C$3.73 per share) due to non-cash after-tax impairment charges of C$2.2 billion. The impairment charges are non-cash revaluations of assets to reflect lower market expectations of commodity prices. The prices of all of Teck's major commodities - steelmaking coal, copper and zinc - continued to fall during the third quarter. To meet the challenge of low prices, the company...
Northern Empire Resources Corp. and Sonoro Metals Corp. Oct. 22 reported that the second phase of 2015 exploration has expanded the area of gold mineralization at the Hilltop project located in Interior Alaska about 45 miles (70 kilometers) southeast of Fairbanks. "The phase 2 exploration program has expanded the known gold footprint at the Hilltop South and Hilltop North areas, highlighted new prospective target areas, demonstrated a clear association between gold values and...
Miranda Gold Corp. Oct. 22 reported that it has reached an agreement to purchase a 3.3 percent royalty on the Willow Creek project held by Daniel Renshaw. Miranda holds the Willow Creek project under lease from Alaska Hardrock Inc. The Renshaw royalty has been separated into the area that covers the patented mining claims on the west side of the project (A Royalty) and the area that covers the patented mining claims on the east side of the project (B Royalty). The A Royalty...
TerraX Minerals Inc. Oct. 26 reported results from additional channel sampling of replacement-style mineralization in the Hebert-Brent Shear area of its Yellowknife City gold project, Northwest Territories. In August, TerraX reported 11 meters of 7.55 grams-per-metric-ton gold from channel sampling at the Hebert-Brent Zone; followed by six meters of 10.26 g/t gold at the Hebert-Brent South zone and 17.86 meters of 2.21 g/t gold (previously reported as 15.3 meters of 2.23 g/t...
Skeena Resources Ltd. Oct. 26 reported assay results for nine holes of its 61-hole drill program at the Spectrum gold project in the Golden Triangle of northwestern British Columbia. Hole S15-049, drilled towards the south end of the Central Zone, cut four intervals with greater than 5.0 g/t gold between 197 and 232 meters. The best intercept of hole 49 was 14 meters grading 7.82 g/t gold. Hole S15-048, drilled above S15-049 on the same section, was abandoned due to drilling...
ATAC Resources Ltd. Oct. 26 announced the completion of a 2015 work program focused on completing optimization work recommended in a 2014 preliminary economic assessment for the Tiger deposit, an oxide gold deposit located within the Rau trend of at the western end of its Rackla gold project, Yukon Territory. The PEA envisions a seasonal open-pit mine that would produce 221,558 ounces of gold from 2.06 million metric tons of oxide material at an average diluted grade of 3.72...
Klondike Gold Corp. Oct. 26 reported results from the remaining 15 holes of a 19-hole program at the Lone Star gold property near Dawson City, Yukon Territory. This work includes the discovery of gold-bearing quartz near Gay Gulch along Eldorado Creek. Hole EC15-10 encountered a 2.8-meter zone at Gay Gulch that coarse gold up to 2.5 centimeters. After removing all the coarse visible gold clots from the assay sample, the remaining split interval returned 420 grams per metric...
Northquest Ltd. Oct. 26 published the first batch of results from the 2015 drill program at the Pistol Bay gold project in Nunavut. This year's drilling focused on expanding the Vickers Target, a zone where previous drilling has cut broad intercepts with good gold grades, including 156.5 meters averaging 8.23 g/t gold in hole PB-12-22; 158 meters of 3.46 g/t gold in hole PB-13-03; and 222 meters of 1.65 g/t gold in hole PB-14-08. The best intersections of the seven 2015 holes...
From an expanding ownership interest in one of the largest producing zinc mines on the planet to grassroots gold exploration, NANA Regional Corp. is delving into all phases of mining across the 24.3 million acres of extremely minerals-rich land in Northwest Alaska. During the past 26 years, this Alaska Native regional corporation and the more than 13,800 Iñupiat shareholders whose forebears settled the northwest corner of Alaska thousands of years ago have enjoyed some...
Nighthawk Gold Corp. Oct. 26 provided results from a recently completed eight-hole drill program at its Indin Lake gold property in the Northwest Territories. Five of the holes were drilled within Zone 1.5 to expand the recently discovered high-grade gold mineralization defined by hole C14-06, which cut 52.5 meters of 7.78 g/t gold. Holes C15-04 and 04B, collared 25 meters south of C14-06, cut 77.75 meters of 2.63 g/t gold. Hole C15-06, drilled 25 meters north of C14-06, cut...
African Queen Mines Ltd. Oct. 22 said the British Columbia Ministry of Energy and Mines has issued it a permit that approves a mine plan and reclamation program for the Yellowjacket gold mine near Atlin in northern B.C. African Queen acquired the property from Athabasca Nuclear Corp., formerly Yellowjacket Resources Ltd., earlier this year. The property encompasses hardrock as well as placer gold prospects, and has been the subject of various historical mining operations that...
The "National Strategic and Critical Minerals Production Act of 2015," legislation aimed at streamlining the lengthy process of permitting a mine in the United States, passed the U. S. House of Representative Oct. 22. National Mining Association President and CEO Hal Quinn said this bill, introduced by U. S. Rep. Mark Amodei, R-Nevada, "will bring the U.S. mine permitting system into the 21st century and help boost the country's economy and manufacturing renaissance." By...
Republican presidential candidate Jeb Bush has proposed a plan to decentralize federal power over decisions of how best to manage the vast stretches of federal lands in America's West. "Washington, D.C. needs to acknowledge that people who live on the land in the West are the best stewards of the land. Federal holdings should be valuable recreational and economic assets, not a liability to economic freedom and growth," the former Florida governor wrote in an Oct. 21 post on...
Many of Alaska and northern Canada's mining explorers have demonstrated incredible resilience during a five-year bear market that has been especially deep and painful, even for seasoned mining sector veterans. "This has been a particularly treacherous bear market," longtime natural resource investor, Rick Rule, noted during a July appearance on Palisade Radio. "The reason that this has been a particularly treacherous bear market is that the last bull market was particularly...
When NovaCopper Inc. needed additional funds to advance its copper-rich deposits in the Ambler Mining District of Northwest Alaska, the Vancouver B.C.-based junior bypassed typical financing vehicles for such ventures and seized the opportunity to buy Sunward Resources Ltd., a fellow exploration company with roughly US$20 million in the bank but a market cap hovering around US$13 million. "The market had basically discounted the cash they had in the bank, so that provided an...
AXR:TSX / AXU:NYSE-MKT President and CEO: Clynton Nauman Executive VP and COO: Brad Thrall Vice President, Exploration: Alan McOnie Alexco Resource Corp. owns the Bellekeno silver-zinc-lead mine, as well as a number of other mineral properties within historic Keno Hill Silver District of central Yukon Territory. Bellekeno began commercial production at the beginning of 2011, but was temporarily suspended late in 2013 due to lower silver prices. Based on roughly 18,000 meters of drilling completed in 2014, Alexco published an...
Mineral and coal exploration spending in British Columbia has dropped nearly 30 percent a year since reaching a pinnacle of C$680 million in 2012, mirroring the downward trend seen during the same period in global exploration expenditures. Mineral-rich B. C., however, is preparing to take advantage of the next upswing in metals markets. In June, British Columbia Energy and Mines Minister Bill Bennett said the province will provide Geoscience BC with C$5 million in additional...
ATC: TSX-V President & CEO: Graham Downs VP, exploration: Julia Lane Chief Operating Officer: Ian Talbot In 2015 ATAC Resources Ltd. continued to expand the Carlin-type gold discoveries made at its Rackla Gold project in Yukon Territory with a C$3 million phase-1 exploration program that began in June. This work primarily focused on the Conrad Zone and 18-sqaure-kilometer Anubis cluster within the Nadaleen Trend, a 30-kilometer- (20 miles) long subset of the company's east-west extending land package that blankets an area...
Aug:TSX.V / ggtcf:OTCQX Executive Chairman: Ivan Bebek President and CEO: Shawn Wallace After buying out North Country Gold Corp., Auryn Resources Inc. added the Committee Bay gold project, making it a major player in Nunavut gold exploration. Auryn's interest in the Committee Bay project first came to light in February when the company agreed to join North Country in a joint venture on the expansive gold property. This JV agreement, which was finalized in March, included Auryn buying 10 million North Country shares at C5...
Skeena Resources Ltd. entered 2015 with a mission - outline at least 2.0 million ounces of high-grade gold at its Spectrum property located in the Golden Triangle region of northwestern British Columbia. Skeena Chairman Ron Netolitzky is no stranger to this metals-rich corner of B.C. In fact, he is a 2015 Canadian Mining Hall of Fame inductee, an honor that is largely due to his finding two world-class mines - Eskay Creek and Snip - in the Golden Triangle. The legendary prospe...
czx:TSX.V chairman, President and CEO: Peeyush Varshney vp, exploration: Ken MacDonald director: John Thomas Canada Zinc Metals Corp. is focused on exploring a band of zinc-lead-silver properties that blankets 79,870 hectares (197,359 acres) of the Kechika SEDEX belt in northeastern British Columbia. The company has divided this land package into two projects - Akie, which hosts the Cardiac Creek deposit, and the Kechika regional properties, a series of property blocks that extend roughly 140 kilometers (85 miles) northwest...
