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Articles from the December 27, 2015 edition

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  • Exceptional Kelvin diamond grades continue

    Shane Lasley|Updated Dec 27, 2015

    Kennady Diamonds Inc. Dec. 17 reported that a 930-kilogram sample recovered by core drilling at the Kelvin North Lobe kimberlite at its Kennady North project in Northwest Territories returned 3.55 carats per metric ton for diamonds of commercial size. The sample was processed by caustic fusion at the Geoanalytical Laboratories Diamond Services of the Saskatchewan Research Council. "Kelvin North Lobe drill samples continue to return outstanding diamond recovery results,"...

  • Commander gets out of Storm, into Aston Bay

    Shane Lasley|Updated Dec 27, 2015

    Commander Resources Ltd. Dec. 17 reported an agreement that will transfer full ownership of the original core claims in the Storm copper property in Nunavut, including the Seal zinc prospect, to Aston Bay Holdings Ltd. To acquire 100 percent of the Storm property, Ashton Bay has agreed to issue 11 million shares to Commander up front and up to another 5.5 million shares once C$6 million has been spent on exploration at Storm, including amounts already spent, or after Aston... Full story

  • IDM raises funds to acquire Red Mountain

    Shane Lasley|Updated Dec 27, 2015

    IDM Mining Ltd. Dec. 17 reported clsoing a C$1 million private placement with Oban Mining Corp. This investment provides IDM with funds to pay Seabridge Gold Inc. a final pre-production option payment to acquire full ownership interest, subject to underlining royalties, in the Red Mountain gold project near Stewart, B. C. "Oban is a dynamic mining company led by a highly respected team with expertise in geology, engineering, operations and the capital markets. Their... Full story

  • Australia-based miner agrees to Stellar JV

    Shane Lasley|Updated Dec 27, 2015

    Millrock Resources Inc. Dec. 18 reported that Vista Minerals (Alaska) Inc., a subsidiary of the private Australia-based Vista Minerals Pty Ltd., has entered into a joint venture agreement on Millrock's Stellar gold-copper property in Southcentral Alaska. Under the terms of the agreement, Vista Minerals can earn an 80 percent joint venture interest by investing US$4 million in exploration at Stellar and paying Millrock US$300,000 in cash. Millrock will retain a 1 percent net sm...

  • Constantine seeks easier, safer Palmer access

    Shane Lasley|Updated Dec 27, 2015

    Constantine Metal Resources Ltd. has submitted a plan of operations with the Bureau of Land Management to build 2.5 miles of road at its Palmer project near the community of Haines in Southeast Alaska. The company said the road is needed to support ongoing exploration, environmental and geotechnical studies, as well as improve worker safety, at the copper- and zinc-rich deposit. The proposed road would provide access to up to 40 new drill sites located east of the current...

  • Subjective outlook

    Curt Freeman, For Mining News|Updated Dec 27, 2015

    As the curtain rings down on 2015, the sound of clapping and cheering can already be heard from the mining industry as it anticipates the end of a largely depressing year which started out looking like the long-awaited industry recovery was going to happen but in the end, did not. The uncertainty brought on by this year's unsettling events was front and center in a recent round-table discussion hosted by Northern Miner, sponsored by PearTree Securities and entitled "New...