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(98) stories found containing 'Fortune Minerals'


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  • Fortune Minerals Northwest Territories Canada cobalt Nico project DRC map

    Fortune tests five Nico expansion targets

    Shane Lasley, Mining News|Updated Sep 30, 2021

    Fortune Minerals Ltd. Sept. 23 announced the start of a 3,000-meter resource expansion and exploration drill program at its Nico cobalt-copper-bismuth-gold project in Canada's Northwest Territories. Nico hosts 33.1 million metric tons of proven and probable reserves averaging 0.11% (82 million pounds) cobalt, 0.14% (110 million lb) bismuth, 0.04% (27 million lb) copper, and 1.03 grams per metric ton (1.1 million ounces) gold. This unique mix of critical, precious, and base met...

  • Critical Minerals Alliances cobalt DRC First Cobalt Tesla EV electric vehicle

    Solving the critical cobalt conundrum

    Shane Lasley, Data Mine North|Updated Sep 16, 2021

    The envisioned green future where every North American is driving a battery-powered electric vehicle charged with renewable energy could be undermined by cobalt, a somewhat scarce and controversial metal that makes lithium-ion batteries better. "Cobalt is considered the highest material supply chain risk for electric vehicles in the short and medium term," the U.S. Department of Energy penned in an April report. This risk has automakers, lithium-ion battery manufacturers, and... Full story

  • history Canada Northwest Territories Yellowknife City First Nations mining

    The only city in Northwest Territories

    A.J. Roan, Mining News|Updated Apr 29, 2021

    Far to the north lies the second largest of Canada's three territories, simply named the Northwest Territories, and within this vast region of more than 400,000 square miles lies its only city, the capital called Yellowknife. Yellowknife, and most of the region of the Northwest Territories, lies within what is known as the Canadian Shield, a large area of Precambrian igneous and metamorphic rock, meaning it dates to the earliest part of Earth's history. Scoured down to stone... Full story

  • Fortune Minerals Nico project Northwest Territories 2021 drill program map

    Fortune drilling to test for Nico expansions

    Shane Lasley, Mining News|Updated Mar 25, 2021

    Fortune Minerals Ltd. March 17 reported that geophysics carried out last fall has identified five high-priority drill targets for this summer's drill program at the company's Nico gold-cobalt-bismuth-copper deposit in Canada's Northwest Territories. Nico hosts 33.1 million metric tons of proven and probable reserves averaging 0.11% (82 million pounds) cobalt, 0.14% (110 million lb) bismuth, 0.04% (27 million lb) copper and 1.03 grams per metric ton (1.1 million ounces) gold....

  • Tlicho Road Colomac project Nighthawk Gold Indin Lake Northwest Territories map

    Tlicho Road on pace for fall completion

    Shane Lasley, Mining News|Updated Mar 11, 2021

    Nighthawk Gold Corp. March 11 reported that the Tlicho Road connecting the community of Whati, Northwest Territories to Highway 3 remains on pace to be completed this fall. Being constructed along an existing winter route, the Tlicho Road will bring all-season access 97 kilometers (60 miles) closer to Nighthawks Indin Lake gold property, which lies about 160 kilometers (100 miles) northeast of Whati. The construction of this road into mineral-rich areas is being funded...

  • Mining Explorers 2020 Northwest Territories Gold Terra Rio Tinto Dominion

    NWT miners clear 2020 hurdles

    Rose Ragsdale, For Mining News|Updated Jan 28, 2021

    For many mining companies eyeing prospects in Canada's far north, 2020 presented insurmountable challenges. But for the few explorers and producers focused on Northwest Territories, the year proved to be quite productive, even as a global coronavirus pandemic added expensive restrictions to already costly campaigns. Rigorous restrictions imposed by local and federal officials to quell potential outbreaks of the disease at mining camps and prevent its spread to local... Full story

  • Gold Terra Resource Caroline Wawzonek BNT Gold Resources StrategX Elements

    Government offers more mining incentives

    Rose Ragsdale, For Mining News|Updated Jan 18, 2021

    As 2020, arguably the most calamitous year for northern mining in decades, drew to a close, the Government of Northwest Territories took the unusual step of topping up its annual mining incentives program with an additional C$100,000. In August, the territorial government awarded C$1 million in these grants to 19 junior mining companies and prospectors who proposed mineral exploration programs during the 2020-2021 field season. Normally awarded in the spring, the incentives... Full story

  • Mining Explorers 2018 Northwest Territories NWT mining and mineral exploration

    Explorers guard 2018 spending

    Rose Ragsdale, For Mining News|Updated Oct 28, 2020

    Explorers seeking new mineral discoveries in the Northwest Territories are expected to spend less in 2018 than the C$90 million they shelled out collectively last year. Natural Resources Canada projects spending this year for mineral exploration and deposit appraisals in the northern territory will total C$81.3 million. But some observers expect to see an uptick in hardrock mining exploration in 2018, especially in the highly prospective Slave Province where the Northwest... Full story

  • Nico copper cobalt bismuth gold mine project NWT

    Fortune resumes exploration near Nico

    Rose Ragsdale, For Metal Tech News|Updated Oct 1, 2020

    More than six years after turning its attention to advancing to production the world-class mineral reserves of its Nico project in Northwest Territories, Fortune Minerals Ltd. is again putting boots on the ground in search of new mineralization near the Nico deposit located 160 kilometers (99 miles) northwest of Yellowknife. The tenacious junior reported Sept. 2 that an exploration program planned for the 2020 field season is underway, despite restraints imposed by the...

  • Copper gold bismuth cobalt outcrop Peanut Lake Nico NWT

    Fortune seeks eastern extensions of Nico

    Shane Lasley, Mining News|Updated Sep 26, 2020

    Fortune Minerals Ltd. Sept. 3 announced the start of a geophysical program to further delineate expansion drill targets east of the company's Nico gold-cobalt-bismuth-copper deposit in Canada's Northwest Territories. Nico currently hosts 33.1 million metric tons of proven and probable reserves averaging 0.11% (82 million pounds) cobalt, 0.14% (110 million lb) bismuth, 0.04% (27 million lb) copper and 1.03 grams per metric ton (1.1 million ounces) gold. Fortune has evidence...

  • Nico cobalt bismuth copper gold mine project Northwest Territories

    Fortune to investigate Nico gold targets

    Shane Lasley, Mining News|Updated Sep 26, 2020

    Fortune Minerals Ltd. Aug. 10 announced it is gearing up for an exploration program focused on gold targets on its Nico cobalt-gold-bismuth-copper project in Northwest Territories. A 2014 feasibility study for Nico detailed plans for a 4,650-metric-ton-per-day operation that would produce an average of 1,615 metric tons of battery-grade cobalt; 41,300 ounces of gold; 1,750 metric tons of bismuth; and 265 metric tons of copper annually over a 20-year mine life. This feasibility...

  • Nighthawk Colomac exploration camp Indin Lake gold property NWT

    Tlicho Road restart great news for NWT

    Shane Lasley, Mining News|Updated Sep 26, 2020

    Resumption of construction of the Tlicho all-season road is good news for Colomac and Nico, two mineral exploration projects in Canada's Northwest Territories. The Tlicho Road is being constructed along an existing winter route that connects the community of Whati to Highway 3, which is roughly 97 kilometers (60 miles) to the south. Construction of the road got under way last September, but activities were halted due to COVID-19 but ramped back up in mid-May. Nighthawk Gold...

  • Novagold VP Hennessey CEO Lang Chairman Tom Kaplan NYSE Bell

    Gold is Holy Grail of resource investing

    Shane Lasley, Mining News|Updated Sep 26, 2020

    As the largest shareholder and chairman of Novagold Resources Inc., a company that owns 50% of the 39-million-ounce Donlin Gold project in Alaska, it is natural for New York billionaire Thomas Kaplan to elucidate potential investors on his predictions of coming rises in the price for an ounce of gold. The truth, however, is the renowned entrepreneur and natural resources investor is not bullish on gold because he has skin in the game. Instead, he is a major owner of the... Full story

  • Mineralization in road cut at Nico copper gold bismuth copper mine project NWT

    New plan for NWT critical metals project

    Shane Lasley, Mining News|Updated Sep 26, 2020

    Fortune Minerals Ltd. May 7 announced that it continues to make progress on a new mine plan for its Nico cobalt-gold-bismuth-copper project in Northwest Territories during the coronavirus pandemic. The company said it is complying with government COVID-19 protocols, including temporary closure of its head office in Ontario, prohibiting non-essential travel and social distancing. Working from home, Fortune employees, with some assistance from engineering consultants, continue...

  • Pact moves NICO closer to road system

    Updated Sep 26, 2020

    Fortune Minerals Ltd. Nov. 21 announced it has signed an agreement with the Tlicho First Nation for building a road that connects the NICO cobalt-gold-bismuth-copper project to the community of Whati, a Northwest Territories community about 51 kilometers (32 miles) south of Fortune's proposed Nico cobalt-gold-bismuth-copper mine. The 97-kilometer (60 miles) Tlicho Road, which will connect Whati to Highway 3 and Canada's contiguous road and rail infrastructure is being funded...

  • Fortune opts not to enlarge Nico mill

    Updated Sep 26, 2020

    Fortune Minerals Ltd. Oct. 3 reported that current cobalt markets do not support the idea of developing a larger mine at its Nico cobalt-gold-bismuth-copper project in Northwest Territories. A feasibility study published in 2014 considered a 4,650-metric-ton-per-day operation at Nico that would produce an average of 1,615 metric tons of battery-grade cobalt; 41,300 ounces of gold; 1,750 metric tons of bismuth; and 265 metric tons of copper annually. Fortune was studying the...

  • Bering Straits – On the edge of tomorrow

    Shane Lasley, Mining News|Updated Sep 26, 2020

    Home of the famed golden beaches of Nome that have captured the imagination of millions over the past 120 years, the Bering Straits Native Corporation (BSNC) region covers the Seward Peninsula and coastal lands arcing around the eastern and southern coast of the Norton Sound in the far western reaches of Alaska. While this region may be 300 miles beyond North America's highway system, it has served as a crossroads for human activity for at least 15 millennia and will continue... Full story

  • Road work reveals more copper at NICO

    Updated Sep 26, 2020

    Fortune Minerals Ltd. July 18 reported the discovery of a new zone of copper mineralization at its NICO cobalt-gold-bismuth-copper project in Northwest Territories. This new zone, which is about 1,600 meters southeast of the NICO deposit, was identified in bedrock exposed in a pit excavated last spring to provide aggregate for road work. It also sits along the edge of previously identified coincident magnetic, gravity and electrical resistivity geophysical anomalies at Peanut...

  • Fortune finds new option for Nico refinery

    Updated Sep 25, 2020

    Fortune Minerals Ltd. April 23 reported it has entered into an option to purchase an undisclosed alternative site to construct the proposed refinery that would process metal concentrates from the company's planned Nico cobalt-gold-bismuth-copper mine in Northwest Territories. In March, Fortune reported that the Rural Municipality of Corman Park near the town of Langham, Saskatchewan had rejected the company's application for rezoning required to construct and operate the facil...

  • Rezoning for planned Nico refinery denied

    Updated Sep 25, 2020

    Fortune Minerals Ltd. March 26 reported that the Rural Municipality of Corman Park near the town of Langham, Saskatchewan has rejected the company's application for rezoning required to construct and operate a facility to process metal concentrates from the company's planned NICO cobalt-gold-bismuth-copper mine in the Northwest Territories. Fortune acquired 478 acres of Corman Park lands for this refinery after consulting with the Saskatchewan Ministry of Economy and the...

  • Fraser Institute Survey of Mining Companies 2018 Alaska BC Yukon NWT Nunavut

    AK, Canada's North shine in mining survey

    Shane Lasley, Mining News|Updated Sep 25, 2020

    When it comes to attracting mining investment, Alaska, British Columbia and all three Canadian territories rank among the top 20 jurisdictions in the world on the Fraser Institute Survey of Mining Companies 2018. This report asks industry professionals from around the globe to score mining jurisdictions based on their mineral endowment and various policy topics important to mining. "The mining survey-now in its 21st year-is the most comprehensive report card on government... Full story

  • NWT awards contract to build Tlicho Road

    Updated Sep 25, 2020

    Fortune Minerals Ltd. Feb. 14 reported that the Government of the Northwest Territories has signed an agreement with North Star Infrastructure GP to construct the Tlicho All-Season Road. Following an existing winter route, the 97-kilometer (60 miles) Tlicho Road will extend from Highway 3 to Whati, a Northwest Territories community about 50 kilometers (30 miles) south of Fortune's proposed Nico cobalt-gold-bismuth-copper mine. As part of its proposed development, Fortune...

  • Fortune Minerals cobalt bismuth mine project Tlicho area Northwest Territories

    Nico pact addresses mine impacts, benefits

    Updated Sep 25, 2020

    Fortune Minerals Jan. 30 announced that it has entered into a socioeconomic agreement with the Northwest Territories government for the proposed Nico cobalt-gold-bismuth-copper project about 160 kilometers (100 miles) northwest of Yellowknife. Signed at the Association for Mineral Exploration Roundup in Vancouver, British Columbia, the agreement formalizes objectives to maximize northern and indigenous employment, training, business opportunities, and education to benefit resi...

  • Canada Territorial economic outlook, gold mines drive growth Nunavut

    Mines drive growth across Canada's North

    Shane Lasley, Mining News|Updated Sep 25, 2020

    New gold mines are expected to drive strong economic growth in Nunavut and Yukon over the next several years, according to the latest Territorial Outlook published by The Conference Board of Canada. The non-profit think tank focused primarily on researching and analyzing economic trends, however, forecasts a shrinking economy for Northwest Territories as the diamond sector there matures. Despite a tepid recovery for the mining sector as a whole, the new mines being developed...

  • Bumpy ride ahead for NWT mining

    Rose Ragsdale, For Mining Explorers|Updated Aug 14, 2020

    While mining activity remained strong in the Northwest Territories in 2019, industry and government officials alike worried that the robust sector, driven largely by production at three diamond mines, has entered a prolonged downward slide. The near-term economic outlook for the territory, which covers 1.3 million square kilometers in Canada's central Arctic region, continues to be bleak as its diamond mines that have now passed peak production and replacement projects are in... Full story

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