The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 51 - 67 of 67
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...
Osisko Metals Inc. Aug. 23 reported results from 18 holes completed in the Central Zone of its Pine Point zinc project in Northwest Territories. Highlights from this batch of results include 6.75 meters of 14.67 percent zinc and 1.94 percent lead in hole M6263-18-PP-014; and 15 meters of 6.34 percent zinc and 1.27 percent lead in M6263-18-PP-013. "The Central Zone drilling continues to confirm the extensive, near surface mineralization that potentially could be mined by open p...
Osisko Metals Inc. July 24 announced plans to step up the pace of its already aggressive drill program at the Pine Point zinc project in Northwest Territories. "It's our intention to keep moving this project forward aggressively in order to capitalize on the current favorable zinc market fundamentals," said Osisko Metals President and CEO Jeff Hussey. Located about 42 kilometers (26 miles) east of Hay River, Pine Point is the site of a historical mine operated by Cominco (now...
Northwest Territories may fall behind Canada's two other territories in mining activity in the near-future, but projects underway in the northern jurisdiction hold substantial promise for mid- to long-term gains, especially if many current roadblocks come down. "Optimism is warranted for the territory's mining sector and the broader economy it drives," said Wally Schumann, minister of industry, tourism and investment for the Government of Northwest Territories. But...
Osisko Metals Inc. June 19 reported results from the remaining holes drilled during the winter drill program at Pine Point and announced the start of a 570-hole summer program at this zinc-lead deposit in Northwest Territories. The historic Pine Point Mine involved a series of 50 surface and underground deposits along a 60-kilometer (37 miles) trend. In all, Cominco discovered roughly 90 such deposits on the property. The roughly 700-hole drill program slated for this year is...
Osisko Metals Inc. May 29 reported additional high-grade zinc and lead results from its 2018 winter drill program along the East Mill Zone trend of its Pine Point project in Northwest Territories. The 11 holes reported were drilled in the area of K-35, one of several deposits mined by Cominco Ltd. from 1964 to 1987. The historic Pine Point Mine involved a series of 50 surface and underground deposits along a 60-kilometer (37 miles) trend. In all, Cominco discovered roughly 90...
Osisko Metals Inc. May 15 said drilling has encountered zinc mineralization between the L-35 and L-36 deposit areas on its Pine Point project in Northwest Territories. Discovered by prospectors during the Klondike Gold Rush, Pine Point is the site of a mine near the community of Hay River that Cominco Ltd. operated from 1964 to 1987. Costing $133 million to develop, a mega-project for its time, the Historic Pine Point Mine included a railroad, hydro-electric dam and a town...
Osisko Metals Inc. May 8 said its winter drilling continues to confirm historical zinc mineralization at its newly acquired Pine Point zinc-lead project in Northwest Territories. Located near the community of Hay River, the Pine Point project benefits from substantial infrastructure that includes road access, rail head in Hay River and hydro-electric power available on site. A preliminary economic assessment completed in 2015 examined several development scenarios and settled...
Victoria Gold Corp. April 16 announced that it received an initial C$174 million of a C$505 million financing package the company put together for the development of the Eagle Gold Mine project on its Dublin Gulch property in the Yukon. This financing package involves two credit facilities totaling US$175 million (roughly C$220 million); a private placement of Victoria common shares to two separate subscribers for a total of C$125 million; a C$98 million royalty financing;...
Osisko Metals Inc. Dec. 18 announced a friendly agreement to acquire full ownership of Pine Point Mining Ltd., a deal that will give Osisko Metals full ownership of the Pine Point zinc-lead project in Northwest Territories. "The addition of the Pine Point project to our exploration and development portfolio is exactly in keeping with our strategy of consolidating world class base metal mining districts," said Osisko Metals President and CEO Jeff Hussey. Located near the...
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...
Strongbow Exploration Inc. March 7 said it has reached an agreement to purchase Teck Resources Ltd. royalty interest in the Mactung and Cantung tungsten projects located along the border between Yukon and Northwest Territories. Under the terms of the agreement, Strongbow will pay Teck C$1.5 million on closing of the acquisition, and make a further C$1.5 million payment when either there has been a decision to develop Mactung or commercial production resumes at Cantung. "We...
Mineral exploration spending in Northwest Territories dipped sharply in 2015. While the final numbers are not in, Natural Resources Canada predicts exploration and deposit appraisal expenditures in the territory to be around C$43.6 million, or less than half the roughly C$95.8 million invested last year. Industry and government leaders in the territory, however, have come together "to develop a robust mineral industry in the NWT." In January, the government announced the...
Over the past month Alaska's mining industry has suffered a perfect storm of manmade and natural issues that read like something from a pulp fiction novel. On the man-made side of the ledger, gold, silver, copper, and lead prices have all hit 5-year lows and zinc prices continue to slide lower. Mining equity markets are still in severe decline, making it extremely challenging for junior exploration companies to raise the risk capital necessary to explore their Alaska...
Primarily associated with cans, cups and roofs, tin is not the flashiest metal on the market. Despite its lowly ranking, even among base metals, this lackluster commodity fetches around US$8.00 per pound - substantially more than copper, zinc, lead, or even nickel - and Alaska has plenty of it. Strongbow Exploration Inc., a company primarily focused on exploring for nickel in Northwest Territories, is working on a deal that would allow it to acquire two Alaska tin properties...
From expanding reserves at its proposed Meliadine gold mine to early-stage exploration at an enticing gold discovery a few miles up the road from its Meadowbank Mine, 2014 is emerging as a year marked with exciting growth for Agnico Eagle Mines Ltd. In addition to growth through the bit of a drill, Agnico expanded its reserves and production profile through acquisitions. In June, the producer and Yamana Gold Inc. finalized the purchase of Osisko Mining Corp. Agnico and Yamana...
More than 30,000 people attended the Prospectors and Developers Association of Canada Convention held in Toronto March 4 - 7, breaking last year's attendance record of 27,714 participants from 120 countries. The annual convention, currently in its 80th year, attracts investors, analysts, mining executives, geologists, prospectors and international government delegations from all over the world and represents a tremendous networking and educational opportunity for the industry. The gathering's Trade Show and Investors...
