The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 1 - 25 of 67
Hopes to maintain share price to invest in Quebec copper project. Osisko Metals Inc. Feb. 22 announced the sale of an additional 5% interest in the Pine Point zinc mine project in Northwest Territories to its joint venture partner Appian Capital Advisory LLP, hoping the funds will enable the company to advance its Gaspé Copper project in Quebec without further diluting its stock. "The sale of the additional five percent interest in Pine Point to Appian will allow the company...
Osisko Metals Inc. Jan. 16 announced the remaining results from its 2023 drill program at its Pine Point zinc-lead project under its Pine Point Limited joint venture in Northwest Territories-results the company expects to incorporate into a new mineral resource estimate sometime in the first quarter. Early last year, London-based Appian Capital Advisory LLP agreed to invest as much as C$100 million (US$74 million) to earn up to a 60% JV interest in the newly formed Pine Point...
With a summer marred by unprecedented wildfires behind them, companies exploring the mineral-rich Northwest Territories are reporting impressive results from their 2023 programs. Seeking new deposits of valuable minerals, ranging from ever-popular diamonds and precious metals to recently designated "critical minerals," such as lithium, rare earth elements and zinc, a score of explorers took to the field across the territory. "An exciting new chapter is emerging for mining in t...
Reorganizing under a new joint venture with a London-based private equity group, Osisko Metals Inc. now has the funds to advance the historic Pine Point zinc-lead mine project in Northwest Territories to "shovel-ready" status. Located just south of the Great Slave Lake, Pine Point is home to a former mine operated by Teck Resources Ltd. that produced roughly 14 billion pounds of zinc and 4 billion lb of lead from around 64 million metric tons of ore during a 24-year span...
Osisko Metals Inc. Nov. 13 announced the latest drilling results from the recently established Pine Point Mining Limited joint venture project in Northwest Territories, Canada. Located just south of the Great Slave Lake, Pine Point is home to a former mine operated by Teck Resources Ltd. that produced roughly 14 billion pounds of zinc and 4 billion lb of lead from around 64 million metric tons of ore during a 24-year span beginning in 1964. According to the most recent...
Osisko Metals Inc. Feb. 22 announced a C$100 million (US$74 million) investment agreement with Appian Capital Advisory LLP, a London-based private equity group that specializes in acquiring and developing mining assets, under which the parties are to form a joint venture for the advancement of the Pine Point zinc-lead project in Northwest Territories, Canada. Located just south of the Great Slave Lake, Pine Point was home to a former mine operated by Cominco (now Teck...
Osisko Metals Inc. Oct. 12 announced the next set of assays from its ongoing 2023 drill program at the Pine Point zinc-lead project in Northwest Territories, Canada – including results from one hole that cut 13 meters averaging 11.11% zinc, and 1.44% lead. Located just south of the Great Slave Lake, Pine Point is home to a former mine operated by Teck Resources Ltd. that produced roughly 14 billion pounds of zinc and 4 billion lb of lead from around 64 million metric tons o...
Like many other northern regions, Canada's North was settled because of its mineral resources. When the Canadian Dominion Government first purchased its arctic regions from the British Crown in the late 1800s, the Northwest Territories was seen as a vast stretch of cold, inhospitable land and was thus largely ignored at the time. However, due to the Klondike Gold Rush, the future of these northern lands would change forever. These days, a new rush has arisen, a white gold...
Osisko Metals Inc. Sept. 28 announced the next batch of assays from the 2023 drilling program at its Pine Point zinc-lead project in Northwest Territories, Canada, aimed at advancing it toward an updated resource estimate before the year is out. According to the most recent calculation, Pine Point hosts 15.8 million metric tons of indicated resource averaging 4.17% zinc and 1.53% lead, plus 47.2 million metric tons of inferred resource averaging 4.43% zinc and 1.68% lead....
Osisko Metals Inc. Sept. 5 announced initial assays from its 2023 definition drilling at the Pine Point project in Northwest Territories, Canada, as part of the joint venture with Appian Capital, which intends to upgrade resources from the inferred to the indicated category in preparation for a feasibility study. Located just south of the Great Slave Lake, Pine Point is home to a former mine operated by Cominco (now Teck Resources) that produced roughly 14 billion pounds of...
North Arrow Minerals Inc. May 18 announced that it has raised roughly C$2.7 million to fund exploration of its lithium projects in northern Canada, which will primarily be focused on the company's newly acquired DeStaffany lithium project in Northwest Territories. The company raised the cash through a C$2.4 million private placement financing and the sale of 0.5% royalty interests in its Loki diamond project in Northwest Territories' Lac de Gras region for C$374,000. With the...
Osisko Metals Inc. has finalized a joint-venture agreement with one of the world's leading mining and metals investment advisors that could propel its Pine Point project in Northwest Territories into becoming one of the top-10 zinc-lead producing mines in the world. Inked in late February, the estimated C$100 million deal with Appian Capital Advisory LLP, a unit of Appian Natural Resources Fund III LP, won speedy approval from Osisko Metals' shareholders in mid-March....
While the journey west during the frontier days often paints a picture of strife and hardship, not every tale was filled with sorrow and loss. Although covered wagons were definitely a thing, the journey toward greener pastures became much less arduous as steamboats and stagecoaches followed routes mapped by the earliest pioneers. However, it was the coming of the railroad that increased the speed of the trek, and its effectiveness in travel persists even today. For much of...
With dewatering plans, an updated preliminary economic assessment, and updated mineral resource estimate out of the way, Osisko Metals Inc. has been exploring ways to maximize the potential of this world-class zinc-lead project that could easily rank it within the top ten zinc mines on the planet. Located just south of the Great Slave Lake, Pine Point was home to a former mine operated by Cominco (now Teck Resources) that produced roughly 14 billion pounds of zinc and 4...
Mining activity in Northwest Territories held steady in 2022 despite constraints imposed by the ongoing COVID-19 pandemic as a cadre of mainly junior mining companies took up the international challenge to seek out large deposits of critical minerals. Early in the year, government officials noted that industry interest in diamonds, gold, and especially critical minerals boded well for the NWT economy in the coming year. "An exciting new chapter is emerging for mining in the...
Osisko Metals Inc. Nov. 22 announced further drill results from the 2022 definition drilling at its Pine Point zinc-lead project in Northwest Territories, moving one step closer toward a feasibility study for this world-class deposit. According to the most recent mineral resource estimate, Pine Point hosts 15.8 million metric tons of indicated resource averaging 4.17% zinc, and 1.53% lead, a 25% increase in declared tonnage from the 2020 MRE; and 47.2 million metric tons of...
Osisko Metals Inc. Nov. 9 announced the results of its 2022 definition drilling program at its Pine Point project in Canada's Northwest Territories, a program that aims to upgrade its resource to the indicated category for an upcoming feasibility study. After filing a preliminary economic assessment this year, which included the higher commodity prices and reduced dewatering costs, all intercepts reported fall within, or adjacent to, the currently modeled open pit shells...
Osisko Metals Inc. Oct. 27 said the latest results from drilling at Mount Copper continues to increase the area of known copper mineralization at this project on Quebec's Gaspé Peninsula. Aside from advancing its flagship Pine Point zinc project in Northwest Territories, in July, Osisko exercised the option to acquire the Gaspé Copper Mine from Glencore Canada Corporation. Located near Murdochville, Québec, Glencore provided a binding term sheet for Osisko to acquire a 10...
"Grade is king" is an adage that guides mineral exploration and mining. The premise behind this basic axiom of the mining business is the less ore that needs to be mined and processed per ounce of precious metals, pound of base metals, kilogram of critical minerals, or carat of gemstones produced, the more profitable an operation will be. The kingliest of orebodies would be of such high grade that a mining company would simply need to dig up the ore, crush it, and then ship it...
Osisko Metals Inc. July 13 announced the results of an updated preliminary economic assessment for the company's Pine Point zinc project in Northwest Territories, Canada. The objective of this updated PEA was to integrate updated long-term prices for zinc and lead, increased mined resources, cost escalations in capital and operating expenses, as well as reduced life-of-mine water management costs that resulted from the recently completely hydrogeological model. The latter...
Osisko Metals Inc. March 21 announced the latest results from the late 2021 definition drill program at its Pine Point project in Northwest Territories, Canada. After taking over Pine Point in 2018, Osisko completed a 2020 preliminary economic assessment that outlined a mine that could yield an average of 327 million pounds of zinc and 143 million lb of lead annually over an initial 10-year mine life. Presently, Osisko is nearing completion of an updated PEA that will include...
Osisko Metals Inc. Jan. 25 announced the newest results from the ongoing in-fill drill program at its Pine Point project in Northwest Territories, Canada. Located just south of the Great Slave Lake, Pine Point is home to a former mine operated by Cominco – now called Teck Resources – that produced roughly 14 billion pounds of zinc and 4 billion lb of lead from around 64 million metric tons of ore during a roughly 24-year span beginning in 1964. Osisko, which picked up the pro...
Mineral exploration activity in Northwest Territories showed signs of revival in 2021, coming on the heels of the slowest year in recent memory. Excited by renewed interest in gold deposits in and around the capital city of Yellowknife and other hot spots after the pandemic-related restrictions of 2020, juniors joined longtime explorers Nighthawk Gold Corp. and Gold Terra Resource Corp. (formerly TerraX Minerals) in hunting for the yellow metal across the 1.14...
Advancing the historic Pine Point project, Osisko Metals Inc. spent 2021 proving that the zinc-lead project had more to give, on a zinc-only basis, enough to give that could rank it within the top ten in the world. Formerly mined under Cominco (now Teck Resources), Pine Point – roughly 26 miles (42 kilometers) east of Hay River, Northwest Territories – produced roughly 14 billion pounds of zinc and 4 billion lb of lead from around 64 million metric tons of ore averaging abo...
Osisko Metals Inc. Nov. 24 reported the latest results from the current in-fill drill program at its Pine Point project in Northwest Territories, Canada, including an intersect that cut six meters grading 20.06% zinc, and 0.72% lead. Located just south of the Great Slave Lake, Pine Point is home to a former mine operated by Cominco (now Teck Resources) that produced roughly 14 billion pounds of zinc and 4 billion lb of lead from around 64 million metric tons of ore during a...
