The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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Underestimated costs in feasibility, inflation push development costs higher; mine remains on pace to pour first gold during Q1 2025. With construction ahead of schedule, B2Gold Corp. says its Back River gold project in Nunavut remains on track to pour its first gold early in 2025. Costs, however, are tracking approximately 30% higher than was estimated, which is expected to push the final price tag for mine development north of C$1 billion (US$750 million). Last April,...
As 2023 raced toward its final weeks, mining explorers working in Canada's northernmost territory wrapped up ambitious campaigns to identify new deposits of various lucrative minerals, ranging from cobalt to copper and gold to uranium. Both mineral production and exploration spending in Nunavut decreased in 2022 compared with the previous year's totals, and another drop is expected for 2023. Natural Resources Canada earlier projected a 28% decrease in planned spending for...
Upon gaining ownership of the Back River gold project in Nunavut through the roughly C$1.1 billion (US$820 million) buyout of Sabina Gold & Silver Corp., B2Gold Corp. established itself as the next largest gold producer in Canada's North. With the acquisition of Sabina, B2Gold has gained a derisked mine project on track to pour its first gold early in 2025, as well as a district-scale land package with enormous potential to support decades of production in Nunavut. "We are...
From neighboring gold explorers merging to create a district-scale project that will likely be attractive to majors, to Glencore making an aggressive bid to buyout Teck Resources Ltd., 2023 was a year of North of 60 mergers, acquisitions, and attempts at takeovers. The multi-billion-dollar M&A frenzy across Alaska and Canada's North was underscored by B2Gold's roughly C$1.1 billion (US$820 million) acquisition of Sabina Gold & Silver Corp. and the Back River Gold Mine project...
Drilling taps high-grade gold within, beyond resource bounds at Goose; exploration holes at George affirm growth potential. B2Gold Corp. Nov. 22 provided an update on an expansive exploration program at its newly acquired Back River gold project in Nunavut focused on high-grade gold zones to support an optimized mine plan Goose, along with drilling to explore potential future mines across the district-scale project that includes five blocks of claims covering an 80-kilometer...
Summer shipping and construction success keep the Goose Mine on track for first gold pour in Q1 2025. With a successful summer construction and shipping season, B2Gold Corp. says its Back River gold project in Nunavut remains on pace to pour its first gold early in 2025. Upon the April completion of its acquisition of Sabina Gold & Silver Corp., which had already made significant progress on early development at Back River, B2Gold immediately invested the resources necessary...
Upon the April completion of its buyout of Sabina Gold & Silver Corp., B2Gold Corp. hit the ground running at its new Back River gold property in Nunavut and remains on pace to pour its first gold there early in 2025. The most advanced project on the district-scale Back River property is Goose, a mine development project that is slated to produce 3.34 million oz of gold over 15 years of mining 18.7 million metric tons of proven and probable reserves averaging 5.97 grams per...
Onyx Gold Corp. July 24 announced the introduction of the company's executive team and exploration plans for its properties within the highly prospective and overlapping Tintina and Tombstone gold belts in Yukon's Selwyn Basin, and within Ontario's portion of the Abitibi greenstone belt, Canada's most prolific gold region. Early this year, HighGold Mining Inc. spun out its (ON)tario (Y)ukon e(X)ploration properties into Onyx Gold and transferred all its outstanding shares...
As it enters into an accelerated period of growth, Blackwolf Copper and Gold Ltd. has made an offer to buy out Northern British Columbia-focused gold and silver exploration company Optimum Ventures Ltd. and is shifting around some management positions to better facilitate the surplus of properties it has accumulated in recent years. Initially exploring its flagship historic Niblack copper-gold-silver-zinc project located on the southern end of Prince of Wales Island in...
B2Gold Corp. April 19 completed a C$1.1 billion (US$820 million) acquisition of Sabina Gold & Silver Corp. and that company's Back River gold project in Nunavut. The district-scale Back River project includes five claim blocks along an 80-kilometer (50 miles) belt in the Kitikmeot region of western Nunavut. The most advanced project at Back River is Goose, a fully permitted, construction-ready mine project that is slated to produce 3.34 million oz of gold over 15 years of...
The Northwest Territories capital city of Yellowknife is emerging as a northern link in North America's electric vehicle supply chain. Already home to Canada's only rare earths mine, a 160-kilometers (100 miles) area around this northern mining town happens to be enriched with the lithium and cobalt that is in massive demand for EV batteries, along with numerous other minerals critical to both Canada and the United States. A roughly 9,600-square-kilometer (3,700 square miles)...
Snowline Gold Corp. March 28 announced the closing of C$19.16 million (US$14.1 million) financing that involved B2Gold Corp. buying a 5% interest in the Yukon-focused gold explorer through the purchase of 3.94 million flow-through shares at C$4.86 per share. "B2Gold is a major global gold producer with a strong track record of growth built on a demonstrated commitment to communities, sustainable mining and employee safety," Snowline Gold CEO Scott Berdahl said earlier this...
Snowline Gold Corp. March 14 announced that B2Gold Corp. is making a strategic investment of just over C$19 million in the Yukon-focused exploration company by purchasing nearly four million Snowline shares. "We are excited to welcome B2Gold as a growth-focused, long-term, value-driven investor," said Snowline Gold CEO Scott Berdahl. "B2Gold is a major global gold producer with a strong track record of growth built on a demonstrated commitment to communities, sustainable...
From competing offers for an exploration company with large and intriguing mineral projects in the Yukon, to the world's largest gold miner making a US$17 billion bid to buyout an Australian mining company with two producing assets in British Columbia's Golden Triangle, February was a big month for mergers and acquisitions in the North of 60 Mining News coverage area. Three M&A proposals were put forward in February that would create a shift in the North of 60 mining sector...
North Arrow Minerals Inc. Feb. 27 announced it has acquired the option to purchase the Bathurst Inlet lithium property in Nunavut, shifting its diamond expertise into the highly demanded battery mineral sector. With the southernmost mineral claim lying roughly 12 kilometers (7.5 miles) from Sabina Gold and Silver's port facility servicing the Back River gold mine project, North Arrow's new lithium property covers a series of mapped and interpreted pegmatite intrusives...
Looking to add a high-quality, development-stage gold mine project in Canada to its portfolio, B2Gold Corp. has made a roughly C$1.1 billion (US$820 million) offer to buy out Sabina Gold & Silver Corp., owner of the Back River gold project in Nunavut. Back River is a district-scale project that includes five claim blocks along an 80-kilometer (50 miles) belt in the Kitikmeot region of western Nunavut. In September, Sabina's board officially approved the development of a...
Board okays 3.3M oz Nunavut mine, first gold pour slated for 2025 It's official, Sabina Gold & Silver Corp. is moving forward with the development of the Goose Mine on the company's Back River gold project in Nunavut, Canada. "This is a milestone decision for the company," said Sabina Gold President and CEO Bruce McLeod. A feasibility study that was updated in 2021 envisions a mine at the Goose deposit that will produce 3.34 million ounces of gold over an initial 15 years of...
Following three generations of exploration spanning four decades, Sabina Gold & Silver Corp. is moving forward with the development of the Goose gold mine on its Back River project in Nunavut, Canada. "This is a milestone decision for the company," Sabina Gold President and CEO Bruce McLeod said in September. A feasibility study that was updated in 2021 envisions a mine at the Goose deposit that will average roughly 223,000 oz per year. Over the entire 15 years of mining...
While a small group of dedicated explorers returned in 2022 to advance production and development projects in Nunavut, a growing number of newcomers fanned out across the northern territory in search of a variety of minerals. Some came seeking gold deposits like those being explored and mined by Agnico Eagle Mines Ltd., while others chased historical occurrences of newly designated critical metals, especially copper and certain base metals, now in high demand for...
Sabina Gold & Silver Corp. March 15 reported the start of a surface drill program focused on testing the interface of the planned open pit and down-plunge extension of the Umwelt deposit at the Goose property on the company's Back River gold mine project in Nunavut, Canada. Umwelt is one of five primary deposits at Goose that host 33.45 million metric tons of measured and indicated resources averaging 5.88 grams per metric ton (6.32 million ounces) gold and 13.79 million...
Sabina Gold & Silver Corp. Feb. 8 announced it has finalized a US$520 million financing package to fund construction and development of the Goose Mine on the company's Back River gold project in Nunavut, Canada. "This is a major milestone for Sabina," said Sabina Gold President and CEO Bruce McLeod. A feasibility study that was updated in 2021 contemplates mining 18.7 million metric tons of ore from the Goose Mine averaging 6 g/t gold. At a recovery rate of 93.4%, this...
Mineral exploration activity in Nunavut intensified in 2021 as mining companies mounted larger and more extensive programs in response to stronger capital markets, government infrastructure initiatives, and the easing of restrictions imposed to curb effects of the ongoing Covid-19 pandemic. Spanning 2 million square kilometers (about 782,000 square miles), the territory has 25 communities and about 39,353 residents, of whom 84% are Inuit. Nunavut has no roads, and all but one...
Sabina Gold & Silver Corp. kicked off 2021 with a significant expansion to the gold resources at its Back River mine project in Nunavut. According to a calculation published in February, Back River hosts 33.45 million metric tons of measured and indicated resources averaging 5.88 grams per metric ton (6.32 million oz) gold; and 13.79 million metric tons of inferred resource averaging 6.44 g/t (2.86 million oz) gold. An updated feasibility study based on this resource details...
Sabina Gold & Silver Corp. Nov. 2 reported that underground development at the Umwelt gold deposit will allow for the first-ever year-round operations at its Back River gold project in Nunavut, Canada. According to a calculation completed earlier this year, Back River hosts 33.45 million metric tons of measured and indicated resources averaging 5.88 grams per metric ton (6.32 million oz) gold; and 13.79 million metric tons of inferred resource averaging 6.44 g/t (2.86 million...
Mineral exploration activity is heating up this summer in Nunavut after a yearlong hiatus sparked by restrictions and cautionary moves driven by the COVID-19 pandemic in early 2020. For the northern Canadian territory's two mine operators and a handful of advanced- and early-stage explorers, the outlook for 2021 programs is much brighter. In mid-June, the Government of Nunavut gave Agnico Eagle Mines Ltd. the green light to allow its workers living in the Kivalliq region of...
