The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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The COVID-19 pandemic has led NANA Corp. and its mining partners, Teck Resources Ltd. and Ambler Metals LLC, to adjust their mineral exploration and mine development plans in order to meet the ever-evolving health and safety mandates to keep shareholders, employees and residents of Northwest Alaska as safe as possible. "Although the pandemic was unexpected, learning to adapt is nothing new for the region and Iñupiaq people. For 40 years, NANA shareholders have supported...
Rockhaven Resources Ltd. July 13 released the results of a preliminary economic assessment for a mine at its Klaza project in southern Yukon that could economically produce roughly 750,000 ounces gold and 13.8 million oz silver over a 12-year mine life. Based on US$1,450/oz gold, US$17/oz silver, and a C$1 to US72 cent exchange rate, the Klaza mine outlined in the PEA would generate a post-tax net present value (at a 5% discount) of C$378 million and a 37% internal rate of...
Seabridge Gold Inc. March 30 announced an agreement to acquire full ownership of Golden Predator Mining Corp.'s 3 Aces gold project in the Yukon. Lying alongside the Nahanni Range Road, 3 Aces is an easily accessible project that covers 357 square kilometers (138 square miles) of high-grade gold discoveries and targets in southeastern Yukon. The target concept for 3 Aces is consistent with some of the largest and richest gold districts in the world, including the California...
The executive summary of the Preliminary Final Environmental Impact Statement (PFEIS) for the Pebble copper-gold mine project in Southwest Alaska was leaked to select media outlets earlier this week, providing an early look at this draft document not yet ready for public release. U.S. Army Corps of Engineers (USACE), the federal agency charged with leading the EIS process for Pebble, last week sent the PFEIS to federal, state and tribal cooperating agencies for review. E&E New...
Pembridge Resources plc Jan. 28 announced that trucks are now delivering copper concentrates from its Minto Mine in the Yukon to the Skagway Ore Terminal in Southeast Alaska. Access to the Minto mine requires crossing the Yukon river at Minto Landing, which is between the communities of Carmacks and Pelly Crossing. During summer months, a barge is used to transport concentrates and supplies across the Yukon. During the winter, an ice bridge provides access over the river....
After being stalled for decades, hardrock gold mine development in Yukon Territory appears to be picking up speed, as one company rockets toward full mine production by mid-2020, while at least two others report exciting new discoveries. The Yukon, legendary for producing millions of ounces of gold dating back nearly 125 years, is still one of the best places on Earth to find the precious metal. Yet few modern gold projects have managed to overcome the constraints imposed by...
North of 60 Mining News is proud to introduce 20 questions for 2020. Over the course of this series, Mining News will interview mining and political leaders from Alaska, British Columbia, Northwest Territories, Nunavut and Yukon. Each interview will include 20 questions on mining, markets and doing business across Alaska and Canada's North. For the inaugural 20 questions for 2020, Mining News talks with Contango ORE Inc. CEO Rick Van Nieuwenhuyse, a longtime mining executive...
In November 1996, a little over 23 years ago, I began writing quarterly mining news summaries for the Society of Economic Geologists (SEG). Shortly after that, I began writing monthly summaries for this publication's ancestor, Mining News Alaska, and have continued both monthly, quarterly and annual mining news summaries ever since. With this summary, I have written my last Alaska update for North of 60 Mining News. When I wrote my first summary, Greens Creek was milling only...
With more than half of Alaska's entire population living within its region, Cook Inlet Region Inc., more commonly known as CIRI, is the most metropolitan of the 12 landholding Alaska Native regional corporations. While CIRI has leveraged its urban position with retail developments such as Tikahtnu Commons, an enormous retail and entertainment center on the outskirts of Anchorage, the Southcentral Alaska regional corporation also has oil and gas, renewable energy and mining...
With two Australian companies making major investments and several exploration companies from Down Under chomping at the bit to get into the field, 2020 is shaping up to be the best year for Alaska's mining sector in a decade. When you add up the investments South32 Ltd. plans to make in the Ambler Mining District and other exploration projects; Northern Star Resources Ltd.'s spending at the Pogo gold mine; and the exploration dollars at least five other Aussie companies are...
Rockhaven Resources Ltd. Dec. 12 reported that initial assay results from its 2019 drill program at Klaza show the potential to add high-grade gold and silver to the resource already outlined at this road accessible project in southern Yukon. Located on placer gold mining roads about 50 kilometers (31 miles) west of Carmacks, Klaza is an advance staged exploration project that hosts 4.5 million metric tons of indicated resource averaging 4.8 grams per metric ton (686,000...
As the year winds down, mineral industry evaluations for 2019 are being published at a rapid rate. One of the most interesting such global reviews is EY Global Mining and Metals' annual "risk radar" for mining and metals, outlining what mining companies perceive as the top ten risks facing them in the near future. This publication stated that, for the second straight year, "social license to operate" remains the number one risk facing mining companies in 2020. This was...
Trilogy Metals Inc. Nov. 7 reported copper- and zinc-rich volcanogenic massive sulfide intersections in all six holes drilled at the Sunshine prospect on its Upper Kobuk Mineral Projects (UKMP) in Northwest Alaska. UKMP is a roughly 353,000-square-acre land package that covers most of the Ambler Mining District. This massive land package covers two world-class deposits – Arctic and Bornite –and numerous other prospects and targets across a roughly 60-mile-long stretch of the...
An abnormally long fall has allowed the Alaska mining industry to extend seasonal work well into mid-October, creating a lot of new information about project work conducted around the state. Exploration efforts, in particular, benefitted from this additional field time. Based on information available to date, 2019 exploration expenditures are expected to be in the $135-140 million range, well ahead of the $120-125 million exploration spending tracked for 2018. In addition,...
PolarX Ltd. Oct. 21 reported that the encouraging porphyry copper mineralization encountered in the first hole at the Mars target on its Alaska Range property increased in intensity to the bottom of the hole. On Oct. 1, the Australia-based company announced that its Mars discovery hole, 19MAR001, cut roughly 300 meters of porphyry-style mineralization starting at a depth of about 5.3 meters. Today, the company said this visible copper and molybdenum mineralization increased...
PolarX Ltd. Oct. 1 announced that drilling has tapped encouraging porphyry copper mineralization at the Stellar project, part of the Australia-based explorer's Alaska Range property. This Stellar copper, however, was not encountered at Saturn, the primary target of porphyry exploration at Alaska Range. Instead, this mineralization was identified in core from the first hole drilled at Mars, another porphyry target at the opposite end of a 7.5-mile- (12 kilometers) long...
If you have watched the metals markets over the last month, you know why Alaska's mineral industry has surged, stalled, swerved, swooped, slowed, shelved and stuttered, sometimes all at the same time! Gold has gone above US$1,500 per ounce; copper pundits are predicting an increasingly dour future; zinc markets are looking to dive below $1.00 per pound; tin markets have marched strongly upward due to supply disruptions; and silver bulls are calling for annual worldwide...
Crystal Lake Mining Corp. Sept. 18 announced results from a hole that cut shallow high-grade gold mineralization at the NW Zone on the company's Newmont Lake property in British Columbia's Golden Triangle. Situated about 30 kilometers (19 miles) northwest of Skeena Resources' Eskay Creek project and about the same distance southeast of Teck Resources and Newmont Goldcorp's Galore Creek project, Newmont Lake is in an area known for copper and gold deposits. NW Zone, which is...
As the rest of the country suffers through the Dog Days of summer, Alaska is approaching the end of a topsy-turvy summer season that saw unseasonably hot, dry weather in some parts of the state during some parts of the summer, while other parts of the state have seen record rainfall and unseasonably early snowfall. Gold prices have skyrocketed over the $1,500 per ounce mark and silver prices have moved strongly up, now trading at a one-year high. However, copper and zinc are a...
United States Bureau of Land Management Aug. 30 published the Draft Environmental Impact Statement for the proposed Ambler Mining District Industrial Access Road to the Federal Register, marking the official start of a 45-day public comment period for this proposed 211-mile transportation corridor to one of the richest undeveloped minerals districts in Alaska. Alaska Industrial Development and Export Authority, which is expected to build and maintain the Ambler road and be...
Twenty years ago, Canada created the territory of Nunavut, carving out the easternmost part of the Northwest Territories to form the country's northernmost jurisdiction. A vast land of lakes and tundra sprawled across the North from the Hudson Bay to the Arctic Ocean and east to Baffin Bay and the coastal waters of Greenland, Nunavut is home to only about 38,000 people, of whom 85 percent are indigenous Inuit who have lived in this frozen land for millennia. Since 1999,...
Though mineral exploration in Yukon Territory this year lagged the pace seen in 2018, mine development projects advanced at a steady clip in 2019, while several past-producing mines moved toward resuming output. Yukon ranked fourth in Canada for projected spending on mineral exploration and deposit evaluation for 2018, according to statistics distributed by Natural Resources Canada. Spending for mineral exploration and deposit evaluations totaled C$249.4 million, made up of C$...
The two mega-mergers that hit the gold mining sector early in 2019 – Barrick Gold Corp. combining with Randgold Resources Ltd. and Newmont Mining Corp. acquiring Goldcorp Inc. – is forever changing the gold mining landscape around the world. While the two largest gold mining companies Newmont Goldcorp (No. 1) and Barrick (No. 2) are still in the process of shedding assets following the mega-mergers, it seems that Newmont Goldcorp will emerge with a much stronger foothold in...
Australia-based PolarX Ltd. and its copper- and gold-rich Alaska Range property has drawn the interest of Canada-based Lundin Mining Corp. In a deal finalized in June, Lundin invested roughly US$3 million to acquire a 12.85 percent interest in PolarX. This investment provides the Toronto-based miner an option to earn a 51 percent interest in Stellar, a porphyry copper-gold portion of the larger Alaska Range property, by investing US$24 million in exploration and making US$20 m...
Primarily focused on gold, copper and silver, Millrock Resources Inc. is a project generating mineral exploration company that has built a large portfolio of highly prospective mineral exploration properties in Alaska, British Columbia and Mexico. Many of the projects the company has generated have been sold recently to other companies in exchange for cash and shares of the company acquiring and exploring the project. For 2019, Millrock focused largely on amassing a large...
