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 34
Company now expects to pour first gold in Q2 2025; is recalculating total development costs for mine. With mining falling slightly behind schedule, B2Gold Corp. now expects to pour the first gold at the Goose mine on its Back River project in Nunavut sometime during the second quarter of 2025, slightly behind the first quarter start originally anticipated. The company, however, also reports that its winter ice road project to deliver equipment, fuel, and supplies was a...
Meliadine and Amaruq produce 223,500 oz gold; company encouraged by Hope Bay drill results. For Agnico Eagle Mines Ltd., the remote but highly mineralized territory of Nunavut offers high rewards, as long as the high risks that come with building and operating mines in Canada's remote North are managed. Given the nearly 900,000-ounce-of-gold-per-year pace of production at its Meliadine and Amaruq mines so far this year, coupled with new gold discoveries that bode well for its...
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 Nunavut officials hail the Canadian government's recent decision to grant devolution to the country's newest territory, one junior explorer is planning to undertake a summer exploration program this year that highlights the extraordinary mineral prospectivity of the Far North jurisdiction. Toronto-based New Break Resources Ltd. recently reported encouraging assays from rock chip and grab samples recovered by an exploration team during a September visit to its Sundog gold...
American West Metals Ltd.'s 63-hole resource definition and exploration drill program at Storm Copper in 2023 has culminated in an inaugural resource estimate containing 452 million pounds of copper and 1.9 million oz of silver at this high-grade project on Nunavut's Somerset Island. Since optioning the project from Aston Bay Holdings Ltd. in 2021, American West has been systematically expanding the near-surface high-grade copper zones identified within a roughly...
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...
Economists at the government of Nunavut are predicting major economic growth in Canada's northernmost territory next year, partly due to increased production and steady commodity prices in its mining sector. Nunavut Premier P.J. Akeeagok told an audience at the Nunavut Trade Show Sept. 19 that the Nunavut economy is expected to grow by 13.6% in 2024, up from around 7% this year. "I'm happy to report Nunavut's economy is expected to expand strongly this year, at a rate of 7%...
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...
Early this summer, Blue Star Gold Corp. launched an exploration program, hoping to identify favorable prospects and advance targets on its landholdings in western Nunavut to drill-ready status for a 2024 discovery program at its Ulu Gold Project. The company's Ulu, Hood River, and Roma properties cover more than 45 kilometers (28 miles) of the High Lake Greenstone Belt. By the first week in August, Blue Star had scoped out several promising areas for drilling next year on the...
Six months after the Canadian government rejected a plan to double approved output from the Mary River iron mine on Nunavut's Baffin Island, the mine's operator, Baffinland Iron Mines Corp., is working to get the green light to move ahead with a different proposal. The new plan, which the company calls a "Sustaining Operations Proposal," surfaced in December, about a month after federal Northern Affairs Minister Daniel Vandal rejected the earlier plan Nov. 16 to expand...
While lithium deposits are sparking fresh interest in Canada's northernmost territory, uranium is also spurring exploration companies to venture north this year to search for mineral riches in Nunavut. After a prolonged slump dating back to the recession in 2008, uranium prices are beginning to rebound as nuclear-generated power gains global acceptance as a viable source of affordable green energy. At least two companies, ValOre Metals Corp., and Forum Energy Metals Corp., are...
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...
In response to an increasing number of precious metals investors wanting to know that the bullion they are buying is responsibly sourced, the Royal Canadian Mint has introduced its first gold bullion coin completely sourced from a single operation – Agnico Eagle Mines Ltd.'s Meliadine mine in Nunavut. "Agnico Eagle is proud to be a partner of choice as a trusted source of responsibly produced gold for the Royal Canadian Mint's first-ever single-source mined gold bullion c...
Adds $30 million to 2022 budgets at Nunavut gold mines, projects Agnico Eagle Mines Ltd., now firmly established as a gold producer in Nunavut, is adding another US$30 million to an already generous 2022 exploration budget for two of its three operations in the Far North Canadian territory. Agnico views Nunavut as a politically attractive and stable jurisdiction with enormous geological potential. The company reported gold production exceeding 774,000 ounces from its two...
Aston Bay Holdings Ltd. shares rocketed 33% on Monday on the news of visual confirmation of strong copper mineralization encountered in the first two holes American West Metals Ltd. drilled this year at Aston's high-grade Storm Copper Project on Somerset Island, Nunavut. Australia-based American West, which optioned Storm and the neighboring Seal Zinc project from Aston Bay early last year, recently launched its first drill program at Storm. The primary objective of this drill...
American West Metals Ltd., a junior led by two mining industry veterans from Australia, has returned to the Arctic this year for a second field season in pursuit of rich deposits at the Storm Copper project on Somerset Island in northeastern Nunavut. Storm hosts a 120-kilometer (75 miles) mineralized trend within an extensive 4,145-square-kilometer (1,600 square miles) land package that covers multiple copper and zinc geochemical anomalies along strike. In March 2021,...
With diamond prices climbing while global production is expected to remain flat through 2027, the outlook for diamond explorer North Arrow Minerals Inc. is shining bright. The company Feb. 22 reported progress at its projects across Canada, including work undertaken in 2021 at its advanced diamond project in Nunavut. North Arrow said processing of a 2,000-metric ton bulk sample extracted in 2021 from its Naujaat diamond project located on the Melville Peninsula is about...
With the rise of the Omicron variant and the 13 presumptive COVID-19 cases at its Meliadine and Hope Bay gold mines in Nunavut, Agnico Eagle Mines Ltd. is sending its Nunavummiut (Nunavut residents) workforce home with pay for at least three weeks. In March of 2020, at the onset of the coronavirus pandemic, Agnico made a similar decision to send its Nunavummiut workers home for at least four weeks. "We value our relationship with the people of Nunavut and are committed to do...
In a move welcomed by investors, ValOre Metals Corp. plans to return to Nunavut to resume exploring its Angilak uranium project in 2022. A district-scale property covering a 59,483-hectare (146,982 acres) expanse in south-central Nunavut, Angilak hosts drill-confirmed uranium mineralization along 40 kilometers (25 miles), including the prospective 3,000- by 1,500-meter Lac 50 Trend and multiple un-drilled targets property-wide. ValOre says the Lac 50 Trend deposits comprise...
Looking to strengthen the gold mine platform it is building in Nunavut, Agnico Eagle Mines Ltd. is investing roughly US$33 million into exploring its three main assets in the Canadian territory – Meliadine mine, Meadowbank Complex, and the recently acquired Hope Bay mine. This robust investment in Nunavut is part of US$163 million of exploration the company has budgeted for all of its assets, which is substantially higher than the US$113 million invested in exploration d...
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...
As Nunavut regulators wrapped up a contentious final series of hearings in April on a proposed expansion of the Mary River iron ore mine on Baffin Island, the Canadian territory got hit with a new outbreak of COVID-19, this time in Iqaluit, Nunavut's capital. Baffinland Iron Mines Ltd. has operated Mary River, one of the largest and northernmost iron mines in the world, for six years. The company employs more than 1,200 people, primarily at its Mary River Mine Site and Milne...
Nunavut is one jurisdiction in Canada with a favorable economic outlook in the face of the COVID-19 pandemic, according to a recent economic analysis completed by the Conference Board of Canada. The reason: Nunavut's mining sector, which remained mostly intact in 2020, accounted for more than one-third of its economy, a higher share than in every other Canadian province or territory. Projected to have expanded 6.1% last year, Nunavut's economy is forecast to grow 13.2% in...
In what could be the best outcome of Ottawa blocking Shandong Gold Mining's bid to acquire TMAC Resources Inc., Agnico Eagle Mines Ltd. has agreed to buy out its fellow Nunavut gold miner for C$286.6 million. TMAC Resources, which got off to a rocky start of operations at its Hope Bay gold mine in Nunavut, has been looking for a company with the financial wherewithal and mining expertise to make the northern Canada operation a success. Under an agreement reached in May,...
In a move that prevents a Chinese state-owned company from grabbing a foothold along the Northwest Passage in Canada's Arctic, officials in Ottawa have blocked Shandong Gold Mining Co. Ltd.'s bid to acquire TMAC Resources Inc., which owns and operates the Hope Bay gold mine in the Kitikmeot region of northwestern Nunavut. While stopping Shandong Gold Mining from acquiring the Nunavut operation quashed what many Canadians considered to be a threat to national security, it also...
