The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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Trilogy Metals Inc. Feb. 27 reported another batch of high-grade assays from infill drilling the world-class Arctic copper-zinc-lead-gold-silver deposit in the Ambler Mining District of Northwest Alaska. "The latest infill and geotechnical holes continue to demonstrate very high grades of polymetallic metals over impressive widths in the shallowest parts of the deposit," said Trilogy Metals President and CEO Tony Giardini. The high-grade volcanogenic massive sulfide deposit at...
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...
Seeking a balance between their traditional lifestyle and economic opportunities that allow their villages and the people that live there to thrive, the tribal councils of Allakaket and Huslia have unanimously voted to withdraw from a lawsuit against a federal decision to issue permits for a road to the Ambler Mining District in Northwest Alaska. "Our council and community have considered both the concerns and potential benefits from the responsible development of our lands,"...
Millrock Resources Inc. March 1 announced that it is shifting its focus to exploration of Nikolai, an Alaska project prospective for a large deposit of critical energy metals such as nickel, copper, cobalt, and platinum group elements. As part of this shift in focus, the company plans to change its name to Alaska Energy Metals Corp. and complete a 10-to-one share consolidation. "Despite strong execution of the project generator model over the past few years, Millrock's share...
Millrock Resources Inc. Feb. 24 announced that Resolution Minerals Ltd. has now earned a 51% interest in 64 North and continued exploration of this gold project in Alaska's Goodpaster Mining District will be carried out under a joint venture between the two companies. 64North is a district-scale land package assembled by Millrock that consists of nine claim blocks – West Pogo, Shaw, Eagle, LMS-X, South Pogo, East Pogo, North Pogo, Last Chance and Divide – covering roughly 160...
Western Alaska Minerals Corp. Feb. 28 reported that updated interpretations of geological, geochemical, and geophysical surveys have identified multiple targets for an up to 17,000-meter 2023 drill program around the high-grade Waterpump Creek silver deposit on the company's Illinois Creek property about 300 miles west of Fairbanks, Alaska. "Our rapidly growing data sets have defined some very exciting targets for our upcoming program," said Western Alaska Minerals President...
More gold, strong zinc prices helped push value higher; critical minerals could add a boost moving forward. Alaska mines produced approximately $4.51 billion worth of nonfuel minerals last year, a 16% increase over the $3.89 billion in 2021, and an impressive 42.7% jump over the $3.16 billion of mined products during 2020, according to the U.S. Geological Survey's Mineral Commodity Summaries 2023 report. The rise in Alaska mine production value is largely due to increased...
Freegold Ventures Ltd. Feb. 23 reported an enormous upgrade to the quality and quantity of the mineral resources at Golden Summit, a now world-class gold project on the northern border of Kinross Gold Corp.'s Fort Knox Mine property in Alaska. Over the previous three years, Freegold has carried out more than 83,000 meters of systematic resource expansion and upgrade drilling at Golden Summit. With the bulk of the assays from the 2022 season in hand, the company had a new...
Cassiar Gold Corp. March 3 reported significant gold intercepts from its 2022 drilling at Taurus East and Wings Canyon, potential Taurus deposit resource expansion areas on the company's Cassiar project in Northern British Columbia. Lying about 55 miles (90 kilometers) southwest of Watson Lake, Yukon, the 145,800-acre (59,000 hectares) Cassiar gold property is divided into two areas – Cassiar North, which hosts the bulk tonnage Taurus gold deposit, and Cassiar South, which h...
Strong zinc price, production drive increased profit for Teck; NANA gets extra boost from royalty rise. Due to a combination of strong zinc prices and production, the Red Dog Mine in Northwest Alaska generated strong profits for Teck Resources Ltd. and revenues for NANA Corp. during 2022. Red Dog produced 553,100 metric tons (1.22 billion pounds) of zinc during 2022, a nearly 10% increase over the 503,400 metric tons (1.11 billion lb) produced during 2021. The Northwest Alaska...
Trilogy Metals Inc. Feb. 14 reports that while rising costs and challenging supply chains have weighed on the economics of building and operating a mine at Arctic, an updated feasibility study shows that an open-pit copper-zinc-lead-silver-gold mine at this Northwest Alaska project continues to produce healthy financial returns. Arctic is a high-grade volcanogenic massive sulfide deposit that is part of the district-scale Upper Kobuk Mineral Projects being advanced by Ambler...
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...
Kinross Alaska gold output rises; restoration of fish habitat near Hope supports company ESG strategy. Continuing a steady rise in annual gold output, Kinross Gold Corp.'s Fort Knox Mine produced 291,248 ounces of gold in 2022, a roughly 10% increase over the 264,283 oz recovered at the Interior Alaska operation during 2021. This upward trajectory reflects the early stages of the Kinross Alaska strategy, which is expected to see the annual gold output of the mill at Fort Knox...
With 50M oz from Keno Hill, Hecla's silver reserves top 240M oz in 2023. With the addition of the Keno Hill Mine in the Yukon, Hecla Mining Company now has more than 240 million ounces of silver in reserves, the highest in the company's 131-year history. "Hecla's silver reserves are an all-time high," said Hecla Mining CEO Phillips Baker, Jr. For more than a decade, it has become customary for Hecla's exploration team to find enough new ore at its operations to more than repla...
Nighthawk Gold Corp. Feb. 9 released an updated resource estimate that will support a preliminary economic assessment for its Colomac gold project and includes initial resources for several satellite deposits across the 359-square-mile (930 square kilometers) Indin Lake property in Northwest Territories. Nighthawk is considering a mining operation at the more than 3-million-ounce gold resource at Colomac, which is expected to serve as a hub for processing higher-grade gold...
British Columbia's Golden Triangle is poised for a mining boom that raises the bar when it comes to achieving the higher environmental, social, and guidance expectations for companies that produce the gold, silver, copper, and other metals the world needs and wants. While this mineral district in BC's northwest corner is famed for its rich stores of copper, gold, and silver – and to a lesser degree, nickel, cobalt, platinum group metals, and other critical minerals – the ESG...
Proposed merger could have major implications for several mining projects in BC's Golden Triangle. Over the weekend, Newcrest Mining Ltd. and Newmont Corp. confirmed rumors of a proposed merger that has major implications for the future of mining in British Columbia's Golden Triangle. "We believe a combination of Newmont and Newcrest presents a powerful value proposition to our respective shareholders, workforce and the communities in which we operate," said Newmont President...
Li-FT Power Ltd. Feb. 21 announced that it has optioned two large land packages covering potential extensions of the lithium occurrences on its properties in the Yellowknife Pegmatite Province, Northwest Territories. In January, Li-FT announced the acquisition of the Yellowknife lithium project, which covers at least 14 pegmatites – igneous rocks with exceptionally large crystals that are the major source of hardrock lithium worldwide – on mineral leases that are 30 kil...
Core Assets Corp. Feb. 23 reported high-grade copper-zinc-silver mineralization in rock samples collected from the Kim target – a high-grade occurrence about 22 kilometers (14 miles) north of the Silver Lime porphyry-carbonate replacement deposit project on the company's Blue property in northern British Columbia. Located along BC's border with Alaska in the Atlin Mining District, Blue is a roughly 281,500-acre (113,900 hectares) land package covering high-grade skarn and c...
Graphite One Inc. Feb. 7 reported assay results from a 2,150-meter 2022 drill program aimed at upgrading and expanding the Graphite Creek resource, including one hole that cut strong graphite mineralization 1.3 miles (2.1 kilometers) west of the nearest hole at this western Alaska project. Considered by the U.S. Geological Survey to be the largest known graphite deposit in the U.S., Graphite Creek hosts 32.5 million metric tons of measured and indicated resources averaging 5.2...
Contango ORE Inc. Feb. 6 reported that development of the Manh Choh gold mine in Alaska remains on track to begin commercial production in the second half of next year and an updated and expanded resource for the high-grade Lucky Shot gold project is slated for completion in March. "We look forward to continuing to update shareholders and investors on our progress in developing Alaska's next gold mines," said Contango ORE President and CEO Rick Van Nieuwenhuyse. The first...
Benchmark Metals Inc. Feb. 10 reported that it will focus its 2023 programs at Lawyers on work to advance the gold-silver mine project in Northern British Columbia to feasibility and permitting. This includes artificial intelligence-supported resource modeling to delineate and explore the underground expansion potential of the deposits at Lawyers. "Benchmark has significant potential to leverage already drilled mineralization below the open pits to add high-grade gold and...
Dolly Varden Silver Corp. Jan. 6 reported the highest-grade silver ever drilled on the Dolly Varden target at the end of its Kitsault Valley project in Northern British Columbia. Kitsault Valley, which lies about 40 kilometers (25 miles) southeast of Stewart, BC, is an amalgamation of Dolly Varden's namesake project and the adjacent Homestake Ridge gold-silver project the company acquired from Fury Gold Mines Ltd. in 2022. Four deposits associated with past producing mines at...
Dolly Varden Silver Corp. Jan. 30 reported another round of exceptional assays from the 2022 drill program at the Homestake gold-silver deposits at the north end of the company's Kitsault Valley project in Northern British Columbia. Located about 40 kilometers (25 miles) southeast of Stewart, BC, the 63-square-mile (163 square kilometers) Kitsault Valley project is an amalgamation of Dolly Varden's namesake project and the adjacent Homestake Ridge gold-silver project the...
Blackwolf Copper and Gold Ltd. Jan 31 announced that it reached an agreement with Dolly Varden Silver Corp. and New Moly LLC to study the viability of building a mill on New Moly's Kitsault project that could process ore from the three companies' projects in Northern British Columbia and Southeast Alaska. "We are optimistic about the potential synergies of working with the companies in a scenario to reduce respective capital costs as well as reduce permitting timelines and ris...
