The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 1 - 8 of 8
According to preliminary data released by the U.S. Department of Labor’s Mine Safety and Health Administration, 25 miners died in work-related accidents in the United States during 2016. This is the lowest fatality rate for American miners ever recorded, besting the record of 29 set in 2015. With around 330,000 American miners working in the U.S. last year, this comes to roughly 0.8 deaths per 100,000 workers, which is much lower than the 3.4 deaths across all occupations duri...
Golden Predator Mining Corp. Jan. 3 said it has entered into an agreement to acquire Bearing Resources Ltd.'s interest in mineral claims in the Upper Hyland River area of Southeastern Yukon. The claims included in the agreement are HY-Jay, a property immediately northwest of Golden Predator's 3 Aces gold project; VF, immediately southeast of 3 Aces; and VM, which consist of two claim blocks situated further northwest. To acquire the claims, Golden Predator has agreed to pay Bearing C$275,000 over four years. In addition,...
International Tower Hill Mines Ltd. Dec. 28 closed a US$22 million financing that involved the issuance of 45.83 million shares at US48 cents each. As a result of the financing, Paulson & Co. Inc., Tocqueville Asset Management, L.P. and AngloGold Ashanti (U.S.A.) Exploration Inc. own 34.2 percent, 19.7 percent and 9.5 percent of International Tower Hill Mines shares, respectively. Tower Hill intends to use the net proceeds from the financing to make a roughly US$14.7 million final payment due in January on certain claims...
Alexco Resource Corp. Jan. 3 reported a major expansion of the Bermingham deposit at its Keno Hill Silver District in the Yukon. Bermingham now hosts 868,000 metric tons of indicated resource averaging 628 grams per metric tons silver. The 17.3 million ounces of contained silver is more than a 300 percent expansion from 5.2 million oz in the previous estimate. Additionally, Bermingham's inferred resource has swelled from 700,000 to 5.5 million oz. of contained silver. As a result of the Bermingham expansion, the district-wide...
Colorado Resources Ltd. Dec. 29 reported the closing of a C$950,000 financing that involved the issuance of 3.8 million flow-through units at C25 cents each. Each unit consists of one flow-through common share and a warrant that entitles the holder to purchase one non-flow-through Colorado share for C40 cents until Dec. 29, 2017. Under Canada's Income Tax Act, a flow-through financing allows mineral exploration companies to transfer their exploration expenses to individual investors that purchase the shares. Most exploration...
While the mineral exploration season in Interior Alaska typically runs from the time the ground dries in the spring, usually mid-May, until snow and cold weather make logistics too cumbersome and expensive in October, an increasing number of explorers are carrying out successful winter programs in this especially frigid region of the Far North State. Without a doubt, mounting a successful exploration program in temperatures cold enough to make metal brittle and with only...
Sabina Gold & Silver Corp. Dec. 29 said a federal decision on its Back River gold project in Nunavut has been postponed to sometime in 2017. Late in 2015, Sabina submitted an environmental impact statement for a 3,000-metric-ton-per-day mine focused on Goose, one of the properties that comprise the larger Back River project, to the Nunavut Impact Review Board. In June, NIRB recommended that the Minister of Indigenous and Northern Affairs Canada not advance Back River to the...
Imperial Metals Corp., owner of the Red Chris and Mount Polley copper-gold mines in British Columbia, Dec. 30 closed a C$65 million private placement financing. The financing involved the issuance of 11,818,182 shares at C$5.50 each. N. Murray Edwards and The Fairholme Partnership, already a significant shareholder of Imperial Metals, purchased C$30 million and C$13.1 million of the financing, respectively. Imperial Metals intends to use the proceeds of the Financing to...
