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
The United States Geological Survey Jan. 5 reported publication of a new digital geological map of Alaska that provides visual context to the abundant mineral and energy resources found throughout the state in a beautifully detailed and accessible format. "I am pleased that Alaska now has a statewide digital map detailing surface geologic features of this vast region of the United States that is difficult to access," said Suzette Kimball, newly-confirmed director, USGS. "This...
TNR Gold Corp. Jan. 5 reported significant restructuring of its indebtedness to a private backer who advanced a C$3.5 million loan to the company in 2012. Instead of repayment by the end of 2015, TNR Gold and the lender have agreed to extend the due date of the loan to Dec. 31, 2018. The roughly C$4.3 million currently owed will bear an annual interest rate of 10 percent, with interest payable at maturity. In consideration of the restructuring, the lender also will receive a...
Kaminak Gold Corp. Jan. 6 said a recently finished feasibility study indicates that its Coffee gold project in the Yukon Territory represents a robust, high-margin open pit mining and heap leach project that works in the current gold price environment. As such, Kaminak intends to proceed with mine permitting to support mine construction, which is planned for mid-2018. With C$28 million as of the end of the third quarter, the company says it is well-financed to undertake an...
Imperial Metals Corp. Jan. 6 reported the suspension of pit operations at the Huckleberry copper-gold-silver mine in central British Columbia. Imperial holds 50 percent interest in Huckleberry Mines Ltd., owner and operator of the mine. The balance is held by a Japanese group consisting of Mitsubishi Materials Corp., Dowa Mining Co. Ltd. and Furukawa Co. Huckleberry Mines Ltd. said the suspension of mining will affect 100 of its 260 employees, the balance of the work force...
TerraX Minerals Inc. Jan. 5 reported final results from a fall surface exploration program at its Yellowknife City Gold Project, situated immediately north of the capital of Northwest Territories. This final batch of results included additional high-grade discoveries at the property's core gold area. Visible gold was identified in a newly discovered vein about 200 meters southeast of the Pinto structure. Assays from grab sampling in this area returned 108 grams per metric ton...
There's been an awakening. Have you felt it? "Crowdfunding" is emerging as a revolutionary new force in the way mining and mineral exploration companies will raise the cash needed to discover and develop the next generation of mines. "I am not aware of any mining activity in Alaska that has been financed by crowdfunding, although I suspect that methodology will be utilized in the near future," observed Fairbanks-based geologist Curt Freeman. "Unfortunately, its alter-ego, what...
Osisko Gold Royalties Ltd. Jan. 4 said it has amended its revolving credit facility with National Bank of Canada and Bank of Montreal, thereby increasing the amount of the facility from C$100 million to C$150 million and extending its term to Dec. 23, 2017. The facility is to be used for investments in the mineral industry, including the acquisition of royalties and funding precious metal streams. Osisko CEO Elif Lévesque said, "This increased facility complements our strong...
Nighthawk Gold Corp. Dec. 29 said it has decided to allow to lapse its option to acquire the Kim and Cass properties, which include four mining leases adjacent to its Indin Lake gold property. The company entered into an option to acquire Kim and Cass late in 2013. Nighthawk said it is allowing the option on these satellite properties to expire in order to focus its cash and resources on further exploration of the core of its Indin Lake gold property, located 220 kilometers...
