The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 1 - 10 of 10
TMAC Resources Inc. Jan. 11 said it anticipates producing between 130,000 and 140,000 ounces of gold during the first year of production at its Hope Bay Mine in the Kitikmeot region of Nunavut. The company said commissioning of the processing plant is progressing smoothly and the first saleable gold is expected in early February. Commercial production for the initial 1,000-metric-ton-per-day recovery plant is slated to be reached by the end of the first quarter. "Ore is starting to move through the processing plant, tailings...
Fortune Minerals Ltd. Jan. 12 reported federal funding for the construction of an all-season road to Whati, a Northwest Territories community about 50 kilometers (30 miles) south of Fortune's Nico cobalt-gold-bismuth-copper project. Following an existing winter route, the Tlicho Road will span 97 kilometers (60 miles) between Whati and Highway 3. The federal government will provide up to 25 percent of the costs to build this road. "Replacing the existing winter road to Whatì will reduce challenges associated with impacts of...
With C$2.5 million in the bank and roughly two dozen mineral exploration projects it has generated in Alaska, British Columbia, New Mexico and Mexico, Millrock Resources Inc. is prepared for a stellar 2017 as metals prices rise and a bullish sentiment returns to mining markets. "While we will not under-estimate the work ahead, we continue to carry forward into 2017 with a spirit of optimism," Millrock President and CEO Greg Beischer said. "The cycle seems to have changed, and...
Sabina Gold & Silver Corp. Jan. 13 said the Minister of Indigenous and Northern Affairs Canada, has determined that the Back River gold project should be returned to the Nunavut Impact Review Board for further consideration. 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 NIRB. In June, the review board recommended that INAC Minister Carolyn Bennett not advance Back River to the next...
North Arrow Minerals Inc. Jan. 17 said it has agreed to acquire Stornoway Diamond Corp.'s interests in Qilalugaq and Pikoo, which will give North Arrow full ownership of both northern Canada diamond projects. Under terms of the agreement, North Arrow will acquire Stornoway's roughly 18 percent interest in the Qilalugaq project in Nunavut and 15 percent interest in the Pikoo project in Saskatchewan in exchange for 2 million North Arrow common shares. Stornoway will retain 0.5 percent and 1 percent gross overriding royalties...
Imperial Metals Corp. Jan. 18 reported that its share of 2016 production from three British Columbia mines totaled 119.17 million pounds copper, 94,930 ounces gold and 330,960 oz. silver, up from the 88.13 million lb copper, 44,710 oz gold and 224,530 oz of silver produced in 2015. The 2016 totals include the first full year of operations at the Red Chris mine in northern B.C.; copper and gold produced at the re-opened Mount Polley Mine in the central part of the province; and Imperial's 50 percent share from eight months...
Atac Resources Ltd. Jan. 17 announced plans for a C$10 million exploration program at its Rackla gold project, an extensive land package that stretches roughly 185 kilometers (114 miles) east-west across central Yukon Territory. This fully-funded program will include roughly 15,000 meters of drilling focused on expanding high-grade gold mineralization at the Nadaleen and Rau trends. At Rau, a 20-kilometer-long (12.5 miles) trend towards the western end of the Rackla project, Atac plans to complete core drilling to test the...
Northern Dynasty Minerals Ltd. Jan. 11 announced plans to raise US$25 million, a financing that quickly swelled to US$32.56 million due to the immediate demand for the shares being offered. The original bought deal offering - made through a syndicate of underwriters co-led by Cantor Fitzgerald Canada Corp., TD Securities Inc. and BMO Capital Markets - involved 13.52 million Northern Dynasty shares at US$1.85 each. As a result of strong demand, Northern Dynasty said it had increased the offering to 17 million shares on Jan....
Gov. Bill Walker Jan. 17 announced that Alaska has joined 12 other states in bringing a legal challenge to the U.S. Department of the Interior's Stream Protection Rule, which would place rigid restrictions on coal mines in the United States. In a complaint filed in U.S. District Court in Washington D.C., the 13 states allege that the rule exceeds the Office of Surface Mining Reclamation and Enforcement-s statutory authority, infringes on states' constitutional sovereignty, and is otherwise arbitrary and capricious. "Despite...
Goldrich Mining Co. Jan. 18 reported that the Chandalar placer gold mine in northern Alaska produced 10,209 ounces of alluvial gold, or roughly 8,200 ounces of refined gold, during the 2016 mining season. This is roughly a 117 percent increase over the 4,400 oz produced at the mine in 2015. Processing of pay gravel at this operation about 200 miles north of Fairbanks continued into late-September and preparations for the 2017 mining season were completed in mid-October. Production costs through the end of September were...
