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
Brazil Resources Inc. Feb. 29 said it has increased a previously announced C$2 million private placement financing to C$3.7 million, or 8,222,222 common shares at C45 cents per share. The company has already closed an initial C$3.4-million initial tranche of this financing, issuing 7,540,050 shares at C45 cents per share. Brazil Resources intends to use the net proceeds from the financing to advance its existing property portfolio, acquire new projects and for general working...
Banyan Gold Corp. March 2 reported plans to complete a C$750,000 brokered private placement financing via a crowdfunding platform recently launched by Red Cloud Klondike Strike Inc. "We are very excited to be the first company to offer our securities on the inaugural online mining investment platform created by Red Cloud Klondike Strike," said Banyan President and CEO Mark Haywood. "The platform offers a revolutionary financing mechanism, which will provide a unique...
Rockhaven Resources Ltd. March 1 released results of a preliminary economic assessment for its Klaza gold property in southern Yukon Territory. The PEA envisions using a combination of open pit and underground techniques to mine the 9.4 million metric tons of inferred resources averaging 4.48 grams per metric ton gold, 89.02 g/t silver, 0.95 percent zinc and 0.75 percent lead at Klaza. The material would be processed through a 1,500-metric-ton-per-day flotation-pressure...
11 Resources Corp. March 1 said it has entered into an agreement to acquire the Hidden Lake lithium property in the Northwest Territories. Located roughly 40 kilometers (25 miles) northeast of Yellowknife, the Hidden Lake property consists of about 1,100 hectares (2,720 acres) of mineral claims prospective for spodumene-bearing lithium pegmatites. The lithium potential of pegmatites within the Yellowknife area was first recognized in the mid-1950s, when a number of the region'...
Pretium Resources Inc. March 1 announced the closing of a marketed offering of 28,384,000 common shares at a price of US$4.58 per share for gross proceeds of US$129,998,720, which includes the exercise of the full amount of an over-allotment option of 2,174,000 common shares. The net proceeds of the offering will be used to fund development of the Brucejack gold project in northwestern British Columbia, working capital during start-up pf the mine and for general corporate...
Colorado Resources Ltd. Feb. 29 said it plans to carry out a 5,000-meter drill program at the KSP property in northwestern British Columbia. The company said this work will target high-grade gold zones the company has identified at the Inel zone. The company said its surface geological work and review of historical drill logs indicate that there are at least three north-trending, more than 1,000-meter-long, gently dipping, stacked target zones within a 1.5-square-kilometer...
Group Ten Metals Inc. Feb. 29 reported completion of an exploration and staking program on its Spy mineral property in southwestern Yukon Territory. Situated in the Kluane Ultramafic Belt, a sequence of igneous and sedimentary rocks extending from northern British Columbia through the Yukon into southern Alaska, the Spy property is prospective for copper and nickel sulfide mineralization as well as platinum group metals. Based on the results of the exploration program, the...
British Columbia Minister of Energy and Mines Bill Bennett Feb. 25 introduced amendments to the Mines Act aimed at strengthening the provincial government's regulatory oversight of the mining industry and giving the ministry additional compliance and enforcement tools. The proposed changes would enable government to include administrative monetary penalties as an additional compliance and enforcement tool under the province's mines act. Currently, compliance and enforcement to...
Alaska and the Yukon Territory continue to be perceived as among the best places in the world to seek and develop a mine, according to 449 mining executives who responded to the Fraser Institute's Survey of Mining Companies 2015. This group of miners, explorers and consultants ranked these northern neighbors as two of the richest mineral jurisdictions on Earth, but found certain mining policies in each a cause for concern. As a result, the mining leaders ranked Alaska sixth...
Established in 1891, Hecla Mining Company has survived two World Wars, the Great Depression and numerous crests and troughs of a cyclical metals market that has sunk many of the silver miner's contemporaries over the past 125 years. Over this century-plus span, Hecla has grown adept at navigating tumultuous markets in a way that enables the company to be well-positioned for smooth sailing in calm waters. "We have been in business longer than iconic American companies such as...
