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
Nighthawk Gold Corp. March 3 announced the start of a 25,000-meter drill program at its Indin Lake gold project in the Northwest Territories. Roughly 125 miles north of Yellowknife, Indin Lake hosts a number of deposits, including the historical Colomac open-pit mine, which produced 527,908 ounces of gold during the 1990s. In 2013, Nighthawk reported an inferred mineral resource of 39.8 million metric tons averaging 1.64 grams per metric ton (2.1 million oz) gold. Roughly 2 million ounces of this gold is found at Colomac and...
Alaska fell from favor with the 350 mining executives who responded to the Fraser Institute’s Survey of Mining Companies 2016, published on Feb. 28. This group of miners, explorers and consultants ranked the Far North State as the 14th best jurisdiction on Earth to seek and develop a mine. To gather information for its report, the Fraser Institute asks mining executives to rank the mineral potential and mining policies of mining jurisdictions around the globe. The C...
Peregrine Diamonds Ltd. March 6 reported that a recently completed internal study indicates that development of adding underground mining to the proposed development of an open-pit mine at the company's CH-6 kimberlite pipe may enhance the economics of this diamond project on the Chidliak property in Nunavut. A preliminary economic assessment completed last summer by JDS Energy & Mining Inc. envisioned an open-pit diamond mine with a life of roughly 10 years. Production would start at the CH-6, a kimberlite with 4.64 million...
Skeena Resources Ltd. March 6 said it is planning to complete 15,000 meters of surface and underground drilling during the 2017 field season at the historic Snip gold mine in northwestern British Columbia. The underground mine at Snip, which Barrick Gold operated from 1991 to 1999, produced 1.1 million ounces of gold from 1.25 million metric tons of ore averaging 27.5 g/t gold. Skeena optioned this project from Barrick last spring and went on to complete roughly 7,180 meters of drilling in 2016. In total, Skeena spent more...
Goldstrike Resources Ltd. March 3 reported that Newmont Mining Corp. has agreed to invest as much as C$53 million to earn up to a 75 percent stake in Goldstrike's Plateau gold property in the Yukon. The agreement includes a C$6 million private placement financing under which Newmont will purchase 12.71 million Goldstrike shares at C47.4 cents each. As a result, Newmont will have the right to earn an initial 51 interest in Plateau by paying C$8 million to Goldstrike; investing C$17.4 million on exploration at Plateau: and...
IDM Mining Ltd. March 7 announced it has closed a C$15.25 million private placement with Osisko Gold Royalties Ltd. This financing involved the issuance of 29.4 million common shares at C17 cents per share and 41 million flow-through shares at C25 cents per share. As a result of the financing, Osisko now owns about 19.9 percent of the IDM shares on a non-diluted basis. The roughly C$5 million raised from the sale of the regular shares will be primarily used for advancing the development of IDM's Red Mountain gold project in n...
Goldrich Mining Company March 7 said it anticipates higher gold production and potential resources expansion at the Chandalar gold mine in northern Alaska. Goldrich NyacAU Placer LLC, a joint venture between Goldrich and NyacAU to mine the various placer deposits at Goldrich's 23,000-acre Chandalar gold property, forecasts total 2017 production will be approximately 14,100 ounces of fine gold at a cost of roughly US$700/oz. In 2016, this operation produced 8,227 oz of fine gold at a cost of US$960/oz. Goldrich cautioned that...
CopperBank Resources Corp. March 7 said it has hired DOWL, an Alaska-based engineering firm, to provide initial infrastructure planning for Pyramid, an advanced exploration project on the Alaska Peninsula that hosts 172.8 million metric tons of inferred resources, averaging 0.35 percent (1.34 billion pounds) copper, 0.02 percent (74.4 million lbs) molybdenum and 0.09 grams per metric tons (488,000 ounces) gold. “Three very important components of any copper project of merit are geology, location and access to i...
