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
Millrock Resources Inc. May 24 announced a deal that will ultimately move the Stellar copper-gold project into Polaris Minerals Ltd, a new exploration company that will own two high-grade copper project in Alaska. To complete this deal, Millrock has agreed to sell Stellar to Vista Minerals Pty Ltd. in exchange for 25.14 million Vista shares, or 27.7 percent of the Australia-based explorer. A 2015 agreement under which Vista Minerals was earning an 80 percent interest in...
Kennady Diamonds Inc. May 23 reported that 737.6 carats of diamonds were recovered from a 262.6 metric ton sample collected during its large diameter drilling program at the Faraday 2 kimberlite of its Kennady North project in Northwest Territories. At 2.81 carats per metric ton, the result from this sample is similar to a 2016 mini-bulk sample from the kimberlite that averaged 2.69 c/t. The latest sample produced 45 diamonds that were one carat or greater, 12 of which are described as white in color. The largest stone is a...
Now that the Pebble Partnership has settled its dispute with the U.S. Environmental Protection Agency, the company is focusing its attention on readying the world-class Pebble copper-gold-molybdenum project for permitting. The first move towards attaining this goal was to assemble an advisory committee that will provide valuable insights from a broad range of perspectives, including those that voiced concerns about building a large mine in the Bristol Bay region of Southwest...
North Arrow Minerals Inc. May 18 announced the closing of a C$5 million non-brokered private placement that involved the issuance of 20 million units at C25 cents each. Each unit consists of one North Arrow share and a warrant that entitles the holder to buy another share at C40 cents until May 18, 2020. As part of the private placement, Electrum Strategic Opportunities Fund L.P. and Ross Beaty have each made a C$2 million investment and each will own 19.01 percent of North Arrow's outstanding shares, assuming the exercise...
IDM Mining Ltd. May 23 published assay results from the first six holes of the 2017 season at the Red Mountain gold-silver project near Stewart, British Columbia. Five of the holes drilled targeted the expansion of the AV zone at Red Mountain. Highlights from these step-out holes include 1.82 meters of 19.25 grams per metric ton gold and 35.65 g/t silver in hole U17-1228; 6.23 of 12.95 g/t gold and 48.83 g/t silver in U17-1229; and five meters of 8.78 g/t gold and 53.04 g/t...
TMAC Resources Inc. May 23 announced that commercial production has been achieved at its Doris gold mine and mill at the company's Hope Bay property in Nunavut. The company said the processing plant at Hope Bay has been operating at greater than 60 percent of its 1,000-metric-ton-per-day capacity since early April and averaged 80 percent of capacity during the first half of May. TMAC said it is making improvements and optimizations that will enable ramp up to steady throughput of 1,000 tpd. In addition reaching mill...
The Government of Yukon May 18 announced that it has approved 21 placer and 38 hard rock projects to receive C$1.6 million in funding through the Yukon Mineral Exploration Program. Designed to promote and enhance mineral prospecting and exploration in the Yukon, YMEP provides up to C$40,000 per year for exploration work aimed at discovering new placer resources or for exploration work aimed at moving a discovery on a claim to an advanced exploration stage; up to C$25,000 a...
Kinross Gold Corp. May 18 said it has cut a deal to trade its White Gold project and other properties in the Yukon to White Gold Corp. in exchange for a 19.9 percent stake in the junior gold explorer. White Gold owns 23 properties covering 2,970 square kilometers (roughly 633,900 acres) of gold prospective lands in the Yukon, most of which were acquired from legendary prospector Shawn Ryan and Wildwood Exploration Inc., a company owned by Ryan and his wife, Cathy Wood. "We...
