The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 1 - 13 of 13
Kiska Metals Corp. July 21 reported the signing of a binding agreement to sell its Whistler copper-gold project to Brazil Resources Inc. Under the purchase agreement, Brazil Resources will issue Kiska 3.5 million shares in exchange for full ownership of Whistler, including the mining claims and other assets belonging to the project. Brazil Resources' shares were trading at C46 cents per share on the Toronto Venture Exchange on July 21, making the deal worth roughly C$1.61 mill...
Hecla Mining Co. July 16 said its Greens Creek Mine produced 1,856,125 million ounces of silver during the second quarter, a 10 percent increase over the 1,689,183 oz. recovered from the Southeast Alaska operation during the same period of 2014. Hecla attributes this higher silver production to improved recoveries and grade, partially offset by slightly lower tonnage. Silver recoveries increased 8 percent, or 5.6 percentage points, to 75.4 percent compared to 2014 due to...
The Alaska Division of Geological & Geophysical Surveys July 16 published preliminary results of geologic mapping conducted in the Talkeetna Mountains during 2014. The resultant map presents new, detailed information about bedrock geology, surficial deposits, and faults for a 450-square-mile area about 50 miles east of the town of Talkeetna. DGGS says the results have implications for platinum, gold, and copper exploration in the region, and for the proposed Susitna-Watana...
WestMountain Gold Inc. July 19 reported the shipment of 410 ounces of gold doré from the first 2.5 weeks of 2015 pilot plant operations at its Terra project in Southwest Alaska. Doré produced from the Terra pilot plant last year averaged roughly 70 percent gold and 30 percent silver. The company says the mill is averaging 8 to 10 tons daily, and there are plans to upgrade the milling facility. WestMountain CEO Greg Schifrin said, "We are pleased to have operations underway a...
Fortune Minerals Ltd. July 17 said it has reached a two-stage restructuring agreement with LRC-FRSM LLC (Lascaux) and its other secured creditors to settle its secured debt obligations. In early July, Fortune subsidiary, Fortune Revenue Silver Mines Inc., the owner of the Revenue Silver Mine in southwest Colorado, received a default notice from Lascaux. In addition to the Revenue Mine, the debt owed Lascaux was secured by Fortune's assets in Northwest Territories and...
Peregrine Diamonds Ltd. said its 2015 field work is focused on continued expansion of the diamond resource at its Chidliak project, located 120 kilometers northeast of Iqaluit, capital of Nunavut. A recently completed independent review by Mineral Services Canada Inc., Peregrine's external qualified person, has highlighted an approximate one-million-metric-ton resource expansion opportunity for the CH-6 kimberlite. Both the resource expansion at CH-6 and the scale of a...
Pretium Resources Inc. July 15 said results from a second set of assays from an underground infill drill program in the Brucejack project's Valley of the Kings zone continues to confirm the style and grade distribution of the gold mineralization in the area of the pending underground mine being tested. Highlights from the most recent results include: 13.75 meters grading 164.54 grams of gold per metric ton gold uncut in hole VU-422; 10 meters of 259.48 g/t gold uncut in hole...
Copper North Mining Corp. July 20 said drilling is underway at its Carmacks copper-gold project in central Yukon Territory. The drilling will focus on both new exploration targets identified during the past month of detailed geophysical targets and definition drilling of several of the mineral zones to expand mineral resources. The Carmacks project currently hosts 11.98 million metric tons of measured and indicated resource grading 1.07 percent copper, 0.46 grams per metric...
The 40-million-ounce Donlin Gold project is more than midway through a roughly five-year permitting process, but gold prices are dipping to lows not seen in nearly five and a half years and trending downward. Will project owners Barrick Gold Corp. and Novagold Resources Inc. be willing to pull the trigger on development once the hard-earned permits are in hand? The Donlin Gold partners say it depends on where gold prices are headed and what the equity costs are for raising...
Northquest Ltd. July 15 reported the start of a planned 7,800-meter drill program at its Pistol Bay gold project in Nunavut. The Pistol Bay claims cover 90 kilometers (55 miles) of the Pistol Bay trend which is a west-trending series of surface gold occurrences and gold zones parallel to, and 80 kilometers (50 miles) south of, a similar trend that hosts Agnico Eagle Mines' Meliadine gold mine project. Since the initial field work commenced at Pistol Bay in April 2011,...
Sabina Gold & Silver Corp. July 14 reported the completion C$1.3 million non-brokered private placement comprised of 2,661,600 flow-through common shares at C50 cents per share. "We are pleased that this financing bolsters our already strong treasury," said Sabina President and CEO Bruce McLeod. "We believe that the work we are doing at Back River continues to de-risk and add value to the project and that the use of flow-through funds to facilitate some of this work is a more...
Alaska's highest court says the Lake and Peninsula Borough does not have the authority to enforce the ordinance resulting from the "Save Our Salmon" initiative passed by voters in 2011. The SOS Initiative, passed by Lake and Peninsula Borough voters in 2011, would have prohibited borough planners from issuing a permit to any project that would disturb more than one-square-mile of topsoil would be determined to have a "significant adverse impact" on waters supporting salmon....
Over the past month Alaska's mining industry has suffered a perfect storm of manmade and natural issues that read like something from a pulp fiction novel. On the man-made side of the ledger, gold, silver, copper, and lead prices have all hit 5-year lows and zinc prices continue to slide lower. Mining equity markets are still in severe decline, making it extremely challenging for junior exploration companies to raise the risk capital necessary to explore their Alaska...
