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
Arcus Development Group Inc. Aug. 22 announced that it has completed the purchase of Atac Resources Ltd.'s 50 percent interest in the Dawson Gold joint venture, which consists of the Dan Man, Touleary, Green Gulch and Shamrock properties in the White Gold District of Yukon Territory. The Dan Man property is located immediately north of Goldcorp Inc.'s Coffee claims; and Touleary property is the location of the first significant volcanogenic massive sulfide system identified in the White Gold District. In exchange for Atac's...
Constantine Metal Resources Ltd.'s plan to expand exploration at its copper- and zinc-rich Palmer project near Haines has ruffled the feathers of some members of the Southeast Alaska community. A much larger group, however, are hailing this mineral explorer for its high ethical and environmental standards and commitments to the community. "As a lifelong resident of Southeast Alaska, one who is committed to the future health of our environment and industries, I support this pro...
IDM Mining Ltd. Aug. 24 reported the discovery of a high-grade gold-silver zone at the Lost Valley prospect of its Red Mountain gold project near Stewart, B C. Named Anda'adala'a Lo'op, or "money rock" in the language of the Nisga First Nation, this zone is part of a series of stacked, high-grade structures overprinting vertical sets of porphyry-style quartz-sulfide veins. "This discovery, which appears to be part of a stacked set is an obvious new drill target at Red Mountain," said IDM President and CEO Rob McLeod....
As tangible buoyancy returns to the mining industry, I began to wonder if any of the multitude of forecasters had actually predicted the recent return of stronger metals prices. Since most "forecasters" are actually "hindsighters," I was drawn to a November 2013 summary of gold mines by Roy Sebag of Natural Resource Holdings. The summary, entitled "Global Gold Mines & Deposits 2013 Ranking," indicated that we were nearing peak gold production because the total in-situ ounces...
Graphite One Resources Inc. Aug. 23 has raised C$1.3 million that involved the issuance of 16.25 million units at C8 cents per unit. Each unit includes one share and one transferable warrant that entitles the holder to purchase a share for C12 cents for two years. In the event that Graphite One shares trade at or above C21 cents on the TSXV Venture Exchange or the Toronto Stock Exchange for 10 consecutive days, the company has the option to provide notice for the expiry of the warrants in 45 days. The net proceeds of this...
Redstar Gold Corp. Aug. 23 reported that Eric Sprott has agreed to acquire 30 million Redstar shares through a non-brokered private placement of up to 41 million shares at C10 cents each. The financing will involve two tranches that are expected to close before the end of August. Upon full closing of the financing, Sprott will control roughly 12.1 percent of Redstar's shares. Redstar Chairman Jacques Vaillancourt also will invest in the private placement. No warrants will be o...
Goldrich Mining Co. Aug. 22 provided an update on placer gold operations at the Chandalar project in northern Alaska. As of Aug. 17, about 5,430 ounces of fine gold had been recovered from processing material stockpiled in 2015 as well as pay gravel mined in 2016. This includes 2,942 oz. of fine gold produced since the beginning of July. The gold recovered during this period was from the upper half of Little Squaw Creek but most of it was from outside the area of mineralized...
TerraX Minerals Inc. Aug. 23 reported the addition of a second drill to its 27,000-meter drill program at the Yellowknife City Gold project in the Northwest Territories. The drill program, which began in July and is slated to run through 2017, began with one drill at the Mispickel target. Discovery drilling at Mispickel, completed during the winter of 2016, cut 8.6 meters averaging 12.87 grams per metric ton gold and 7.3 meters of 23.6 gold; follow-up drilling cut eight...
Silver Range Resources Ltd. Aug. 23 said it has acquired two new gold projects, Happy Thought and Grumpy, near a new proposed road in western Nunavut. In July, the Nunavut government and the Kitikmeot Inuit Association signed a memorandum of understanding for the completion of the proposed Grays Bay Road and Port project in the Western Kitikmeot Region. Championed by the Nunavut government, this project is being advanced "to economically move resources from Nunavut to...
Silver Range Resources Ltd. Aug. 22 reported the staking of Hare and Sparta, two high-grade gold prospects in the Northwest Territories. The Hare property is located at the northern end of the Healey Lake Greenstone Belt, some 460 kilometers (285 miles) northeast of Yellowknife. This assemblage of mafic and felsic metavolcanics capped by metasediments was only recognized by the Geological Survey of Canada in the late 1970s and explored briefly by Kidd Creek Mines Ltd. in the e...
Atac Resources Ltd. Aug. 22 reported the start of a second phase of 2016 drilling at the Orion gold target, which is located within the Nadaleen Trend at the eastern end of the company's Rackla Gold project in the Yukon Territory. The initial phase of the 2016 program at Orion consisted of rotary air blast drilling in the vicinity of the Anubis Fault and crosscutting structures. Results from this drilling are inconclusive due to high volumes of water encountered and the...
Banyan Gold Corp. Aug. 22 said it has filed for approval of its recently announced C$1.2 million non-brokered private placement. The filing, subject to TSX Venture Exchange approval, will consist of 8,157,349 flow-through shares at C7.5 cents each for gross proceeds of C$611,801.18; and 9,049,211 regular units at C6.5 cents each for an additional C$588,198.72. Each unit consists of one common share and half of a purchase warrant, with each full warrant being exercisable for a...
Golden Predator Mining Corp. Aug. 18 reported results from initial processing of its winter 2016 bulk sample program from the Ace of Spades Vein (formerly Sleeping Giant Vein) at its 3 Aces gold project in eastern Yukon Territory. A total of 87.83 dry tons (79.7 dry metric tons) from a stockpile estimated at 750 tons was processed through July 12. Concentrate recovered from the shaker tables, a gravity method of recovering gold, recovered 81.408 troy ounces of fine gold and 7....
