The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 1 - 11 of 11
Contango Ore Inc. Aug. 25 reported second-quarter financial results along with assays from seven additional holes drilled at its Tetlin gold project in eastern Alaska. The company reported a net loss of US$1.2 million, or US31 cents per share, for the year ended June 30, compared with a loss of US$3.6 million, or US94 cents per share, for the same period last year. This substantial reduction in net loss is due to all exploration expenses this year being incurred by Peak Gold LLC, a joint venture under which Royal Alaska,...
What does a name say about a company? Management of NovaCopper Inc. feels that its corporate moniker does not say enough about the diversity of metals present in the high-grade deposits encompassed by its Upper Kobuk Minerals Projects in the Ambler mining district of Northwest Alaska. Arctic, the most advanced UKMP deposit, actually hosts more zinc than it does copper. And, while copper remains the dominant metal in terms of value, zinc supply shortages are closing the price...
Coventry Resources Ltd. Aug. 29 reported binding agreements with investors who have subscribed for 56.47 million shares at AU3.2 cents per share, to raise a total of AU$1.8 million. The company's two largest institutional shareholders, Lowell Resources Fund and Ruffer Gold Fund, have agreed to participate in the financing. Coventry said both continue to be very supportive of the company's exploration activities at the high-grade Caribou Dome copper project in Alaska. The...
Seabridge Gold Inc. Aug. 30 said results from the first two core holes drilled this year into the Deep Kerr deposit indicate an increase in the potential mining rate from the proposed underground block cave shapes for the copper-gold deposit at the KSM project in northwestern British Columbia. In March, Seabridge published an updated resource estimate for Deep Kerr of 1.01 billion metric tons of inferred resource grading 0.53 percent (11.8 billion pounds) copper and 0.35 g/t (...
Millrock Resources Inc. Aug. 30 reported the purchase of an exploration operations facility in the town of Stewart, B. C. from J. Calder Resources Inc. and Geofine Exploration Consultants. The facility, which consists of a house-office, a large storage garage, and core-cutting facility, is situated on eight real estate lots. The facility sits on a large gravel pad and the lot is securely fenced for safe storage of drill core and equipment. An array of exploration equipment...
Silver Range Resources Ltd. Aug. 30 said it has signed a letter of intent to option the Up Town gold project located about five kilometers (three miles) northwest of Yellowknife to Rover Metals Corp. The property covers eight gold showings, collectively defining two corridors of structurally hosted high-grade gold mineralization sub-parallel to the shear zone hosting the historical 8.1-million-ounce gold deposit that supported the Giant Mine. The Fox South shear at Uptown is...
Comstock Metals Ltd. Aug. 30 said a 2,500-meter rotary air blast drill program is now underway at its QV gold project in the White Gold district, Yukon Territory. This program will test for extensions of the VG Zone, where 3,400 meters of diamond drilling in 17 holes formed the basis for a maiden inferred mineral resource of 4.4 million metric tons averaging 1.65 grams per metric ton (230,000 ounces) gold. Initial testing of strong gold-in-soil anomalies with coincident...
Kennady Diamonds Inc. Aug. 30 provided an update on the summer drilling program on the Kennady North diamond project in Nunavut. Exploration and delineation drilling is being conducted from two land-based setups. One rig is focused on the Faraday 1 and Faraday 3 kimberlite complex, and the second rig is targeting Faraday 2. One hole at Faraday 2 cut 30.3 meters of continuous kimberlite, with Faraday 3 producing three separate intersects of 18.3, 20.7and 28.7 meters. Kennady...
Sabina Gold & Silver Corp. Aug. 30 provided a permitting update on its Back River gold project in Nunavut. A June report by the Nunavut Impact Review Board recommended to the Minister of Indigenous and Northern Affairs Canada not to advance the Back River project to the next phase of permitting at this time. Sabina submitted an extensive response to the NIRB Report to the minister and requested that the minister either reject the report or send it back to NIRB for further...
TMAC Resources Inc. Aug. 29 reported the safe delivery of the processing plant to its Hope Bay gold mine project in Nunavut. "We remain on track to advance the Hope Bay Project towards commercial production in early 2017," said TMAC CEO Catharine Farrow. "As of this week, the mill building is nearing full completion with the steel erected, the wall paneling and roofing installed and only some civil work remaining. We have initiated the movement of the recently off-loaded...
Northern Empire Resources Corp. Aug. 29 reported a definitive agreement to sell its Kiyuk Lake gold property in Nunavut to Montego Resources Inc., a Vancouver B.C.-based junior exploration company incorporated in 2012. Under the terms of the agreement, Northern Empire will transfer its 100 percent interest in Kiyuk Lake (subject to a 2 percent net smelter return royalty to the original property vendor) in exchange for 6.68 million Montego shares, or 19.99 percent of that...
