The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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Explorers seeking new mineral discoveries in the Northwest Territories are expected to spend less in 2018 than the C$90 million they shelled out collectively last year. Natural Resources Canada projects spending this year for mineral exploration and deposit appraisals in the northern territory will total C$81.3 million. But some observers expect to see an uptick in hardrock mining exploration in 2018, especially in the highly prospective Slave Province where the Northwest...
Canada is the world's top destination for mining exploration spending, attracting more than 14 percent of global budgeted expenditures from explorers seeking to tap the country's vast mineral wealth. Yet in 2017, the three huge mineral-rich territories to the north, Nunavut, Northwest Territories and Yukon Territory, lured only about C$360 million, or less than one-fifth of the roughly $2.1 billion that junior and senior mining companies invested in mineral exploration and dep...
More than three dozen explorers chased lucrative mineral deposits in Yukon Territory in 2017 and most of these junior and senior companies returned to the northern jurisdiction this year to take another crack at hitting the jackpot. Known for its rich and storied gold mining history as well as its rugged mountain peaks, Yukon is roughly 15 percent larger than California, covering more than 482,000 square kilometers (186,272 square miles). Split off from the Northwest...
Since investing roughly US$70 million to acquire a 28 percent stake in Novagold Resources Inc. in 2009, American billionaire Thomas Kaplan and his Electrum Group of companies have taken a keen interest in some of the more intriguing mineral exploration companies and projects in Alaska and across Canada's North. Kaplan, an Oxford-educated historian that began investing in natural resources in the 1980s, knows that gold has served as a currency throughout mankind's written histo...
Thanks to its own rich mineral endowment, Australia is a juggernaut in the world of mining, especially across the Southern Hemisphere. Over the past couple of years, however, a growing number of Aussie mining companies are looking north to Alaska, another minerals-rich land way north of the Equator. At least four Aussie juniors – White Rock Minerals Ltd., PolarX Ltd., Nova Minerals Ltd. and Riversgold Ltd. – and three Australia-based metals producers – South32 Ltd., North...
Thanks largely to increased investments from Aussie mining explorers, mineral exploration spending across Alaska topped US$100 million in 2018. This is well above the roughly US$95 million invested last year and nearly double the US$58 million spent at the bottom of the market in 2015. "Canadian and Australian companies continue to be the source for the bulk of funds spent in Alaska in 2018, together comprising well over 80 percent of the exploration expenditures earmarked...
In 1918, the Premier gold mine opened a few miles north of Stewart, a mining town that is the southern gateway to British Columbia's famed Golden Triangle. Over the ensuing 34 years, this underground operation churned out some 2 million ounces of gold and 45 million oz of silver, making it the largest gold producer in North America during that era. A century later, Premier continues to be in play and modern exploration is unveiling the vast mineral potential that northern...
Golden Predator Mining Corp. kicked off 2018 with results from 43 "grade control" holes drilled at its 3 Aces project in southeast Yukon, including the highest-grade gold intersection drilled on the property. Highlights include: 13.72 meters of 43.02 grams per metric ton gold from a depth of 1.52 meters in hole 3A17-220, including 0.76 meters of 550 g/t (17.7 ounces per metric ton) gold; 9.15 meters of 41.03 g/t gold from a depth of 0.76 meters in 3A17-230, including 0.76...
Nova Minerals Ltd. (formerly Quantum Resources Ltd.) completed an inaugural drill program in 2018 at its newly acquired Estelle gold-copper-silver project about 100 miles northwest of Anchorage, Alaska. The Australia-based explorer optioned Estelle late in 2017 as part of a larger deal that included four other Southwest Alaska properties – Chip-Loy, a nickel-copper-cobalt-gold-silver-platinum group element project; Bowser Creek silver-zinc-lead project; Windy Fork, a rare e...
When Riversgold Ltd. listed on the Australia Stock Exchange late in 2017, the Perth-based gold exploration and development company held the Southwest Alaska project among its assets, a property that is very familiar to Allan Kelly, director of the company. "I have personally been involved with these projects since 1997, when I was part of the team that discovered outcropping high-grade gold mineralization at Quicksilver," he said. Luna-Quicksilver is among three gold...
Northern Star Resources Ltd. cut a deal in August to acquire full ownership of the Pogo gold mine in Alaska, the Perth-based mid-tier gold producer's first operation outside of Australia. The Aussie miner paid US$260 million to buy out Sumitomo Metal Mining Pogo, a joint venture between Japanese firms Sumitomo Metal Mining Company (85 percent) and Sumitomo Corp. (15 percent) that owned the high-grade gold mine east of Fairbanks. At the time of the acquisition, Pogo hosted roug...
Australia-based White Rock Minerals Ltd. set its sights on Alaska's vast and underexplored mineral potential when it acquired Red Mountain, a zinc-rich volcanogenic massive sulfide project about 60 miles south of Fairbanks, in 2016. While the two main deposits at Red Mountain – Dry Creek and West Tundra Flats, or WTF – had more than 120 historical holes drilled into them when White Rock acquired the property, a deposit had not been defined to modern reporting standards unt...
