The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 126 - 150 of 190
Aura Silver Resources Inc. Aug. 14 reported that Agnico Eagle Mines Ltd. has begun a 1,000-meter drill program at Aura's Greyhound property in Nunavut. This drilling program will focus on the previously identified gold and silver rich zones around Aura Lake as well as the gold and base metal, copper-rich area at the Dingo zone. Agnico completed a similar-scale program at the property last year. The Greyhound property is located 32 kilometers (20 miles) south of Agnico's...
Agnico Eagle Mines Ltd. July 29 reported net income of US$10.1 million (US5 cents per share) for the second quarter of 2015, compared with net income of US$22.2 million (12 cents per share) for the same period last year. Cash provided by operating activities was US$188.3 million, up slightly from US$182.7 million provided by operating activities during the same period a year ago. Agnico said a 24 percent jump in gold production was the primary reason for the increased cash...
Agnico Eagle Mines Ltd. June 10 reported that results from the 2015 phase 1 exploration program at the Amaruq gold project in Nunavut exceeded expectations. Drilling during this program filled a gap under Whale Lake with significant gold grades and good widths, including 19.8 grams per metric ton gold (capped) over 5.0 meters in hole AMQ15-187; and 15.9 g/t gold (capped) over 14.6 meters in hole AMQ15-181. The drilling also confirmed a new gold structure about 100 meters north of the Whale Tail deposit, including 6.1 g/t...
Northern Empire Resources Corp. has laid claim to Richardson, a 52,000-acre gold property in Alaska's Interior and has formed an alliance to begin exploring a segment of this vast parcel. Northern Empire is a prospect generator with early-stage gold properties in Alaska and Nunavut and a silver property in Mexico. The company was formed as part of a restructuring of Prosperity Goldfields Corp., a Nunavut-focused exploration company headed by Adrian Fleming. As part of a re-org...
Agnico Eagle Mines Ltd. March 20 announced several senior management changes, including the appointment of Ammar Al-Joundi as the company's new president. Al-Joundi, a former chief financial officer of Agnico Eagle, most recently served as CFO and senior executive vice-president of Barrick Gold Corp. from July 2012 until February of this year. With Al-Joundi serving as president, Sean Boyd's title will change to vice-chairman and CEO. Al-Joundi will report to Boyd and assist him and the senior management team in setting and...
Agnico Eagle Mines Ltd. Feb. 11 reported 1,429,288 ounces of payable gold for 2014, marking the fourth straight year of record gold production from the company's nine mines. Agnico attributes its improved gold production, which is 30 percent greater than the 1.1 million oz in output it reported in 2013, to strong operating results from all of its operations. The company's Meadowbank Mine in central Nunavut produced 452,877 oz of gold in 2014. Gold output at this operation is currently forecast to decline during the next...
Imperial Metals Corp. Feb. 6 reported that commissioning is underway at the Red Chris gold-copper mine in northwestern British Columbia. The company Feb. 2 received approvals needed to start up the processing plant at Red Chris and began testing the grinding circuit Feb. 3. Mining in both East and Main zones continues, providing a selection of ore styles for mill optimization. Imperial said it is continuing to work closely with the Tahltan First Nation, whose cooperation has been instrumental in construction of Red Chris....
Sabina Gold & Silver Corp. made considerable progress in 2014 in advancing its Back River Gold Project located in southwestern Nunavut toward production. If the project continues development on its current track, the junior could pour first gold as soon as 2018 and quickly rival Agnico Eagle Mines Ltd.'s Meadowbank Gold Mine in size, producing 300,000 to 400,000 ounces of gold annually for 10-15 years. The Back River project comprises seven properties covering 48,563 hectares (120,000 acres), located 520 kilometers (322.4...
Thanks to recent progress in development of several major projects in 2014, the outlook for diamond mining in Northwest Territories is suddenly a lot brighter. This is especially good news for the territory's mining industry, which is largely dependent on the production of diamonds now and in the foreseeable future. This point was driven home most forcefully in "Measuring Success 2014: NWT Diamond Mines Continue to Create Benefits," a report recently released by the NWT & Nunavut Chamber of Mines. An update of a January 2013...
Mineral and coal exploration in British Columbia, which peaked at C$680 million in 2012, retreated to roughly C$476 million in 2013. This drop is on par with the roughly 30 percent decrease in exploration expenditures worldwide. The dynamics that led to the decrease - tight capital markets that continue to challenge the ability of junior explorers to raise money, senior miners keeping tight reins on exploration spending and softer gold prices - have remained in play during...
Mineral exploration activity is holding its own in Nunavut this year, despite a tough funding environment and stiff competition from other attractive mining jurisdictions around the world. Although the Far North territory has only one operating mine, Meadowbank, at least eight mineral projects are currently hurtling through development and the permitting process on their way to production. Of these, two projects - one gold and one iron - have project certificates, and six projects are progressing through the environmental...
From expanding reserves at its proposed Meliadine gold mine to early-stage exploration at an enticing gold discovery a few miles up the road from its Meadowbank Mine, 2014 is emerging as a year marked with exciting growth for Agnico Eagle Mines Ltd. In addition to growth through the bit of a drill, Agnico expanded its reserves and production profile through acquisitions. In June, the producer and Yamana Gold Inc. finalized the purchase of Osisko Mining Corp. Agnico and Yamana...
NQ: TSX.V CEO: Jon North Chief Financial Officer: Carmelo Marrelli Vice President, Exploration: Dwayne Car Northquest Ltd. is focused on seeking gold and other metals in geological terranes that have not reached geological maturity, such as its Pistol Bay gold project in Nunavut. This 861-square-kilometer (332 square miles) property covers 90 kilometers (55 miles) of the Pistol Bay Trend, a west-trending series of surface gold occurrences and zones that runs parallel to, and 80 kilometers (50 miles) south of, the Meliadine...
Government policymakers in Canada and the Northwest Territories are joining mining companies in preparing for an employment boom that economists predict will swamp the North in the next three to five years. The anticipated surge in jobs is part of a nationwide wave of employment growth expected in the next decade. Canada will need 145,000 new workers in the mining sector along with 300,000 new workers in construction and 150,000 new workers in petroleum. The mining-driven Northwest Territories economy generates nearly 50...
Kivalliq, located northwest of Hudson Bay and sharing a border with the Northwest Territories and Manitoba, is the heart of Nunavut's gold country. This central region of the territory is also the home of Nunavut's sole operating mine, Meadowbank. The region's diverse geology hosts a number of mineral occurrences and deposits, particularly gold, uranium, nickel, platinum group elements, base metals, rare earth elements, and diamonds. In 2013, exploration activity in the Kivalliq Region primarily involved gold and uranium,...
The startup of Cameco's Cigar Lake uranium mine in Saskatchewan is one more link in a recent chain of events that has observers predicting a significant comeback for the industry in 2014. Beginning last fall, industry analysts began to forecast rising uranium prices in 2014, citing a number of reasons, from the development of more nuclear reactors to a return to imminent shortages of reactor fuel. They also greeted news of the March 13 startup of the new Athabasca Basin uranium mine with further optimism. "The long-term...
Despite a surge in economic activity in recent years, Nunavut still has considerable work to do for its residents to achieve prosperity. That's the conclusion of the 2013 Nunavut Economic Outlook, a report based on research conducted by Impact Economics on behalf of the Nunavut Economic Forum last summer and fall. The forum released the 98-page report at the North Lights Trade Show in Ottawa in January. Subtitled "Nunavut's Next Challenge: Turning Growth into Prosperity," it details recent socioeconomic developments in the...
Miranda Gold Corp. has tied up a 20-year lease on the Willow Creek project, a road-accessible, high-grade gold property located a short 75 miles (121 kilometers) north of Anchorage, Alaska. The 8,700-acre (3,520 hectares) property blankets a large portion of the Willow Creek mining district, including the historical Lucky Shot and War Baby mines. It is estimated that from 1918 until being shut down by the War Production Board in 1942, these two underground operations,...
AEM: TSX / NYSE President and CEO: Sean Boyd Senior Vice President, Operations: Yvon Sylvestre Senior Vice President, Exploration: Alain Blackburn Mid-tier gold producer Agnico-Eagle Mines Ltd. is focused on its advanced-stage Meliadine project and its Meadowbank Gold Mine located in central Nunavut. The Meliadine project, acquired by Agnico-Eagle in 2010, covers more than 80 kilometers (50 miles) of a greenstone belt, and is one of the company's primary exploration focuses. As of Dec. 31, 2012, Meliadine had reserves of 3 mi...
Market-defying mineral exploration grabbed the spotlight in British Columbia throughout 2013, despite the doldrums that appeared to set in north of the 60th parallel. "British Columbia is blessed with an abundant supply of the resources the world needs and the most innovative mining and exploration sectors," British Columbia Premier Christy Clark touted the phenomenon at the 2013 Mineral Exploration Roundup in January. Still, Clark told the crowd that she doubted B.C. exploration could top the record C$462 million spent in...
Nunavut's exploration and mining opportunities consistently have attracted the attention of the major global producers. Natural Resources Canada determined that C$422 million was spent on exploring for minerals in Nunavut in 2012, and estimates that C$313 million will be spent in 2013. Exploration is underway for many minerals in Nunavut and much of the territory remains largely under-explored. These realities suggest that Nunavut's mineral production will increase substantially in the next decade. Nunavut has one operating...
There is a reason why Nunavut has one of the fastest-growing economies in Canada: mining. With one operating gold mine at Meadowbank, two huge projects on the verge of startup at Hope Bay and Mary River, five projects advancing through the environmental assessment process at Meliadine, Back River, Hackett River, and the Izok corridor as well as exploration activities continuing across all three regions of the territory in 2013, there's little wonder that Nunavut's "time has come." "Mining has the best potential to create...
NQ: TSX-V CEO: Jon North Chief Financial Officer: Carmelo Marrelli Vice President, Exploration: Dwayne Car Northquest Ltd. continued to focus in 2013 on the 861-square-kilometer (332 square miles) Pistol Bay Gold Project which covers a 90-kilometer strike length of the Pistol Bay Trend, a west-trending series of surface gold occurrences and gold zones in central Nunavut. The newly recognized trend is parallel to, and 80 kilometers (50 miles) south of, the Meliadine Trend of gold deposits owned by Agnico Eagle Mines Ltd. The j...
TerraX Minerals Inc. may have crafted the perfect gold exploration program to carry out during a capital-scarce down cycle. The Vancouver-based junior won a competitive bid in January to explore the gold-rich Northbelt claims, which consists of 121 leases totaling 3,562 hectares (8,802 acres) covering about 13 kilometers of strike along the prolific Yellowknife Belt, 15 kilometers (9 miles) north of the city of Yellowknife, Northwest Territories. The property was offered for sale by Samson Belair/Deloitte & Touche Inc.,...
An exploration gamble undertaken in southern Nunavut in late 2010 by Northquest Ltd. is proving to be a good bet. The Toronto-based junior Sept. 4 reported results from three holes drilled in the Vickers Target on the Pistol Bay Gold Project in Nunavut, including 158.4 meters averaging 3.46 grams per metric ton gold from 9.95 meters depth in hole PB-13-03. Two intervals of high-grade mineralization were encountered including 16 meters averaging 9.47 g/t gold at 17.51 meters depth and 18 meters averaging 11.33 g/t gold at...
