The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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Dolly Varden Silver Corp. June 11 announced that Eric Sprott and Hecla Mining Company participated in two private placement financings that raised C$7.68 million, which will primarily go towards further exploration and resource expansion at the company's Dolly Varden silver property in northwestern British Columbia. Situated 46 kilometers (29 miles) southeast of Stewart, the Dolly Varden property covers historic high-grade silver mines that date back to the early 20th century....
Fury Gold Mines Ltd., which was formed as the result of the October merger of Auryn Resources Inc. and Eastmain Resources Inc., plans to complete 25,000 meters of drilling at Homestake Ridge, a high-grade gold-silver project in British Columbia's Golden Triangle. Brought into Fury by Auryn, Homestake Ridge hosts an estimated 816,719 ounces of gold, 17.8 million oz of silver, 15.9 million pounds of copper, and 17.3 million lb of lead in three zones – Homestake Main, H...
Auryn Resources Inc. April 15 published results from a preliminary economic assessment that outlines a 900-metric-ton-per-day mining operation at its Homestake Ridge project in northwestern British Columbia that would produce 590,000 gold-equivalent ounces over a 13-year mine life. The PEA demonstrates the project's potential to become a high-grade, small footprint, underground gold mine with positive economics and upside potential from both a rising gold price and prospective...
Auryn Resources Inc. March 18 announced that it has recalled all personnel from its gold and copper exploration projects in Peru in response to concerns surrounding COVID-19 but is continuing the economic analysis and exploration planning for its precious metals projects in Canada. Prior to the Peruvian government mandating a temporary two-week border lockdown, the Vancouver, British Columbia-based mineral explorer recalled all its personnel from the field of that Latin...
Auryn Resources Inc. is gearing up test intriguing drill targets that artificial intelligence has generated on the Committee Bay gold project in Nunavut. "We are looking forward to turning the drills again at Committee Bay and to offer our shareholders the possibility of a major high-grade gold discovery using cutting-edge artificial intelligence applications," said Auryn Resources Executive Chairman Ivan Bebek. At roughly 390,000 hectares (964,000 acres) Committee Bay is a...
Auryn Resources Inc. June 4 said it has identified two new gold-silver targets at Homestake Ridge, a high-grade gold property about 20 miles (32 kilometers) southeast of Stewart, British Columbia. The new targets are roughly 6 miles (10 kilometers) northeast and 2.2 miles (3.5 kilometers) south of the three main deposits at Homestake Ridge – Homestake, Homestake Silver and South Reef. Combined, these deposits host 604,000 metric tons of indicated resource averaging 6.4 g...
In a move many considered the stuff of science fiction or fantasy just 20 years ago, junior miner Auryn Resources Inc. has used artificial intelligence to help identify gold deposits at the Committee Bay Gold Project in Nunavut. Vancouver, B. C.-based Auryn gained control of the remote arctic exploration project in 2015 through its acquisition of North Country Gold Corp. At the time, Committee Bay was known to host significant gold mineralization, including its Three Bluffs...
Auryn Resources Inc. Jan. 30 announced that it is employing an artificial intelligence program to assist in the targeting of high-grade gold mineralization at its 390,000-hectare (964,000 acres) Committee Bay gold project in Nunavut. To accomplish this cutting-edge step in geology and geoscience, Auryn has teamed up with Computational Geosciences Inc., a company that utilizes advanced software tools for data processing, inversion, interpretation, and targeting. These tools...
With the startup of two new gold mining operations scheduled for the first half of this year and recent regulatory approvals for development of at least three other gold deposits in the territory, there's little question that Nunavut is coming into its own as a gold mining center in Canada. Nearly one and one-half times the size of Alaska, the northern jurisdiction has seen little gold production since it was separated from Northwestern Territories 20 years ago. But as...
Auryn Resources Inc. Nov. 13 reported that the 2018 drill program at its Committee Bay project in Nunavut expanded Aiviq, a gold discovery made last year, and discovered gold at Kalulik, a new prospect about 15 kilometers (nine miles) to the southwest. Aiviq is situated about 7.5 miles north of Three Bluffs, a deposit with 2.1 million metric tons of indicated resource averaging 7.85 grams per metric ton (524,000 ounces) gold; and 2.9 million metric tons of inferred resource...
Auryn Resources Inc. Aug. 16 closed a C$7.3 million financing that will fund exploration of its Committee Bay and Gibson MacQuoid gold projects in Nunavut; and drilling on its Homestake Ridge gold-silver property in northwestern British Columbia. Originally slated to be C$4.6 million, the financing was increased by nearly 59 percent due to significant demand. This substantially increased private placement consists of roughly 2.1 million flow-through common shares at C$1.60...
Auryn Resources Inc. July 9 said it plans to begin a 10,000-meter drill program at its nearly 1-million-acre (390,000 hectares) Committee Bay gold property in Nunavut on July 15. The 6,000 meters of diamond drilling and 4,000 meters of rotary air blast (RAB) drilling planned for this year will follow up on the 2017 Aiviq discovery, as well as exploration drilling at five prospects – Kalulik, Tulugaq, Aarluk, Castle Pebble and Koffy – identified through a high resolution til...
Auryn Resources Inc. March 23 announced that it has raised US$9.8 million to help fund its 2018 exploration in Nunavut, British Columbia and Peru. The financing included a bought deal offering involving the of sale 6,015,385 Auryn shares at US$1.30 each. This US$7.8 million offering was underwritten by Cantor Fitzgerald Canada Corp., PI Financial Corp., Canaccord Genuity Corp., Echelon Wealth Partners Inc., Haywood Securities Inc. and Roth Capital Partners, LLC. Auryn paid a...
After four years of declines, global minerals exploration spending rose roughly US$1 billion in 2017 and is expected to see further growth this year, according to a March 5 report by S&P Global Market Intelligence. The 1,535 companies that answered a survey put out by the research firm reported US$7.95 billion of investment in the search of nonferrous metals in 2017, a 14 percent increase from the US$6.95 billion spent in 2016. Taking into account data that could not be...
Auryn Resources Inc. Jan. 6 said it has further refined drill targets at Aiviq, a high-grade gold discovery made last year at the Committee Bay project in Nunavut, and plans to further test this discovery with drilling slated to begin in March. The nearly 1-million-acre (390,000 hectares) Committee Bay property is anchored by Three Bluffs, a deposit with 2.1 million metric tons of indicated resource averaging 7.85 grams per metric ton (524,000 ounces) gold; and 2.9 million...
Twenty years ago, Canada created the territory of Nunavut, carving out the easternmost part of the Northwest Territories to form the country's northernmost jurisdiction. A vast land of lakes and tundra sprawled across the North from the Hudson Bay to the Arctic Ocean and east to Baffin Bay and the coastal waters of Greenland, Nunavut is home to only about 38,000 people, of whom 85 percent are indigenous Inuit who have lived in this frozen land for millennia. Since 1999,...
The two mega-mergers that hit the gold mining sector early in 2019 – Barrick Gold Corp. combining with Randgold Resources Ltd. and Newmont Mining Corp. acquiring Goldcorp Inc. – is forever changing the gold mining landscape around the world. While the two largest gold mining companies Newmont Goldcorp (No. 1) and Barrick (No. 2) are still in the process of shedding assets following the mega-mergers, it seems that Newmont Goldcorp will emerge with a much stronger foothold in...
A technically driven mineral exploration company, Auryn Resources Inc. has become known for applying some of the most advanced technologies in its search for gold in Canada. This year, Auryn teamed up with Computational Geosciences Inc. (CGI) to use artificial intelligence to assist in identifying the best drill targets at its 390,000-hectare (964,000 acres) Committee Bay gold project in Nunavut. VNet, a deep learning algorithm developed by CGI that requires expertise in...
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...
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...
The proposed combination of Newmont Mining Corp. and Goldcorp Inc. has raised questions about the future of the companies' gold assets in the Yukon and investments in other junior mining companies across Canada's North. Two of the gold projects in the proposed Newmont Goldcorp pipeline are found in the Yukon – Plateau, a large property being explored by Newmont, and Coffee, a project that is nearing the mine development stage. Knowing that the combined gold miner plans to shed...
Auryn Resources Inc. is a technically driven mineral exploration company focused on delivering shareholder value through acquisition and discovery. The company's portfolio includes the Committee Bay and Gibson MacQuoid gold projects in Nunavut; high-grade Homestake Ridge gold-silver property in British Columbia's Golden Triangle; and a portfolio of gold, copper and silver projects in Peru. Auryn closed a US$9.8 million financing in March and another C$7.3 million flow-through...
Goldcorp Inc.’s half-a-billion-dollar purchase of Kaminak Gold Corp. and the Coffee Gold project in Yukon Territory in 2016 marked a major shift for North of 60 mining explorers. Junior mining explorers typically look to the investment community for the venture capital needed to discover rich deposits of minerals. In turn, major mining companies come along and buy the mineral-rich project or the company that discovered it, typically providing a handsome return for the j...
Goldcorp Inc. has significantly strengthened its foothold on properties across northern Canada in recent months. Beyond the famed C$520-million acquisition of the Coffee Gold project in Yukon Territory, the Vancouver B.C.-based gold producer is investing heavily in junior exploration companies with gold exploration projects in British Columbia, Nunavut and Yukon. In January Goldcorp forked over roughly C$35 million to buy a 12.5 equity interest in Auryn Resources Inc., which...
Auryn Resources Inc. Dec. 12 reported that this summer's drill program has identified the plunge of the high-grade South Reef zone at its Homestake Ridge gold-silver epithermal project in the Golden Triangle region of northwestern British Columbia. Highlights include 30 meters of 2 grams per metric ton gold; 10 meters of 4.12 g/t gold; 18 meters of 1.29 g/t gold; 8 meters of 2.67 g/t gold; and 14 meters of 1.23 g/t gold. Auryn said these results identified the geometry of the...
