The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 26 - 50 of 54
Auryn Resources Inc. Sept. 8 reported the acquisition of all of the issued and outstanding common shares of Homestake Resource Corp. Homestake Resources' primary asset is Homestake Ridge, a high-grade gold mine project in northwestern British Columbia. According to a 2013 calculation, the three main deposits at Homestake hosts 604,000 metric tons of indicated resource averaging 6.4 grams-per-metric-ton (124,000 ounces) gold; 48.3 g/t (939,000 oz.) silver; and 0.18 percent (2.4 million pounds) copper. Additionally, these...
A C$41 million cash infusion early in 2017 ensured Auryn Resources Inc. had the funding to carry out the major exploration programs it had envisioned for its gold properties in Nunavut, British Columbia and Peru. This major financing included a C$35 million strategic investment by Goldcorp Inc., a company that invested heavily in northern Canada gold explorers this year. Goldcorp now owns roughly 12.5 percent of Auryn shares. "With the recent funding from Goldcorp completed...
Auryn Resources Inc. Oct. 3 released partial results from its summer exploration program at the Committee Bay gold project in Nunavut. During the eight-week program, Auryn completed roughly 10,000 meters of rotary air blast drilling at various prospects, 3,750 meters of diamond drilling at the Three Bluffs deposit, 5,500 regional till samples, 3,100 XRF till samples, 1,000 line-kilometers of mapped boulders and 3,500 square kilometers of drone imagery. This year's RAB drilling was designed to test new target structures...
Raising C$14.9 million in May, a well-funded Auryn Resources Inc. anticipated 2016 exploration of its expansive Committee Bay gold project in Nunavut. Three Bluffs, the most advanced of the targets at Committee Bay, hosts 4.32 million metric tons of indicated resource averaging 4.91 grams-per-metric-ton (683,000 ounces) gold; and 5.52 million metric tons of inferred resource averaging 5.43 g/t (965,000 oz.) gold. After a thorough review of the historical data surrounding this deposit, Auryn identified a 4,000-meter-long...
Nunavut seems to be ahead of the curve when it comes to recovering from the global downturn in mineral exploration spending. An estimated C$202.5 million was invested in unlocking this Canadian territory's mineral potential in 2015. This 28 percent increase over the C$158 million invested in 2014 came at a time when most jurisdictions around the world were continuing a four-year trend of sharp drops in mineral exploration. While early estimates have Nunavut giving up some...
Endowed with some of the largest undeveloped mineral belts in the world, investment in public geoscience has shown the potential of Nunavut. The 2 million square kilometers (772,000 square miles) of the territory is geologically diverse and offers the potential for many commodities, including gold, diamonds, uranium, iron, base metals, nickel and platinum, making it an attractive destination for exploration. Although many new discoveries are yet to be made, existing mineral...
Auryn Resources Inc. Dec. 22 provided preliminary exploration plans for its Committee Bay gold project in Nunavut and recently acquired Homestake gold project in northwestern British Columbia. During its 2016 field season, Auryn identified 17 significant gold-in-till anomalies that represent large-scale mineralized systems across the 300-kilometer-long (185 miles) greenstone belt at Committee Bay. Nine of these gold-in-till anomalies were identified in the southwest region of the Committee Bay project. Anuri, a 20-kilometer-l...
With world-class mineral deposits, paved roads and commercial power, northern British Columbia is considered by many as a great place to achieve a mining explorer's ultimate goal – find a mine. "The geology has been great up there for 100 million years, but it has only been the last five that we have had run-of-river (hydro-electric) projects, dams – literally billions of dollars of new infrastructure," said Colorado Resources Ltd. President and CEO Adam Travis. The start of...
Nunavut is a vast and minerals-rich swath of the Earth's crust and Nunavummiut, or the people who live there, see mining as the foundation of the territory's future. "The mining industry brings employment and career opportunities for residents of Nunavut and provides much-needed economic benefits to families where the cost of living is high," said Nunavut Minister of Economic Development and Transportation Monica Ell-Kanayuk. To create the conditions for a strong mining...
Auryn Resources Inc. April 20 reported that it has begun mobilizing fuel and supplies for an extensive summer exploration program at its Committee Bay gold project in Nunavut that includes 25,000 meters of drilling. In January, Goldcorp invested C$35 million in Auryn, giving the gold mining major a 12.5 percent stake in the exploration company. The 2017 program will include exploration of 12 newly identified targets across the 3,800-square-kilometer (1,500 square miles) Committee Bay property. Drilling will be focused within...
Auryn Resources Inc. June 13 announced the start of a 25,000-meter exploration drill program at its Committee Bay gold project in Nunavut. This 14-week program is focused on making new discoveries by testing 12 to 14 high priority targets within five structural corridors across the 250 kilometers (155 miles) of the Committee Bay greenstone belt. These structural corridors were defined by Auryn's comprehensive regional till sampling programs conducted in 2015 and 2016. This rotary air blast drilling will be supported by...
Auryn Resources Inc. July 17 reported the start of a 15,000-meter drill program at Homestake Ridge, a northwestern British Columbia gold project the company acquired in September. According to a 2012 calculation, the three main deposits at Homestake host 604,000 metric tons of indicated resource averaging 6.4 grams per metric ton (124,000 ounces) gold; 48.3 g/t (939,000 oz) silver; and 0.18 percent (2.4 million pounds) copper. Additionally, these deposits host 6.77 million metric tons of inferred resource averaging 4.2 g/t...
Auryn Resources Inc. Oct. 19 reported that drilling at Inuk, a prospect at its Committee Bay gold project in Nunavut, cut 25 meters of 1.15g grams per metric ton gold. This hole was drilled 400 meters away from an historical intercept of 12.6 meters of 16.04 g/t gold. "We are very pleased to have hit the broad intervals of consistent mineralization at our Inuk target," said Auryn Chief Geologist Michael Henrichsen. "We have extended the mineralized system by 400 meters to the...
Auryn Resources Inc. Aug. 24 reported results from 21 out 148 holes drilled so far during the summer program at the Committee Bay gold project in Nunavut. Drilling at West Plains, which is at the southwest end of the 250-kilometer- (155 miles) long Committee Bay property, continues to show promise. Highlights from the six holes reported from West Plains include 9.15 meters of 3.48 grams per metric ton gold in hole 17WPR055; 9.15 meters of 2.89 g/t gold in 17WPR052; and 6.1 meters of 2.54 g/t gold in 17WPR053. The bottom 1.53...
Auryn Resources Inc. Sep. 14 reported results from discovery drilling at Aiviq, a prospect 12 kilometers (7.5 miles) north of the Three Bluffs deposit at the Committee Bay gold project in Nunavut. One hole drilled at Aiviq, 17RGR003, cut 12.2 meters of 4.7 grams per metric ton gold. The mineralization at Aiviq is situated along a regional shear zone that is defined by a 7,000 meter long gold-in-till anomaly. Auryn drilled a single drill fence across the zone this year, with 17RGR003 being the only hole that cut through the...
Auryn Resources Inc. Feb. 15 announced the acquisition of 19 prospecting permits covering 120 kilometers (75 miles) of the Gibsons MacQuoid greenstone belt, which is situated between the Meliadine gold deposit and Meadowbank Mine in Nunavut. The acquisition of the prospecting permits cost Auryn roughly C$100,000, granting the company the rights to explore the 329,000-hectare (813,000 acres) gold prospective area for three years and exclusive right to stake minerals claims...
Auryn Resources Inc. Jan. 9 said Goldcorp Inc. has agreed to invest C$35 million to acquire a roughly 12.5 percent interest in the gold exploration company. The deal with Goldcorp is part of a larger financing that is expected to gross C$18.17 million in cash from direct share subscriptions and C$23 million from the sale of flow-through shares. Goldcorp has agreed to acquire all of the direct shares and some of the shares offered on a flow-through basis. Under Canadian tax law...
Auryn Resources Inc. Nov. 28 posted results from a till sampling program designed to identify the highest grade gold-in-till signatures along the 300-kilometer- (185 miles) long greenstone belt at its Committee Bay gold project in Nunavut. "Auryn's belt-wide till sampling program has identified 17 significant gold-in-till anomalies that represent large-scale mineralized systems within the Committee Bay gold belt," explained Auryn COO Michael Henrichsen. Nine of these...
Auryn Resources Inc. Nov. 14 announced results from enhanced metallurgical testing on its Homestake Ridge project in northwestern British Columbia. Results from preliminary metallurgical tests completed under the direction of TS Technical Services Ltd. and Base Metallurgical Laboratories Ltd. demonstrate the ability to produce high-value copper and lead concentrates from both the Homestake Main and Homestake Silver zones respectively. The lead concentrate produced from Silver...
Auryn Resources Inc. June 20 said it has staked 162,000 hectares (400,000 acres) of claims at its Committee Bay gold project, expanding this land package to more than 380,000 hectares (939,000 acres). Auryn also has begun its summer exploration program, which will consist of roughly 10,000 meters of rotary air blast drilling focused on the Anuri and West Plain target at Committee Bay as well as regional till sampling across the entire project. During its spring program, Auryn...
Auryn Resources Inc. June 13 said it has entered into a binding arrangement to acquire Homestake Resource Corp. in an all-share arrangement valued at C$8.9 million. Under the arrangement, Homestake shareholders would receive one Auryn share for each 17 Homestake common shares held. As of June 13, Auryn was trading at C$2.68 per share. The acquisition price represents a 31 percent premium to the volume weighted average price of Homestake shares on the TSX Venture Exchange for...
Auryn Resources Inc. Feb. 21 said analysis of its 2015 summer work program along with a comprehensive review of historical data has led to the identification of a number of large-scale targets at its Committee Bay gold project in Nunavut that will provide the focus of the upcoming 2016 work program. The Anuri corridor, a more than 20-kilometer- (12.5 miles) long region of elevated gold-in-tills located in the southwest part of the Committee Bay gold belt, is one such target....
Aug:TSX.V / ggtcf:OTCQX Executive Chairman: Ivan Bebek President and CEO: Shawn Wallace After buying out North Country Gold Corp., Auryn Resources Inc. added the Committee Bay gold project, making it a major player in Nunavut gold exploration. Auryn's interest in the Committee Bay project first came to light in February when the company agreed to join North Country in a joint venture on the expansive gold property. This JV agreement, which was finalized in March, included Auryn buying 10 million North Country shares at C5...
Thanks largely to its burgeoning mining sector, Nunavut is leading the Canadian territories in economic growth. With the start-up of the Mary River iron mine late in 2014, Nunavut now has two operating mines and a number of advanced stage gold, uranium, diamond and base metals projects poised to join the ranks in the coming years. "All in all, real gross domestic product (in Nunavut) is expected to grow by 3.8 percent in 2015, the highest rate of growth among the provinces...
Auryn Resources Inc. Oct. 14 said results from its rotary air blast drill program confirmed the continuity of high-grade gold mineralization in the southwest region of it Committee Bay project in Nunavut. The program focused on the previously drilled West Plains structure and other targets within the area. Highlights from West Plain drilling include: 16.76 meters of 10.36 grams per metric ton gold and 28.96 meters of 1.41 gold in hole 15WPR001 and 27.43 meters of 2.97 g/t...
