The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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Skeena Resources Ltd. reported additional strong gold-silver results from its phase-I drill program at Eskay Creek, including one hole that cut 31.5 meters averaging 10.16 grams per metric ton gold and 331 g/t silver. This initial phase of drilling is designed to infill and upgrade areas of inferred resources in three zones at Eskay Creek – 21A, 21C and 22 – as well to collect fresh material for an upcoming metallurgical study for this historical mine property in British Col...
As Alaska's mining industry nears the end of another hectic year during which metals prices and investor sentiments rose and fell as precipitously as the world's major stock exchanges, the industry is naturally looking into its crystal ball trying to anticipate what the new year will bring. EY Global Mining and Metals does this sort of forecasting by putting out an annual "risk radar" for mining and metals. The idea is to find out what the industry perceives as the top ten...
Skeena Resources Ltd. Oct. 31 said long sections of gold-silver mineralization cut in six additional holes from the phase I drilling at Eskay Creek continue to demonstrate the excellent grade and geological continuity of the 21A Zone of this project in the Golden Triangle of British Columbia. Over a 14-year span starting in 1994, Barrick Gold Corp. operated a mine at Eskay Creek producing 3.3 million ounces of gold and 160 million oz of silver from volcanogenic massive sulfide...
Skeena Resources Ltd. Oct. 16 announced that Peru-based miner Hochschild Mining plc has entered into an option to earn a 60 percent interest in Skeena's Snip gold project in British Columbia's Golden Triangle. Hochschild is a leading underground precious metals producer focusing on high-grade silver and gold deposits. Listed on the London Stock Exchange, Hochschild operates four underground precious metals mines – three in Peru and one in Argentina. "We are extremely p...
Skeena Resources Ltd. Oct. 1 reported high-grade gold-silver intercepts from the company's initial phase of drilling at the Eskay Creek project in British Columbia's Golden Triangle. Skeena cut a deal to acquire Eskay Creek, which hosts a previously producing precious metals-rich volcanogenic massive sulfide deposit, from Barrick Gold Corp. late in 2017. Last month the company had a resource calculated for this property that meets modern reporting standards. According to this...
Novagold Resources Inc. Oct. 2 reported that it is well-funded to see the Donlin Gold project in Southwest Alaska to a construction decision but provided very few clues as to when to expect this decision on developing a mine at one of the world's largest gold deposits. Novagold owns a 50 percent interest in the 39-million-ounce Donlin Gold project, Barrick Gold Corp. owns the other half. The Donlin Gold partners now have the key federal permits needed to develop the mine and...
When Skeena Resources Ltd. acquired Eskay Creek from Barrick Gold Corp. in 2017, the exploration company believed this historic mine property hosted significant quantities of gold and silver mineralization that fell below the cut-off grade for previous mining but may be considered economically viable ore today. A new resource calculated for Skeena backs up this theory. According to the calculation published on Sept. 17, Eskay Creek hosts 1.09 million metric tons of open-pit...
Skeena Resources Ltd. Sept. 11 reported that it cut 27.7 meters averaging 29.49 grams per metric ton gold and 973 g/t silver, or 43.39 g/t gold-equivalent, during the initial phase of drilling at its Eskay Creek project in British Columbia's Golden Triangle. Late in 2017, Skeena cut a deal to buy all of Barrick Gold Corp.'s interest in Eskay Creek. Discovered in 1988, the historic Eskay Creek mine produced roughly 3.3 million ounces of gold and 160 million oz of silver at...
Underscoring the interconnected nature of the global mining market, not 48 hours after the John S. McCain National Defense Authorization Act was signed into law, the mining industry began wondering out loud how they were going to produce rare earth element, tungsten, tantalum and molybdenum in the near future. Why these metals and why the worry now? Because one of the many impacts the Defense Authorization Act will have on the U.S. economy is its ban on the U.S. Department of...
Roughly six years after applications to federal authorities, Barrick Gold Corp. and Novagold Resources Inc. have crossed the finish line on gaining the key federal permits needed to build a mine at their 39-million-ounce Donlin Gold Mine project in Southwest Alaska. This major permitting milestone was reached on Aug. 13, when the U.S. Army Corps of Engineers and the Bureau of Land Management issued a joint record of decision for Donlin Gold, marking the completion of a...
Novagold Resources Inc. July 27 announced it has closed the deal to sell Newmont Mining Corp. its 50 percent interest in the Galore Creek copper-gold project in northwestern British Columbia for US$275 million. "I'm very pleased that Novagold is receiving fair value for its interest in Galore Creek and believe that Newmont is the right organization to carry forward the track record of excellence that we have achieved with our partners over the years," said Novagold President...
Although the Alaska mineral industry is in better health in the middle of 2018 than it has been in the last five years, the spirited recovery that was in progress in the first quarter of the year is now looking more like a dead-cat bounce – a minor recovery after a long down trend. This is particularly true of the exploration sector. Reviewing the Alaska minerals industry, you will note that several exploration projects are only now commencing their 2018 exploration p...
ATAC Resources Ltd. July 17 said results of the first three holes drilled at Osiris, the easternmost of three properties that make up the Rackla Gold property in the Yukon, show the expansion potential of the Conrad deposit. In June, ATAC Resources reported an inaugural resource for Osiris with 12.38 million metric tons of inferred resource averaging 4.23 grams per metric ton (1.69 million ounces) gold. Most of the gold outlined so far at Osiris is found in the Conrad zone,...
Novagold Resources Inc. June 27 reported that the permitting to develop a mine at Donlin Gold project is nearly complete but the timing of the final go-ahead decision on whether to develop a world-class mine at this 39-million-ounce gold deposit in Southwest Alaska remains open. Novagold owns a 50 percent interest in Donlin Gold LLC, the company created to permit and eventually develop this enormous gold deposit, global gold miner Barrick Gold Corp. owns the other half. Since...
ATAC Resources Ltd. June 18 reported a 1.69-million-ounce maiden gold resource for Osiris, one of three projects that make up the 1,700-square-kilometer (656 square miles) Rackla Gold property in the Yukon. Osiris is where ATAC first discovered Carlin-type gold, which is found in sediment hosted deposits where very fine-grained gold is typically associated with pyrite or arsenopyrite. This type of gold mineralization gets its name from the Carlin Mine in Nevada, where it was...
Graphite One Resources Inc. June 11 named Stanley Foo as chief operating officer of the company's wholly-owned Alaskan subsidiary, Graphite One (Alaska) Inc. With more than 35 years in the mining sector, including 21 years in Alaska, Foo has served as president and general manager for Donlin Gold LLC, general manager for Alaska Gold Torrent, chief geologist and general superintendent for Cortez Gold Mines (Nevada) and project manager roles with Placer Dome and Barrick Gold...
Welcome to the 10th anniversary of Mining Explorers! While there have been tectonic shifts in the mineral exploration markets over the past decade, two things have remained rock solid – mining explorers continue to uncover the vast mineral resources across Alaska and Canada's North and North of 60 Mining News has been here to tell their story. With the price for an ounce of gold pushing above US$1,300 to ring in the new year – along with zinc and copper selling at mul...
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 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...
Skeena Resources Ltd. has assembled an impressive portfolio of precious and base metals properties in British Columbia's Golden Triangle. This year the company focused its exploration primarily on expanding the high-grade gold at Snip and Eskay Creek, two past-producing mines acquired from Barrick Gold Corp. Operated by Barrick in the 1990s, the historic underground mine at Snip produced 1.1 million ounces of gold from 1.25 million metric tons of ore averaging 27.5 grams per...
Novagold Resources Inc. took several giant steps this year toward its ultimate goal – developing a world-class mine at its 50-percent-owned Donlin Gold project in Southwest Alaska. The 39 million ounces of gold in measured and indicated resource that average 2.24 grams per metric ton gold put this project in the realm of world-class by anyone's standards, even global gold miner Barrick Gold Corp., which owns the other half of Donlin. A major permitting milestone for Donlin was...
ATAC Resources Ltd.'s Rackla Gold project saw roughly C$13 million of exploration in 2018. Barrick Gold Corp. invested about C$6 million at Orion, a gold project that lies in the middle of the 1,700-square-kilometer (656 square miles) Rackla Gold property. ATAC spent the balance at Osiris and Rau, situated on the east and west ends of Rackla, respectively. Barrick has the option to earn up to 70 percent ownership of Orion by investing roughly C$63.3 million, including a...
The Donlin Project took one step closer to becoming the next major mine in Alaska when on Aug. 13, the Army Corps of Engineers and the Department of the Interior signed off on a record of decision regarding the discharge of dredged material and a pipeline right of way as part of the development of the project. In today's political environment, the development of any resource project requires a bevy of permits from diverse agencies and entities, and that entails a mountain of...
