The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 1301 - 1325 of 1467
Full Metal Minerals Ltd. has 11 exploration projects spanning Alaska. The company's two primary projects are the Lucky Shot high-grade gold property about 90 miles north of Anchorage, and the LWM zinc-lead-silver prospect at its 40 Mile property in eastern Alaska. In a joint venture with BHP Billiton, Full Metal is exploring multiple copper-gold porphyry targets on 88,675 acres of Doyon Ltd. land in eastern Alaska. Full Metal has joint venture agreements with both major and junior mining companies, including Kinross Gold,...
FREEGOLD MOUNTAIN, Yukon Territory - Bill Harris, chief executive and chief operating officer of Northern Freegold Resources Ltd., is pursuing an exploration adventure of a lifetime, literally. Harris, who was born and raised just 10 miles from Freegold Mountain, began prospecting for gold in the Dawson Mountain Range as a young child, tagging along behind his father, Glen, and their good friend Fritz Gruder in the 1960s. Nearly four decades later, his intimate knowledge of the area's geology is paying off with eye-popping...
Sherwood Copper Corp. and Capstone Mining Corp. Sept. 8 said they signed a letter of agreement to combine their operations to create a copper mining company with two producing mines in mining-friendly jurisdictions in North America. The two companies agreed to combine on an "at-market" basis with Sherwood shareholders receiving 1.566 shares of Capstone for each share of Sherwood stock. The boards of directors of Sherwood and Capstone unanimously approved the transaction. Called a true merger by Sherwood President and CEO...
Only nine months after reaching commercial production at its high-grade Minto copper-gold mine, Sherwood Copper Corporation made a significant dent in its bank debt. The company said strong copper prices along with increased production and decreased operating costs allowed for the payment. Second-quarter 2008 production totaled 12.8 million pounds of payable copper at an estimated total cash cost of C96 cents per pound of payable copper (after estimated by-product credits and...
ILIAMNA - The Bristol Bay region of Southwest Alaska is the home to two world-class resources: a celebrated sockeye salmon fishery and the humongous Pebble copper-gold-molybdenum deposit. This combination offers the potential for an enduring vibrant economy. But the challenge for owners of a proposed mine at Pebble is to create a workable development plan for the mineral resource that poses no threat to the fish resource that relies on the area's rivers and streams for its...
Everyone who is planning to work on Alaska mineral projects in 2008 is busy doing just that as the longest day of summer quickly approaches. Programs ranging from grass-roots prospecting to multimillion-dollar feasibility studies are spread over the entire state with the most active areas being Western and Interior Alaska. With the new resources for Donlin Creek now out, my unofficial records show Alaska's total gold resources at more than 169 million ounces, with gold discovery rates during the past 10 years averaging more...
Mining exploration appears to be hotter than ever this season in the Northwest Territories and Nunavut, but the Canadian Arctic region's few producers are getting hammered by the strong Canadian dollar. The discrepancy was particularly evident in the territories' mining production. The total value of metal and diamond shipments from the Northwest Territories and Nunavut Territory decreased to C$1.53 billion during the calendar year 2007 for the second consecutive year, down from C$1.63 billion in 2006 and C$1.79 billion in...
Two Vancouver B.C.-based explorers, Committee Bay Resources Ltd. and Niblack Mining Corp., have agreed to join forces. The companies have penned an initial agreement in which Committee Bay would acquire all of Niblack's securities in a one-to-one swap. Committee Bay is also investigating the possibility of advancing C$10 million to fund exploration and development of Niblack's gold-silver-copper-zinc volcanic massive sulfide property in Southeast Alaska. Though the proposal...
The game is afoot all across Alaska with the drills turning to the right on projects all across the state. The operating mines turned in strong first-quarter results and several new acquisitions, joint ventures and new players were announced in the last month. Western Alaska Teck Cominco American announced first quarter results from its Red Dog Mine. In the first quarter, the mine produced 138,500 metric tons of zinc in concentrate. Zinc ore grade increased to 21.3 percent while mill recoveries remained steady at 83.8...
After years of exploring Southwest Alaska on its own, Gold Crest Mines Inc. has teamed up with Newmont North America Exploration Ltd., a subsidiary of Newmont Mining Corp. in three separate ventures and with Cougar Gold LLC, a wholly-owned affiliate of Electrum Ltd., on five other gold properties in the region. Gold Crest May 12 said its subsidiary, Kisa Gold Mining Inc., signed joint venture agreements for the three gold properties. Three weeks before on April 24, the...
Building a power line into northern British Columbia could attract C$3.5 billion in mining investment to the area, according to preliminary findings of an independent study. The Northwest Power Line Coalition, an industry group that took up the idea when B.C. government officials dropped plans for the power line last fall, released the findings in April. They showed that not only would an electricity conduit along Highway 37 in northwest British Columbia help bring at least eight new mining projects to the region, it also...
International Tower Hill Mines Ltd. May 13 said the results from a recent high resolution airborne magnetic and EM survey completed over 30 square kilometers of mineralized areas of the company's BMP project in central Alaska show huge anomalies that warrant aggressive follow-up exploration. A day earlier the Vancouver, B.C.-based junior announced the start of resource expansion drilling at the Livengood Gold Project 100 kilometers, or 60 miles, north of Fairbanks. The company plans to drill about 42,000 meters, 136,500...
Nearly eight months into a concentrated digging program in Southeast Alaska, Niblack Mining Corp. has bored more than 2,200 feet into a mountain on Prince of Wales Island in a plan to create a 3,000-foot main access tunnel to the underground Niblack gold-silver-copper-zinc volcanic massive sulfide deposit. The tunneling program has been the primary focus of the Vancouver, B.C.-based junior since it began digging in September. The portal is located just above the Mammoth Zone...
Partnership's new CEO shares views on challenges that giant copper-gold-moly deposit likely will face on road to development ohn Shively, the new chief executive officer of Pebble Limited Partnership, told Mining News in an April 11 interview that the Pebble Project in Southwest Alaska is a huge opportunity for both the people who live in the area and for all Alaskans. Shively said it is inappropriate for Pebble's opponents to try to stop the project before it reaches the permitting process, and irresponsible of them to be...
If Alaska is the "Last Frontier," then Nautilus Minerals Ltd. surely must be exploring what can only be described as the ultimate frontier on earth - the bottom of the ocean. The Vancouver, B.C.-based junior exploration company earlier this year reported the first resource estimate for an undersea mineral deposit, ushering in what many call a new era in hardrock mining. The junior said it plans to develop substantial high-grade polymetallic (copper, gold, zinc and silver) massive sulphide deposits in 1,600 meters of water in...
Millrock Resources Inc. has added four significant Alaska gold properties to its portfolio in preparation for substantial exploration in 2008. Millrock is currently working on its 2008 exploration budget, but early estimates are that the company will spend between $3 million and $4 million on its Alaska properties this year. The bulk of the budget will be applied to exploration at the Ketchem, Estelle and Divide properties, Millrock President Greg Beischer told Mining News...
Chinese investors are gradually building inroads into ownership of mining companies operating in Yukon Territory as part of a worldwide push to acquire reliable sources of precious and base minerals. According to a report released by PricewaterhouseCoopers in March, mining merger and acquisition activity in 2008 is set to top 2007's record $158.9 billion total as the number and size of deals escalate. The report also noted the emergence of Chinese and Russian companies as major players in the acquisition hunt. Companies from...
Liberty Star Uranium and Metals Corp. April 10 said it has received interest from "more than one large global mining company" in becoming a joint venture partner to explore the 113,000-acre Big Chunk property that borders the northern and western edges of the Pebble Property in Southwest Alaska. The Tucson, Arizona-based junior said expressions of interest came within two days of a March 26 announcement that Liberty Star is seeking a partner to explore the property. "It is early in the process and the company has no way of ju...
Vancouver-based NovaGold Resources Inc. April 14 assured investors that it has a "clearly defined strategy" to rebuild shareholder value from the setbacks suffered in the market last fall when the company and partner Teck Cominco Ltd. elected to delay development of the Galore Creek Project in northern British Columbia. NovaGold's new strategy is a focus on Rock Creek and Donlin Creek, the junior's gold projects in Alaska. NovaGold also reported earnings of $28 million, or 27...
Let me extend my apologies to all those looking for a quick summary of the Alaska mining industry this month. There is nothing "quick" about the tome you are about to read, but don't blame the messenger. I just report what I read, and this month it's a sack full! No need for more words, just read on! Western Alaska NovaGold Resources announced results of a newly released report on the Rock Creek project, nearing commercial production outside of Nome. The revised feasibility...
When Steve Herschbach began his personal quest to find the mother lode with a metal detector on Moore Creek in Alaska's Iditarod Gold District in 1973, gold prices averaged about $70 an ounce. Nearly 35 years later, the 49-year-old miner may be nearing his goal at the very place he started looking. Herschbach was 14 years old when he talked his dad into giving him a front row seat on a gold hunting expedition by airplane to Flat in southwest Alaska. Young Herschbach had...
Final assay results from the 2007 drill program at the Pebble Project in Southwest Alaska are bearing out predictions about the copper-gold-molybdenum deposit made by Northern Dynasty Minerals Ltd. and Anglo American plc, co-owners of the project. Samples from 157,000 feet taken from 36 drill holes offered enticing clues to the overall size, copper-gold-molybdenum grade distribution and geometry of the Pebble East deposit. Sean Magee, a spokesman for the partnership formed by...
Mineral exploration activity in British Columbia climbed to an all-time high of nearly $416 million in 2007, up 57 percent from the previous record of $265 million in 2006. B.C. officials reported 472 exploration stage projects across the province, with British Columbia steadily gaining a larger share of Canada's exploration activity. Last year, 23 new mine development proposals were in the works for 13 metal mines, seven coal mines and three industrial mineral mines, the B.C. government said in a statement Jan. 22....
With metals prices riding high, Yukon Territory government officials are excited about prospects for increased exploration and development activity by mining companies in the coming season. "We are optimistic about industry's continued interest in Yukon," said Energy, Mines and Resources Minister Archie Lang, who joined a government delegation attending the 25th annual Mineral Exploration Roundup in Vancouver the week of Jan. 27. More than 6,000 delegates, including geologists, prospectors, junior and senior mining and...
When Anglo American plc. CEO Cynthia Carroll spoke to Alaska business leaders during a visit to Anchorage in October she vowed that the partnership between her company and Northern Dynasty Minerals Ltd. would recruit first in Alaska before looking elsewhere to find professionals to manage, run and work their massive Pebble Project. The Pebble Partnership didn't have to look far. John Wood fits the bill perfectly. Not only does Wood offer more than 35 years in civil and mining...
