The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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Contango ORE Inc. May 13 said the Peak Gold joint venture will carry out a US$6.9 million exploration program at the Peak Gold property near Tok, Alaska. At the same time, the project partners – Contango ORE (60 percent) and Royal Gold Inc. (40 percent) – are continuing negotiations for the sale of Peak to a mining company that will advance development of the high-grade gold deposits found there. Two adjacent skarn deposits at Peak Gold – Main Peak and North Peak – host 9....
Freegold Ventures Ltd. May 15 announced the start of a US$2.2 million exploration program focused on testing the wider copper-gold potential at its Shorty Creek property in Alaska's Interior. This exploration is being funded by South32 Ltd., an Australia-based mining company that has agreed to invest up to US$10 million into exploration at Shorty Creek. Freegold Ventures identified the potential for porphyry-style copper-gold mineralization at Shorty Creek in 2014, which was...
Since its formation in 1999, Seabridge Gold Inc. has amassed very large gold resources and reserves while keeping a watchful eye on the number of shares it has issued. In its 2018 annual report, this Toronto-based exploration company said this has positioned the company well in a world of dwindling gold reserves. "The simple truth is that the industry is not finding gold at the rate it needs to. We are," Seabridge Gold Chairman and CEO Rudi Fronk penned in the report. Over...
As the Pebble Limited Partnership advances the Pebble copper-gold-molybdenum project through the permitting process, environmental groups opposed to the proposed mine are employing a wide arsenal of tactics to impede the progress. In its latest volley, Earthworks, an environmental non-governmental organization (ENGO), has requested that the British Columbia Securities Commission (BCSC) and the U.S. Securities and Exchange Commission (SEC) investigate whether Northern Dynasty...
As is usually the case this time of year, news about Alaska mineral activities is a bit sparse this month as planning activities are at flank speed ahead of next month's surge in field activities. That said, there has been a blizzard of mineral industry data released recently that has both direct and indirect applications to the Alaska mineral industry. First off, some internally generated data. Current public and private budget announcements suggest Alaska's exploration...
An alliance formed nearly two years ago between Evrim Resources Corp. and a Newmont Mining Corp. subsidiary may be paying off for the busy junior, given Newmont's recent decision to designate for option a promising gold project that the duo identified in western Northwest Territories. The alliance focused on a 23,250-square-kilometer (8,975 square miles) prospective land package that parallels the NWT-Yukon Territory border in hopes of finding world-class carbonate-style gold...
With 12.5 million acres of land spanning Alaska's Interior, Doyon Ltd. is the largest private landholder in the state and one of the largest in the nation. For mining and mineral exploration companies, the rich mineral potential of these lands may be more impressive than the sheer size of the estate. This is because the Doyon region is a nearly Texas-sized swath of Interior Alaska that is renowned for its gold and a host of other metals, providing the regional corporation,...
By this time next year, Pebble Partnership could be holding the first of dozens of permits it will need to begin developing a mine at its enormous copper-gold-molybdenum deposit in Southwest Alaska, according to Sheila Newman, deputy chief of the regulatory division, U.S. Army Corps of Engineers – Alaska District. The timing or issuance of permits, however, are not guaranteed – permitting a large mine in the United States is a long process. Newman said the testimony being gat...
Alaska Miners Association April 10 released "The economic benefits of Alaska's mining industry," a report put together by the McDowell Group that details roughly $1.26 billion in direct economic benefits from Alaska's mining sector during 2018. Healthy paychecks being brought home to more than 60 communities across Alaska is mining's biggest single economic contributor to the state. Alaska's mines, development and mineral exploration projects paid roughly $459 million to some...
Crystal Lake Mining Corp. April 1 announce the closing of a C$4.6 million financing, which will primarily be used to fund a 2019 drill program at the Newmont Lake gold-copper-silver property in northwestern British Columbia. Located about 30 kilometers (19 miles) northwest of Skeena Resources Ltd.'s Eskay Creek project and about the same distance southeast of Teck Resources Ltd. and Newmont Mining Corp.'s Galore Creek project, Newmont Lake is in an area known for deposits...
Seabridge Gold Inc. March 25 announced a five-year extension of the provincial Environmental Assessment certificate for its KSM copper-gold project in northwestern British Columbia. Originally issued in 2014, the original KSM EA certificate was issued by the Province for an initial five-year term set to expire on July 29, 2019. The new five-year certificate was approved with the same terms and conditions as the original, including the requirement to commence construction of a...
Northern British Columbia is known for its remote and rugged towns and few places can match that description as well as Stewart, a community at the southern tip of the province's famed Golden Triangle with deep mining roots. Located just across the border from the Southeast Alaska panhandle and at the head of what is called the Portland Canal, this town was built on the backs of pioneers and has retained much of its frontier history. Originally the land around Stewart was the...
As is usually the case this time of year, the mining industry is awash in backward-looking statements designed to allow for more accurate forward-looking statements. Prime among them is one of my favorites, S&P Global's annual "World Exploration Trends 2019", a summary of what happened industry-wide in 2018 and what it may portend for the mining industry in 2019. The study predicts that global exploration budgets will increase again in 2019, although by a smaller amount, with...
Seeking economic and cultural prosperity for its more than 22,000 Tlingit, Haida and Tsimshian shareholders while also looking to provide even greater benefits for future generations, Sealaska takes a balanced approach to developing the resources growing above and stored beneath its lands in Southeast Alaska. This does not mean the Southeast Alaska Native Claims Settlement Act (ANCSA) corporation shuns mining or other resource development in its region, a nearly 600-mile...
Trilogy Metals Inc. March 19 reported that much of the step-out drilling completed over the past two years is still too widely spaced to result in a significant increase in resources at this large copper deposit on the company's Upper Kobuk Mineral Projects in Northwest Alaska. At a cut-off grade of 0.5 percent, the open-pit portion of Bornite hosts 40.5 million metric tons of indicated resource averaging 1.02 percent (913 million pounds) copper; and 84.1 million metric tons...
Triumph Gold Corp.'s 2018 surface sampling provides further evidence that the already large gold-copper deposits outlined so far at its Freegold Mountain project in the Yukon may be just portions of an even greater mineralized system on the property. The sampling identified gold-copper mineralization in three zones outside the Nucleus and Revenue deposits, including bonanza grade gold in a grab sample collected from bedrock exposed by placer mining in one of the streams...
Benchmark Metals Inc. March 11 reported that its 2018 drill program has tapped gold and silver mineralization up to 350 meters southeast from the Cliffs Creek mineral resource area on the Lawyers project in northern British Columbia. Located about 45 kilometers (28 miles) northwest of the Kemess copper-gold mine project, Lawyers is home to a small underground mine that produced 171,200 ounces of gold and 3.6 million oz of silver over a four-year period beginning in 1989. This...
Newcrest Mining Ltd. has cut a deal to buy a majority position in Imperial Metals Corp.'s Red Chris copper-gold mine in northern British Columbia, which will be the Australian gold miner's first operation north of the equator. In a deal announced by the company on March 10, Australia's largest gold producer has agreed to pay Imperial Metals US$806.5 million in cash to acquire a 70 percent stake in Red Chris, not a bad sum considering the 13 billion pounds of copper and 20 mill...
The value of non-fuel metals produced in Alaska and the United States during 2018 were similar to 2017, according to Mineral Commodity Summaries 2019, an annual report published by the U.S. Geological Survey. Alaska mines produced roughly $3.44 billion worth of non-fuel minerals last year, down nearly 3 percent from the US$3.53 million in 2017. This slight drop is largely due to lower output from the two largest mines in the state – Fort Knox and Pogo. The roughly 1.4 b...
Freegold Ventures Ltd. March 5 reported that the potentially large porphyry copper-gold-silver-tungsten deposits it has been exploring on the Shorty Creek project in Interior Alaska has drawn the interest of Australia-based South32 Ltd. Under an option agreement with Freegold Ventures, a South32 subsidiary has agreed to fund up to US$10 million of exploration over the next four years, including US$2 million this year. This exploration spending keeps an option open for South32...
When it comes to attracting mining investment, Alaska, British Columbia and all three Canadian territories rank among the top 20 jurisdictions in the world on the Fraser Institute Survey of Mining Companies 2018. This report asks industry professionals from around the globe to score mining jurisdictions based on their mineral endowment and various policy topics important to mining. "The mining survey-now in its 21st year-is the most comprehensive report card on government...
Those of you that attended the recent Cordilleran Roundup Convention in Vancouver can attest to the exuberant, upbeat atmosphere that pervaded the conference and was very much in evidence at the standing-room only festivities at our annual self-hosted Alaska Night meet and greet. But digging down under this veneer of optimism, many of the junior explorers and most of the producers admitted to their expectations of challenging times in 2019. Putting words to this apparent...
The Red Dog Mine has been a gamechanger for the more than 14,000 Iñupiat shareholders of NANA Corp., the Alaska Native Claims Settlement Act (ANCSA) regional corporation that owns the world-class Red Dog deposits in Northwest Alaska that are the source of around 5 percent of the world's new zinc supply each year. The revenues from shipping out more than 1 billion pounds of zinc annually, along with healthy portions of lead, silver and minor amounts of germanium, has served...
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...
Pebble Limited Partnership has taken another step toward gaining the permits needed to develop a mine at its large copper-gold-molybdenum project in Southwest Alaska. On Feb. 20, the U.S. Army Corps of Engineers – Alaska District announced that it has published the draft environmental impact statement for a proposed 20-year mine at this world-class deposit that could help fill the United States' increasing need for copper, a demand that is being driven by the expanding e...
