The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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With final 2010 exploration in hand, Golden Predator Corp. said its Clear Creek Project vaulted to the front of the pack of the eight gold projects that it is aggressively exploring in Yukon Territory. Clear Creek is located 65 kilometers, or about 40 miles, northwest of Mayo in central Yukon. Golden Predator can earn a 100 percent interest in the property, subject to a 3 percent net smelter return royalty, of which 1 percent on 77 quartz claims can be bought back for C$1 million and 2 percent on 55 quartz claims can be...
Mining is becoming increasingly important to Alaskans looking for good-paying jobs. Not only does the industry provide high wages, the geographical diversity of the mines provides employment opportunities to oftentimes economically challenged rural regions of the vast state. According to the Alaska Department of Labor & Workforce Development, the number of mining jobs in Alaska has jumped 40.3 percent since 2000, almost triple the statewide average employment growth of 14.1...
With all eyes pointed north, the mineral industry in Yukon is having a banner year in 2010. A number of regions are continuing to attract high-profile attention. With two new mines starting production and encouraging discoveries throughout the territory, the year has been very exciting. Exploration Claim staking in the White Gold area, the Dawson Range and the 60 Mile area has been robust in 2010 with many new companies (more than 20) involved in the staking rush. Kinross Gold Corp. issued a friendly takeover offer for...
The Last Frontier, as Alaska has long been labeled, is as applicable a moniker today as it was to prospectors who ventured to the territory at the end of the 19th century. Alaska is considered one of the most mineralized provinces on Earth, but due to an inter-related combination of Arctic weather, rugged terrain, limited infrastructure and high exploration costs, the state's vast mineral potential remains at the edge of exploratory expansion. Though the Far North state...
Since International Tower Hill Mines Ltd. began exploring Livengood in 2007, it has outlined nearly 20 million ounces of gold resources. The junior continues this brisk pace as it contemplates building a mine at the Interior Alaska project. In order to focus its attention on developing the rapidly advancing project, Tower Hill has transferred its non-Livengood exploration assets into Corvus Gold Inc., a new company under the direction of Tower Hill Vice President of...
Kinross Gold Corp. is a partner of choice for many junior explorers investigating gold prospects in Alaska and northwest Canada. The Toronto-based major has formed various alliances with a number of juniors exploring for gold in the Tintina Gold Belt, the prolific 145-million-acre (58.7-million-hectare) mineral region that hosts Kinross' Fort Knox Gold Mine and huge gold deposits including Donlin Creek and Livengood in Alaska as well as significant gold showings in Yukon...
Primed for booming exploration for several years, the Yukon Territory appears to have hit big in 2010, both literally and figuratively. Emerging as one of the world's mining hot spots, the Northwest Canada jurisdiction is reporting industry investment exceeding C$120 million. Propelled by record gold prices and key gold discoveries, as well as surging demand in Asia for base metals and a mining friendly government, miners flocked to the territory in growing numbers, bringing generous exploration budgets and fresh theories...
Since its inception in 2007, Millrock Resources Inc.'s modus operandi is to seek out early-stage mineral prospects in Alaska and Arizona, complete initial exploration and then joint venture the projects to other industry players. Utilizing this project generator model the junior has amassed a portfolio of 10 gold and copper projects, seven of which received partner-funded exploration in 2010. Estelle, Millrock's flagship gold property in Alaska, had been the one caveat to the...
FVL: TSX-V President and CEO: Kristina Walcott Chief Financial Officer: Gordon Steblin Vice President, Exploration: Michael Gross Weighed down with about C$11 million in debt in mid-2009, it appeared Freegold Ventures Ltd. would become another casualty of the market collapse. Stepping into the leadership role, former Freegold Vice President of Corporate Development Kristina Walcott leveraged the value of the company's four gold assets in Alaska and Idaho. Over the course of a few short months, the new president and CEO...
TRC: TSX-V President: John Robertson With four gold properties located next door to Kinross Gold Corp.'s Fort Knox gold mine, Teryl Resources Corp. is one of the largest landowners in the Fairbanks Mining District, and a favored joint venture partner for Kinross' Alaska subsidiary, Fairbanks Gold Mining Inc. Since their partnership began at the Gil Project (Kinross 80 percent and Teryl 20 percent), the gold producer and the junior have outlined some 10.1 million tons of ore with an average grade of 1.25 grams of gold per...
VIT: TSX-V President and CEO: Chad Williams Board Chairman: T. Sean Harvey Chief Geologist: Marcus K. Johnston, Ph.D. Victoria Gold Corp., organized in 1981, is a gold exploration company focused on value growth per share through efficient exploration, project development, accretive acquisitions and effective marketing. Its strategy is to maintain a low-risk profile through project diversification and sound financial management and by operating in secure jurisdictions like Yukon Territory. In June 2009 the Toronto-based...
Massive earthmoving equipment, explosives, enormous mills pulverizing rock into dust, chemicals, metal-liquefying furnaces and extreme weather conditions - mining in Alaska is fraught with peril. Yet, according to the Alaska Department of Labor and Workforce Development, only the state's oil fields provide a safer workplace than Alaska mines. According to a state report on occupational injuries, 1.8 percent of miners in Alaska were injured in 2008, compared to the statewide...
In the last month, several of Alaska's major metal mines reported strong operating numbers; one company released a preliminary economic assessment and three new mineral exploration companies acquired exploration interests in Alaska. While the functions of explorers and producers are quite different, the symbiotic relationship between the two ends of the mining cycle is unequivocal: exploration would not exist without production and production would eventually cease without...
DAWSON, Yukon Territory - Hardrock mining explorers are capitalizing on unprecedented investor interest and going after paying gold, silver, copper-rich porphyry, lead-zinc and other metal deposits here with uncommon gusto this summer. A few years ago, a multimillion-dollar, single-season exploration program would have been a rare commodity in the Yukon. But this year, at least a half-dozen juniors have joined one major, Kinross Gold Corp., and the Yukon's only producer, Capstone Mining Corp., in forking over megabucks to...
Having completed a preliminary economic assessment for the Livengood project in early August, International Tower Hill Mines Ltd. has shifted its focus toward bringing the multimillion-ounce gold property into production. "Our operational team is making excellent progress in advancing the project down the development and permitting path, a process which we will continue to accelerate," Tower Hill President and CEO Jeff Pontius told Mining News Aug. 17. The PEA envisions a...
The annual Fraser Institute "Report on Mining Companies, 2009-2010" was recently released to a thundering silence. Several oddball items may help explain the lackluster response, but Alaska fared well in the survey of 333 companies working in 72 jurisdictions worldwide. Alaska ranked 18th out of 72 under the policy potential index, which measures the regulatory attractiveness of a jurisdiction. Not unreasonably, Alaska was beaten by some mining heavyweights like Chile, Quebec,...
In its quest to become a self-funded gold mining company, Golden Predator Royalty & Development Corp. is making major changes this year and mounting an unprecedented exploration offensive in Yukon Territory during the 2010 summer field season. The Vancouver, B.C.-based junior unveiled a name change May 21 and the appointment of a new vice president of exploration for its Canadian assets. Golden Predator said it would become "Golden Predator Corp.," effective May 25. The company said the name change was made to reflect its man...
When the financial storm of late 2008 wreaked havoc on global markets, Millrock Resources Inc. refrained from splurging its precious cash on expensive drill campaigns. But it didn't it sit idly by waiting for better economic times either. Instead, the Vancouver, B.C.-based junior invested its wealth of geological experience in identifying promising grassroots gold and copper projects. Millrock also formed key alliances with financially stable miners wanting to invest in projec...
Victoria Gold Corp. is heading into its second season of exploring its Dublin Gulch gold property 85 kilometers north-northeast of Mayo in central Yukon Territory in hopes of expanding the Eagle Gold Project and following-up on promising 2009 trenching results in the Olive and Shamrock zones. Nearly one year after acquiring StrataGold Inc., the former owner of Dublin Gulch, Victoria is still happy with the deal. "We acquired StrataGold because we liked their Yukon assets," said Victoria President and CEO Chad Williams. "There...
I recently attended the Prospectors and Developers Association of Canada convention in Toronto where a buoyant, project-hungry crowd of 22,000 created enough of its own hot air to start the Greenland Icecap melting. In a clear case of anthropogenic global warming, representatives of companies, governments and agencies rolled out their projects in efforts to see and be seen. Alaska was well represented at the conference and should see some new investment interest coming from...
Kinross Gold Corp. is making good on its promise to return to Canada. The gold producer entered into a definitive agreement with Underworld Resources Inc. March 16 to acquire 100 percent of the junior's outstanding common shares not already owned by Kinross for stock and cash valued at C$139.2 million. Kinross already owns 8.5 percent of Underworld's shares (on a fully-diluted basis). Underworld is the owner of the highly prospective White Gold property, which hosts a substantial new gold discovery 95 kilometers south of...
FAIRBANKS - Mining commonly brings to mind an industrial site littered with unavoidable hazards. Employees at Kinross Gold Corp.'s Fort Knox Mine near Fairbanks, Alaska, are proving this perception to be false. On March 6, some 500 employees at the Interior Alaska gold mine reported working 3 million hours without a lost-time accident. Fort Knox General Manager Lauren Roberts credited the mine employees' commitment to the highest safety standards and hard work with the mine's...
The Alaska Miners Association recently released an economic benefits summary of the Alaska mining industry. This summary indicated that in 2009 the Alaska mining industry provided 3,300 direct jobs along with 5,200 indirect jobs in 120 communities in Alaska with a combined payroll of US$320 million. Average industry jobs came in at US$83,000 per year, which is 85 percent higher than the average Alaska wage and second only to wages in the oil and gas industry. The industry...
I am a great supporter of Alaska's mining industry. How could an Alaskan not be? In 2009, Alaska's mining industry paid a total of US$12.3 million to local governments, US$35 million to the state government in royalties, rents, fees, and taxes, US$48.9 million in other state government-related revenues and US$320 million in direct and indirect payroll to a total of 5,200 industry jobs. Those are also proving to be some of Alaska's highest paid jobs. In my six sessions with the Alaska State Legislature, I have found myself on...
Geologically, Alaska is a terrane wreck, with multiple tectonic plates dumping their mineral payloads over the landscape. Geologists are still sifting through the wreckage in many places across the state to determine which mineral deposits were dumped by which terranes and when - a task not always easily accomplished as pileups have resulted, in many cases, from multiple mineralization events happening in the same geographical regions over time. A terrane is a series of...
