The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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With the acquisition finalized, major invests in spin-out, leaving all parties satisfied. After weeks of deliberation, Hecla Mining Company has finalized the acquisition of ATAC Resources Ltd. and the company's previously owned Rackla and Connaught properties in Yukon, Canada. "With the ATAC acquisition, we continue to execute our strategy of acquiring large land packages with significant exploration potential in favorable mining jurisdictions," said Hecla Mining President and...
Silver production hits 7.9 million oz during first half of 2023; a 2.5M oz boost expected from Keno Hill to close out the year. Hecla Mining Company July 13 announced that the startup of its Keno Hill mine in the Yukon and a more than 20-year production record at Lucky Friday in Idaho has helped to offset some of the lower second quarter silver production at the Greens Creek mine in Southeast Alaska. With the ramp-up to full production getting underway, Hecla's newly acquired...
Grande Portage Resources Ltd. June 6 announced the start of its 2023 drilling program, which aims for 20,000 meters in 15 to 20 holes at the company's Herbert Gold project in Southeast Alaska. Located 25 kilometers (16 miles) north of Juneau, the Herbert Gold project is an exploration stage, high-grade, gold-mineralized mesothermal quartz vein system in the historic Juneau Gold Belt. According to a 2021 calculation, Herbert Gold hosts 3.64 million metric tons of indicated...
Grande Portage Resources Ltd. March 15 announced it has signed a drilling agreement with NASCO Industrial Services and Supply for its upcoming 2023 diamond drill program at the Herbert Gold project in Southeast Alaska. Hoping to make up for its 2022 program, Grande Portage has shifted its most prospective targets planned from the year before to this year. "Our 2022 began late due to unforeseen contractor and supply chain delays," Grande Portage Resources President and CEO Ian...
Banyan Gold Corp. May 24 announced that it has added more than 2 million additional ounces to its AurMac project in the Yukon over the past year, elevating the current resource to 6.2 million oz of gold. Located about 40 kilometers (25 miles) south of Victoria Gold Corp.'s Eagle Gold Mine and adjacent to Hecla Mining Company's Keno Hill Silver District, the Aurex and McQuesten properties, or AurMac, is comprised of three deposits – Powerline, Airstrip, and Aurex Hill. A...
Starts 2023 strong with 4M oz from Greens Creek and Lucky Friday; 2.5M oz boost expected from Keno Hill to close out the year. Hecla Mining Company April 14 reported that record mill throughput at its Greens Creek Mine in Alaska helped to launch a strong start to 2023 silver production, and the slated third quarter start of production at its Keno Hill Mine in the Yukon is expected to culminate in a spectacular finish to the year. The Greens Creek Mine produced 2.8 million...
Strategic Metals Ltd., surely the most active project generator in northern Canada, recently reported substantial mineral exploration and transaction activities in 2022 and early 2023. This includes an update in January on exploration at Mount Hinton, a gold-silver project in Yukon's Keno Hill District that lies immediately southeast of Hecla Mining Company's Keno Hill Silver Mine, 35 kilometers (22 miles) southeast of Victoria Gold's Eagle Mine, and 25 kilometers (16 miles)...
The Northwest Territories capital city of Yellowknife is emerging as a northern link in North America's electric vehicle supply chain. Already home to Canada's only rare earths mine, a 160-kilometers (100 miles) area around this northern mining town happens to be enriched with the lithium and cobalt that is in massive demand for EV batteries, along with numerous other minerals critical to both Canada and the United States. A roughly 9,600-square-kilometer (3,700 square miles)...
Hecla Mining Company April 6 announced that after several weeks of deliberation, it has reached a definitive agreement to move forward with the purchase of ATAC Resources Ltd.'s Rackla and Connaught projects, while also spinning out the Yukon-focused exploration company's earlier staged copper properties into Cascadia Minerals Ltd. After declining a proposal from Victoria Gold Corp. at the beginning of February, ATAC announced shortly after its intention to sell its...
From competing offers for an exploration company with large and intriguing mineral projects in the Yukon, to the world's largest gold miner making a US$17 billion bid to buyout an Australian mining company with two producing assets in British Columbia's Golden Triangle, February was a big month for mergers and acquisitions in the North of 60 Mining News coverage area. Three M&A proposals were put forward in February that would create a shift in the North of 60 mining sector...
Banyan Gold Corp. March 6 announced the start of its 2023 exploration program at the company's AurMac property in Yukon, Canada, as well as the addition of Brad Thrall as technical advisor for early prep-work needed to build a working mine. In addition to its initially planned 25,000 meters of drilling being completed with three diamond rigs now turning, which is being supported by an on-site assay prep lab, Banyan's 2023 program at AurMac will include expanded metallurgical,...
ATAC Resources Ltd. March 14 announced that it has extended the effective period of the letter of intent with Hecla Mining Company from the initial date of March 15 to April 14. Last month, ATAC and Hecla announced the mutual entering of a non-binding letter of intent for Hecla to acquire all issued and outstanding shares of ATAC. You can read the initial announcement at ATAC acquiesces to Hecla's superior offer in the February 22, 2023 edition of North of 60 Mining News....
Banyan Gold Corp. Feb. 27 announced the analytical results from the final 57 diamond drill holes from the company's 2022 drill program at AurMac, a massive influx that further establishes the viability and prospectivity of this northern Canadian gold project. Located approximately 56 kilometers (35 miles) northeast of the village of Mayo, Banyan Gold's flagship property lies within the similarly named Mayo Mining District. Consisting of the Aurex and McQuesten projects optione...
More gold, strong zinc prices helped push value higher; critical minerals could add a boost moving forward. Alaska mines produced approximately $4.51 billion worth of nonfuel minerals last year, a 16% increase over the $3.89 billion in 2021, and an impressive 42.7% jump over the $3.16 billion of mined products during 2020, according to the U.S. Geological Survey's Mineral Commodity Summaries 2023 report. The rise in Alaska mine production value is largely due to increased...
With 50M oz from Keno Hill, Hecla's silver reserves top 240M oz in 2023. With the addition of the Keno Hill Mine in the Yukon, Hecla Mining Company now has more than 240 million ounces of silver in reserves, the highest in the company's 131-year history. "Hecla's silver reserves are an all-time high," said Hecla Mining CEO Phillips Baker, Jr. For more than a decade, it has become customary for Hecla's exploration team to find enough new ore at its operations to more than repla...
British Columbia's Golden Triangle is poised for a mining boom that raises the bar when it comes to achieving the higher environmental, social, and guidance expectations for companies that produce the gold, silver, copper, and other metals the world needs and wants. While this mineral district in BC's northwest corner is famed for its rich stores of copper, gold, and silver – and to a lesser degree, nickel, cobalt, platinum group metals, and other critical minerals – the ESG...
ATAC Resources Ltd. and Hecla Mining Company Feb. 21 announced the mutual entering of a non-binding letter of intent for Hecla to acquire all issued and outstanding shares of ATAC. Less than a week after facing pressure from Victoria Gold Corp. for its own bid to acquire ATAC, the company has chosen what it views as a more valuable transaction. You can read about Victoria Gold's bid for ATAC at Victoria presses ATAC for acquisition in the February 17, 2023 edition of North of...
Looking to add to the 4 million ounces of gold it has already outlined at AurMac, Banyan Gold Corp.'s 2022 drill program systematically expanded the footprint of the Powerline and Aurex Hill deposits on this road-accessible project in the Yukon. Located about 40 kilometers (25 miles) south of Victoria Gold Corp.'s Eagle Gold Mine and adjacent to Hecla Mining Company's Keno Hill Silver District, AurMac began 2022 with just under 1 million oz of gold in two deposits – P...
Alianza Minerals Ltd. Jan. 30 reported an outline of the drilling and exploration activities it has planned for the Haldane silver project in the historic Keno District in the Yukon. Located about 25 kilometers (16 miles) west of Hecla Mining Company's Keno Hill silver mine, the 8,579-hectare (21,200 acres) Haldane property hosts a small historical mine that was first recognized for its high-grade silver mineralization more than 100 years ago. Underground mining that began in...
Keeping stride as the largest silver producer in North America, Hecla Mining Company not only reported its second-largest silver reserves in its 130-year history but also added a highly prospective mine that brings it to the Yukon for the first time. Going into 2022, Hecla's three operating mines – Greens Creek, Lucky Friday (Idaho), and Casa Berardi (Quebec) – hosted a combined 37.3 million tons of reserves containing 200 million ounces of silver, 2.73 million oz of gold, 1.8...
Gold dominates Alaska mineral exploration, but a critical shift arises. Since the discovery of gold in what is now the Alaska capital city of Juneau, prospectors, geologists, and fortune seekers have spent more than 140 consecutive summer seasons exploring The Last Frontier's golden potential. With these endeavors turning up rich aurum lodes in every corner of the state, except for the oil-rich North Slope, the nearly century-and-a-half tradition of seeking and discovering wor...
Though effects of the COVID-19 pandemic lingered, mineral explorers rushed to the Yukon like moths to a flame during 2022. Mining's most daring sector rallied to generate the busiest field season seen in Canada's westernmost territory in years. In June, Natural Resources Canada projected mineral exploration and deposit appraisal spending in Yukon during 2022 to total C$157.9 million, up 14.5% from C$135.1 million estimated for 2021 and nearly double C$83.6 million in 2020....
Could top 17M oz during 2023 with contribution from Keno Hill Mine. With consistently strong production at its Greens Creek Mine in Alaska and a surge at its Lucky Friday Mine in Idaho, Hecla Mining Company shot through the top of its 2022 silver production guidance to 14.2 million ounces of this precious metal that is in high demand for clean energy technologies. "Hecla is the fastest growing silver producer with a 40% increase in production since 2018. This sustainable...
Banyan Gold Corp. Jan. 10 announced the results from the next 37 diamond drill holes received from the company's 2022 exploration program at the Powerline and Aurex Hill deposits at its AurMac property in Yukon, Canada. Located approximately 56 kilometers (35 miles) northeast of the village of Mayo and 356 kilometers (221 miles) north of Whitehorse, Banyan Gold's flagship property lies within the similarly named Mayo Mining District. Consisting of the Aurex and McQuesten...
With C$26 million (US$20 million) in its treasury following the closing of a C$13 million (US$10 million) financing backed by Eric Sprott and Hecla Mining Company, Dolly Varden Silver Corp. launched a 37,061-meter drill program at its Kitsault Valley silver-gold project in Northern British Columbia. "With strategic and technical input from our supportive corporate shareholder, Hecla Mining, it is our goal to make new silver and gold discoveries as well as to dramatically grow...
