The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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With the price of gold at the threshold of US$2,000 per ounce and expected to climb higher, Kinross Gold Corp. plans to increase its global gold production by 20% over the next three years. And upping the gold output at its Fort Knox Mine a few miles north of Fairbanks, Alaska is expected to be a key contributor to this plan. Currently on pace to produce roughly 2.4 million oz of gold this year, Kinross is advancing a production growth strategy that is forecast to boost the... Full story
Rising metal prices are helping to soften the blow COVID-19 has landed on Alaska's mining sector in 2020. While mining has been deemed an essential business in Alaska, which has helped keep the six large mines in the state operating during the pandemic, measures put in place to slow the spread of COVID-19 are weighing on production at some of these operations. Efforts to flatten the curve on the spread of coronavirus also disrupted several winter drill programs in Alaska,... Full story
Resolution Minerals Ltd. July 27 said it is positioned to carry out the full US$5 million program this year at 64North, a gold exploration project next to Northern Star Resources Ltd.'s Pogo Mine in Alaska's Goodpaster Mining District. Earlier this month, Resolution announced a financing that will add A$4.6 million (US$3.3 million) to test high priority drill targets across the 64North projects. Under a deal cut with Millrock Resources Inc. last year, Resolution has the...
Millrock Resources Inc. July 29 reported it has secured exclusive rights to the Treasure Creek and Ester Dome gold exploration projects in the Fairbanks Mining District, adding to the company's portfolio in the Tintina Gold Belt. Treasure Creek is a roughly 34,600-acre land package about 20 miles west of Kinross Gold Corp.'s Fort Knox Mine, which has produced more than 8 million ounces of gold. According to Alaska Division of Geological and Geophysical Survey reports more...
Kinross Gold Corp. July 29 reported higher gold production and lower costs at its Fort Knox Mine in Alaska. During the second quarter of 2020, Fort Knox produced 56,031 ounces of gold, which is roughly an 8% increase over the 51,667 oz produced during the first quarter and slightly better than the 55,440 oz produced at the Interior Alaska mine during the second quarter of 2019. Kinross attributes the increased gold production to higher mill grades and recoveries, when...
Tectonic Metals Inc. June 25 announced that it has added a new gold property in the Goodpaster Mining District and acquired a dataset that will assist the company's exploration across this gold-rich region of Alaska's Interior. The new property, known as Maple Leaf, is roughly nine miles (15 kilometers) northeast of Tectonic's Tibbs project and about 31 miles (50 kilometers) east of Northern Star Resources Ltd.'s Pogo gold mine. The Tectonic team staked this 11,840-acre...
Freegold Ventures Ltd. June 16 announced the resumption of its 2020 program at Golden Summit with a planned 10,000-meter drill program targeting high-grade gold mineralization encountered on the property north of Fairbanks, Alaska earlier this year. A winter drill program that got underway in early March tested Freegold Ventures' theory that higher grade gold mineralization extends west from the historic Cleary Hill Mine, which produced 281,000 ounces of gold from ore...
White Rock Minerals Ltd. June 10 said a team of geologists is slated to explore the Last Chance prospect in preparation for the first drilling at this gold discovery on the company's Red Mountain project in Interior Alaska. A detailed regional stream sediment program carried out last year led to the discovery of Last Chance, which is located on the west end of White Rock's 216-square-mile (559 square kilometers) property about 60 miles (100 kilometers) south of Fairbanks. Whil...
Avidian Gold Corp. June 1 said it has signed a binding letter of intent to acquire the Fish Creek gold property near Kinross Gold Corp.'s Fort Knox Mine in Alaska from Keltic Enterprises Inc. Situated about four miles east of the area currently being mined at Fort Knox and immediately west of Kinross' Gil deposit, Fish Creek consists of 1,032 acres of state mineral lease lands. Avidian already owns Amanita, 3,608-acre property on state lands boarding the south side of the...
There are signs of renewed life for the Niblack copper-gold-zinc-silver project on Prince of Wales Island in Southeast Alaska. Heatherdale Resources Ltd., the company that owns Niblack, advanced the potential underground mine nearly to the permitting stage but became hampered by financial liabilities. A deal announced on June 3 cleans up Heatherdale's balance sheet and puts Rob McLeod at the helm of the restructured company. According to a resource calculated in 2011, Niblack... Full story
White Gold Corp. is gearing up for another season of systematically advancing the dozens of exploration targets identified across its more than 1-million-acre (422,730 hectares) land package in Yukon's White Gold District. On May 15, the Yukon-focused gold exploration company announced that longtime strategic partners and new institutional investors are participating in a C$6 million financing that involves the issuance of 6.67 million flow-through shares at C90 cents each. Go...
Freegold Ventures Ltd. April 6 announced that winter drilling at Golden Summit has encountered what appears to be an extension of the vein system that fed ore to the historic Cleary Hill Mine, which produced 281,000 ounces of gold from ore averaging 1.3 oz per ton before the operation was shuttered during World War II. The first hole of the winter program, GSDL2001, cut 188 meters averaging 3.69 grams per metric ton gold from a depth of 360 meters. The bottom 20 meters of...
COVID-19 has not affected gold output at Kinross Gold Corp.'s Fort Knox Mine but did contribute to higher production costs at the open-pit operation in Alaska during the first quarter of this year. During the first three months of 2020, Fort Knox produced 51,667 ounces of gold, which is slightly less than the 53,183 oz of produced during the previous quarter but a roughly 37% jump over the 37,613 oz of gold produced at the Interior Alaska mine during the first quarter of... Full story
The price of oil and gold heading in opposite directions in the wake of the COVID-19 pandemic could mark a tipping point that steers Alaska's economy on a new trajectory more rapidly than policymakers and prognosticators previously envisioned. As lawmakers focus their attention on slowing the spread of novel coronavirus in Alaska and re-opening the state for business as quickly and safely possible, the largest revenue stream to state coffers plummeted to subzero territory.... Full story
White Rock Minerals Ltd. April 5 said that despite the market uncertainty and travel restrictions related to COVID-19, it intends to carry out at least a limited drill program to expand zinc mineralization and test a new gold discovery on its Red Mountain property in Alaska. "As an exploration company, we understand what it is like to operate in uncertain times with uncertain outcomes," said White Rock Minerals Managing Director Matt Gill. "Work is still progressing, and we...
An employee at Kinross Gold Corp.'s Fort Knox gold mine near Fairbanks, Alaska has tested positive for COVID-19. Mine management was informed of the positive test on April 9 and informed the other worker at the open-pit gold operation. Fairbanks Gold Mining Inc., the Kinross subsidiary that operates the mine said the employee that tested positive is doing well and has not developed any serious symptoms at this time and is self-isolating at home. The infected employee has not... Full story
Kinross Gold Corp. April 1 continues to implement comprehensive and proactive measures to respond to the COVID-19 pandemic, including the implementation of more than 140 best practice measures at the Fort Knox Mine in Alaska. These new measures that allow employees to practice "social distancing" or "physical distancing" include: • Staggering shift start times and allowing 10 minutes to clock in and out. • Reducing the number of employees on buses at a time and staggering sea... Full story
A true northern pioneer far from his Eastern European home, 'Wise' Mike Stepovich, settles in a new land and leaves behind a historic legacy in Alaska's Golden Heart City. The history of Fairbanks is not unlike many other gold rush settlements, rife with rugged explorers, savvy tycoons and luckless vagabonds. So, the melting pot of happenstance plays its hand again and begets a fascinating tale of a frontier city and a man far from home. It is hard to say whether Stepovich... Full story
Alaska Miners Association March 12 announced that due to health risks associated with COVID-19, it is cancelling the AMA spring biennial mining conference that was scheduled to be held in Fairbanks from March 30 through April 4. "We are deeply disappointed that the event cannot be held as planned. However, the World Health Organization has officially declared COVID-19 a pandemic and the state of Alaska has declared a state of emergency. As an industry that holds health and... Full story
Crashing markets, quarantines, closed offices and cancelled events are reverberating across the North of 60 Mining sector in the wake of the World Health Organization declaring the coronavirus strain officially known as COVID-19 a global pandemic. At first, the effects of COVID-19 on mining in Alaska and across Canada's North was being felt mainly by the precipitous drop in the share price of mining companies doing business here – a plunge that is being further fueled by a S... Full story
Rau, an intriguing precious and base metals property at the western end of the 185-kilometer- (115 miles) long Rackla Gold property in the Yukon, will continue to be the primary focus of ATAC Resources Ltd.'s exploration efforts in 2020. Last week, the company published the results from an updated preliminary economic assessment (PEA) for Tiger, a carbonate replacement gold deposit that is the most advanced project on the 660-square kilometer (255 square miles) Rau property....
Canada's provinces and territories have fallen from grace in the eyes of the global mining community, according to the latest rendition of Fraser Institute's Annual Survey of Mining Companies. For the first time in a decade, no Canadian jurisdiction ranks in the top 10 for "investment attractiveness" in the annual survey conducted by the Canadian public policy think-tank. This report asks industry professionals from around the globe to score mining jurisdictions based on their... Full story
At just over 200,000 ounces, the 2019 gold production at Fort Knox Mine is the lowest in the 24-year history of this open pit operation a few miles north of Fairbanks, Alaska. The good news is there are indications that gold output will trend higher during 2020. In its end of 2019 results, released on Feb. 12, Kinross Gold Corp. reported a nearly 22 percent drop in gold produced at its Fort Knox mine during 2019, when compared to the previous year. This operation about 25...
After being stalled for decades, hardrock gold mine development in Yukon Territory appears to be picking up speed, as one company rockets toward full mine production by mid-2020, while at least two others report exciting new discoveries. The Yukon, legendary for producing millions of ounces of gold dating back nearly 125 years, is still one of the best places on Earth to find the precious metal. Yet few modern gold projects have managed to overcome the constraints imposed by...
Since statehood at least and, to a certain extent, since the earliest territorial days, Alaska has depended on the development of its resources for its prosperity. Fishing and mining were among the earliest major industries to evolve. As the abandoned millsites and canneries around the state will attest, those industries have waxed and waned cyclically. Oil and gas development also made a major impact on the State and undoubtedly will continue to do so well into the future;... Full story
