The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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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...
Kinross Gold Corp. Feb. 13 reported a nearly 33 percent drop in gold produced at its Fort Knox Mine in Alaska during 2018, when compared to the previous year. This operation about 25 miles north of Fairbanks produced 255,569 ounces of gold last year, a 132,546 oz drop from the 381,115 oz produced in 2017. Kinross said this lower gold output is primarily attributed to a minor pit wall slide that occurred in March, which restricted access to higher-grade ore. This problem was...
As the year waned, Alaska's mining industry reported some of the last of its 2018 seasonal field results while the University of Alaska and state of Alaska released some current and projected state-wide economics. At the same time, some macro-economic data was released for the global mining industry. Combined, these figures show a mix of encouraging and not so encouraging trends facing the Alaska mining industry. At the global scale, things for the mining industry are looking...
WESTERN ALASKA Northern Dynasty Minerals Ltd. announced that it had finalized a surface right of way agreement with Alaska Peninsula Corporation for use of that latter's lands for the construction and operation of transportation infrastructure associated with the Pebble copper-molybdenum-gold project. Alaska Peninsula Corporation is an Alaska Native village corporation with extensive land holdings proximal to the Pebble site and more than 900 shareholders, many of which live...
Kinross Gold Corp. Nov. 7 reported lower gold production and higher costs at its Fort Knox Mine due to lower ore grades and the minor pit wall slide that occurred at this Interior Alaska operation in March and above average rainfall which affected geotechnical stability during the third quarter. Fort Knox produced 51,984 ounces of gold during the third quarter of 2018, a roughly 49 percent decrease from the 101,047 oz recovered during the same period last year. The per-ounce c...
It's clear by now that famed prospector Shawn Ryan has the Midas Touch when it comes to making significant mineral discoveries in the White Gold District of west-central Yukon Territory. During the past few weeks, junior mining company White Gold Corp. – which Ryan guides as chief technical advisor – reported not one, not two, but at least three significant gold discoveries in the region. White Gold's C$9 million, 14,500-meter exploration program for 2018 targeted expansion of...
White Gold Corp. Oct. 16 announced the discovery of Golden Saddle West, or GS West, a shallow zone of gold mineralization about 750 meters west of the Golden Saddle deposit on the company's White Gold property in the Yukon. The GS West target is found along a structural trend hosting several other targets, including the high-grade Ryan's Showing discovery announced in September. All three holes drilled this year at GS West cut Golden Saddle style mineralization, including 24...
Titanium conjures images of the durable and lightweight metal used to build aircraft, replacement hips, high-end bicycle frames and even quality golf clubs. While its outstanding weight-to-strength ratio and corrosion resistance makes this critical metal ideal for these applications, roughly 93 percent of the world's titanium is used to impart a stark whiteness to many of the consumer goods we use every day. "Titanium is different than most other metallic elements in that it...
Underscoring the interconnected nature of the global mining market, not 48 hours after the John S. McCain National Defense Authorization Act was signed into law, the mining industry began wondering out loud how they were going to produce rare earth element, tungsten, tantalum and molybdenum in the near future. Why these metals and why the worry now? Because one of the many impacts the Defense Authorization Act will have on the U.S. economy is its ban on the U.S. Department of...
White Gold Corp. Aug. 15 said it has begun drilling near-surface high-grade gold mineralization recently discovered at the Vertigo Trend on the company's JP Ross property in Yukon's White Gold District. The Vertigo gold mineralization was encountered using GT Probe, a track mounted sampling machine engineered by Dawson City-based GroundTruth Exploration. Designed to be more cost-effective and less environmentally invasive than traditional trenching, the GT Probe drives a...
FAIRBANKS: An Aug. 15 ceremonial groundbreaking for the Gilmore expansion at Kinross Gold Corp.'s Fort Knox Mine marked a new chapter in the life of this important gold operation in the heart of Alaska's Interior. Lying immediately west of the Fort Knox pit, which has produced more than 7 million ounces of gold over the past 22 years, Gilmore is expected to add roughly 1.5 million ounces of gold to the Fairbanks-area operation and extend the life of the mine out to 2030....
Kinross Gold Corp. Aug. 1 reported lower gold production and higher costs at its Fort Knox Mine due to lower ore grades and the minor pit wall slide that occurred at this Interior Alaska operation in March. Fort Knox produced 71,463 ounces of gold during the second quarter of 2018, a roughly 22 percent decrease from the 91,237 oz recovered during the same period last year. The per-ounce cost of Fort Knox gold sold during the quarter was US$969, a 53 increase over the US$635...
Although the Alaska mineral industry is in better health in the middle of 2018 than it has been in the last five years, the spirited recovery that was in progress in the first quarter of the year is now looking more like a dead-cat bounce – a minor recovery after a long down trend. This is particularly true of the exploration sector. Reviewing the Alaska minerals industry, you will note that several exploration projects are only now commencing their 2018 exploration p...
Extremely hard and with the highest melting point of all the elements on the periodic table, tungsten is a vital ingredient to a wide-range of industrial and military applications, yet none of this durable metal is currently mined in the United States. According to the United States Geological Survey, more than half of the tungsten consumed in the U.S. last year was used to make the cemented tungsten-carbide, a compound typically made with equal parts tungsten and carbon....
Millrock Resources Inc. July 18 said roughly US$5 million of partner-funded exploration is being carried out across its portfolio of mineral properties, including 10,000 meters of drilling at three projects in Alaska and Mexico. "We have plenty of potential catalysts to improve the Millrock share price through the discovery of valuable resources," said Millrock President and CEO Greg Beischer. Millrock Resources is a project generating mineral exploration company with five...
The summer field season is in full bloom across Alaska with programs stretching from the Brooks Range to southeastern Alaska, and from the Yukon border to southwestern Alaska. Exploration targets range from grassroots to mine-site, focused on commodities including gold, silver, lead, zinc, copper, cobalt and graphite. For Alaska's exploration industry, planned, announced and estimated expenditures are well over the $100 million mark for 2018. This expenditure level is well...
Freegold Ventures Ltd. June 7 said it is putting together plans for a drill program aimed at expanding the oxide resource at its Golden Summit gold property near Kinross Gold Corp.’s Fort Knox Mine in Interior Alaska. Located along a paved highway about 30 minutes north of Fairbanks, Golden Summit hosts 61.5 million metric tons of indicated resource averaging 0.69 grams per metric ton (1.36 million ounces) gold; and 71.5 million metric tons of inferred resource averaging 0.69 g/t (1.58 million oz) gold. The oxide portion o...
The Fort Knox Mine will continue churning out gold until at least 2030, thanks to Kinross Gold Corp.'s decision to move ahead with the development of Gilmore, an expansion project immediately west of the open-pit mine that has provide ore to the Interior Alaska operation for 22 years. "This go-ahead decision for Gilmore represents collaboration, hard work and dedication coming to fruition, and it wouldn't have been possible without the contributions of many," said Fort Knox...
More than three dozen explorers chased lucrative mineral deposits in Yukon Territory in 2017 and most of these junior and senior companies returned to the northern jurisdiction this year to take another crack at hitting the jackpot. Known for its rich and storied gold mining history as well as its rugged mountain peaks, Yukon is roughly 15 percent larger than California, covering more than 482,000 square kilometers (186,272 square miles). Split off from the Northwest...
Thanks largely to increased investments from Aussie mining explorers, mineral exploration spending across Alaska topped US$100 million in 2018. This is well above the roughly US$95 million invested last year and nearly double the US$58 million spent at the bottom of the market in 2015. "Canadian and Australian companies continue to be the source for the bulk of funds spent in Alaska in 2018, together comprising well over 80 percent of the exploration expenditures earmarked...
With continued financial and technical support from Agnico Eagle Mines Ltd. and Kinross Gold Corp., White Gold Corp. carried out a budgeted C$9 million program in 2018 to expand known deposits and explore the larger potential across the roughly 1 million acres (390,000 hectares) of prospective lands it holds in the Yukon's White Gold District. The explorer's massive portfolio of gold properties is a re-assemblage of White Gold prospects legendary Yukon gold prospector Shawn Ry...
Millrock Resources Inc. is a project generating mineral exploration company with five projects in Alaska, three in British Columbia (transferred to Sojourn Exploration Inc.), 16 in Mexico and one in New Mexico. Alaska Range, a property that hosts a copper-gold-silver skarn deposit and is highly prospective for copper-gold porphyries, is the most active project in Millrock's portfolio this year. In 2017, Millrock sold its Stellar copper-gold-silver project to Australia-based...
11 is a milestone year for Kinross Gold Corp. – 25 years as a growing force in the global gold mining sector. Over its first quarter-century, Kinross has grown exponentially, from producing 83,000 ounces of gold with 1.6 million oz of reserves in 1993 to a major expected to produce 2.5 million gold-equivalent-oz from 25.9 million oz of gold reserves in 2018. This dramatic expansion is largely due to Kinross' two-pronged exploration strategy – focusing its own efforts on high...
Victoria Gold Corp. is transitioning from mining explorer to developer with its sights firmly locked on building Yukon Territory's next mine. Toward this goal, the company signed paperwork with Orion Mine Finance, Osisko Gold Royalties Ltd. and Caterpillar Financial Services Ltd. that pulls together a roughly C$505 million financing package – enough to complete development of the Eagle Gold Mine project on its Dublin Gulch property in Yukon. This financing package involves two...
