The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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As a project-generating exploration company, Millrock Resources Inc. identifies and secures grassroots mineral projects and brings on partners to fund the high-risk early stages of exploration. During 2022, two Australian companies had drills turning on large gold properties Millrock assembled in Alaska's Fairbanks and Goodpaster mining districts. The largest of these programs was carried out by Felix Gold Corp. on the Treasure Creek property in the Fairbanks District, a...
With the January completion of an A$10 million (U$7.1 million) initial public offering and listing on the Australian Securities Exchange, Felix Gold Ltd. went into 2022 well-positioned to begin drilling the large package of gold exploration properties it had assembled in Alaska's Fairbanks Mining District. As a private company, Felix entered into a strategic alliance with Millrock Resources Inc. in 2021 on several Interior Alaska gold exploration projects – Treasure Creek a...
Contango ORE Inc. Dec. 23 announced that it has raised US$5.6 million through a private placement to help fund the company's 30% interest in the development costs at Manh Choh until it can arrange a larger financing package for advancing the 1-million-ounce gold mine project to production. This financing involved the issuance of 283,500 shares at US$20.00 each, plus warrants that allow the purchasers to acquire additional shares at $25.00 each. "This equity capital raise will...
Millrock Resources Inc. Nov. 21 reported that the 2022 drilling being carried out by Felix Gold Ltd. continues to cut significant near-surface gold mineralization in multiple zones on the Treasure Creek property in Alaska's Fairbanks Mining District. As a private company, Felix entered into a strategic alliance with Millrock in 2021 on several Interior Alaska gold exploration projects – Treasure Creek and Ester Dome near the city of Fairbanks, plus the Liberty Bell project abo...
Kinross Gold Corp. Nov. 9 reported another quarter of strong production at its Fort Knox gold mine in Alaska. During the third quarter, Kinross' Alaska operation produced 75,522 ounces of gold, which is down only slightly from the 77,184 oz of gold produced in the previous quarter and about 8% higher than the 71,336 oz recovered during the third quarter of 2021. Kinross attributes the strong third quarterly production to increasing mill throughput. During the three months...
Snowline Gold Corp. Nov. 15 announced that drills cut an incredible 128.2-meter intercept averaging 2.48 grams per metric ton gold from surface, within a wider 285.2-meter section averaging 1.45 g/t gold at its Rogue project in the Yukon. Much like its V-22-010 hole that cut 318.8 meters of 2.55 g/t gold, which Snowline says changed its perception of the Valley zone, this latest step-out adds "significantly to the prospective scale and grade of our unfolding gold discovery at...
Kinross Gold Corp. July 27 reported that its Fort Knox Mine produced 77,184 ounces of gold during the second quarter of 2022, which is the highest quarterly gold production at the Interior Alaska operation in four years. The company attributed the strong quarterly gold output to a combination of higher-grade ore being fed into the mill, increased mill throughput, and more gold recovered from the heap leach pads. During the second quarter, the Kinross Alaska mill at Fort Knox...
Alaska is known to be a trove of the minerals and metals critical to every segment of the American economy. This critical mineral richness is despite the fact that Alaska is a vast state that remains largely underexplored. To help gain a better understanding of the Last Frontier State's potential to provide domestic supplies of the 50 critical minerals, the U.S. Geological Survey has allotted $6.75 million to explore specific regions of the state for 29 critical minerals. The...
Felix Gold Ltd. Aug. 1 announced additional near surface gold intercepts from the 15,000-meter drill program being carried out this year on the Treasure Creek project about 20 miles north of Fairbanks, Alaska. Situated about 13 miles west of Kinross Gold Corp.'s Fort Knox Mine, Treasure Creek hosts numerous prospects with interesting drill intersections reported by previous explorers on the property. Roughly 2,000 soil samples collected last year identified two key targets...
With the recently completed feasibility study showing an economically robust project, Kinross Gold Corp. has officially decided to move forward with developing a mine at the Manh Choh gold-silver project near the Village of Tetlin, Alaska. "At Manh Choh in Alaska, we completed a feasibility study ahead of schedule, and are proceeding with a project that we expect will add approximately 640,000 lower-cost gold ounces to our production profile over its life of mine in one of...
Victoria Gold Corp. July 12 reported that its Eagle Gold mine in the Yukon produced 32,055 ounces of gold during the second quarter, resulting in approximately 56,413 oz for the first half of the year, a consistent amount from the Canada miner. "Similar to previous years, the first half of 2022 was a seasonally slow production period at the Eagle Gold mine," said Victoria Gold President and CEO John McConnell. Generally, gold production at heap leach operations like Eagle...
With an earlier than expected feasibility study on its way for Manh Choh, drilling started at Lucky Shot, and the addition of geologist Curt Freeman to its board of directors, Contango ORE Inc. has a lot to look forward to as 2022 progresses. Freeman's addition to the Contango ORE board coincides with the departure of Joseph Greenberg, an oil and gas executive that has been a director of CORE since it was spun out of Texas-based Contango Oil and into a public company in 2010....
White Gold Corp. July 5 announced the start of its 2022 drill program at the Betty Ford and Mascot gold targets on the Betty property, located within the southern part of the company's enormous land package that covers much of the White Gold District in Yukon, Canada. Betty is strategically positioned about 15 kilometers (9 miles) northeast of Western Copper and Gold Corp.'s Casino porphyry deposit and 40 kilometers (25 miles) east of Newmont Corp.'s Coffee gold deposit. "Our...
Dozens of prospectors and junior mining companies are trekking into the bush in Yukon Territory this field season, seeking the next big pot of gold in a fabled land rich with possibilities. Leading the charge is White Gold Corp., which initiated 7,500 meters of drilling, including 5,000 meters of diamond drilling, 1,000 meters of reverse circulation drilling and 1,500 meters of rotary air blast drilling. The 2022 exploration program began with diamond drilling at the Ryan's...
The global transition to low-carbon energy and transportation is both an incredible opportunity and daunting challenge for Alaska's mining sector. On the one hand, Alaska is incredibly enriched with the minerals and metals required to build electric vehicles, solar panels, wind farms, and other clean energy technologies. On the other, America's Last Frontier is burdened by a lack of affordable, low-carbon energy options in the remote reaches of the state where many of these...
Kinross Gold Corp. has finalized the sale of its Kupol Mine and gold exploration properties in Russia's Far East to the Highland Gold Mining group of companies for US$340 million in cash. On June 15, Kinross reported that it has already received $300 million in U.S. denominated cash in its corporate account and will receive a deferred payment of $40 million on the one-year anniversary of closing the sale of all its assets in Russia. Highland Gold Mining had previously agreed...
Cutting 28.9 meters averaging 1.43 grams per metric ton gold in its second hole, Felix Gold Ltd. is off to a strong start at its Treasure Creek project a few miles north of Fairbanks, Alaska. Felix is an Australian mineral exploration company that was founded specifically to explore for gold in the Fairbanks Mining District, which was discovered by the company's namesake, Felix Pedro, in 1902. Early in 2022, Felix entered into a strategic alliance with Millrock Resources Inc....
White Gold Corp. June 13 announced the start of its 2022 diamond drill program targeting both Ryan's Surprise and Ulli's Ridge on the company's expansive and underexplored over 1-million-acre (422,730 hectares) land package in the emerging White Gold District in Yukon, Canada. Much of this year's program will further evaluate targets on the White Gold and Betty Ford properties to follow up on encouraging results encountered during the 2021 exploration, as well as to perform...
Kinross Gold Corp. May 10 reported that its Fort Knox Mine in Alaska produced 54,803 ounces of gold during the first quarter of 2022, which is nearly a 26% drop from the 73,830 oz produced during the previous quarter but only a 2% drop from the 55,815 oz produced during the first quarter of 2021. A drop in gold production during the first quarter at Fort Knox is an annual event that results from the often-subzero temperatures during the coldest winter days affecting gold recov...
Felix Gold Ltd. May 25 announced that it has leased 6,203 acres of gold prospective properties in the Fairbanks Mining District from the Alaska Mental Health Trust Land Office. Lying between Felix' Northeast Fairbanks and Treasure Creek claim packages, this newly leased MHT group of claims lies within 400 meters of the mill at Kinross Gold Corp.'s Fort Knox Mine and roughly 200 meters from the Dolphin deposit on Freegold Ventures Ltd.'s Golden Summit project. Felix says the...
Millrock Resources Inc. May 4 announced that Felix Gold Ltd. has begun drilling on the Treasure Creek gold project north of Fairbanks, Alaska. Early in 2021, Felix entered into an alliance with Millrock on several Interior Alaska gold exploration projects – Treasure Creek and Ester Grant near Fairbanks, plus the Liberty Bell project about 70 miles to the southwest. Earlier this year, Felix completed a A$10 million (U$7.1 million) initial public offering and listed on the A...
Contango ORE Inc. April 9 announced that it has entered into a binding agreement to raise US$20 million through the issuance of debenture, an unsecured loan that can be converted into shares, to fund its commitments at the Manh Choh gold project in eastern Alaska and for exploration and development on its Lucky Shot gold mine properties in the Southcentral region of the state. "With strong fundamentals in the gold market, management is excited to advance our portfolio of...
Kinross Alaska has donated $1 million to support the Troth Yeddha' Indigenous Studies Center, a 34,000-square-foot facility to be built on the University of Alaska Fairbanks campus that will provide a center for Alaska Native programs and support indigenous student success. "This is much more than a building. It is a space and tangible symbol of honoring and valuing Alaska's first people," Kinross Alaska External Affairs Director Anna Atchison said upon announcing the donation...
Kinross Gold Corp. March 29 announced plans to divest all its Russian assets, including its Kupol gold mine. Citing concerns about the destruction and loss of life being caused by Russia's invasion of Ukraine, the gold mining company announced in early March that it had decided to suspend all activities at its gold projects in the Russian Far East. Kinross' Kupol Mine in the Chukotka region of eastern Russia produced 481,108 ounces of gold-equivalent, which includes the value...
Alaska Department of Transportation & Public Facilities March 25 announced that it will perform an independent analysis of the route between the proposed Manh Choh gold mine near the community of Tetlin and Kinross Alaska's mill at the Fort Knox mine north of Fairbanks, Alaska. Peak Gold JV – a partnership between Kinross Gold Corp. (70%) and Contango ORE Inc. (30%) – plans to truck high-grade ore mined at Manh Choh to the Fort Knox mill for processing. Utilizing the pro...
