The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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Lundin Mining Corp. has agreed to invest AU$4.3 million (US$3 million) to acquire 14.3 percent of PolarX Ltd. shares, a deal that gives the Canada-based miner an option to earn a 51 percent interest in the Australia-based junior's Stellar copper-gold project in Alaska. Lundin Mining is a global base metals miner with copper, nickel and zinc operations in Chile, United States, Portugal and Sweden. The Toronto, Ontario-based miner also holds a 24 percent stake in the Freeport...
In the famous words of Sherlock Holmes, the game is afoot! After seasonally slower news from Alaska's mining industry in March and April, the dam has broken with over two dozen Alaska mining project news releases issued in the last month. Including those projects moving forward that have not released their 2019 plans, Alaska has become a very busy place under the sun. All of our major metal mines reported strong performances in the first quarter, several of Alaska's most...
When it comes to managing its more than 1.5 million acres of land in a region of Southcentral Alaska renowned for its natural beauty, Copper River salmon, abundant wildlife and one of the richest lodes of copper to ever by mined on earth, Ahtna Inc. balances development for the prosperity of its current shareholders and preservation of resources for future generations. An important facet of this management is ensuring that there are plenty of plants, fish and wildlife to suppo...
With at least five companies investing heavily in securing ground, acquiring royalties and drilling at and around the Pogo Mine, Goodpaster Mining District has emerged as the hottest destination for gold exploration in Alaska during 2019. The US$30 million to US$40 million Australia-based Northern Star Resources Ltd. is investing in exploration at its newly acquired Pogo Mine alone would be enough to make Goodpaster the most explored district in Alaska this year. "We've got 12...
Millrock Resources Inc. April 24 reported that it has staked a large block of claims adjacent to Northern Star Resources Pogo gold mine property in Interior Alaska and has attracted funds to explore Millrock's expanded land package in the Goodpaster Mining District. "We believe that the Goodpaster District will ultimately prove to be a gold mining camp of significant stature. The area has seen very little exploration despite the obvious potential and proximity to...
PolarX Ltd. March 25 announced that 3D modelling of magnetic data collected last year provides further evidence of a large porphyry copper-gold target at Saturn, an Alaska Range prospect previously known as Zackly SE due to its proximity to a high-grade skarn deposit on the Australian company's property. PolarX began its exploration at Alaska Range with expansion drilling at the known Zackly skarn, which hosts 3.4 million metric tons of inferred resource averaging 1.2 percent...
StrikePoint Gold Inc. March 20 announced it has entered into a definitive agreement to acquire Willoughby, a gold-silver project about 30 kilometers (19 miles) east of Stewart, from ArcWest Exploration Inc. An intrusion related gold-silver project with similarities to IDM Mining Ltd.'s Red Mountain Mine project about seven kilometers (four miles) to the west, Willoughby is the second Golden Triangle property StrikePoint added to its portfolio in as many years. The other,...
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...
StrikePoint Gold Inc. Jan. 16 announced that it has signed a letter of intent to acquire Willoughby, a gold-silver exploration project about 30 kilometers (19 miles) east of Stewart, from Sojourn Exploration Inc. Willoughby is an intrusion related gold-silver project with similarities to IDM Mining Ltd.'s Red Mountain Mine project about seven kilometers (four miles) to the west. Red Mountain, which recently received regulatory approvals to develop an underground mine, hosts...
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...
PolarX Ltd. Nov. 12 reported strong copper-gold results from another hole drilled in an area about 850 meters east of the Zackly skarn deposit that is emerging as a potential open pit mine on the Australian company's Alaska Range project. This hole, ZX‐18021, cut 20.2 meters averaging 0.3 percent copper, 1.1 grams per metric ton gold and 5.3 g/t silver. While not the highest grade or thickest intercept encountered this year, its proximity to holes that meet that criteria a...
PolarX Ltd. Nov. 5 said a high‐resolution aeromagnetic geophysical survey flown this fall over most of the Stellar property, part of the Australian explorer's Alaska Range project, clearly shows the signature of a significant copper‐gold porphyry target at the Zackly SE prospect. Collecting magnetic data on 50-meter line spacing at an average height of 33 meters above the ground, the helicopter-flown survey provided details of a 7.5-mile (12 kilometers) long structural cor...
Sojourn Exploration Inc. Nov. 2 provided preliminary results of reconnaissance mapping, sampling and geophysical surveys on four of its porphyry copper-gold projects in British Columbia, including the Todd Creek and Oweegee Dome projects in the province's prolific Golden Triangle. Sojourn acquired Todd Creek, Oweegee Dome and Willoughby, a third Golden Triangle exploration property, from Millrock Resources Inc. "Sojourn's Todd Creek and Oweegee Dome projects are within...
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...
PolarX Ltd. Sept. 20 announced that it has encountered deeper high-grade gold-copper-silver mineralization east of the Zackly skarn deposit on the Australian explorer's Alaska Range Project. In March, PolarX reported an Australian Joint Ore Reserves Committee- (JORC) compliant inferred resource for Zackly of 3.4 million metric tons of inferred resource grading 1.2 percent (90.4 million pounds) copper, 2 grams per metric ton (213,000 oz) gold and 14 g/t (1.5 million oz)...
With the completion of a C$2.8 million financing, along with the closing of property acquisition agreements with Millrock Resources Inc. and Seven Devils Exploration Ltd., Sojourn Exploration Inc. has all the pieces in place to be a significant new prospect generator in British Columbia's Golden Triangle. The three-way deal brings together three highly prospective copper-gold properties generated by Millrock, another four properties and the exploration talent of privately...
PolarX Ltd. reported additional high-grade gold-copper mineralization well outside the resource boundary at the Zackly skarn deposit on the Australian explorer's Alaska Range Project. The Zackly deposit hosts 3.4 million metric tons of inferred resource grading 1.2 percent (90.4 million pounds) copper, 2 grams per metric ton (213,000 oz) gold and 14 g/t (1.5 million oz) silver, according to a resource calculation completed early this year. With the goal of expanding this...
PolarX Ltd. Aug. 15 reported that assay results confirm the outstanding copper-gold mineralization observed in the core from hole ZX-18020, a hole drilled some 850 meters east of the current resource at the Zackly deposit on the company's Alaska Range project. Starting at a depth of 2.5 meters, this hole cut 54.6 meters averaging 2.8 grams per metric ton gold, 9.4 g/t silver and 0.6 percent copper, including a 0.3-meter (one foot) section from 56.7 meters averaging 27.3...
Millrock Resources Inc. Aug. 9 announced it has sold its three gold-copper exploration projects in the Golden Triangle region of northwestern British Columbia – Oweegee Dome, Willoughby and Todd Creek – to Sojourn Exploration Inc. Previous option agreements under which Sojourn was to earn an interest in two of the properties – Oweegee Dome and Willoughby – have been terminated. Instead, Sojourn will issue Millrock 7.82 million shares to buy the properties outright, which w...
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...
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...
PolarX Ltd. has put together an 85,750-acre (347 square miles) land package just off Alaska's road system that already hosts deposits rich in copper and gold yet remains vastly under-explored. This 22-mile- (35 kilometers) long property, known as Alaska Range, is made up of two adjacent projects – Stellar and Caribou Dome – the Australia-based exploration company brought together in 2017. Stellar, currently the primary focus of PolarX's exploration, already boasts 90.4 mil...
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...
Nova Minerals Ltd. (formerly Quantum Resources Ltd.) completed an inaugural drill program in 2018 at its newly acquired Estelle gold-copper-silver project about 100 miles northwest of Anchorage, Alaska. The Australia-based explorer optioned Estelle late in 2017 as part of a larger deal that included four other Southwest Alaska properties – Chip-Loy, a nickel-copper-cobalt-gold-silver-platinum group element project; Bowser Creek silver-zinc-lead project; Windy Fork, a rare e...
