The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 26 - 50 of 51
Yukon Territory, a mineral exploration frontrunner in Canada's North, is witnessing a significant slowdown in 2019. As a result, growth in Yukon's economy is expected to slow this year but rebound in 2020, according to The Conference Board of Canada. In its "Territorial Outlook Economic Forecast: Summer 2019," released in June, the board said new mines coming online in 2020 will drive Yukon's growth in the near future. Several factors, however, have converged to put the...
Northway Resources Corp., a new company with two gold exploration properties in Alaska, Aug. 26 announced the completion of an initial public offering and listing on the TSX Venture Exchange. "We are very excited about closing this transaction and being listed as a new public company on the TSXV," said Northway Resources President and CEO Zach Flood. "Northway Resources was founded last year with the primary focus to explore for gold in Alaska." Northway is currently focused...
GT Gold Corp. Aug. 12 announced that Paul Harbidge, former senior vice president of exploration for Goldcorp Inc., will be taking over as the president and CEO of GT Gold on Sept. 3. Harbidge's former company merged with Newmont in April and in May Newmont Goldcorp invested C$17.6 million to acquire a 9.9 percent stake in GT Gold shares. Funds from this investment are being used to expand Saddle North, a large porphyry gold-copper target on the Tatogga property in British...
Thanks to the start-up of new mines, The Conference Board of Canada forecasts the economies of Canada's territories to grow significantly over the next two years. In Territorial Outlook Economic Forecast: Summer 2019, The Conference Board of Canada foresees the combined economies of Nunavut, Northwest Territories and Yukon expanding by 5.3 percent in 2019 and 4.4 percent in 2020. "Territorial economies are being positively impacted by new mines that are propelling growth in...
Contango ORE Inc. June 11 announced that the sales process for the Peak Gold joint venture has concluded without identifying a buyer for the partnership that owns the high-grade Peak Gold project in Interior Alaska. Two adjacent skarn deposits at Peak Gold – Main Peak and North Peak – host 9.2 million metric tons of measured and indicated resources averaging 4.08 grams per metric ton (1.21 million ounces) gold and 14.19 g/t (4.2 million oz) silver. A preliminary economic ass...
GT Gold Corp. May 20 announced plans for a 10,000-meter initial phase of 2019 drilling primarily focused on the Saddle North gold-copper target on its Tatogga property in British Columbia's Golden Triangle. Last year's discovery program at Saddle North involved roughly 8,200 meters of drilling in 10 holes. Highlights from the 2018 drilling include: • 822.2 meters of 0.42 grams per metric ton gold, 0.26 percent copper and 0.62 g/t silver in TTD085; • 904.1 meters of 0.51 g/t...
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...
Tectonic Metals Inc. plans to leverage Alaska's underexplored gold potential to create "the number one mineral exploration company in the world." While this is a lofty goal, Tectonic Metals is led by an executive team that is renowned for the mineral exploration, mining and business skills required to achieve the company's vision. Tony Reda, former vice president of corporate development of Kaminak Gold Corp., is the president and CEO of Tectonic Metals. He is joined by Eira T...
GT Gold Corp. May 9 announced that Newmont Goldcorp Corporation has agreed to invest C$17.6 million into an upcoming financing, a strategic investment that will accelerate the exploration and development of the Saddle North and Saddle South targets on GT Gold's Tatogga property in northwestern British Columbia. "Newmont Goldcorp's investment is a significant milestone for GT Gold and represents a strong endorsement of our Tatogga property and recognizes the area's appeal as a...
Since its formation in 1999, Seabridge Gold Inc. has amassed very large gold resources and reserves while keeping a watchful eye on the number of shares it has issued. In its 2018 annual report, this Toronto-based exploration company said this has positioned the company well in a world of dwindling gold reserves. "The simple truth is that the industry is not finding gold at the rate it needs to. We are," Seabridge Gold Chairman and CEO Rudi Fronk penned in the report. Over...
With 12.5 million acres of land spanning Alaska's Interior, Doyon Ltd. is the largest private landholder in the state and one of the largest in the nation. For mining and mineral exploration companies, the rich mineral potential of these lands may be more impressive than the sheer size of the estate. This is because the Doyon region is a nearly Texas-sized swath of Interior Alaska that is renowned for its gold and a host of other metals, providing the regional corporation,...
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...
Following last year's merger with Randgold Resources, Barrick Gold Corp. has now made an offer to acquire Newmont Mining Corp., a deal that would merge the world's two largest gold mining companies into a behemoth valued at around US$42 billion based on the current market capitalization of the two gold producers. The combined company would also have 141 million ounces of gold in reserves and 275 million oz in resources. "The combination of Barrick and Newmont will create what...
Goldstrike Resources Ltd. Jan. 24 reported that Newmont Mining Corp. has ended its option to earn an interest in Goldstrike's Plateau gold property in the Yukon. Under an agreement struck with Goldstrike early in 2017, Newmont had the option to earn up to a 75 percent stake in Plateau by making cash payments to Goldstrike, investing in exploration at Plateau and completing a feasibility study for the gold project. Over the first two years of the option, Newmont invested...
Will the new Barrick Gold Corp. sell its 50 percent stake in the Donlin Gold project? This is the question on the minds of many Donlin Gold stakeholders and Novagold Resources Inc. shareholders following Barrick Gold's merger with Randgold Resources Ltd. Currently, Barrick and Novagold are 50-50 co-owners of Donlin Gold, a 39-million-ounce gold project in the Yukon-Kuskokwim region of Southwest Alaska. While the size of this deposit is definitely world-class and the resource...
Newmont Mining Corp. and Goldcorp Inc. are joining forces to create the largest gold mining company on Earth. This deal will also bring two exciting gold projects in the Yukon, Goldcorp's Coffee Gold Mine project and Newmont's Plateau exploration project, into one portfolio. On Jan. 14 the two gold majors announced they have entered into a definitive agreement in which Newmont will acquire all outstanding Goldcorp common shares in an all-stocks deal valued at US$10 billion. Un...
Welcome to the 10th anniversary of Mining Explorers! While there have been tectonic shifts in the mineral exploration markets over the past decade, two things have remained rock solid – mining explorers continue to uncover the vast mineral resources across Alaska and Canada's North and North of 60 Mining News has been here to tell their story. With the price for an ounce of gold pushing above US$1,300 to ring in the new year – along with zinc and copper selling at mul...
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...
The proposed combination of Newmont Mining Corp. and Goldcorp Inc. has raised questions about the future of the companies' gold assets in the Yukon and investments in other junior mining companies across Canada's North. Two of the gold projects in the proposed Newmont Goldcorp pipeline are found in the Yukon – Plateau, a large property being explored by Newmont, and Coffee, a project that is nearing the mine development stage. Knowing that the combined gold miner plans to shed...
Goldcorp Inc.’s half-a-billion-dollar purchase of Kaminak Gold Corp. and the Coffee Gold project in Yukon Territory in 2016 marked a major shift for North of 60 mining explorers. Junior mining explorers typically look to the investment community for the venture capital needed to discover rich deposits of minerals. In turn, major mining companies come along and buy the mineral-rich project or the company that discovered it, typically providing a handsome return for the j...
As some of the world's biggest gold miners nab exciting plays that turned up across Yukon Territory during the past decade, Yukon's mining explorers continue to seek the next generation of mine projects in the northwestern-most Canadian territory. Many of the up and coming mines in Yukon also are getting a boost from C$360 million in upgrades to roads into some of Yukon's richest mining districts. Known as the Yukon Resource Gateway project, the endeavor to modernize...
Following up on the discoveries made during a C$1 billion exploration explosion in the Yukon from 2007 until 2013, five of the world's largest gold producers are leading a second wave of the 21st Century Yukon Gold Rush. Kinross Gold Corp., which operates the Fort Knox Mine in neighboring Alaska, was the first of the majors to grab a foothold in the Yukon when it acquired the White Gold property in 2009. The real rush of majors to the westernmost Canada territory, however,...
With winter programs winding down and summer efforts rapidly ramping up, it is becoming clear that 2017 will be a much more vigorous year for the Alaska mining industry than the 2013 to 2016 period. For example, my internal estimates are already pushing $75 million for exploration activity alone and a significant number of projects that have announced exploration plans have not yet announced budgets for 2017, so that number is likely to rise. Compare this to estimates of less...
Sparked by the discovery of the White Gold district and fueled by investors' appetite for mining stocks, the Yukon experienced a modern era gold rush in 2007 that included nearly C$1 billion of exploration spending during over six years. This frenzied exploration turned up dozens of gold projects across the northern territory and now some of the world's biggest gold miners are cutting deals on the best of the discoveries made. Kinross Gold Corp. was the first of the major...
The world's mining industry has once again transmogrified itself in the face of changing global metals markets and investor expectations. In a recent Reuters report, several companies, including Newmont Mining Corp., Goldcorp Inc. and Yamana Gold Inc., were singled out as having taken steps to bring smaller, leaner, lower output projects into production to avoid the cost over-runs which have plagued the large multibillion-dollar projects in recent years. The same large mine...
