The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 51 - 75 of 108
Explorers seeking new mineral discoveries in the Northwest Territories are expected to spend less in 2018 than the C$90 million they shelled out collectively last year. Natural Resources Canada projects spending this year for mineral exploration and deposit appraisals in the northern territory will total C$81.3 million. But some observers expect to see an uptick in hardrock mining exploration in 2018, especially in the highly prospective Slave Province where the Northwest...
North Arrow Minerals Inc. May 13 announced it has begun the engineering and cost analysis for a small-scale mobile diamond recovery plant to process bulk samples from its Naujaat project about nine kilometers (5.6 miles) from the coastal community of Naujaat, Nunavut. The property hosts at least eight kimberlite pipes. Q1-4 kimberlite is the largest and richest of the kimberlites discovered so and has been the focus of North Arrow's work since acquiring Naujaat (then known as...
Northwest Territories may fall behind Canada's two other territories in mining activity in the near-future, but projects underway in the northern jurisdiction hold substantial promise for mid- to long-term gains, especially if many current roadblocks come down. "Optimism is warranted for the territory's mining sector and the broader economy it drives," said Wally Schumann, minister of industry, tourism and investment for the Government of Northwest Territories. But...
Constantine Metal Resources Ltd. May 1 said it intends to raise C$10 million through a non-brokered private placement that will include a major strategic investment from Electrum Strategic Opportunities Fund II L.P., an investment fund managed by The Electrum Group LLC. Altius Minerals Corp. and John Tognetti, a major shareholder and Constantine Metal insider, are also slated to participate in the financing. "We welcome the Electrum 'family' as a major shareholder, who we...
North Arrow Minerals Inc. April 5 announced the discovery of a new kimberlite during a 607-meter drill program carried out this winter at the company's Loki diamond project in the Lac de Gras region of Northwest Territories. Roughly 19 miles (30 kilometers) southwest of the Ekati Mine and 15 miles (24 kilometers) west of the Diavik Mine, Loki is found in a region known for its rich diamond deposits. North Arrow narrowed down the drill targets at Loki with surface sampling...
North Arrow Minerals Inc. March 5 announced the start of 2018 exploration drilling at Loki, a diamond project in the Lac de Gras region of Northwest Territories. Roughly 30 kilometers southwest of the Ekati Mine and 24 kilometers west of the Diavik Mine, Loki is found in a region known for its rich diamond deposits. "Clearly, a very good place to be to make new discoveries and the discoveries we do make have a very good chance of being diamondiferous," said North Arrow Preside...
North Arrow Minerals Inc. Feb. 28 reported the recovery of 64.25 carats of commercial sized (larger than 1 millimeter) diamonds from a 209.8-metric-ton mini-bulk sample collected from the Q1-4 kimberlite at the Naujaat project in Nunavut. The three largest recovered diamonds from the sample are 5.25, 2.09 and 1.06 carats. Yellow diamonds, representing a range of hues and tones, made up 10.7 percent of the diamonds recovered by stone count and 21.2 percent by carat weight....
North Arrow Minerals Inc. Jan. 22 reported that it has significantly expanded its Mel property in Nunavut to encompass a new diamond-bearing kimberlite field it discovered last year. During its 2017 exploration at Mel, North Arrow discovered ML-8 kimberlite near the up-ice termination of a well-defined kimberlite indicator mineral (KIM) train in the northern part of the project area. A 62.1-kilogram sample of this kimberlite returned 23 diamonds larger than the...
North Arrow Minerals Inc. is exploring seven diamond projects in Canada – Naujaat, Mel and Luxx in Nunavut; Lac de Gras (LDG) and Loki in Northwest Territories; Pikoo in Saskatchewan; and Timiskaming in Ontario. Much of North Arrow's 2019 work focused on Naujaat, the company's most advanced property. In May, the company announced the start of engineering and cost analysis for a small-scale mobile diamond recovery plant to process bulk samples from Q1-4, one of at least e...
Canada is the world's top destination for mining exploration spending, attracting more than 14 percent of global budgeted expenditures from explorers seeking to tap the country's vast mineral wealth. Yet in 2017, the three huge mineral-rich territories to the north, Nunavut, Northwest Territories and Yukon Territory, lured only about C$360 million, or less than one-fifth of the roughly $2.1 billion that junior and senior mining companies invested in mineral exploration and dep...
Since investing roughly US$70 million to acquire a 28 percent stake in Novagold Resources Inc. in 2009, American billionaire Thomas Kaplan and his Electrum Group of companies have taken a keen interest in some of the more intriguing mineral exploration companies and projects in Alaska and across Canada's North. Kaplan, an Oxford-educated historian that began investing in natural resources in the 1980s, knows that gold has served as a currency throughout mankind's written histo...
The Washington Companies, a group of privately held North American mining, industrial and transportation businesses founded by industrialist and entrepreneur Dennis Washington, acquired Dominion Diamond Corp. in a deal worth US$1.2 billion. "We look forward to owning and operating Dominion for decades to come, with a focus on maintaining safe and prosperous business operations in the Northwest Territories," said Washington. When the deal closed, Patrick Evans, who previously...
North Arrow Minerals Inc. is focused on the identification and evaluation of its seven diamond projects in Canada – Naujaat, Mel and Luxx in Nunavut; Lac de Gras and Loki in Northwest Territories; Pikoo in Saskatchewan; and Timiskaming in Ontario. In February, the company reported the recovery of 64.25 carats of commercial sized diamonds from a 209.8-metric-ton mini-bulk sample collected from the Q1-4 kimberlite at Naujaat. The three largest diamonds from the sample are 5.25,...
North Arrow Minerals Inc. has seven diamond exploration projects in Canada - Qilalugaq, Mel and Luxx in Nunavut; Lac de Gras and Redemption in Northwest Territories; Pikoo in Saskatchewan; and Timiskaming in Ontario. In March, North Arrow launched a 28-hole (1,577 meters) drill program at Redemption, a diamond project located in the Lac de Gras district of NWT about 32 kilometers (20 miles) southwest of the Ekati Mine. This program, which targeted geophysical anomalies within the central part of the property, did not...
While most mining jurisdictions have seen sharp drops in mineral exploration spending, such investments in Northwest Territories has largely held steady at about C$100 million annually during the past five years. As a result, this diamond-rich territory accounted for roughly 7 percent of mineral exploration spending in Canada in 2016, compared with only about 2 percent in 2011. The ultimate measure of mineral exploration success is not the amount of exploration dollars spent...
Endowed with some of the largest undeveloped mineral belts in the world, investment in public geoscience has shown the potential of Nunavut. The 2 million square kilometers (772,000 square miles) of the territory is geologically diverse and offers the potential for many commodities, including gold, diamonds, uranium, iron, base metals, nickel and platinum, making it an attractive destination for exploration. Although many new discoveries are yet to be made, existing mineral...
Nunavut is a vast and minerals-rich swath of the Earth's crust and Nunavummiut, or the people who live there, see mining as the foundation of the territory's future. "The mining industry brings employment and career opportunities for residents of Nunavut and provides much-needed economic benefits to families where the cost of living is high," said Nunavut Minister of Economic Development and Transportation Monica Ell-Kanayuk. To create the conditions for a strong mining...
North Arrow Minerals Inc. has seven diamond exploration projects in Canada - Naujaat (formerly Qilalugaq), Mel and Luxx in Nunavut; Lac de Gras and Loki in Northwest Territories; Pikoo in Saskatchewan; and Timiskaming in Ontario. The company started 2017 by cutting a deal to acquire Stornoway Diamond Corp.'s interests in Naujaat and Pikoo, which gives North Arrow full ownership of both projects. The company followed up this transaction with a C$5 million private placement,...
With the opening of Gahcho Kué, Northwest Territories is reaping the rewards of past exploration spending across the vast diamond-rich expanse of northern Canada. In fact, the new diamond mine is expected to contribute some C$5.7 billion to Northwest Territories economy by 2028, the end of its currently projected life, according to a report commissioned by De Beers Group of Companies. Northwest Territories Minister of Industry, Tourism and Investment Wally Schumann...
North Arrow Minerals Inc. Jan. 17 said it has agreed to acquire Stornoway Diamond Corp.'s interests in Qilalugaq and Pikoo, which will give North Arrow full ownership of both northern Canada diamond projects. Under terms of the agreement, North Arrow will acquire Stornoway's roughly 18 percent interest in the Qilalugaq project in Nunavut and 15 percent interest in the Pikoo project in Saskatchewan in exchange for 2 million North Arrow common shares. Stornoway will retain 0.5 percent and 1 percent gross overriding royalties...
North Arrow Minerals Inc. May 18 announced the closing of a C$5 million non-brokered private placement that involved the issuance of 20 million units at C25 cents each. Each unit consists of one North Arrow share and a warrant that entitles the holder to buy another share at C40 cents until May 18, 2020. As part of the private placement, Electrum Strategic Opportunities Fund L.P. and Ross Beaty have each made a C$2 million investment and each will own 19.01 percent of North Arrow's outstanding shares, assuming the exercise...
North Arrow Minerals Inc. June 28 announced the start of a C$3.2M exploration program at its Naujaat (formerly Qilalugaq) and Mel diamond projects in Nunavut. This work includes 4,500-meter drill program better delineate the kimberlite Q1-4 kimberlite at the Nujaat project, which is about nine kilometers (5.6 miles) from the Hamlet of Naujaat (Repulse Bay). Testing the area of the kimberlite from 200 to 300 meters below surface is the primary target for this program. "We are pleased that drilling is underway at the Naujaat pr...
North Arrow Minerals Inc. July 24 reported the collection of a 234-metric-ton mini-bulk sample from the Q1-4 kimberlite at its Naujaat (formerly Qilalugaq) diamond project in Nunavut. With the Q1-4 kimberlite lying beneath a 0.5- to 1-meter layer of glacial till, this sample could be collected with a mini-excavator. Initial evaluation of the exposed kimberlite identified a north trending internal contact between distinct kimberlite phases. Kimberlite to the west of the contact...
North Arrow Minerals Inc. announced the discovery of diamonds at its Mel project in Nunavut. A 62.1 kilogram sample of the ML-8 kimberlite at Mel returned 23 diamonds larger than the 0.106 millimeter sieve size, including a single, colo6less diamond larger than the 0.85 mm. The ML-8 kimberlite discovery is coincident with an identified airborne magnetic geophysical anomaly that straddles the northern shoreline of a small lake on the property. North Arrow said a number of additional geophysical targets, coincident with...
North Arrow Minerals Inc. Sep. 12 announced the completion of the summer drilling and mini-bulk sampling program of the Q1-4 kimberlite at the company's Naujaat diamond project in Nunavut. Q1-4 hosts 48.8 million metric tons of inferred resource averaging 0.54 carats per ton (26.1 million carats) of diamonds from surface to a depth of 2015 meters. The C$2 million summer program included 3,469 meters of drilling completed in 11 holes and the collection of a 234 metric ton...
