The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 151 - 175 of 283
As the year winds down, mineral industry evaluations for 2019 are being published at a rapid rate. One of the most interesting such global reviews is EY Global Mining and Metals' annual "risk radar" for mining and metals, outlining what mining companies perceive as the top ten risks facing them in the near future. This publication stated that, for the second straight year, "social license to operate" remains the number one risk facing mining companies in 2020. This was...
Millrock Resources Inc. Nov. 4 reported that all the pieces are falling in place for an early 2020 drill program at West Pogo, one of nine blocks of claims that make up the company's district-scale Goodpaster gold project in Interior Alaska. In mid-October, Australia-based Northern Cobalt Ltd. cut a deal to earn up to a 60 percent interest in the Goodpaster project by investing US$20 million in exploration, plus paying US$200,000 in cash and issuing 38 million in Northern...
An abnormally long fall has allowed the Alaska mining industry to extend seasonal work well into mid-October, creating a lot of new information about project work conducted around the state. Exploration efforts, in particular, benefitted from this additional field time. Based on information available to date, 2019 exploration expenditures are expected to be in the $135-140 million range, well ahead of the $120-125 million exploration spending tracked for 2018. In addition,...
Northway Resources Corp. Oct. 21 reported that gold mineralization was encountered in all 10 reconnaissance holes completed during a maiden drill program carried out this year at the Healy project in Alaska's Goodpaster Mining District. Northway is a new mineral exploration company that completed an initial public offering and listing on the TSX Venture Exchange in August. At about the same time as the IPO, Northway began a maiden drill program at Healy, a discovery stage...
Australia-based Northern Cobalt Ltd. has agreed to invest as much as US$20 million over the next four years to earn up to a 60 percent interest in Millrock Resources Inc.'s enormous land package covering highly prospective gold targets in Alaska's Goodpaster Mining District. Goodpaster has gained a lot of attention since Northern Star Resources Ltd.'s 2018 purchase of the Pogo gold mine at the heart of the district. While it has been just over a year since the acquisition,...
Millrock Resources Inc. Oct. 9 reported that the results from its recently completed geophysical program has identified a compelling drill target on the company's West Pogo property in Alaska's Goodpaster Mining District. The company completed 13 kilometers (eight miles) of controlled-source audio-frequency magnetotellurics (CSAMT) geophysical surveys at West Pogo. This is the same geophysical technique used to identify buried structures that commonly host gold veins on the No...
Millrock Resources Inc. Oct. 1 said it is investing the C$1.58 million it recently raised to position the company and its properties for expected improving markets for gold-focused exploration companies. "The moves Millrock has made over the past three months has positioned the company well for what appears to be a coming bull market in precious metals," said Millrock Resources President and CEO Greg Beischer. "We have developed an enviable gold project portfolio that is...
If you have watched the metals markets over the last month, you know why Alaska's mineral industry has surged, stalled, swerved, swooped, slowed, shelved and stuttered, sometimes all at the same time! Gold has gone above US$1,500 per ounce; copper pundits are predicting an increasingly dour future; zinc markets are looking to dive below $1.00 per pound; tin markets have marched strongly upward due to supply disruptions; and silver bulls are calling for annual worldwide...
With the success of mining optimization at Pogo and drills confirming another major gold zone on the property, Northern Star Resources Ltd. has decided to invest US$30 million (A$43 million) into upgrades of the Pogo processing plant that will increase the annual throughput capacity by 30 percent. These upgrades are a follow-up to the investments the Aussie miner has already made into improving underground production at the Interior Alaska gold mine, including roughly US$35...
As the rest of the country suffers through the Dog Days of summer, Alaska is approaching the end of a topsy-turvy summer season that saw unseasonably hot, dry weather in some parts of the state during some parts of the summer, while other parts of the state have seen record rainfall and unseasonably early snowfall. Gold prices have skyrocketed over the $1,500 per ounce mark and silver prices have moved strongly up, now trading at a one-year high. However, copper and zinc are a...
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...
Millrock Resources Inc. July 29 announced that it has raised C$1 million to help fund exploration of its West Pogo gold project in the Goodpaster Mining District, as well as generate new properties and seek out partners to fund further exploration in Alaska. As a project generating mineral exploration company, Millrock has long been bullish on the potential of the Goodpaster, a gold mining district about 100 miles east of Fairbanks that hosts Northern Star Resource Ltd.'s...
Thanks to improving gold output and lower costs at its Pogo gold mine in Alaska, Northern Star Resources Ltd. sold 232,042 ounces of gold during the final quarter of its fiscal year 2019, a record for the Australian gold miner. During the three months ending June 30, Northern Star sold 48,009 oz of gold produced at Pogo, which is a 33 percent increase over the previous quarter. The Perth-based miner expects gold output at Pogo to continue its upward trend. "Pogo is on track...
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...
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...
Twenty years ago, Canada created the territory of Nunavut, carving out the easternmost part of the Northwest Territories to form the country's northernmost jurisdiction. A vast land of lakes and tundra sprawled across the North from the Hudson Bay to the Arctic Ocean and east to Baffin Bay and the coastal waters of Greenland, Nunavut is home to only about 38,000 people, of whom 85 percent are indigenous Inuit who have lived in this frozen land for millennia. Since 1999,...
When it comes to mineral exploration incentives, currency exchange and infrastructure, Alaska is at a disadvantage in the realm of attracting exploration investments from Canada and Australia, countries that are home to the majority of mining companies. The Far North State's vast and underexplored mineral potential, however, trumps these handicaps in the minds of a growing number of miners and mineral explorers. Mining executives from around the globe perennially rank Alaska...
Though mineral exploration in Yukon Territory this year lagged the pace seen in 2018, mine development projects advanced at a steady clip in 2019, while several past-producing mines moved toward resuming output. Yukon ranked fourth in Canada for projected spending on mineral exploration and deposit evaluation for 2018, according to statistics distributed by Natural Resources Canada. Spending for mineral exploration and deposit evaluations totaled C$249.4 million, made up of C$...
Whether it be precious metals such as gold and silver, base metals like copper and zinc, or battery metals like nickel and cobalt, northern British Columbia is rich in the type of metal deposits that junior mining companies are hoping to discover and majors are wanting to mine. Couple this mineral endowment with good infrastructure – especially stacked up against the other jurisdictions in the North of 60 Mining News coverage area – and northern B.C. continues to draw str...
The Goodpaster Mining District in Interior Alaska adds credence to the sourdough mining adage "gold is where you find it." Unlike the 8.3 million ounces of placer gold recovered from the Fairbanks Mining District to the west, 1.2 million oz from the Circle Mining District to the northwest or 20 million oz from Yukon's Klondike District to the east, the Goodpaster Mining District has thrown off a paltry 2,050 oz of placer aurum. Yet, Northern Star Resources Ltd.'s Pogo Mine in...
Since its founding in 2010, Northern Star Resources Ltd. has built a multi-billion-dollar mining company by breathing new life into aging underground gold mines in Australia. Now, the Perth-based company is applying the same strategy that has proven so successful at home to its newly acquired Pogo gold mine in Interior Alaska. This strategy includes making large investments into the exploration, underground mine development and equipment needed to turn Pogo into a tier-one ass...
EMX Royalty Corp., a company that has found success in generating royalties through low-cost property acquisition and early-stage exploration, nabbed significant royalties on properties in Alaska's Goodpaster Mining District. EMX nabbed a foothold in this district that hosts Pogo, a high-grade underground gold mine owned by Northern Star Resources Ltd., when it invested C$1 million to acquire 7.14 million shares of Millrock Resources Inc. early this year. Prior to the EMX...
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...
Primarily focused on gold, copper and silver, Millrock Resources Inc. is a project generating mineral exploration company that has built a large portfolio of highly prospective mineral exploration properties in Alaska, British Columbia and Mexico. Many of the projects the company has generated have been sold recently to other companies in exchange for cash and shares of the company acquiring and exploring the project. For 2019, Millrock focused largely on amassing a large...
