The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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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...
Northern Star Resources Ltd. April 24 reported that the Australian company's investment in Pogo has resulted in reaching turnaround point for the Alaska gold mine. During the three months ending March 31, the Pogo Mine produced 33,381 ounces of gold from 190,868 metric tons of ore averaging 6.1 grams per metric ton gold. This is down 33 percent from the 50,106 oz of gold produced during the final quarter of 2018. This lower quarterly gold production is the result of both...
In less than a decade, 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. Shaun McLoughney, Northern Star's general manager at Pogo, however, cautions that the changes necessary to the long-term success of the underground gold...
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...
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...
When Northern Star Resources Ltd. acquired the Pogo Mine, the Perth-based miner believed it could apply its underground mining experience in Australia to increasing high-grade gold resource and boosting production at its new Alaska asset. Five months into its official ownership of Pogo, Northern Star's exploration is generating outstanding results which are oft exceeding the company's already high expectations. "Pogo is fast turning out to be everything we expected and more,"...
IDM Mining Ltd. Jan. 6 reported high-grade gold-silver was encountered during the 2018 trenching of the Randell Vein in the Lost Valley area of its Red Mountain property near Stewart, British Columbia. Situated about 4,000 meters south of the underground gold-silver resource at Red Mountain, the mineralization encountered at Lost Valley is similar in structure and geochemistry to the ore being mined at the Pogo underground gold mine in Alaska. Since 2014, 713 samples,...
Northern Star Resources Ltd. Jan. 23 reported that it produced 59,219 ounces of gold at Pogo during the Australian company's first three months of ownership of the underground Alaska mine. Since taking over the operations of Pogo at the end of September, Northern Star has focused on ramping up mill throughput. The Perth-based miner said it is already recording strong productivity gains at the mine, with a 22 percent increase in mined tonnages and a 33 percent rise in mill thro...
Through a combination of management cutting deals at the negotiating table and drills cutting gold-silver across an expanding property in British Columbia's Golden Triangle, Ascot Resources Ltd. has substantially increased the high-grade resource available to feed the mill at its Premier gold-silver mine project just outside of Stewart, B.C. "Management worked hard to develop a series of resources in 2018 and I am very pleased to announce a significant increase to our...
Members of the Kaminak Gold Corp. executive team have reunited to form Tectonic Metals Corp., a private exploration company that has acquired three overlooked gold exploration properties in Alaska's Eastern Interior. While with Kaminak, this team advanced the Coffee project in the Yukon from a grassroots discovery to a roughly 5-million-ounce gold mine project that Goldcorp Inc. acquired in 2017 for C$520 million. Cashing in on Coffee, several of the Kaminak executives moved...
Ascot Resources Ltd. Oct. 29 announced it has completed the acquisition of Silver Coin, an advanced stage, gold-silver property immediately adjacent to Ascot's Big Missouri project and five kilometers (about three miles) from the Premier mill in northwestern British Columbia. The high-grade core of Silver Coin hosts 702,000 metric tons of indicated resource grading 4.46 grams per metric ton (100,660 ounces) gold and 967,000 metric tons of inferred resource grading 4.39 g/t...
As Alaska's mining industry nears the end of another hectic year during which metals prices and investor sentiments rose and fell as precipitously as the world's major stock exchanges, the industry is naturally looking into its crystal ball trying to anticipate what the new year will bring. EY Global Mining and Metals does this sort of forecasting by putting out an annual "risk radar" for mining and metals. The idea is to find out what the industry perceives as the top ten...
Less than a month after closing a deal to acquire Pogo, Northern Star Resources Ltd. has published an Australian Joint Ore Reserves Committee- (JORC) compliant resource for this high-grade underground gold mine in Interior Alaska. According to the new calculation, Pogo hosts 8.8 million metric tons averaging 14.7 grams per metric ton (4.15 million ounces) gold. This includes 3.3 million metric tons of indicated resource averaging 15.7 g/t (1.67 million oz) gold; and 5.48...
Northern Star Resources Ltd. Oct. 1 announced that it has closed the deal to buy the Pogo gold mine in Interior Alaska. The mid-tier Australian gold producer paid US$260 million to buy this high-grade underground operation from a joint venture between Japanese firms Sumitomo Metal Mining Company (85 percent) and Sumitomo Corp. (15 percent). "On behalf of Northern Star, I would like to thank Sumitomo for their assistance and the outstanding condition in which they have left the...
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...
Thanks to its own rich mineral endowment, Australia is a juggernaut in the world of mining, especially across the Southern Hemisphere. Over the past couple of years, however, a growing number of Aussie mining companies are looking north to Alaska, another minerals-rich land way north of the Equator. At least four Aussie juniors – White Rock Minerals Ltd., PolarX Ltd., Nova Minerals Ltd. and Riversgold Ltd. – and three Australia-based metals producers – South32 Ltd., North...
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...
In 1918, the Premier gold mine opened a few miles north of Stewart, a mining town that is the southern gateway to British Columbia's famed Golden Triangle. Over the ensuing 34 years, this underground operation churned out some 2 million ounces of gold and 45 million oz of silver, making it the largest gold producer in North America during that era. A century later, Premier continues to be in play and modern exploration is unveiling the vast mineral potential that northern...
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...
Northern Star Resources Ltd. cut a deal in August to acquire full ownership of the Pogo gold mine in Alaska, the Perth-based mid-tier gold producer's first operation outside of Australia. The Aussie miner paid US$260 million to buy out Sumitomo Metal Mining Pogo, a joint venture between Japanese firms Sumitomo Metal Mining Company (85 percent) and Sumitomo Corp. (15 percent) that owned the high-grade gold mine east of Fairbanks. At the time of the acquisition, Pogo hosted roug...
Kutcho Copper Corp. entered British Columbia's minerals exploration scene in 2017 and is already considering the feasibility of developing a mine in the province's northern reaches. Under its former name, Desert Star Resources, this new B.C. explorer cut a deal last June to acquire the high-grade Kutcho copper-zinc-silver-gold project from Capstone Mining Corp. Located about 100 kilometers (60 miles) east of Dease Lake, the Kutcho property hosts three known Kuroko-type...
