The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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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...
An 18-year-old man was fatally attacked by a female brown bear with two cubs while working at a remote drill site on Hecla Mining Company's Greens Creek silver mine property in Southeast Alaska. The mauling victim, identified as Anthony Montoya from Hollis, Oklahoma, works for Timberline Drilling, an Idaho-based company that carries out surface drilling at Greens Creek. "I want to express our condolences to the families, colleagues and friends of the individual at this...
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...
Following a couple of quiet months where Alaska's mining industry focused on its work, the last month has seen an explosion of new info come out regarding that effort, some of it profound in its potential immediate, near-term and long-term implications. For example, one of Alaska's largest mines was sold to a new owner at a surprisingly low cost per ounce. The results of a robust new preliminary economic analysis were tabled by an advanced gold-silver exploration project... Full story
Northern Star Resources Ltd. Sept. 3 raised AU$175 million to help fund its acquisition of the Pogo gold mine in Alaska. In a deal announced on Aug. 30, the Australia-based miner has agreed to pay 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 owns and operates the mine. Pogo currently has roughly 4.1 million ounces of gold in resources and reserves,...
Underscoring the interconnected nature of the global mining market, not 48 hours after the John S. McCain National Defense Authorization Act was signed into law, the mining industry began wondering out loud how they were going to produce rare earth element, tungsten, tantalum and molybdenum in the near future. Why these metals and why the worry now? Because one of the many impacts the Defense Authorization Act will have on the U.S. economy is its ban on the U.S. Department of... Full story
Australian gold miner Northern Star Resources Ltd. is adding the Pogo Mine in Alaska to its growing portfolio of low-cost, high-grade underground gold mines. In a deal announced on Aug. 30, the Perth-based miner has agreed to pay 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 owns and operates the mine. Pogo currently has roughly 4.1 million ounces of...
Millrock Resources Inc. July 18 said roughly US$5 million of partner-funded exploration is being carried out across its portfolio of mineral properties, including 10,000 meters of drilling at three projects in Alaska and Mexico. "We have plenty of potential catalysts to improve the Millrock share price through the discovery of valuable resources," said Millrock President and CEO Greg Beischer. Millrock Resources is a project generating mineral exploration company with five...
Riversgold Ltd. July 9 said it has begun a seven-week exploration program that is expected to include drilling at several targets on its gold properties in Southwest Alaska. A Perth-based mineral exploration company that listed on the Australia Stock Exchange late in 2017, Riversgold owns three gold exploration properties – Luna-Quicksilver, Kisa and Gemuk – that blanket 27,122 acres of the Kuskokwim Mountains about 95 miles southwest of the 39-million-ounce Donlin Gold Min...
Trilogy Metals Inc. May 28 said it is gearing up for another busy field season at its Upper Kobuk Mineral Projects in the Ambler Mining District of Northwest Alaska. The US$16.7 million of work programs budgeted for UKMP in 2018 will focus on gathering the data to advance the Arctic project towards feasibility and permitting, as well as drilling to expand and upgrade the large copper resource at Bornite. As crews continue to advance these large and high-grade metals deposits,...
An early spring coupled with low snow fall in many parts of Alaska have combined to enable companies large and small to start their summer field programs early this year. As expected, competition is stiff for people, drills, helicopters, heavy equipment and related services, awarding those who committed budgets early and penalizing those who did not or could not commit early. For the first time in half a decade, projects with money at hand may not be able to get the services t... Full story
While Pogo has surpassed its original life expectancy of 10 years and 3 million ounces of gold, the air of excitement emanating from the miners, geologists and management indicates that mining is just getting started at this high-grade underground gold mine in the heart of Alaska's Interior. Churning out 271,273 oz of gold from roughly 950,000 tons of ore in 2017, Pogo is on pace to pour its 4-millionth ounce of gold early in 2019 and based on current estimates would have enou...
With the price for an ounce of gold pushing back above US$1,300 to ring in the new year – along with zinc and copper selling at multi-year highs and trending higher – 2018 is shaping up to be a good year for Alaska's mining sector. Together, zinc and gold account for more than 80 percent of the value of metals mined in Alaska – silver and lead account for most of the balance. While there is currently no significant copper production in Alaska, the Far North state hosts signi... Full story
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... Full story
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... Full story
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... Full story
Mining's contribution to Alaska's economy starts with the hefty paychecks being issued to the some 4,350 miners that work in the state, according to recent study completed by the Alaska Miners Association and McDowell Group. The report, "The economic benefits of Alaska's mining industry," found that the average miner working in Alaska during 2016 received a whopping US$108,000 for the year, about double the average income across all sectors in the state. That is nearly US$470... Full story
Strong metals prices and a pro-jobs businessman who vows to inject “new American metal into the spine of this country” preparing to set up his office in the White House bodes well for Alaska’s mining sector going into 2017. While a renaissance of Alaska’s mining sector may not be at the top of President-elect Donald Trump’s to-do list, pouring coal on the fire of America’s economic engine – both literally and figuratively – is. The figurative coal important to Alaskan miners...
Millrock Resources Inc. is a project generating mineral exploration company with seven projects in Alaska, three in British Columbia, 15 in Mexico and one in New Mexico. In Alaska, Millrock struck a deal with Kinross Gold Corp. that provides the major the option to earn a 70 percent joint venture interest in Liberty Bell, a road-accessible project about 70 miles southwest of Fairbanks that is prospective for copper-gold porphyry and associated gold deposits. Previous work at...
Alaska's minerals exploration sector is on an upswing, thanks to Australian mining explorers looking north and mining majors upping their activities in the state. South32 Ltd., a Perth, Australia-based miner spun out of BHP Billiton Plc, is the largest mining company from Down Under to express an interest in Alaska's mineral potential this year. South32, which has eight operating mines in the Southern Hemisphere, secured an option to acquire a 50 percent interest in Trilogy... Full story
With C$2.5 million in the bank and roughly two dozen mineral exploration projects it has generated in Alaska, British Columbia, New Mexico and Mexico, Millrock Resources Inc. is prepared for a stellar 2017 as metals prices rise and a bullish sentiment returns to mining markets. "While we will not under-estimate the work ahead, we continue to carry forward into 2017 with a spirit of optimism," Millrock President and CEO Greg Beischer said. "The cycle seems to have changed, and...
Sumitomo Metal Mining Pogo June 19 reported that a contract employee was fatally attacked by a bear while carrying out geological field work on the Interior Alaska gold property. A second contract employee that was attacked was transported to Fairbanks Memorial Hospital, where he was treated for non-life-threatening injuries and released the same day. The victims were working at an exploration site about five miles away from the main camp at the Pogo Mine when the bear attacked. A mayday was called and in accordance with...
While the mineral exploration season in Interior Alaska typically runs from the time the ground dries in the spring, usually mid-May, until snow and cold weather make logistics too cumbersome and expensive in October, an increasing number of explorers are carrying out successful winter programs in this especially frigid region of the Far North State. Without a doubt, mounting a successful exploration program in temperatures cold enough to make metal brittle and with only...
For the first time in five long years, the mood at the recently held Alaska Miners Association Convention in Anchorage was buoyant, the result of a slow but steady turnaround on mineral investments in the state. Additional new corporate interest in the state emerged during the past 30 days, and sources of exploration funds coming to Alaska continue to shift, with estimates for 2017 suggesting that 62 percent of this financing comes from Canadian concerns, 18 percent from... Full story
International Tower Hill Mines Ltd. Feb. 1 said it has paid the U$14.7 million payment due on certain claims associated with its Livengood gold project in Interior Alaska. Following the completion of the land payment, Tower Hill had US$7.5 million in cash, most of which the company will use to carry out a US$6.3 million work program focused largely on improving the economics of developing a mine at Livengood. In September, Tower Hill released results of an initial phase of... Full story
