The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 201 - 225 of 451
As gold exploration cools globally, the search for the precious metal is once again heating up in the larger Pogo Mine region of Interior Alaska. One of the reasons this region continues to be a hotbed of gold exploration is Sumitomo Metal Mining Pogo LLC’s success in finding and expanding new deposits of high-grade gold on its Pogo Mine property, which anchors the Goodpaster Mining District. Another dozen promising prospects found beyond the borders of the Pogo Mine claims a...
It is high summer in Alaska and the mining industry is busy breaking rocks, drilling holes, collecting baseline data, making upgrades to mine facilities and producing metal and coal across the state. The effects of declining prices for metals are starting to be felt at the operating metal mines and except for a few projects, the exploration sector continues to wallow in the doldrums, which have plagued the industry since 2013. That said, the tire-kicking of earlier this...
Great American Minerals Exploration Inc. has closed a landmark option agreement with Sumitomo Metal Mining that consolidates the Monte Cristo and Uncle Sam gold properties into a single 55,465-acre project about 40 miles west of the Pogo Mine in Interior Alaska. GAME, as the company is commonly known, is no stranger to the Pogo region. In fact, the privately held Nevada corporation staked its first claims there in 1997 and has held onto a position in the area ever since. This...
Over the last month the inevitable termination dust has begun to show up across Alaska, bringing with it completion of mineral exploration programs and transition of development and production projects to winter operational modes. Explorers, developers and miners will soon be gathering to compare notes at the annual Alaska Miners Association Convention in Anchorage, an event that always overlaps national and local election night. Alaska's mineral industry outlook brightened...
Anniversary celebrations, golden milestones and rising metals prices are providing Alaska's metal miners with plenty to cheer about in 2016. Roughly 1 million ounces of gold will be mined in Alaska this year, when you tally the amount of the precious metal produced at four of Alaska's large metal mines – Fort Knox, Pogo, Kensington and Greens Creek – and the placer aurum produced at the family-scale operations across the state. Fortunately for all these miners, gold shot up...
Sumitomo Metal Mining Pogo LLC - a joint venture between Japanese firms Sumitomo Metal Mining Company (85 percent) and Sumitomo Corp. (15 percent) -budgeted roughly US$10 million to continue to expand upon the high-grade gold zones at and around its Pogo Mine in Interior Alaska in 2016. This follows a US$15 million program in 2015 that further defined and expanded East Deep, North and South Pogo, three zones of high-grade gold mineralization adjacent to the current underground workings at the high-grade underground mine....
As a project generator, Millrock Resources Inc. is leveraging the notoriously cyclical mining markets to its advantage by acquiring promising mineral properties at rock bottom prices when the bears reign and ready them for robust exploration when the bulls run. "This is the exact time Millrock has been waiting for all along," Millrock President and CEO Gregory Beischer told Mining News. "We have stuck rigorously to our model, and here we are now taking advantage of the tremendous opportunities that are in front of us." Among...
Mineral exploration spending in Alaska hit an apex of US$365 million in 2011, but as venture capital for mining explorers dried these expenditures plummeted 78 percent to US$80 million in 2015. However, rising gold prices and a loosening of venture capital in 2016 seems to have marked an end to a painfully long bear market for mining explorers in Alaska. “After taking head shots for the past four years, the industry suddenly came to life over the past month, with new budgets,...
ASX:CYY Chairman: Mark Bojanjac President and CEO: Michael Haynes Chief Financial Officer: Ian Cunningham Coventry Resources Inc. is an Australia-based explorer focused on expanding zones of high-grade copper at Caribou Dome, a road-accessible property located about 155 miles north of Anchorage, Alaska. Upon cutting a deal to acquire an 80 percent stake in Caribou Dome early in 2015, Coventry began poring over historical exploration data collected at the project, including results from 95 surface and underground drill holes...
The owners of Alaska’s five large metal mines – Sumitomo Metal Mining Pogo, Hecla Mining Company, Kinross Gold Corp, Teck Resources Ltd. and Coeur Mining Inc. – accounted for nearly half the US$92 million of exploration spending in the state during 2014 and similar investments by these companies is providing solid footing for the Far North state’s mineral exploration sector this year. Avalon Development President Curt Freeman said he is seeing more mining majors shopping for d...
Although news from the mining industry is generally limited this time of year, several items of import over the past month bear discussion. Alaska suffered a tragedy with the recent passing of mineral industry giant Chuck Hawley, one of Alaska's most talented and respected geologists. Although Chuck loved the mineral exploration game, he was far more than a geologist to many of us and to the state. His plus-50-year love affair with Alaska spanned some of the state's most...
Millrock Resources Inc. Oct. 5 said it has assembled a large land position covering high-potential gold targets near Sumitomo Metal Mining Company's Pogo gold mine in the Goodpaster Mining District of Interior Alaska. As a result of a series of purchase and option agreements and claim staking, Millrock now holds six discrete claim blocks in the district covering an area of 15,847 hectares (39,158 acres). The claims cover soil geochemical anomalies, many of which are untested....
Australia-based Coventry Resources Inc. has kicked off an extensive exploration program aimed at expanding zones of high-grade copper at Caribou Dome, a road-accessible property located about 155 miles north of Anchorage. "We anticipate spending around AU$2 million on the current work program that will comprise circa 8,000 meters of drilling, an extensive (induced polarization) survey, and further soil sampling/mapping in prioritized areas where previously very little, if...
Long, grueling, arduous, treacherous and painful are among the many adjectives, and sometimes expletives, used to describe the mining sector's nearly four-year bear market that is showing signs it is ready to hibernate. While Alaska's metal mines have not emerged from this enduring downturn unscathed, the sector remains largely intact and ready to ride metals prices higher. Together, Alaska's mines produced roughly US$2.76 billion of precious and base metals during 2015, down...
On Jan. 12, 2006, the first ore from high-grade underground gold reserves was fed into the mill at the Pogo Mine located near the community of Delta Junction in Alaska's Interior region. Ten years, four floods, two fires and some 3.1 million ounces of gold later, the operation is seen as an example of mining done right. Pogo General Manager Chris Kennedy shared a decade of travails and triumphs, and the lessons learned, during a presentation at the Jan. 21 Resource...
Gold Reserve Inc. Jan. 13 reported plans to acquire the LMS gold project in the Goodpaster Mining District near the Pogo Mine in Interior Alaska. Gold Reserve Corp., a wholly owned subsidiary of Gold Reserve Inc., has agreed to pay Raven Gold Alaska Inc. US$350,000 to acquire the LMS gold claims, together with certain personal property. Raven Gold, a wholly-owned subsidiary of Corvus Gold Inc., will retain a three percent net smelter return royalty interest on precious metals...
A four-year rout in metals, coal and oil prices left Alaska's mining community digging deep for reasons to be optimistic during their annual gathering at the Alaska Miners Association convention in Anchorage. While depressed metals prices naturally cut into the bottom lines of those companies mining gold, silver, zinc, lead and coal in Alaska, the effects reverberate across the entire mining community. In order to adjust to lower metals prices, the producers have cut back on...
MRO: TSX.V President and CEO: Gregory Beischer Chief Exploration Officer: Philip St. George Through careful execution of the project generator model, Millrock Resources Inc. has built a portfolio of grassroots mineral prospects in Alaska, New Mexico and Mexico. In finding joint venture partners to help fund exploration, the project generator model lessens Millrock's need to raise money in tight equity markets, minimizes the risks involved with grassroots exploration and exposes shareholders to a larger amount of exploration e...
Sumitomo Metal Mining Co. (85 percent); Sumitomo Corp. (15 percent) General Manager: Chris Kennedy Senior Mine Geologist: Dave Larimer Sumitomo Metal Mining Pogo LLC - a joint venture between Japanese firms Sumitomo Metal Mining Company (85 percent) and Sumitomo Corp. (15 percent) - budgeted roughly US$15 million to explore the high-grade gold zones at and around its Pogo Mine in Interior Alaska in 2015. This follows a US$17 million program last year that further defined and expanded East Deep, North and South Pogo, three zon...
Sumitomo Metal Mining Pogo LLC Sept. 30 reported production of 3 million ounces of gold at its Pogo Mine in Interior Alaska. To mark the occasion, 25 mine employees were selected by drawing to view the historic gold pour. This production milestone comes just over a month after the mine reached a significant safety milestone, working more than two years without a lost-time injury. "The journey to three million ounces has taken 10 years of planning and permitting and more than...
Sumitomo Metal Mining Pogo Aug. 31 reported that the employees at the Pogo gold mine in Interior Alaska have worked more than two years without a lost-time incident. Mine management said this milestone, reached on Aug. 28, reflects the dedication and commitment to safety among the more than 300 employees at Alaska's largest underground gold mine. "We have reason to celebrate," said Pogo General Manager Chris Kennedy said. "Every single person at Pogo has focused on safety...
Mining is a notoriously cyclical business that generally ebbs and flows with the overall state of the global economy, and these cycles are amplified for junior mining companies charged with scouring the globe for the next generation of mines. Following a bull market that reached a crescendo at the end of 2010, the current bear market has been especially deep and painful for even seasoned mining sector veterans. "This has been a particularly treacherous bear market," longtime...
Millrock Resources Inc. July 29 reported that it has struck a deal with Corvus Gold Inc. to purchase Raven Gold Alaska LLC's assets located in or pertaining to the Goodpaster Mining District of Interior Alaska. As part of the agreement, Millrock has purchased the West Pogo gold property from the Corvus subsidiary. The West Pogo claims cover the projection of a favorable structure that passes through Sumitomo Metal Mining Co.'s Pogo Mine., located about two miles to the east....
Sumitomo Metal Mining Pogo May 7 reported to Alaska Department of Environmental Conservation that a ruptured line spilled roughly 90,000 gallons of paste backfill at the Pogo gold mine in Interior Alaska. The 8-inch line delivers paste backfill, a mixture of tailings and cement, into the underground mine for disposal. Once underground, the concrete created from the tailings fills mined-out areas, providing support for continued mining. The backfill material is reported to...
Northern Empire Resources Corp. has laid claim to Richardson, a 52,000-acre gold property in Alaska's Interior and has formed an alliance to begin exploring a segment of this vast parcel. Northern Empire is a prospect generator with early-stage gold properties in Alaska and Nunavut and a silver property in Mexico. The company was formed as part of a restructuring of Prosperity Goldfields Corp., a Nunavut-focused exploration company headed by Adrian Fleming. As part of a re-org...
