The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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While geological and engineering savvy have always been important components of advancing a promising prospect into viable operation, building a modern mine also requires a working knowledge of the complex social, biological and economic systems surrounding a project. "There is only one entity in Alaska that has any depth in all the broad technical areas that span mineral resource extraction - the University of Alaska," said Rajive Ganguli, chairman of the Department of Mining...
Is the "Yukon Gold Rush" about to spill into Alaska? Since the 1896 discovery of gold on the aptly named Bonanza Creek sparked a stampede of fortune seekers to the rivers and streams of the Klondike, these world-class mining jurisdictions that share a common geological and mineralization history have been engaged in a cross-border rivalry of drawing prospectors and miners to their mineral-rich deposits. While 19th Century miners seeking their fortunes in Alaska's Fortymile...
Whether it is multimillion-ounce gold discoveries, copper deposits that measure in the billions of pounds or massive ore-bodies of 20 percent zinc, Alaska is renowned for its mammoth deposits. The prospect of finding another Donlin, Pebble or Red Dog continues to draw explorers to this vast and underexplored corner of the United States. In the Survey of Mining Companies: 2010/2011, conducted by the Fraser Institute, top executives from 494 mining and mineral exploration...
With a 20-million-ounce gold discovery embellishing their résumés, International Tower Hill Mines Ltd. co-founders Jeff Pontius and Russell Myers have taken the helm of Corvus Gold Inc., a junior formed in 2010 to explore Tower Hill's non-Livengood assets. During the initial year after the spin-out, Pontius continued to guide Tower Hill and its Livengood project into the transition from advanced exploration to early development and Myers turned his attention to getting C...
TSX-V: FVL President and CEO: Kristina Walcott Chief Financial Officer: Gordon Steblin Vice President, Exploration and Development: Alvin Jackson Freegold Ventures Ltd. - a junior focused on gold exploration in Alaska - got a jump on the 2011 exploration season with the February start of a 6,166-meter phase-1 drill program at its Golden Summit project in the Fairbanks Mining District. The project is host to a number of gold occurrences that are similar in age and style to the multimillion-ounce intrusion found at Kinross... Full story
President: Nori Ushirone Pogo General Manager: Chris Kennedy Pogo Chief Geologist: Paul Jensen Looking beyond just replacing the more than 1,000 ounces of gold per day that it is recovering at its Pogo Mine, Sumitomo Metal Mining Pogo LLC - a partnership held 85 percent Sumitomo Metal Mining Co. Ltd. and 15 percent by Sumitomo Corp. - is seeking out other gold and silver deposits in Interior Alaska. This regional exploration was underscored by the gold-silver-antimony mineralization cut by the Japanese firms at their Stone...
As termination dust settles over Alaska, the diversity of mineral exploration, development and production news this month covers the entire spectrum of mining industry activities. The last of the seasonal early-stage exploration projects are reporting in, a major producing company has entered the state for the first time, Alaska finished its first off-shore mineral lease process in more than a decade, several projects reported on resource definition and feasibility studies, a gold deposit was sold, a ballot initiative aimed... Full story
The Money Knob deposit at International Tower Hill Mines Ltd.'s Livengood Project ranks among the top 2 percent of gold discoveries made globally during the past 20 years - a far cry from the prospect a newly-formed junior inherited from AngloGold Ashanti Exploration Inc. in late 2006. "The Livengood Project from 'Day One' really felt to me like we were on top of a very large gold system, so I was very committed to the project," Tower Hill CEO Jeff Pontius told Mining News... Full story
Although the mining news for the last month was rather on the thin side in terms of volume, a number of significant milestones were reached by the Alaska mineral industry. Over the past 30 days or so, we have had new mineral resources published on three gold deposits and one polymetallic deposit. We've had the first preliminary economic analysis released on a deposit from the Ambler Mining District and the schedule for a second preliminary economic analysis announced for...
The Fraser Institute recently released its "Survey of Mining Companies, 2010/2011," an annual survey of exploration and mining companies that gauges the pros and cons of working in various countries around the world. This year the survey results came from 494 mining companies working in 79 jurisdictions and representing cumulative exploration expenditures of more than US$2.4 billion in 2010. There was a bit of honey and a bit of vinegar for Alaska in this report. Let's do...
From college students seeking their first job in the minerals industry to executives of the world's leading mining companies, a record-setting 7,003 people packed the Westin Bayshore Hotel in Vancouver, B.C., Jan. 24-27 to attend the Association for Mineral Exploration British Columbia's 2011 Mineral Exploration Roundup. "The theme this year is 'Exploring Today for Tomorrow's Resources' - it couldn't be more important a theme, and it couldn't be more important an activity,"...
Alaska's mining industry is entering the final lap for what has turned out to be a more robust than expected year for exploration, development and production. Strong worldwide demand for mined products has certainly helped push metallic and energy minerals prices up, but all is not rosy for Alaska's mineral industry. A recent CNBC report placed Alaska dead last of all the states in terms of overall business attractiveness. We were a dismal 46th of 50 in terms of cost of doing...
Mining is becoming increasingly important to Alaskans looking for good-paying jobs. Not only does the industry provide high wages, the geographical diversity of the mines provides employment opportunities to oftentimes economically challenged rural regions of the vast state. According to the Alaska Department of Labor & Workforce Development, the number of mining jobs in Alaska has jumped 40.3 percent since 2000, almost triple the statewide average employment growth of 14.1... Full story
The Last Frontier, as Alaska has long been labeled, is as applicable a moniker today as it was to prospectors who ventured to the territory at the end of the 19th century. Alaska is considered one of the most mineralized provinces on Earth, but due to an inter-related combination of Arctic weather, rugged terrain, limited infrastructure and high exploration costs, the state's vast mineral potential remains at the edge of exploratory expansion. Though the Far North state...
Corvus Gold Corp., a new junior formed to explore International Tower Hill Mines Ltd.'s non-Livengood assets, hit the ground running with C$8 million worth of partner-funded exploration on its four Alaska properties and a 10,000-meter drill campaign on its sole-owned gold property in Nevada. By the time the Corvus' ticker symbol, KOR, lit up on the Toronto and New York Stock exchanges in August the new explorer was well into the summer exploration its promising Alaska...
Primed for booming exploration for several years, the Yukon Territory appears to have hit big in 2010, both literally and figuratively. Emerging as one of the world's mining hot spots, the Northwest Canada jurisdiction is reporting industry investment exceeding C$120 million. Propelled by record gold prices and key gold discoveries, as well as surging demand in Asia for base metals and a mining friendly government, miners flocked to the territory in growing numbers, bringing generous exploration budgets and fresh theories... Full story
Since its inception in 2007, Millrock Resources Inc.'s modus operandi is to seek out early-stage mineral prospects in Alaska and Arizona, complete initial exploration and then joint venture the projects to other industry players. Utilizing this project generator model the junior has amassed a portfolio of 10 gold and copper projects, seven of which received partner-funded exploration in 2010. Estelle, Millrock's flagship gold property in Alaska, had been the one caveat to the...
FS: TSX-V President and CEO: Bill Wishart Vice President Exploration: Karsten Eden First Star Resources Inc. is exploring West Pogo and LMS, two gold properties in the vicinity of Sumitomo Metal Mining Co. Ltd.'s Pogo Mine in Interior Alaska. The junior signed an option agreement with International Tower Hill Mines Ltd. to earn up to a 100 percent interest in the properties, and in August Tower Hill rolled these assets into a new junior exploration company, Corvus Gold Inc. (See Corvus Gold). West Pogo is situated 2.8 miles,...
FVL: TSX-V President and CEO: Kristina Walcott Chief Financial Officer: Gordon Steblin Vice President, Exploration: Michael Gross Weighed down with about C$11 million in debt in mid-2009, it appeared Freegold Ventures Ltd. would become another casualty of the market collapse. Stepping into the leadership role, former Freegold Vice President of Corporate Development Kristina Walcott leveraged the value of the company's four gold assets in Alaska and Idaho. Over the course of a few short months, the new president and CEO... Full story
Privately held company President: Nori Ushirone Pogo General Manager: Todd Roth Pogo Chief Geologist: Paul Jensen Sumitomo Metal Mining Pogo LLC, an 85/15 partnership between Sumitomo Metal Mining Co. Ltd. and Sumitomo Corp. is boosting the gold reserves at Pogo while seeking new deposits on the property surrounding the high-grade gold mine in Interior Alaska. The Tokyo-based miner planned about 40,800 meters of surface and underground drilling at Pogo in 2010. The 21,150-meter surface program split between... Full story
When Corvus Gold Inc.'s ticker symbol, KOR, first lit up on the Toronto Stock Exchange and New York Stock Exchange AMEX boards in late August, the junior explorer already had multimillion-dollar exploration campaigns under way on its promising exploration projects in Alaska. The Vancouver B.C.-based junior, formed to explore International Tower Hill Ltd.'s non-Livengood projects, holds four exploration properties in Alaska and the North Bullfrog project in Nevada. Under the... Full story
Japan is an important player in Alaska's mining industry. The island nation imports more than US$125 million in minerals from the Far North state annually and Tokyo-based businesses own the Pogo gold mine and are making significant investments in other mining projects across the state. To further strengthen this mutually beneficial bond, Alaska accepted an invitation by Japan Oil, Gas and Metals National Corp. to update the country's minerals business community about the state...
DAWSON, Yukon Territory - Hardrock mining explorers are capitalizing on unprecedented investor interest and going after paying gold, silver, copper-rich porphyry, lead-zinc and other metal deposits here with uncommon gusto this summer. A few years ago, a multimillion-dollar, single-season exploration program would have been a rare commodity in the Yukon. But this year, at least a half-dozen juniors have joined one major, Kinross Gold Corp., and the Yukon's only producer, Capstone Mining Corp., in forking over megabucks to...
Corvus Gold Inc., a Vancouver B.C.-based junior company being formed to explore International Tower Hill Ltd.'s early stage properties, will initially hold four projects in Alaska and the North Bullfrog project in Nevada. Under the terms of the proposed transaction, Tower Hill will retain all assets relating to the Livengood gold project in Alaska and about C$41 million in working capital. Corvus will get the five properties and about C$3 million in cash. The spin-out... Full story
International Tower Hill Mines Ltd. is taking long strides in advancing its 13.3-million-ounce Livengood gold project toward becoming a world-class mine. While an aggressive drill program continues to expand the Money Knob deposit, the company is completing metallurgical, geotechnical and baseline studies. This work, which will be needed to move the project into permitting and development, also lowers the risk of the Interior Alaska gold project, making Tower Hill a more...
