The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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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...
PolarX Ltd. Jan. 29 reported that the final assays from the 2018 drill program at its Alaska Range project continues to tap copper-gold-silver mineralization below the resource boundaries of the Zackly skarn deposit. Zackly hosts 3.4 million metric tons of inferred resource averaging 1.2 percent (90.4 million pounds) copper, 2 grams per metric ton (213,000 oz) gold and 14 g/t (1.5 million oz) silver, according to an Australian Joint Ore Reserves Committee- (JORC) resource...
I, for one, feel vindicated, relieved and ready to face the New Year! How so, you ask? Please let me explain. For those of you who remember my column in November, I noted that EY Global Mining and Metals publishes an 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 was for the years 2017-2018 and stated that "Our number one risk this year is digital effectiveness." If you...
As the year waned, Alaska's mining industry reported some of the last of its 2018 seasonal field results while the University of Alaska and state of Alaska released some current and projected state-wide economics. At the same time, some macro-economic data was released for the global mining industry. Combined, these figures show a mix of encouraging and not so encouraging trends facing the Alaska mining industry. At the global scale, things for the mining industry are looking...
WESTERN ALASKA Northern Dynasty Minerals Ltd. announced that it had finalized a surface right of way agreement with Alaska Peninsula Corporation for use of that latter's lands for the construction and operation of transportation infrastructure associated with the Pebble copper-molybdenum-gold project. Alaska Peninsula Corporation is an Alaska Native village corporation with extensive land holdings proximal to the Pebble site and more than 900 shareholders, many of which live...
PolarX Ltd. Nov. 19 said strong assay results from soil and rock‐chip sampling demonstrate the potential for a significant gold‐copper discovery at the Mars prospect on its Alaska Range project. The Mars prospect is located at the northwest end of a 7.5-mile- (12 kilometers) long structural corridor that extends through the Zackly Skarn deposit and onto the Zackly SE porphyry prospect on the east end. Infill soil and rock chip sampling carried out this year has confirmed a 2...
PolarX Ltd. Nov. 12 reported strong copper-gold results from another hole drilled in an area about 850 meters east of the Zackly skarn deposit that is emerging as a potential open pit mine on the Australian company's Alaska Range project. This hole, ZX‐18021, cut 20.2 meters averaging 0.3 percent copper, 1.1 grams per metric ton gold and 5.3 g/t silver. While not the highest grade or thickest intercept encountered this year, its proximity to holes that meet that criteria a...
PolarX Ltd. Nov. 5 said a high‐resolution aeromagnetic geophysical survey flown this fall over most of the Stellar property, part of the Australian explorer's Alaska Range project, clearly shows the signature of a significant copper‐gold porphyry target at the Zackly SE prospect. Collecting magnetic data on 50-meter line spacing at an average height of 33 meters above the ground, the helicopter-flown survey provided details of a 7.5-mile (12 kilometers) long structural cor...
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...
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...
PolarX Ltd. Sept. 25 said drilling is beginning to outline a thick zone of shallow, high-grade gold-copper-silver mineralization about 850 meters east of the Zackly skarn deposit that show the potential for open-pit mining on the Australian explorer's Alaska Range project. First tapped by ZX-18020 – a hole reported earlier this year that cut 54.6 meters averaging 2.8 grams per metric ton gold, 9.4 g/t silver and 0.6 percent copper from a depth of 2.5 meters – this thick new...
PolarX Ltd. Sept. 20 announced that it has encountered deeper high-grade gold-copper-silver mineralization east of the Zackly skarn deposit on the Australian explorer's Alaska Range Project. In March, PolarX reported an Australian Joint Ore Reserves Committee- (JORC) compliant inferred resource for Zackly of 3.4 million metric tons of inferred resource grading 1.2 percent (90.4 million pounds) copper, 2 grams per metric ton (213,000 oz) gold and 14 g/t (1.5 million oz)...
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...
PolarX Ltd. reported additional high-grade gold-copper mineralization well outside the resource boundary at the Zackly skarn deposit on the Australian explorer's Alaska Range Project. The Zackly deposit hosts 3.4 million metric tons of inferred resource grading 1.2 percent (90.4 million pounds) copper, 2 grams per metric ton (213,000 oz) gold and 14 g/t (1.5 million oz) silver, according to a resource calculation completed early this year. With the goal of expanding this...
PolarX Ltd. Aug. 21 announced that assay results confirm that drilling has tapped copper and gold well below the currently outlined Zackly skarn deposit at the Australian explorer's Alaska Range project. Based on historical drilling and 13 holes completed last year, the Zackly deposit hosts 3.4 million metric tons of inferred resource grading 1.2 percent (90.4 million pounds) copper, 2 grams per metric ton (213,000 oz) gold and 14 g/t (1.5 million oz) silver. This resource...
PolarX Ltd. Aug. 15 reported that assay results confirm the outstanding copper-gold mineralization observed in the core from hole ZX-18020, a hole drilled some 850 meters east of the current resource at the Zackly deposit on the company's Alaska Range project. Starting at a depth of 2.5 meters, this hole cut 54.6 meters averaging 2.8 grams per metric ton gold, 9.4 g/t silver and 0.6 percent copper, including a 0.3-meter (one foot) section from 56.7 meters averaging 27.3...
Although the Alaska mineral industry is in better health in the middle of 2018 than it has been in the last five years, the spirited recovery that was in progress in the first quarter of the year is now looking more like a dead-cat bounce – a minor recovery after a long down trend. This is particularly true of the exploration sector. Reviewing the Alaska minerals industry, you will note that several exploration projects are only now commencing their 2018 exploration p...
PolarX Ltd. July 24 reported that drilling at its Alaska Range project continues to cut stellar visible copper mineralization beyond the Zackly skarn deposit. A 13-hole drill program carried out in 2017 upgraded the historical Zackly deposit to 3.4 million metric tons of JORC- (Australian Joint Ore Reserves Committee) compliant inferred resource grading 1.2 percent (90.4 million pounds) copper, 2 grams per metric ton (213,000 oz) gold and 14 g/t (1.5 million oz) silver. This...
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...
PolarX Ltd. July 17 reported that strong, visible copper and gold mineralization was seen in ZX‐18018, a recently completed hole that drilled about 100 meters below the current resource at the Zackly skarn deposit on the Australian explorer's Alaska Range property. A 13-hole drill program carried out in 2017 upgraded the historical Zackly deposit to 3.4 million metric tons of JORC- (Australian Joint Ore Reserves Committee) compliant inferred resource grading 1.2 percent (...
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...
PolarX Ltd. has put together an 85,750-acre (347 square miles) land package just off Alaska's road system that already hosts deposits rich in copper and gold yet remains vastly under-explored. This 22-mile- (35 kilometers) long property, known as Alaska Range, is made up of two adjacent projects – Stellar and Caribou Dome – the Australia-based exploration company brought together in 2017. Stellar, currently the primary focus of PolarX's exploration, already boasts 90.4 mil...
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...
