The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 76 - 100 of 116
Sabina Gold & Silver Corp. Sept. 14 reported positive results for an initial project feasibility study that investigates starting with a 3,000-metric-ton-per-day operation at its Back River gold project in Nunavut. At a gold price of US$1,150 per ounce, this study indicates Back River could generate a post-tax internal rate of return of 24.2 percent and net present value (five percent discount) of C$480.3 million with a pay back of 2.9 years. At an average head grade of 6.3...
Sabina Gold & Silver Corp. is endeavoring to evolve from a successful mining explorer to a mid-tier gold producer by developing its Back River gold project in western Nunavut. The company completed two feasibility studies for the Back River project in 2015. The first, published in May, demonstrated that a 6,000-metric-ton-per-day operation returned compelling economics but requires significant initial capital. As a result, a second feasibility study was undertaken to investigate starting with a 3,000-metric-ton-per-day mine...
Nunavut seems to be ahead of the curve when it comes to recovering from the global downturn in mineral exploration spending. An estimated C$202.5 million was invested in unlocking this Canadian territory's mineral potential in 2015. This 28 percent increase over the C$158 million invested in 2014 came at a time when most jurisdictions around the world were continuing a four-year trend of sharp drops in mineral exploration. While early estimates have Nunavut giving up some...
Endowed with some of the largest undeveloped mineral belts in the world, investment in public geoscience has shown the potential of Nunavut. The 2 million square kilometers (772,000 square miles) of the territory is geologically diverse and offers the potential for many commodities, including gold, diamonds, uranium, iron, base metals, nickel and platinum, making it an attractive destination for exploration. Although many new discoveries are yet to be made, existing mineral...
Sabina Gold & Silver Corp. Aug. 30 provided a permitting update on its Back River gold project in Nunavut. A June report by the Nunavut Impact Review Board recommended to the Minister of Indigenous and Northern Affairs Canada not to advance the Back River project to the next phase of permitting at this time. Sabina submitted an extensive response to the NIRB Report to the minister and requested that the minister either reject the report or send it back to NIRB for further...
Sabina Gold & Silver Corp. July 21 said it has asked the Minister of Indigenous and Northern Affairs Canada to reject the Nunavut Impact Review Board recommendation that Sabina' Back River gold project not proceed to the next phase of permitting at this time. NIRB made its recommendation in a report that follows an environmental assessment process during which the review board coordinated and reviewed Sabina's draft and final environmental impact statements, including...
Sabina Gold & Silver Corp. June 16 reported that the Nunavut Impact Review Board has recommended to the Minister of Indigenous and Northern Affairs not to advance Sabina's proposal to develop a mine at the Back River gold project to the permitting phase at this time. In its report, the review board indicated that the Back River proposal could be reconsidered once more information is provided to address uncertainties regarding effects, predictions and mitigation measures,...
Sabina Gold & Silver Corp. March 25 reported the realization of several critical milestones for the Nunavut-focused precious metals exploration company, while still conserving cash. "As planned, 2015 was a transformational year for Sabina," said Sabina President and CEO Bruce McLeod. "During the course of the year, we delivered a fit-for-purpose robust feasibility study on the Back River gold project using a gold price of US$1,150 per ounce; we made great strides in...
Sabina Gold & Silver Corp. Feb. 3 posted a budget of up to C$11 million for a 2016 work program at its Back River gold project in western Nunavut. The company said its base budget for 2016 is C$7 million with an additional discretionary spending budget of up to $4 million which will be fully funded from the existing treasury. The base budget includes funding of activities to advance Back River through completion of the environmental assessment phase as well as utilizing...
Thanks largely to its burgeoning mining sector, Nunavut is leading the Canadian territories in economic growth. With the start-up of the Mary River iron mine late in 2014, Nunavut now has two operating mines and a number of advanced stage gold, uranium, diamond and base metals projects poised to join the ranks in the coming years. "All in all, real gross domestic product (in Nunavut) is expected to grow by 3.8 percent in 2015, the highest rate of growth among the provinces...
SBB: TSX President and CEO: Bruce McLeod VP, Project Development: Wes Carson VP, Exploration: Angus Campbell Sabina Gold & Silver Corp. is on a mission to evolve from a successful mineral exploration company to a mid-tier gold producer by developing its portfolio of assets in Canada's North. Towards this goal, the company commissioned a feasibility study for its Back River gold project in western Nunavut. The study, led by JDS Energy & Mining Inc., envisions a 6,000-metric-ton-per-day mill producing an average of about...
Sabina Gold & Silver Corp. Sept. 14 reported positive results for an initial project feasibility study that investigates starting with a 3,000-metric-ton-per-day operation at its Back River gold project in Nunavut. At a gold price of US$1,150 per ounce, this study indicates Back River could generate a post-tax internal rate of return of 24.2 percent and net present value (five percent discount) of C$480.3 million with a pay back of 2.9 years. At an average head grade of 6.3...
Sabina Gold & Silver Corp. July 14 reported the completion C$1.3 million non-brokered private placement comprised of 2,661,600 flow-through common shares at C50 cents per share. "We are pleased that this financing bolsters our already strong treasury," said Sabina President and CEO Bruce McLeod. "We believe that the work we are doing at Back River continues to de-risk and add value to the project and that the use of flow-through funds to facilitate some of this work is a more...
Sabina Gold & Silver Corp. June 22 published on SEDAR a feasibility study for its Back River gold project in Nunavut. Highlights from the feasibility study were originally released by the company in May. The technical report describes a 6,000-metric-ton-per-day mill producing an average of around 346,000 ounces of gold annually over a 10-year mine life. The ore would come from a combination of open pit and underground mining, with the bulk of the material coming from the open...
Sabina Gold & Silver Corp. May 21 reported the completion of a feasibility study for its Back River gold project in Nunavut. The study, led by JDS Energy & Mining Inc., outlines a 6,000-metric-ton-per-day mill producing an average of around 346,000 ounces of gold annually over a 10-year mine life. The ore would come from a combination of open pit and underground mining, with the bulk of the material coming from the open pit. The mine outlined in the study is expected to mill...
Kaminak Gold Corp. Jan. 13 reported that results from recent infill drilling at the Latte deposit generally confirm the location, geometry, continuity and grade of the mineralization interpreted within the existing resource model. Latte contributes roughly 21 percent of the recoverable gold at Kaminak's Coffee project in the White Gold district of central Yukon Territory. Kaminak drilled 5,200 meters (43 holes) at Latte in 2014 with the objective of verifying and upgrading...
Sabina Gold & Silver Corp. made considerable progress in 2014 in advancing its Back River Gold Project located in southwestern Nunavut toward production. If the project continues development on its current track, the junior could pour first gold as soon as 2018 and quickly rival Agnico Eagle Mines Ltd.'s Meadowbank Gold Mine in size, producing 300,000 to 400,000 ounces of gold annually for 10-15 years. The Back River project comprises seven properties covering 48,563 hectares (120,000 acres), located 520 kilometers (322.4...
Mineral exploration activity is holding its own in Nunavut this year, despite a tough funding environment and stiff competition from other attractive mining jurisdictions around the world. Although the Far North territory has only one operating mine, Meadowbank, at least eight mineral projects are currently hurtling through development and the permitting process on their way to production. Of these, two projects - one gold and one iron - have project certificates, and six projects are progressing through the environmental...
SBB: TSX President and CEO: Robert Pease Vice President, Project Development: Wes Carson Vice-President, Exploration: Angus Campbell With the goal of evolving from an exploration company to mid-tier gold producer, Sabina Gold & Silver Corp. budgeted C$23 million for the 2014 field program at its Back River gold project in western Nunavut. The primary objective of the 2014 work program was to complete definition and expansion drilling at Echo, one of four deposits that comprise mineral resources at the Goose Property and is...
Led by a few key projects, mineral exploration activity held its own in Nunavut in 2013, despite a tough funding environment and stiff competition from other attractive mining jurisdictions around the world. Although the Far North territory has only one operating mine, at least eight mineral projects are currently hurtling through development and the permitting process on their way to production. Of these, two projects - one gold and one iron - have project certificates, and six projects are advancing through the...
All exploration in the Kitikmeot region of Nunavut in 2013 was carried out in search of gold and base metals. Mid-tier and major companies conducted most of the work, with mineral exploration and deposit appraisal expenditures totaling an estimated C$121 million in the northern territory's westernmost region. MMG Resources Inc. continued work at its Izok Corridor and Hood zinc-copper projects. The Izok Corridor project includes the High Lake and Izok Lake volcanogenic massive sulfide deposits. Exploration on the Izok Corridor...
Nunavut's exploration and mining opportunities consistently have attracted the attention of the major global producers. Natural Resources Canada determined that C$422 million was spent on exploring for minerals in Nunavut in 2012, and estimates that C$313 million will be spent in 2013. Exploration is underway for many minerals in Nunavut and much of the territory remains largely under-explored. These realities suggest that Nunavut's mineral production will increase substantially in the next decade. Nunavut has one operating...
There is a reason why Nunavut has one of the fastest-growing economies in Canada: mining. With one operating gold mine at Meadowbank, two huge projects on the verge of startup at Hope Bay and Mary River, five projects advancing through the environmental assessment process at Meliadine, Back River, Hackett River, and the Izok corridor as well as exploration activities continuing across all three regions of the territory in 2013, there's little wonder that Nunavut's "time has come." "Mining has the best potential to create...
SBB.V: TSX-V President and CEO: Robert Pease Vice President, Project Development: Wes Carson Vice-President, Exploration: Angus Campbell In 2013 Sabina Gold & Silver Corp. carried out an extensive exploration program on its flagship Back River Gold Project in Nunavut in its ongoing push to become a mid-tier gold producer. The company also owns the Wishbone grassroots exploration project and a silver royalty on the Hackett River Project and certain Wishbone claims in Nunavut as well as exploration properties in the Red Lake...
Among the dozen or so companies that are advancing mineral-rich deposits in Nunavut this year, none has more going on inside and outside of the territory this summer than Glencore Xstrata plc. Xstrata plc, owner of the Hackett River silver-zinc project located in western Nunavut, merged with Glencore International plc in late May to become one of the world's largest mining and trading companies. The US$30 billion deal created a mega-entity that employs nearly 200,000 people in 50 countries around the globe to generate full...
