The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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Primarily associated with cans, cups and roofs, tin may not be the flashiest metal on the market, but it has been a strategic metal that has defined human progress since the onset of the Bronze Age around 5,500 years ago and is on the list of minerals critical to the security of the United States even today, according to the U.S. Geological Survey. "In a congressionally mandated U.S. Department of Defense study of strategic minerals published in 2013, tin was shown to have...
Seven days of near-continuous rain did nothing to dampen the mood at the recently concluded Cordilleran Roundup Convention in Vancouver. The event was buoyed by a realistic optimism we have not seen in over five years. This change from half-empty to half-full glasses is due to a number of things including strong commodities prices, increasing global demand for metals and current or looming supply shortfalls in many of the metals produced by this industry. The event was...
Following a U.S. Geological Survey report that identifies 23 minerals critical to the economic wellbeing and security of the United States, President Donald Trump issued an executive order calling on federal agencies to devise a strategy to ensure America has reliable supply of these critical minerals. "It shall be the policy of the federal government to reduce the nation's vulnerability to disruptions in the supply of critical minerals, which constitutes a strategic...
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...
Rockhaven Resources Ltd. focused its 2016 exploration program on further defining and expanding the high-grade gold-silver resources at Klaza with the aim of bolstering the outcome of a preliminary economic assessment prepared for the project in southern Yukon Territory. Including the 56 holes drilled in 2015, Klaza now hosts 9.42 million metric tons of inferred resource grading 4.48 grams per metric ton (1.36 million ounces) gold, 89.02 g/t (26.96 million oz.) silver, 0.75 percent (155.4 million pounds) lead and 0.95 percent...
While most mining jurisdictions have seen sharp drops in mineral exploration spending, such investments in Northwest Territories has largely held steady at about C$100 million annually during the past five years. As a result, this diamond-rich territory accounted for roughly 7 percent of mineral exploration spending in Canada in 2016, compared with only about 2 percent in 2011. The ultimate measure of mineral exploration success is not the amount of exploration dollars spent...
Atac Resources Ltd.'s 2016 program included work at both the Rau and Nadaleen trends on its Rackla gold project, an extensive land package that stretches roughly 185 kilometers (114 miles) east-west across central Yukon Territory. At Rau, a 20-kilometer-long (12.5 miles) trend towards the western end of the Rackla project, Atac is focused on potential development of the Tiger oxide deposit and exploring similar targets in the area. In May, the company reported an updated...
Mineral exploration in Yukon began 2016 much like it finished 2015... Challenging equity market conditions and cautious investors meant junior exploration companies started the season conservatively. The industry got a boost early in the season with the mid-May announcement of Goldcorp’s (www.goldcorp.com) interest in Kaminak Gold’s (http://kaminak.com) Coffee property. By the time Kaminak shareholders approved the C$520 million deal in July, companies were raising money, expanding field programs and making deals across the...
Like a gong proclaiming the end of the long and arduous bear market for North of 60 mining explorers, the May 12 news that Goldcorp Inc. would buy Kaminak Gold Corp. for roughly C$500 million reverberated from Yukon Territory throughout the North. While the rich lure of developing a mine at Kaminak's robust Coffee gold project lured Goldcorp to the Yukon, it was the exploration potential and the ability to permit and build a mine that convinced the producer to expand into the...
Victoria Gold Corp. April 20 reported plans to raise C$24 million through a private placement of 80 million units at C30 cents each. Electrum Strategic Opportunities Fund L.P. has subscribed to 60 million of the offered units and Sun Valley Gold LLC has subscribed to the remaining 20 million units. Upon closing of the private placement, Electrum is expected to own roughly 13.6 percent of Victoria Gold's issued and outstanding shares while Sun Valley, already a significant shareholder, will increase its ownership to around 18...
From a major investment by Goldcorp Inc. to bonanza-grade gold intercepts at its KSP property in northern British Columbia, 2017 has been a golden year for Colorado Resources Ltd. In August, Goldcorp Inc. made a strategic investment that gave the major a roughly a 14 percent interest in Colorado, a stake that could increase to around 19 percent if the major exercises all of the Colorado warrants it holds. This investment was part of a larger financing completed by Colorado....
With the opening of Gahcho Kué, Northwest Territories is reaping the rewards of past exploration spending across the vast diamond-rich expanse of northern Canada. In fact, the new diamond mine is expected to contribute some C$5.7 billion to Northwest Territories economy by 2028, the end of its currently projected life, according to a report commissioned by De Beers Group of Companies. Northwest Territories Minister of Industry, Tourism and Investment Wally Schumann...
Atac Resources Ltd. partnered with the world's largest gold-producing company to further the exploration on a portion of its massive Rackla Gold project in the Yukon. Under an agreement signed in April, Barrick Gold Corp. has the option to earn up to a 70 percent stake in the Orion project, which blankets a 780-square-kilometer (301 square miles) section in the middle of Atac's roughly 185-kilometer- (115 miles) long Rackla land package. This deal consists of a potential...
Rockhaven Resources Ltd. is enjoying support from Coeur Mining Inc. at Klaza, a road accessible gold-silver project in southern Yukon. Coeur, which owns the Kensington gold mine about 225 miles (363 kilometers) south of Klaza, participated in a Rockhaven financing and its technical team is assisting Rockhaven as it advances exploration, engineering and metallurgical studies for Klaza. A 2016 preliminary economic assessment for Klaza envisions using a combination of open-pit and underground techniques to mine the 9.42 million...
After eight years of battling anti-mining policies being promulgated by the Obama Administration, the National Mining Association is cautiously optimistic about the positive change in the tone and substance of U.S. resource development policies since Donald Trump has moved into the White House. “The November election ushered in a surprisingly swift and dramatic change, particularly in the way people in Washington D.C. view natural resources,” NMA President and CEO Hal Quinn said during a June 28 keynote speech at the Res...
A Swiss investment fund with ties to Russia-born billionaire Vladimir Iorich has put in a bid to buy the shuttered Mountain Pass rare earth element mine in California, raising red flags for U.S. lawmakers concerned about the United States’ dependence on foreign countries for REEs and other metals necessary to maintain the U.S. military’s high-tech arsenal. To help promote domestic production of these strategic metals and block foreign firms from buying rare earth mines on U.S....
As exploration across most of the North continues to trend downward, the Yukon Territory is celebrating the second straight year of increased spending. Early estimates put exploration in Yukon at about C$99 million for 2015, up roughly 20 percent over the C$80 million spent last year. With a wide swath of zinc-rich deposits in the Selwyn basin, a number of copper-rich porphyries in the Dawson Range, platinum group metal-nickel deposits in the southwest and gold deposits...
U.S. House Subcommittee on Energy and Mineral Resources sought input on how to foster a more robust domestic mining sector during a July 20 hearing, "Seeking Innovative Solutions for the Future of Hardrock Mining." "Hardrock mining on federal land in the United States has a storied past, a challenging present and multiple needs for reform," Subcommittee Chairman Paul Gosar, R-Arizona, said. "From rocks to roads, rare earths to green technologies, and iron ore to wind farms,...
Klondike Gold Corp. Aug. 8 reported an agreement to acquire 223 square kilometers (55,0000 acres) of mining claims in the Dawson Mining District of Yukon Terrtory from Gimlex Enterprises Ltd., a privately owned Dawson-area exploration and mining business that has been placer mining in the area since 1984. Upon completion of this transaction, Klondike Gold will have effectively doubled its land position in Yukon's historic Klondike gold region with direct ownership of a total o...
Strategic Metals Ltd. July 27 announced that it has sold its interest in the Li lithium property to Equitorial Exploration Corp. Located in western Northwest Territories, adjacent to the Yukon border, the Li property hosts the Little Nahanni Pegmatite Group lithium-cesium-tantalum pegmatite dykes. In exchange for the property, Equitorial has agreed to issue 7.5 million shares and 2.5 million warrants to Strategic. Upon TSX Venture Exchange acceptance of the transaction,...
Alaska's mining sector is the target of a potential tax hike as lawmakers look for new revenues to help close the state's nearly US$4 billion budget deficit. For perspective, this fiscal gap is roughly 35 percent larger than the worth of all the zinc, gold, silver and lead mined in Alaska during 2015. The proposed mining tax increase is part of Gov. Bill Walker's larger budget balancing plan that includes cutting state spending, restructuring the Alaska Permanent Fund, and...
ATC: TSX-V President & CEO: Graham Downs VP, exploration: Julia Lane Chief Operating Officer: Ian Talbot In 2015 ATAC Resources Ltd. continued to expand the Carlin-type gold discoveries made at its Rackla Gold project in Yukon Territory with a C$3 million phase-1 exploration program that began in June. This work primarily focused on the Conrad Zone and 18-sqaure-kilometer Anubis cluster within the Nadaleen Trend, a 30-kilometer- (20 miles) long subset of the company's east-west extending land package that blankets an area...
Mineral exploration spending in Northwest Territories dipped sharply in 2015. While the final numbers are not in, Natural Resources Canada predicts exploration and deposit appraisal expenditures in the territory to be around C$43.6 million, or less than half the roughly C$95.8 million invested last year. Industry and government leaders in the territory, however, have come together "to develop a robust mineral industry in the NWT." In January, the government announced the...
Five years of systematic exploration has identified nine parallel zones rich in gold and silver at Rockhaven Resources Ltd.'s Klaza property in southern Yukon Territory that are beginning to look as if they may carry the size and grade to be developed into an economic mine. In January, the junior published a maiden inferred resource estimate of 7.04 million metric tons grading 4.19 grams per metric ton (948,348 ounces) gold and 96.23 g/t (21.78 million ounces) silver for two...
Rockhaven Resources Ltd. July 14 reported the addition of 868 mineral claims to its Klaza gold-silver property in southern Yukon Territory. This major expansion is the result of four separate agreements, including a property exchanged with Strategic Metals Ltd., Rockhaven's largest shareholder. In exchange for five Strategic properties adjacent to or near Klaza (BBB, Sked-Desk, Dade, Queen and Nor), Rockhaven has agreed to transfer five of its distal Yukon properties (Plata,...
