The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 176 - 200 of 220
From the enormous Pebble copper-gold-molybdenum project to grassroots gold and copper discoveries, the Kahiltna Terrane of Southwest Alaska is becoming a hot destination for mining companies seeking the mineral wealth of this rugged and underexplored region. The Kahiltna assemblage was formed when an arc of islands known as Wrangellia thrust up the ocean floor as it collided with North America. This bulldozed seabed created much of the spectacular mountains of the Alaska...
A pair of gold discoveries led a torrent of exploration news pouring out of Yukon Territory this year as numerous newcomers joined old hands in the hunt for the yellow metal and other lucrative minerals. "We've entered a new phase of exploration. People are using soil sampling as an unbiased targeting method that is resulting in discoveries of new mineral potential," Yukon geologist Mike Burke, told more than 500 participants in the Yukon Geoscience Forum Nov. 22. The areas where people are looking are expanding as miners...
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...
Efforts to build an electricity transmission line critical to economic development of northwestern British Columbia moved closer to reality in 2010. Cheered by the prospect of access to cheap power, scores of miners flocked to the region to re-activate dormant projects and scour the mountainous terrain for new discoveries. The Canadian government allocated C$130 million in funding for construction of the Northwest Transmission Line in September 2009, providing critical funding for the estimated C$404 million needed to build...
Diamonds continued to dominate mining production in Northwest Territories in 2010, but other hardrock mineral projects led most of the mineral exploration activity during the year. Yet 2010 is shaping up to be a year of recovery for nearly all of the territory's miners. Rough diamond production from Harry Winston's 40 percent share of the Diavik Mine totaled 650,000 carats in the second quarter, up significantly from 570,000 carats a year earlier. Rio Tinto plc controls 60 percent interest in Diavik, Canada's largest diamond...
When Rimfire Minerals Corp. and Geoinformatics Exploration Inc. joined forces to form Kiska Metals Corp. in the fall of 2009, the primary objective of the amalgamated junior was to resolve the tenure of the Whistler Project. A year later the junior explorer achieved this goal, gaining sole-ownership of the expansive gold-copper property in Alaska. Rio Tinto subsidiary Kennecott Exploration Co., which optioned Whistler to Geoinformatics in 2007, had the right to buy back a...
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...
TAU: TSX-V President and CEO: Raj Chowdhry Chairman: Rick Van Nieuwenhuyse Vice President, Exploration: Jerry Zieg TintinaGold Resources Inc. emerged on the Alaska mining scene in 2009 when NovaGold Resources Inc. (see NovaGold Resources Inc.) rolled 397,680 acres of its early-stage exploration properties in Alaska into the Vancouver B.C.-based junior. This transaction included two gold exploration claim groups in the Kuskokwim region (Tintina gold properties and the Colorado Creek gold project) and three western Alaska base...
Chinese companies are doing their homework and investing in base metals projects in northern and western Canada to take advantage of rising prices and to secure a future supply of the minerals for their operations back home. First on the scene were private Chinese companies, Jinduicheng Molybdenum Group and Northwest Nonferrous International Investment Co. In the summer of 2008, they purchased a 100 percent interest in Yukon Zinc Corp., which owns the Wolverine Project and other mineral assets in the Finlayson District of...
Chinese investors are finding a lot to like in Canada, especially two base metals projects in the eastern part of Yukon Territory. Jinduicheng Molybdenum Group and Northwest Nonferrous International Investment Co., two private Chinese companies, purchased a 100 percent interest in Yukon Zinc Corp. in 2008, acquiring the Wolverine Project and other mineral assets in the Finlayson District of southern Yukon Territory. Two years later, Yukon Zinc is ready to start up an underground mining operation at Wolverine that is expected...
When the financial storm of late 2008 wreaked havoc on global markets, Millrock Resources Inc. refrained from splurging its precious cash on expensive drill campaigns. But it didn't it sit idly by waiting for better economic times either. Instead, the Vancouver, B.C.-based junior invested its wealth of geological experience in identifying promising grassroots gold and copper projects. Millrock also formed key alliances with financially stable miners wanting to invest in projec...
Rare earth elements have become a hot topic among United States policymakers. The growing demand for the unique properties of these metals in "green energy" technology and military applications, coupled with China's monopoly on the rare earth market has lawmakers and the Pentagon investigating the need to stimulate domestic production, manufacture and stockpiling of these elements. A bill introduced by U.S. Rep. Mike Coffman, R-Colo., in March has moved the rare earth conversa...
The Alaska Miners Association recently released an economic benefits summary of the Alaska mining industry. This summary indicated that in 2009 the Alaska mining industry provided 3,300 direct jobs along with 5,200 indirect jobs in 120 communities in Alaska with a combined payroll of US$320 million. Average industry jobs came in at US$83,000 per year, which is 85 percent higher than the average Alaska wage and second only to wages in the oil and gas industry. The industry...
Bankers, miners and scientists are predicting a shortage of copper in the coming decade as developing countries, particularly China and India, urbanize and industrialize. This growing need has spurred Barclays Capital, the investment division of the London-based Barclays Bank plc, to back a team of top-level copper miners who are scouring the globe for large, undeveloped copper assets. Barclays Natural Resource Investments and five former top executives from Phelps Dodge, Free...
The Supreme Court of Canada ruled Jan. 21 that federal regulators must confine their mine project review scoping decisions to alternatives allowed under provisions of the Canadian Environmental Assessment Act. But in a unanimous decision, Canada's high court declined to set aside the federal regulatory decision that prompted the legal challenge - an environmental assessment of the Red Chris copper-gold porphyry project in northwestern British Columbia. The case arose when MiningWatch challenged the environmental assessment,...
Selwyn Resources Ltd., owner of the zinc and lead deposit of the same name in the mountains of eastern Yukon Territory, has entered a binding framework agreement with a large Chinese corporate investor that is ready to pump C$100 million into developing the world-class property. Selwyn, in a statement Dec. 14, said it will partner with Yunnan Chihong Zinc & Germanium Co. Ltd., an integrated lead and zinc producer with 60-plus years experience in exploration, mining, smelting and downstream processing. Chihong, which is...
The arrival of 2009 was a milestone for NovaGold Resources Inc. Emerging from a tumultuous 2008, the Vancouver, B.C.-based explorer raised badly needed capital and positioned itself to move its three advanced projects toward production. "NovaGold weathered the considerable challenges of 2008 and has emerged well-positioned to take advantage of a rising gold market and build a premier growth-focused precious metals company," NovaGold President and CEO Rick Van Nieuwenhuyse...
Ucore Uranium Inc., a junior based in Halifax, Nova Scotia, has shifted its primary focus at the Bokan Mountain Granite complex in Southeast Alaska from uranium to rare earth elements. Ucore changed the name of its U.S. subsidiary from Bokan LLC to Rare Earth One LLC to reflect its evolving focus at the heavy rare earth element-rich prospect on the southern end of Prince of Wales Island about 60 kilometers, or 37 miles, southwest of Ketchikan. "The property goes well beyond its superficial prospects as a prior high-grade...
Kiska Metals Corp. emerged on the Alaska exploration scene as the result of a merger between Geoinformatics Exploration Inc. and Rimfire Minerals Corp. The amalgamated company has a portfolio of ten precious metal properties including its flagship Whistler gold-copper project located 150 kilometers, or 92 miles, northwest of Anchorage, Alaska. Kiska will be led by the current Rimfire management team, including President and CEO Jason Weber and Mark Baknes, vice president,...
Since Mantra Mining Inc. emerged as the vehicle in which NovaGold Resources Inc. would spin off its noncore assets, the Vancouver B.C.-based junior has positioned itself to become a major player on the Alaska mining scene. In 2009 Mantra acquired whole or part interest in more than 417,000 acres of mining properties in western Alaska, assembled an impressive management team and board of directors (including two Thayer Lindsley award winners) and raised C$5 million to...
Underworld Resources Inc. hit the ground running in 2009, reporting impressive assay results in the first three holes of its drilling program at its White Gold Project in late May. For two field seasons, the Vancouver, B.C.-based company has explored sediment and vein-hosted gold targets on 845 claims covering 169 square kilometers, or 65.3 square miles, on the White Gold and Black Fox gold Properties in west-central Yukon Territory, 95 kilometers, or about 60 miles, south of Dawson City. So far, the junior has identified...
SWN: TSX-V President and CEO: Harlan D. Meade Chairman: Wade Nesmith Vice President, Exploration: Jason Dunning Incorporated in 2004 in British Columbia, Selwyn Resources Ltd. is the successor to Pacifica Resources Ltd., which underwent a reorganization of its assets in June 2007. Pacifica's acquisition of the Howard's Pass Joint Venture lands in eastern Yukon Territory in April 2005 consolidated ownership in the Howard's Pass District and formation of the Selwyn Project. Unprecedented exploration success in Selwyn's 2005...
They say when it rains, it pours, and that is just what is happening with news from field programs all over Alaska. Results from summer 2009 programs are pouring in from the Brooks Range to Prince of Wales Island, from Eastern Interior Alaska to Southwestern Alaska. Commodities of interest range from the expected gold, silver, copper, lead and zinc to the nearly unpronounceable, including praseodymium, dysprosium, terbium, thulium, lutetium and yttrium. Go ahead, drop a...
The recession is taking its toll among mining companies with properties in Alaska and northwestern Canada as mergers and acquisitions surged in this sector during the second quarter, in step with a global industry trend. Companies across the exploration and development spectrum from mining giants to the smallest juniors closed on deals with firms that are struggling to survive the recent cash crunch as independent entities. The Wall Street Journal reported in early August that according to data provider Dealogic, value of...
The Canadian government recently approved a massive expansion of the Nahanni National Park Reserve of Canada, a move being hailed as a win for both conservation and economic development. "Nahanni is one of the Crown jewels of our incredible system of national parks and it is with pride that I take part in the greatest conservation achievement in a generation," said the Honorable Jim Prentice, Canada's Environment Minister and minister responsible for Parks Canada. "Enshrining this magnificent area in legislation, under the...
