The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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The glimmer of gold and robust Coffee provided North of 60 mining explorers with a much needed pick-me-up in 2016. At the dawn of the year, Alaska and northern Canada’s mining sectors were being dragged down by a long and grueling bear market from five years of sinking metals prices that weighed heavily on the market value and sentiment of explorers. Unfortunately, these bearish conditions cut across both precious and base metals. Gold entered 2016 at US$1,082 per ounce, m... Full story
When Kaminak Gold Corp. cut a deal with Shawn Ryan, an enterprising prospector in Yukon Territory, to option the Coffee gold project in 2009, the exploration company had a hunch it nabbed the best property in the emerging White Gold district. After six years of diligent and well-executed exploration, the junior’s intuition may have been confirmed by Goldcorp Inc.’s willingness to cut a half-billion-dollar all-shares deal to get its hands on the exciting Yukon Territory gol... Full story
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...
Under the direction of legendary mining explorer Ron Netolitzky, Skeena Resources Ltd. is investigating the gold and copper potential of three highly prospective properties in the Golden Triangle region of British Columbia - Spectrum, Snip and GJ. In April, Skeena published a maiden resource for Spectrum, a gold-copper project about 37 kilometers (23 miles) west of Imperial Metals' Red Chris Mine. The Central zone at Spectrum hosts 8.95 million metric tons of indicated resource averaging 1.04 grams per metric ton (290,000 oun... Full story
Zinc and copper are among the top commodities sought by Teck Resources Ltd. In Alaska, this work is dedicated to extending the life of the Red Dog Mine by upgrading high-grade zinc resources near the current mine area and seeking out new deposits across land surrounding the Northwest Alaska operation. Going into 2015, Red Dog had 56.6 million metric tons of ore in reserves, averaging 14.6 zinc, 4.1 percent lead and 73.8 grams per metric ton silver. This year, Teck began development of Qanaiyaq, a near-surface deposit that... Full story
Seabridge Gold Inc. has a straightforward strategy for exploring its projects in British Columbia and Northwest Territories – transform paper currency into gold. "At Seabridge, we like to think of ourselves as modern alchemists – turning cash into gold," Seabridge Chairman and CEO Rudi Fronk explained during an August interview with The Gold Report. "Over the (p)ast 17 years, we have used cash from our shareholders to fund acquisitions and exploration of gold projects in Canad... Full story
When judging the health of global mineral exploration, British Columbia seems to be the perfect model. In 2015, roughly C$272 million was invested in discovering and delineating mineral deposits in B.C., down some C$66 million from 2014. This 19.5 percent drop is in lockstep with the decline in global mineral exploration budgets for the same period, according SNL Metals & Mining's World Exploration Trends report. Likewise, B.C. exploration decreased about 60 percent from the...
After raising C$7.3 million in May, Freegold Ventures Ltd. returned to work at its Shorty Creek and Golden Summit projects in Interior Alaska. The company kicked off drilling at Shorty Creek, a 26,000-acre porphyry copper-gold project located near Livengood, in July. Since securing a long-term lease with Fairbanks-based Gold Range Ltd. in 2014, Freegold has carried out systematic geophysics and soil sampling over two target areas - Hill 1835 and Hill 1710. Drilling in 2015 further demonstrated the copper-gold potential at... Full story
Over the past four years, Constantine Metal Resources Ltd. has been able to carry out roughly US$20 million of exploration at its Palmer copper- and zinc-rich volcanogenic massive sulfide project in Southeast Alaska. This steady exploration through the recent downturn in mining markets was made possible by a timely partnership with Dowa Metals & Mining Co. Ltd. At the onset of 2013, Dowa and Constantine inked a deal that provides the Tokyo-based smelting and mining company with the opportunity to earn a 49 percent stake in... Full story
As a project generator, Millrock Resources Inc. is leveraging the notoriously cyclical mining markets to its advantage by acquiring promising mineral properties at rock bottom prices when the bears reign and ready them for robust exploration when the bulls run. "This is the exact time Millrock has been waiting for all along," Millrock President and CEO Gregory Beischer told Mining News. "We have stuck rigorously to our model, and here we are now taking advantage of the tremendous opportunities that are in front of us." Among...
Mineral exploration spending in Alaska hit an apex of US$365 million in 2011, but as venture capital for mining explorers dried these expenditures plummeted 78 percent to US$80 million in 2015. However, rising gold prices and a loosening of venture capital in 2016 seems to have marked an end to a painfully long bear market for mining explorers in Alaska. “After taking head shots for the past four years, the industry suddenly came to life over the past month, with new budgets,...
TSX/NYSE-MKT: TMQ Chairman: Gerald McConnell President and CEO: Rick Van Nieuwenhuyse Exploration Business Manager: Frank Gish While its name has changed, Trilogy Metals Inc.'s goal remains the same - unlock the potential of the world-class base and precious metals deposits at its Upper Kobuk Mineral Projects in Northwest Alaska. The company's former name, NovaCopper, spoke to the some 8.5 billion pounds of copper identified so far at UKMP, but it did not describe the natural diversity provided by the zinc, silver, gold, lead...
While many of Alaska's mining explorers were riding the brakes on their promising projects going into 2016, Royal Gold and Contango Ore put their figurative foot to the accelerator at the high-grade Tetlin gold project near Tok, an eastern Alaska community at a junction of highways that lead from Canada to Fairbanks and Anchorage. Neither of these companies are your prototypical mineral explorer. Texas-based Contango Ore came to Alaska seeking natural gas and discovered...
ASX:CYY Chairman: Mark Bojanjac President and CEO: Michael Haynes Chief Financial Officer: Ian Cunningham Coventry Resources Inc. is an Australia-based explorer focused on expanding zones of high-grade copper at Caribou Dome, a road-accessible property located about 155 miles north of Anchorage, Alaska. Upon cutting a deal to acquire an 80 percent stake in Caribou Dome early in 2015, Coventry began poring over historical exploration data collected at the project, including results from 95 surface and underground drill holes... Full story
In its quest to discover a more economic and environmentally sound way to separate the 16 rare earth elements found at its Bokan Mountain project in Southeast Alaska, Ucore Rare Metals has helped pioneer a new technology that could transform the way not only rare earths but an entire suite of strategic metals are processed in the United States and around the globe. Over the past two years, this mineral explorer turned innovator has taken the unproven concept of using... Full story
The mining company that’s been working Southeast Alaska’s rare earths project is enthusiastic about President-elect Donald Trump’s support for an independent U.S. strategic metals industry, which Ucore Rare Metals’ top executive says will favorably impact its plans for a domestic Strategic Metals Complex. According to Jim McKenzie, president and CEO of Ucore, China controls more than 90 percent of the global mining and production of rare earths ore and exhibits “near complete control over each subsequent stage of the suppl...
As President Barack Obama enters his last month in the White House, his administration has finalized a midnight hour rule that would add another level of regulatory burden on coal miners in the United States. Developed by the Office of Surface Mining Reclamation and Enforcement, a bureau within the United States Department of Interior, this “Stream Protection Rule” is being advertised as a means to ensure that surface and groundwater flows remain in balance in and around a c...
Strong metals prices and a pro-jobs businessman who vows to inject “new American metal into the spine of this country” preparing to set up his office in the White House bodes well for Alaska’s mining sector going into 2017. While a renaissance of Alaska’s mining sector may not be at the top of President-elect Donald Trump’s to-do list, pouring coal on the fire of America’s economic engine – both literally and figuratively – is. The figurative coal important to Alaskan miners...
According to preliminary data released by the U.S. Department of Labor’s Mine Safety and Health Administration, 25 miners died in work-related accidents in the United States during 2016. This is the lowest fatality rate for American miners ever recorded, besting the record of 29 set in 2015. With around 330,000 American miners working in the U.S. last year, this comes to roughly 0.8 deaths per 100,000 workers, which is much lower than the 3.4 deaths across all occupations duri... Full story
While the mineral exploration season in Interior Alaska typically runs from the time the ground dries in the spring, usually mid-May, until snow and cold weather make logistics too cumbersome and expensive in October, an increasing number of explorers are carrying out successful winter programs in this especially frigid region of the Far North State. Without a doubt, mounting a successful exploration program in temperatures cold enough to make metal brittle and with only...
Agnico Eagle Mines Ltd. Dec. 6 announced an agreement to acquire 19.93 percent of the G4G Capital Corp.'s issued and outstanding shares. In late October, G4G Capital announced finalization of an option to acquire 21 properties covering 2,490 square kilometers (roughly 615,300 acres) of the White Gold district in the Yukon from legendary prospector Shawn Ryan and Wildwood Exploration Inc., a company owned by Ryan and his wife, Cathy Wood. To better reflect its focus, G4G Capita...
Storing the rock leftover after the desired minerals are recovered is one of the most fundamental parts of mining. Typically stored behind massive earthen embankments, these tailings also pose a threat to human life and the environment, if not properly managed. Committed to sustainable mining, the International Council on Mining and Metals has adopted new tailings dam management measures that its 23 member companies must abide by and hopes non-member mining companies adopt...
The United States Department of Interior manages roughly 198 million acres of federally owned lands in Alaska, a block that is 10 percent larger than the entire state of Texas. So, it is only fitting that two Alaskans - Robert Gillam and former governor Sarah Palin - are being floated as contenders for secretary of Interior as President-elect Donald Trump builds his cabinet. "Over 50 percent of our nation's federally protected lands are located in Alaska. This is why it makes... Full story
KSM, an enormous gold-copper project in northwestern British Columbia, has received a federal license for water management facilities located on Mitchell and Sulphurets creeks, tributaries of the trans-boundary Unuk River system that flows through Southeast Alaska. "This important permit highlights the government of Canada's continued support for the environmental standards incorporated into our design of the KSM project," said Rudi Fronk, chairman and CEO, Seabridge Gold, the company that is advancing KSM. The issuance of...
In the final stretch of the United States presidential election, it became increasingly apparent that the system was rigged in favor of gold. Hillary Clinton, who was the odds-on favorite to win the White House throughout the general election, carries the baggage of perceived criminal misconduct associated with the Clinton Foundation and her tenure as Secretary of State. Donald Trump, on the other hand, is a political outsider running on a platform of shaking up the status... Full story
