The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
North of 60 Mining News - January 3, 2025
Indigenous Youth and Early Career Ambassador Program selectees will receive support to attend the PDAC 2025 Convention.
More than 149,000 oz of gold was poured at Kinross' Fort Knox mine in Alaska during the third quarter of 2024.
Alaska hosts 49 out of the 50 minerals deemed critical to America's economic well-being and national security.
The Whiskey Bravo airstrip serves as U.S. GoldMining and Nova Minerals' headquarters in the West Susitna Mineral District.
The Dry Creek area of Silver47's aptly named Red Mountain silver-zinc project about 60 miles south of Fairbanks, Alaska.
A critical minerals-enriched boulder at Fortune Minerals' NICO cobalt-gold-bismuth-copper project in Northwest Territories.
A haul truck at Newmont's Red Chris copper-gold mine in the Northern BC traditional territory of the Tahltan Nation.
From the launch of a new Prospectors and Developers Association of Canada (PDAC) initiative to position Indigenous youth as next-generation mining leaders to the collapse of the tailings storage facility at Victoria Gold Corp.'s Eagle Mine, North of 60 Mining News delivered more than 570 articles last year covering the highs and lows of mining and mineral exploration across Alaska and Canada's North.
Here is a countdown of the Top 10 most-read North of 60 Mining News articles of 2024.
Indigenous Youth and Early Career Ambassador Program selectees will receive support to attend the PDAC 2025 Convention.
Coming in at No. 10 is a July article that introduced the Indigenous Youth and Early Career Ambassador Program, an initiative launched by the Prospectors and Developers Association of Canada (PDAC) in 2024 to open up mining career paths for Indigenous youth.
The ambassadors selected from the nominees submitted for this program will receive support to attend the PDAC 2025 Convention, where they will gain unique educational experiences, mentorship, and networking opportunities. These experiences are designed to bolster their careers and provide them with critical knowledge to share with their peers and communities, positioning them as next-generation leaders in the mineral industry.
"The Prospectors & Developers Association of Canada is committed to supporting Indigenous youth and early-career professionals in pursuing the opportunities generated by the mineral industry," said PDAC President Raymond Goldie. "We hope that by participating in this initiative, Ambassadors will gain practical insights into the mineral industry that they can take back to their communities and organizations. We look forward to welcoming them to PDAC2025 The World's Premier Mineral Exploration & Mining Convention on March 2-5, 2025, in Toronto."
Eligible candidates must be Indigenous, between 19-30 years old, have a demonstrated interest in the mineral industry, and show a commitment to their community. Ambassadors for this program are being selected by the PDAC's Indigenous Affairs Committee.
The selected Ambassadors will receive a complimentary PDAC 2025 All-Access Pass, travel support, invitations to exclusive events, priority access to program sessions and receptions, and invaluable mentorship opportunities.
PDAC 2025: The annual award-winning PDAC Convention in Toronto, Canada, attracts more than 25,000 participants from over 135 countries for its educational programming, networking events, business opportunities, and more. Since its inception in 1932, the convention has grown in size, stature, and influence. Today, it is the event of choice for the world's mineral industry, hosting over 1,100 exhibitors and 700 speakers.
More than 149,000 oz of gold was poured at Kinross' Fort Knox mine in Alaska during the third quarter of 2024.
The ninth most-read North of 60 Mining News article of 2024 highlighted how the introduction of Manh Choh ore is resulting in record gold production at Kinross Gold Corp. Fort Knox Mine in Alaska.
Fort Knox produced 149,093 ounces of gold during the third quarter of 2024, which is more than double the 69,914 oz produced during the previous three-month period.
This significant jump in production at the iconic mine about 20 miles north of Fairbanks reflects the value of the first gold recovered from high-grade ore being delivered to the operation from the Manh Choh satellite mine about 250 highway miles to the southeast.
The first gold bar from Manh Choh ore was poured at Fort Knox on July 8, marking a major milestone for both Kinross and Contango Ore Inc., which is a 30% joint venture partner in the high-grade satellite mine delivering ore to the Kinross Alaska mill at Fort Knox.
Throughout the third quarter, the Kinross Alaska mill processed 1.1 million metric tons of ore averaging 4.03 grams per metric ton gold. While the tonnage of ore fed through the mill during the quarter was roughly 45% lower than the 2 million metric tons in the previous three-month period, the ore grades were nearly five times higher.
As the mill began processing the first batches of high-grade ore from Manh Choh, along with some mill-grade ore mined from the Fort Knox property itself, crews continued to stack lower-grade ore mined from the Fort Knox property on the operation's heap leach pad.
The combined mill and heap leach operations resulted in banner quarterly gold production at Fort Knox.
"In Alaska, production of 120,000 ounces* was higher compared to the prior quarter, a record mill grade and recovery as production commenced from the higher grade Manh Choh during the quarter," said Kinross Gold COO Claude Schimper.
*The 120,000 oz of gold produced at Fort Knox during the third quarter included all gold recovered from on-site ore and Kinross' 70% share of gold recovered from Manh Choh ore.
Alaska hosts 49 out of the 50 minerals deemed critical to America's economic well-being and national security.
The eighth most popular article of 2024 covered a proposed amendment to an Alaska House bill that would have allowed the Alaska Industrial Development and Export Authority (AIDEA) to provide significant support for critical minerals infrastructure projects in the state.
Home to 49 out of the 50 minerals deemed critical to the United States, Alaska has the potential to be a reliable domestic source of the mined materials vital to high-tech, clean energy, and national defense. America's Last Frontier, however, is often lacking when it comes to the infrastructure needed to fully unlock the state's critical minerals potential.
A proposed amendment to Alaska House Bill 122* would have provided the state with a mechanism for leveraging billions of dollars available through the Bipartisan Infrastructure Law, Inflation Reduction Act, and other federal programs to develop the infrastructure needed to establish the 49th State as a reliable and responsible domestic supplier of the minerals critical to the economy and security of the U.S.
Spearheaded by Representative Tom McKay, the amendment to HB122 would have authorized AIDEA to issue up to $300 million in bonds for critical mineral and rare earth element infrastructure projects such as roads, processing plants, and power generation and transmission.
The issuance of such bonds would have allowed the quasi-state-owned export and development authority to leverage billions of dollars in matching funds from federal programs aimed at onshoring critical minerals supply chains in the U.S.
"The amended HB 122 addresses a time-sensitive need in Alaska's infrastructure financing," said AIDEA Executive Director Randy Ruaro. "As federal programs for energy and critical minerals are approaching their sunset in the next few years, Alaska must be ready to leverage funding for federal match requirements."
*In May, following the publishing of this article, the House Finance Committee removed the critical minerals infrastructure bonding authority from HB 122.
The Whiskey Bravo airstrip serves as U.S. GoldMining and Nova Minerals' headquarters in the West Susitna Mineral District.
Coming in at No. 7 is an article providing readers with insights from North of 60 Mining News' August visit to the Whistler copper-gold project in the newly christened West Susitna Mineral District in Alaska.
The 4,000-foot Whiskey Bravo airstrip, about 100 miles northwest of Anchorage, is serving as the operational headquarters of an emerging Alaska mining district with the potential to be a domestic source of minerals and metals critical to America's economic well-being, national security, and clean energy ambitions.
The rich mineral potential of this district is underscored by U.S. GoldMining Inc.'s Whistler copper-gold project exploration camp at one end of the airstrip and Nova Minerals Ltd.'s Estelle gold-antimony exploration camp toward the other end.
While these companies have no formal affiliation and are advancing their exploration projects independently, they share a vision of putting the West Susitna Mineral District on the map – a common goal made all the more likely by their individual and collective success.
"We work closely with each other – rising tides lift all boats," Nova Minerals CEO Chris Gerteisen said during a Sept. 2 interview with Mining News.
U.S. GoldMining and Nova Minerals' individual and collective success would be enhanced by the completion of the West Susitna Road, a project being advanced by state agencies that would connect the Whiskey Bravo Airstrip to Alaska's highway system.
Alaska Gov. Mike Dunleavy, who visited the Whistler and Estelle project in 2023, says the road would open up a large expanse extending 100 miles west of more than half of Alaska's population to new recreational and economic opportunities.
The rich stores of precious metals and critical minerals in the West Susitna Mineral District are among the economic opportunities at the western terminus of the proposed road.
The Dry Creek area of Silver47's aptly named Red Mountain silver-zinc project about 60 miles south of Fairbanks, Alaska.
Coming in at No. 6 is an article that introduced North of 60 Mining News readers to Silver47 Exploration Corp., a company that emerged on the Alaska scene in 2024 with a mission to significantly expand upon the 168.6 million ounces of silver-equivalent outlined so far at Red Mountain project about 60 miles (100 kilometers) south of Fairbanks.
"The objective of the company is to rapidly grow its resource base toward a milestone development decision while generating new discoveries," said Silver47 Exploration CEO Gary Thompson, who also serves as chairman for Northern British Columbia-focused Brixton Metals Corp.
Red Mountain covers a 35-mile- (60 kilometers) trend of silver, zinc, lead, gold, and copper mineralization.
Silver47's initial focus is on expanding the silver-rich Dry Creek and West Tundra Flats projects toward the eastern end of this district-scale land package.
According to a mineral resource calculated for Silver47 earlier, these deposits about 1.7 miles (2.7 kilometers) apart host a combined 15.6 million metric tons of inferred resource averaging 71.4 grams per metric ton (35.9 million oz) silver, 0.43 g/t (214,000 oz) gold, 3.4% (1.17 billion pounds) zinc, 1.4% (476 million lb) lead, and 0.17% (57 million lb) copper.
While Red Mountain is Silver47's flagship, the silver-focused exploration company's portfolio also includes the Michelle silver-lead-zinc-gallium-antimony project in the Yukon and the Adams Plateau silver-zinc-lead-copper project in southern British Columbia.
With three projects in its portfolio and C$4 million in its treasury (as of July 31) from investments by shareholders like Eric Sprott and Crescat Capital, Silver47 began trading on the TSX Venture Exchange under the ticker symbol "AGA" on Nov. 14.
"We are excited to bring Silver47 to the market at a time when silver and gold prices have made tremendous moves higher this year," said Thompson.
A critical minerals-enriched boulder at Fortune Minerals' NICO cobalt-gold-bismuth-copper project in Northwest Territories.
Landing at the No. 5 spot on the North of 60 Mining News Top 10 stories of 2024 is an article that covered the historic $12 million investment by the U.S. Department of Defense (DOD) and Natural Resources Canada (NRCan) into establishing a vertically integrated critical minerals supply chain in Canada that includes a mine at Fortune Minerals Ltd.'s NICO cobalt-gold-bismuth-copper project in Northwest Territories and associated hydrometallurgical refinery in Alberta.
Not only is this good news for Fortune and its plans to advance NICO to production, but this funding also marks the first time that the U.S. and Canadian governments have co-invested in the development of critical mineral projects in North America.
"Canada is positioning itself as a global leader in the supply of responsibly sourced critical minerals for the green and digital economy," said Canada Minister of Energy and Natural Resources Jonathan Wilkinson. "Through our work with the United States and other allies, we are developing secure critical minerals value chains that will power a prosperous and sustainable future."
Fortune was one of two Canadian companies to receive co-investments from DOD and NRCan. Lomiko Metals Inc., which is advancing a graphite supply chain centered on its La Loutre project in Quebec, is the other.
"As some of the first awards to Canadian public mining and mineral development companies, these grants exemplify the critical importance of DPA (Defense Production Act) funds, the department's partnership with Canada, and our shared commitment to strengthening North American material supply chains," said U.S. Assistant Secretary of Defense for Industrial Base Policy Laura Taylor-Kale.
The Pentagon says the DPA funding will enable Fortune to complete an updated feasibility study, secure the remaining permits, and obtain the required authorizations to accelerate its vertically integrated NICO project to a construction decision.
A haul truck at Newmont's Red Chris copper-gold mine in the Northern BC traditional territory of the Tahltan Nation.
The fourth most-read North of 60 Mining News article of 2024 provided an in-depth look at mineral exploration in Northern British Columbia with a focus on how First Nations partnerships are elevating the ESG credentials for projects in the province's famed Golden Triangle.
Lying just deep enough into the mining frontier that the value of its world-class mineral endowment has not been fully realized, yet home to much of the infrastructure needed to unlock its vast potential, Northern B.C. is well-positioned to be a major source of precious, base, and critical metals in the 21st century.
This particularly mineral-rich section of the Canadian Cordillera also happens to offer several ESG advantages for companies seeking to discover and deliver the metals needed and wanted by a world transitioning to clean energy.
High on the list of ESG benefits is the Northwest Transmission Line, which delivers affordable, reliable, and low-carbon hydroelectricity deep into the heart of Northern B.C.'s famed Golden Triangle.
The biggest ESG benefit the Northern B.C. mining district brings to the table, however, is on the social front – sophisticated and well-organized First Nations that are well-versed in mining.
The Tahltan Nation, whose homeland covers 70% of what is now known as the Golden Triangle, has been supportive of mineral exploration and mining in this region as long as its sovereignty is recognized and the values of its people are respected.
The traditional territory of Nisga'a Nation, Tahltan's neighbor to the south, covers most of the rest of the Golden Triangle. These First Nations, which have been proactive when it comes to both mining and protecting cultural heritage within their respective territories, forged a partnership that further strengthens them as industry leaders in mining and exploration.
Responsible mineral exploration and mining companies that respectfully engage with Nisga'a and Tahltan First Nations find themselves with strong partners that can help streamline permitting and put a capital "S" in ESG.
The third most popular article of 2024 provided readers with an in-depth overview of zinc, gold, silver, coal, and quarry operations that pushed the value of minerals and metals produced in Alaska above $4.25 billion in 2023.
At $1.5 billion, zinc held onto its throne as the most valuable metal produced in Alaska during 2023. Gold, however, is poised to regain the crown as the most valued metal produced in the 49th State.
According to preliminary calculations completed by Alaska's Division of Geological & Geophysical Surveys (DGGS), the total value of metals produced at Alaska mines was approximately $3.76 billion during 2023. When you include sand and gravel mining for the construction sector, that value bumps up to around $4.1 billion, according to the U.S. Geological Survey (USGS).
When you add in the coal produced for in-state power plants, the total value of all the materials extracted from Alaska mining operations during 2023 comes in at around $4.25 billion.
Dave Szumigala, a mineral resources geologist at DGGS, informed attendees of the AME Roundup 2024 mining convention that roughly $230 million was spent at around 50 mineral exploration projects across the state during 2023 – nearly half of which was invested in discovering and expanding gold deposits, making the precious metal the top mineral commodity sought in Alaska.
Polymetallic volcanogenic massive sulfide deposits, such as those being mined at Hecla Mining Company's Greens Creek Mine on the Southeast Panhandle and Ambler Metals' Arctic mine project in Northwest Alaska, were also popular exploration targets in the state last year.
While exploration for energy transition metals has not yet been as pronounced in Alaska as other mining jurisdictions, graphite, nickel, and cobalt accounted for roughly 8% of exploration spending last year. Energy metal exploration spending is expected to rise as current projects expand and new projects emerge over the next couple of years.
The second most popular North of 60 Mining News article of 2023 provided a first look at what a second Trump White House and a Republican Congress might mean for Alaska's mining sector moving forward.
With an incoming president that favors "reshoring" over "friendshoring" the nation's critical mineral supply chains and a Congress positioned to pass permitting reform and other mining-related legislation that has stalled in one chamber or the other for more than a decade, America's mining sector is poised for growth following the outcome of the Nov. 5 election.
"We are going to have a federal government – with the Senate, with the House, with the White House – that's going to be fully backing our mining industry," Sen. Dan Sullivan (R-Alaska) said during a Nov. 6 impromptu address to a group of attendees at the Alaska Miners Association annual convention in Anchorage.
Considering that just two days later, President-elect Trump sent a video message vowing "to ensure Alaska can take advantage of every opportunity to explore and develop its tremendous resources," The Last Frontier state's mining sector seems especially well-positioned for backing from Washington.
"During my second term, we will continue the fight for Alaska like never before," he said during the Nov. 8 address to Alaskans. "We will maximize Alaska's mining potential."
Trump also said his administration will ensure that the proposed 800-mile pipeline, which would connect the roughly 35 trillion cubic feet of natural gas on Alaska's North Slope to domestic and export markets, gets built and that defense spending in the state will increase.
"President Trump's address to the nation regarding Alaska means this president recognizes not only the mineral resource potential of Alaska and what it can do for our nation, but that he also recognizes the geopolitical importance of Alaska as an Arctic nation and as a nexus for the entire North Pacific region," said Contango Ore President and CEO Rick Van Nieuwenhuyse.
The most popular North of 60 Mining News article of 2024 covered the end of Victoria Gold Corp. following the heap leach failure at its Eagle Gold Mine in the Yukon.
"It's over. Victoria is done," CEO John McConnell said in an interview with CBC on the day after Victoria Gold Corp. was placed into receivership and the Yukon government took the lead on rehabilitating the Eagle Gold mine site.
"They brought in a team to take over from us," he added.
The court decision comes less than two months after the failure of the heap leach pad at Eagle Mine, which escalated into significant challenges for Victoria Gold, resulting in the company's receivership.
In response, Victoria's board of directors chose to resign, while its shareholders withdrew their support, ultimately resulting in the court order being accepted despite the company's earlier announcement to fight it.
In the interview, McConnell stated he thinks the receivership is "totally unnecessary."
"I go from being mad to being sad," he told CBC. "I get sad because it wipes out all equity shareholder value and probably wipes out the ability to repay our contractors and suppliers both in the Yukon and Western Canada."
The impact on Victoria Gold's shareholders has been severe. They've been "wiped out," said McConnell.
"Victoria Gold essentially doesn't exist anymore. They don't want to be responsible for a project that somebody else is in charge of," he said.
Amid the challenges, McConnell also expressed gratitude for the outpouring of support he's received from the community.
"I've had probably 1,000 emails today from Yukoners upset, wishing me well," he said. "Those are the Yukoners that are my friends and that my family love, and that's why we'll be here for a while."
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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