Archive | British Columbia’s Golden Triangle Mining District

[British Columbia Golden Triangle] Pretium ramps up – by Lesley Stokes (Northern Miner – October 30, 2017)

VANCOUVER — Pretium Resources’ (TSX: PVG; NYSE: PVG) new 8.7 million oz. Brucejack gold mine in northwestern B.C.’s Golden Triangle district is “well on its way” to becoming a 500,000 oz. per year gold producer, president and CEO Joseph Ovsenek says.

During the third quarter, the company produced 82,203 oz. gold from 261,262 tonnes grading 10.52 grams gold per tonne. News of the results drove company shares up 28% to peak at $15.48, before settling to $14.98 at press time.

“I’m fairly confident that our quarterly results beat the expectations on the street,” Ovsenek tells The Northern Miner during a phone interview. “There’s also a Credit Suisse research note that talked about a large short position on Pretium, and how this is forcing some of those to cover. So I expect that’s a big part of our recent share price gain as well.” Continue Reading →

Pretium ramps up at Brucejack in BC – by Lesley Stokes (Northern Miner – October 18, 2017)

Global mining news

VANCOUVER — Pretium Resources’ (TSX: PVG; NYSE: PVG) new 8.7 million oz. Brucejack gold mine in northwestern B.C.’s Golden Triangle district is “well on its way” to becoming a 500,000 oz. per year gold producer, says president and CEO Joseph Ovsenek.

During the third quarter, the company produced 82,203 oz. gold from 261,262 tonnes grading 10.52 grams gold per tonne. News of the results drove shares of the company up 28% to a peak of $15.48 before settling at $14.98 at the time of writing.

“I’m fairly confident that are our quarterly results beat the expectations on the street,” Ovsenek tells The Northern Miner during a phone interview. “There’s also a Credit Suisse research note that talked about a large short position on Pretium, and how this is forcing some of those to cover. So I expect that’s a big part of our recent share price gain, as well.” Continue Reading →

B.C. miner Donald McLeod fulfilled every prospector’s dream – by Catherine McLeod-Seltzer (Globe and Mail – October 19, 2017)

https://beta.theglobeandmail.com/

Catherine McLeod-Seltzer is Don’s daughter.

Miner. Mentor. Husband. Father. Born Oct. 21, 1928, in Stewart, B.C.; died May 27, 2017, in Vancouver; of complications from a fall; aged 88.

Don McLeod’s story is the stuff of British Columbia mining legend: A tramp miner who, through gritty determination, unflagging optimism and a good helping of luck, fulfilled every prospector’s dream when he struck it big and brought three rich gold mines to production.

Don grew up in Stewart, B.C., a frontier mining community in the province’s farthest northwest corner. When Don’s mother, Catherine, arrived there from Scotland in 1926, she thought it was the end of the world. But for a young boy, it was paradise to grow up in a close-knit town in the middle of the wilderness; where else could you have a grizzly bear for a pet or play with blasting caps (even if he almost blew himself up)? Continue Reading →

Global Warming Aids Gold Miners’ Pursuit Of Cold, Hard Cash In Northern Canada – by Nate Trela (Forbes Magazine – October 16, 2017)

https://www.forbes.com/

The Mitchell gold deposit in northern British Columbia is the largest ever found in Canada, but “you couldn’t see it until the glacier receded,” said Rudi Fronk, CEO of gold explorer Seabridge Gold. He said it took three decades and three kilometers of melting until it “revealed what was underneath.”

It’s an uncomfortable topic for some in the mining industry, but global warming is helping to make some of the multimillion-ounce gold deposits once trapped under glaciers and permafrost in or near northern Canada into some of the most attractive mining M&A targets in North America.

According to industry executives and bankers, gold majors are facing production cliffs that many think will require acquisitions of large deposits. And increasingly, they seem willing to chase frozen assets in northwestern British Columbia, the Yukon and Nunavut that were once considered unreachable or undesirable instead of similarly-sized deposits in politically riskier jurisdictions. Continue Reading →

New Roads to Riches – by Sheldon Gordon (Lexpert Business of Law – September 22, 2017)

http://www.lexpert.ca/

In a depressed market for commodities, mining companies will have to rely on government funding, P3s and the ambition of local communities to get their projects off the ground.

THE CANADIAN MINING INDUSTRY’S success depends on its capacity to move its output to markets efficiently, at competitive prices and via modern infrastructure such as railways, roads and ports. Power generation is also critical. Mines in northern Canada face a special challenge because of the lack of electrical grid capacity.

The slump in world commodity prices from their peaks of 2011 has put a damper on the mining sector in general and on mining infrastructure procurement in particular. There is cautious optimism regarding mining plays in 2017, but nothing like the exuberance that would be triggered by a sustained rally in precious and base metals.

“I think prices need to go up a little bit more and hold for a little bit longer,” says Erik Goldsilver, a partner at Borden Ladner Gervais LLP in Toronto. “The increase in prices we’ve seen over the past six to 12 months is positive, but there’s still some room to grow.” Continue Reading →

Re-Awakening of the Golden Triangle – by Jeff Desjardins (Visual Capital – April 6, 2017)

 

Many years ago, a remote and mountainous region in northwestern British Columbia gained considerable notoriety as an emerging mineral district. With a rich mining history, one of the world’s largest silver mines (Eskay Creek, discovered in 1988), and million ounce gold deposits – this area of incredible wealth became known as “The Golden Triangle”.

However, despite its obvious potential, the vast majority of land in this highly prospective region has been left mostly untouched by humans. A combination of factors, including low gold prices and a lack of infrastructure, has led to the area laying dormant for decades.

Today, things are changing dramatically. The Golden Triangle is a new hotbed for mineral discovery, and over 130 million ounces of gold, 800 million ounces of silver, and 40 billion lbs of copper have been found. The amazing part is that this is only scratching the surface of the region’s ultimate potential.

Skeena Resources and IDM Mining have generously helped us to put together the story on the re-awakening of the famed Golden Triangle.

Continue Reading →

[B.C. Golden Triangle – Pretium Resources] In the Valley of the Kings – by Virginia Heffernan (CIM Magazine – April 18, 2016)

http://magazine.cim.org/en/

Up above the treeline in the mountains of northwestern B.C., Pretium Resources’ Brucejack project promises to add lustre to the province’s mining industry.

Cost overruns in the gold mining industry have become so commonplace that investors are justifiably wary of feasibility estimates. But the Brucejack project in British Columbia is trending in the opposite direction as construction progresses, shedding capital costs amid fiercely competitive conditions for equipment and contractors and favourable currency markets.

Since Vancouver-based Pretium Resources released a feasibility study for Brucejack in mid-2014, estimated capital costs for the project have dropped 14 per cent to US$641 million. That excludes the US$56 million in working capital set aside for startup in case gold receipts are delayed. The portion allocated to the underground mine fell 33 per cent to about US$101 million. Continue Reading →

BUILDING A MINER IN THE GOLDEN TRIANGLE – by James Kwantes (Resource Opportunities – September 16, 2016)

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IDM Mining (IDM-V) site visit

Getting to IDM Mining’s Red Mountain gold project in northwestern British Columbia wasn’t quite “planes, trains and automobiles,” but it was close. First I flew from Vancouver into Smithers. There’s some family history in the neighbourhood — down the road is Houston, where my grandfather settled with his family after emigrating from the Netherlands. There’s some family history for IDM CEO Rob McLeod, as well.

From Smithers it was into a rental car for the 330-kilometre trek to Stewart, nestled beside the Alaska panhandle. Jagged mountain peaks and tall waterfalls make the final approach beautiful.

A helicopter picked me up for the last leg to Red Mountain, 15 kilometres northeast of Stewart. It was a cloudy day, so the pilot had to take the “long way,” threading his machine through the Bitter Creek Valley to the site. It’s the same route the road will take from Stewart — in the helicopter, it was still only about 10 minutes. Continue Reading →

History of Mining – Stewart, B.C. (Python Mining Consultants – 2010)

Above Video: From the 1970’s CBC series ‘The Northerners’ with host Bob Switzer, remarkable footage of early gold and silver miners in the Stewart area, Anyox and Kitsault.

http://www.pythongroup.ca/

Stewart, B.C. is a small town tucked at the head of the Portland Canal District, in British-Columbia. The town was once as large as 10,000 people before the First World War yet now holds less than 500 permanent residents. This is largely due to the fact that the town once had an active mining industry. That is no longer the case today. This article looks to outline the mining activities that occurred in and around Stewart, B.C. in the past.

Exploration in the area began in 1898, when a group of 68 prospectors travelled to the area in search of placer gold deposits. Evidence suggests, however, that the Nass River Indians knew the area at the head of the Portland Canal well before this and referred to it as Skam-A-Kounst, meaning safe place. They would travel to this area as a retreat from the harassment of the coastal Hiadas.

Here, they would hunt birds and pick wild berries. In 1896, Captain D. Gilliard arrive in the area, exploring the area on behalf of the U.S. Army Corps of Engineers. Continue Reading →

A revival takes shape in B.C.’s Golden Triangle – by James Kwantes (CEO.ca – April 4, 2016)

https://ceo.ca/

This is a story about past, present and future in a mineral-rich corner of the North American continent. High-grade gold mines like Snip and Eskay Creek helped give northwestern British Columbia its Golden Triangle moniker. If those two operations are symbolic of the region’s rich past, Red Chris holds a strong claim on the present.

The Imperial Metals (III-T) mine is the latest to go into production. This year Imperial expects to pull out more than 90 million pounds of copper and more than 60,000 ounces of gold from Red Chris, a large copper-gold porphyry deposit.

Red Chris feeds into the government funded Northwest Transmission Line, a 344-km 287-kilovolt power line completed in 2014 at a cost of more than $700 million. Imperial Metals built a 93-km extension to the new power line to feed Red Chris. So the infrastructure push — the power line, roads and new Hydro projects — in the Golden Triangle is a major reason for present-day optimism about revitalization. Continue Reading →

British Columbia’s Golden Triangle – by Lawrence Roulston (Kitco.com – September 24, 2012)

http://www.kitco.com/

[While a bit dated, this article is very informative. Stan Sudol-RepublicOfMining.com]

With a strong financial backer, Calpine was able to carry out a comprehensive
exploration program. They drilled more than 100 holes that were geologically
encouraging, but which would not have attracted the attention of most investors.
It was hole number 109 that convinced investors of the significance of the Eskay
Creek discovery. That hole, one of the most impressive drill holes of all time,
encountered an extraordinary 208 meters that assayed 27 grams per tonne gold
and 30 g/t silver.

A corner of Canada’s western-most province hosts one of the richest mineral belts in the world. Few investors yet appreciate the enormous value of that region.

British Columbia, long recognized for its exceptional mineral wealth, is regaining prominence among mining investors. Canada in general is looking increasingly attractive as the mining industry faces mounting challenges in many jurisdictions around the globe. Continue Reading →