Archive | Canada Mining – North of 60

[Yukon Mining] Junior shakeup in the White Gold District – by Andrew Topf (Mining.com – July 23, 2017)

http://www.mining.com/

The White Gold District in the Canadian Yukon territory is continuing to see movement, this time among junior gold explorers hoping to grab a piece of the action.

Last week Taku Gold (TSXV:TAK) said it has picked up four White Gold properties from Golden Predator Mining (TSXV:GPY), including one from Golden Predator’s subsidiary, Golden Predator Exploration. The four properties are 40 Mile, Korat, Chopin and Lucky Joe.

According to Taku Gold the highlight of the all-share deal is the acquisition of the Lucky Joe prospect, since it butts up against Taku’s Rosebute project to the north. The company adds that it will be able to capitalize on Goldcorp (NYSE:GG, TSX:G) recently building a road to access the Coffee gold project the gold major acquired from Kaminak Gold: Continue Reading →

COMMENT: Dominion Diamond accepts sweetened offer from Washington Companies – by Marilyn Scales (Canadian Mining Journal – July 17, 2017)

http://www.canadianminingjournal.com/

YELLOWKNIFE, NWT – The management of Dominion Diamond Corp. has agreed to accept the sweetened takeover offer of the Washington Companies, the private company based in Missoula, Montana.

In March, Washington offered US$13.50 per share, and the Dominion board turned down the deal. Now offering US$14.25 per share, Washington looks to be the new, sole owner of the Ekati diamond mine (Canada’s first) and 40% of the Diavik diamond mine (operated by 60% owner Rio Tinto). The offer is a 44% premium over the March 17, 2017, share price and puts a value of US$1.2 billion on Dominion.

When that news hit my desk this morning, I thought, “There goes another one.” Readers will remember 10 years ago when Vale bought up Inco and Xstrata (now Glencore) scooped up Noranda/Falconbridge. Most of the writers who marked that anniversary recently thought the change in ownership did little to further Canadian mining or our place in the global minerals industry. Continue Reading →

Game changer: NIRB now says yes to Nunavut’s Back River mine – by Lisa Gregoire (Nunatsiaq News – July 19, 2017)

http://www.nunatsiaqonline.ca/

“Sabina’s revised plans now constitute some of the most protective caribou protection measures ever developed for the Arctic”

It turns out that now is a good time to go ahead with Sabina’s Back River gold mine project. After saying “no” to the multi-million dollar Kitikmeot project in June 2016, and being told by a federal minister that “no” was the wrong answer, the Nunavut Impact Review Board “has concluded that the Back River Gold Mine Project Proposal may proceed at this time.”

However, the NIRB says this was not a foregone conclusion.

“For those who may have expressed concern that the Board’s further consideration of the Project would be a ’rubber stamp’ only, and would not lead to any substantive improvements to the Project, the Board notes that the further consideration was conducted with the same care and thoroughness as the original assessment,” the NIRB said in a July 18 news release. Continue Reading →

[Yukon Mining] S-6 failed to offer perfect solutions: Cathers – by Sidney Cohen (Whitehorse Star – May 18, 2017)

http://www.whitehorsestar.com/

In a rare turnabout, the Yukon Party is throwing its support behind Bill C-17, federal legislation that repeals four contentious amendments made to the Yukon Environmental and Socio-economic Assessment Act (YESAA) by the previous Conservative government through Bill S-6.

“Moving forward with the amendments contained in Bill C 17 is probably the best course of action at this point in time because of the concerns by CYFN (Council of Yukon First Nations) and individual First Nations,” Yukon Party MLA Brad Cathers told the House on Wednesday.

The legislative assembly unanimously voted Wednesday in favour of a motion to support the federal Liberals’ efforts to pass Bill C-17, which is currently before Parliament. YESSA spells out the process for assessing all Yukon lands for development, and is part of the Umbrella Final Agreement between Yukon First Nations, the territory and Canada. Continue Reading →

NEWS RELEASE: SABINA GOLD & SILVER RECEIVES POSITIVE RECOMMENDATION FROM THE NUNAVUT IMPACT REVIEW BOARD FOR CONTINUED DEVELOPMENT OF BACK RIVER GOLD PROJECT, CANADA

Vancouver, BC – Sabina Gold & Silver Corp (SBB.T), (“Sabina” or the “Company”) is pleased to announce that it has received a copy of the Second Final Hearing Report (the “Report”) from the Nunavut Impact Review Board (the “NIRB”). In the report, the NIRB has recommended to the Minister of Indigenous and Northern Affairs Canada (“INAC”) that development of the Company’s 100%-owned Back River Gold Project (“Back River” or the “Project”) in Nunavut, Canada, should proceed to the licensing phase.

This positive recommendation by NIRB concludes a five year comprehensive NIRB review and public hearing processes involving Inuit, the Kitikmeot Inuit Association (“KIA”), Federal and Territorial governments, and community and other Northern representatives. This recommendation follows a direction of the Minister to the NIRB in January 2017 to reconsider the project after an initial negative recommendation from the NIRB in July 2016.

In February this year, a Final Environmental Impact Statement Addendum was submitted to the NIRB focusing on the areas that were identified as outstanding concerns in the First Final Hearing Report. The review of this addendum by all parties culminated in a second final technical and public hearing that took place in Cambridge Bay during May 27th to June 3, 2017. Continue Reading →

YESAB says Goldcorp failed to consult First Nations, halts Coffee mine assessment – by Lori Garrison (Yukon News – July 14, 2017)

‘They just came in and completely failed to read the local landscape’

The Yukon Environmental Socio-Economic Assessment Board has discontinued its assessment of the proposed Coffee gold mine on the grounds that Goldcorp did not adequately consult with the affected First Nations governments.

“Having carefully reviewed the information in Goldcorp’s proposal as well as the comments provided by the Tr’ondëk Hwëch’in and Selkirk First Nation, the executive committee is of the opinion that Goldcorp has not met its obligation to consult in relation to those First Nations and the First Nation of Na-Cho Nyak Dun,” YESAB’s executive committee wrote in its report, issued July 12.

“The only aspect we’re looking at is the consultation record…. They (Goldcorp) are missing pieces of it,” said Rob Yeoman, a spokesperson for YESAB. Goldcorp appears to have tried to rush through the consultation process in an effort to meet what mine general manager Buddy Crill referred to as an “aggressive” March 31 assessment deadline. Continue Reading →

Diamond Hunting In The Arctic [Canada] – by Ludovic Hirtzmann (World Crunch – July 9, 2017)

https://www.worldcrunch.com/

GAHCHO KUÉ MINE — The old Jumbolino, a small, 1980s-model British plane, circles above the pack ice and its multitude of frozen lakes. Aboard, the 90 passengers, all of them miners, are waking up. “Welcome to Gahcho Kué,” the purser chants in a hoarse voice.

Gahcho Kué means “place of the big rabbits” in the indigenous Chipewyan language. But for outsiders, the name is synonymous with diamonds. The Gahcho Kué mine, owned by the De Beers company, is located in Canada’s Northwest Territories, about two-hour by plane from Edmonton, Alberta. It looks a bit like a lunar base, stranded on the tundra, endlessly flat and white.

After they land, the miners make their way onto a pair of school buses. The men are quiet. Later they arrive at the entrance of the camp, which is made of prefabricated huts arranged in parallel lines. A stern young man calls for silence. Continue Reading →

Are the feds ready to buy into the Ring of Fire? – by Staff (Northern Ontario Business – July 7, 2017)

https://www.northernontariobusiness.com/

Transport minister launches national $2-billion transportation infrastructure fund

It’ll be a wait-and-see proposition if Ottawa is finally ready to invest in mining-related transportation infrastructure for Northern Ontario’s Ring of Fire. Federal transport minister Marc Garneau announced some of the details behind the Trade and Transportation Corridors Initiative (TTCI) as part of the government’s “nation-building infrastructure plan” on July 4.

The feds said they’re prepared to spend two billion dollars over 11 years on trade-oriented transportation infrastructure through investments in ports, waterways, airports, roads, bridges, border crossings, and rail networks.Up to $400 million is earmarked to support transportation infrastructure for the movement of people and goods in Canada’s Northern territories under a merit-based program.

Proponents are now being invited to tap into this fund by submitting an expression of interest to support transportation projects. Last March, no mention was made in the federal budget of any kind of investment toward building mining-related infrastructure for the Ring of Fire. Continue Reading →

MAC lauds initiative to improve transportation infrastructure in Northern Canada – by Megan Van Wyngaardt (MiningWeekly.com – July 5, 2017)

http://www.miningweekly.com/

JOHANNESBURG (miningweekly.com) – The Mining Association of Canada (MAC) has welcomed the launch of the federal government’s Trade and Transportation Corridors Initiative (TTCI), which will include an allocation of up to $400-million in dedicated funding for transportation infrastructure in Northern Canada.

The acute lack of infrastructure in Canada’s remote and northern regions is inhibiting further sustainable mineral development owing to the high costs of exploring, building and operating in these regions.

A recent study co-authored by the MAC had found that it cost about two- to two-and-a-half times more to build a gold or base metals mine in northern Canada than in the south, as a result of the lack of infrastructure. Continue Reading →

YUKON – A STAMPEDE OF GOLD HUNTERS – by Eduardo Arcos (Global Business Reports – June 6, 2017)

http://gbreports.com/

ALL OF A SUDDEN MAJORS AND JUNIORS ALIKE ARE SNAPPING UP PROPERTIES IN YUKON.

For decades, Yukon has failed to live up to its mining potential. This territory, roughly as large as Spain, currently hosts only one major operating mine – Capstone’s Minto copper mine. Despite its widely acknowledged mineral wealth, companies have been reluctant to invest heavily in Yukon as they focused on overseas acquisitions during the boom years and cited high operational costs in this territory during the downturn.

However, recent developments suggest that a paradigm change is in the works. Vancouver-based giant Goldcorp acquired Kaminak Gold in July 2016 through a $500 million transaction. Its Coffee Gold project is a high-grade, heap leach project and Goldcorp is currently in the process of reviewing and optimizing Kaminak’s feasibility study along with developing infrastructure.

Another major with an established presence in Yukon is Kinross Gold, which acquired the White Gold property in 2010 with an inferred resource of 400,000 oz at its Golden Saddle zone. Last December, Agnico Eagle announced the acquisition of 19.3% of White Gold Corp, the largest landholder in the prolific White Gold district. Continue Reading →

A CANADIAN DIAMOND PLAY WITH DISCOVERY, DEVELOPMENT POTENTIAL – by James Kwantes (Resource Opportunities – June 2017)

Subscribe to Resource Opportunities this month and use COUPON CODE JUNE to receive US$100 off regular subscription prices of $299 for 1 year and $449 for 2 years. That’s considerably less than the profit on one successful trade, making Resource Opportunities one of the best value propositions in the newsletter world. Our focus is actionable investment ideas with high speculative upside potential. Recent examples: ERD.T at 37.5c & SBB.T at 39c. Join us today and profit!

North Arrow Minerals is one of three Resource Opportunities sponsors.

The November 1991 discovery of diamonds in the Northwest Territories by Chuck Fipke and Stu Blusson put Canada on the global diamond map. It also triggered one of the largest staking rushes in the world, as hundreds of companies hurried north to find treasure.

A few years later, many had retreated to warmer climes. One company that remained in the hunt was Gren Thomas’s Aber Resources, with a large land package staked by Thomas and partners at Lac de Gras near the Fipke find. In the spring of 1994, an Aber exploration crew led by Thomas’s geologist daughter, Eira Thomas, raced the spring melt to drill through the ice in search of kimberlite — the rock that sometimes hosts valuable diamonds.

It was a longshot. Since the Fipke find, the great Canadian diamond hunt had virtually ground to a halt — despite the millions of dollars spent in search of the glittery stones. But the drill core from that final spring hole had a two-carat diamond embedded in it. The Diavik discovery meant it was game on for Aber — and Canada’s nascent diamond industry. Continue Reading →

CANADA 150: Yellowknife’s toxic history through the eyes of the Betsina family – by Hilary Bird (CBC News North – June 28, 2017)

http://www.cbc.ca/news/canada/north/

This story is part of a series from CBC North looking at Canada 150 through the eyes of northern families.

‘The government spoiled our lives,’ says Muriel Betsina. ‘Giant Mine spoiled our lives’

Muriel Betsina’s voice is soft and nurturing as she explains, step by step, how she makes the perfect piece of bannock. But ask her about the old mine site you can see out of her kitchen window in N’Dilo, N.W.T., and her voice drops. Her fists clench.

This tiny Dene elder has a rage that boils deep. “The government spoiled our lives,” says Betsina. “Giant Mine spoiled our lives.”

During more than half a century of mining, 19,000 tonnes of toxic arsenic trioxide dust went up the stacks of smelters at the Giant and Con mines and settled on the once-pristine land and lakes in and around Yellowknife. The gold mining industry began in the late 1930s. Giant Mine closed in 2004, leaving a toxic legacy that has deeply changed the lives of people in N’Dilo. Continue Reading →

A NEW YUKON GOLD PLAY – by James Kwantes (Resource Opportunities – June 21, 2017)

A Message From the Editor

Subscribe to Resource Opportunities this month and use COUPON CODE JUNE to receive US$100 off regular subscription prices of $299 for 1 year and $449 for 2 years. That’s considerably less than the profit on one successful trade, making Resource Opportunities one of the best value propositions in the newsletter world. Our focus is actionable investment ideas with high speculative upside potential. Recent examples: ERD.T at 37.5c & SBB.T at 39c. Join us today and profit!

The Yukon is now one of the hottest jurisdictions globally for gold exploration. Goldcorp kicked things off in the spring of 2016 with its $520-million purchase of Kaminak Gold and the 5-million-ounce Coffee project. Since then Barrick, Newmont and Agnico Eagle have also entered through investments in Yukon projects.

As the Yukon’s largest claims holder, Strategic Metals is poised to capitalize on the upsurge in interest. But the company wasn’t getting much value in the market for some prime projects in the highly prospective Dawson Range gold belt. It is now.

Strategic packaged four of the properties — Eureka, Trident, Triple Crown and Treble — into a new company called Trifecta Gold, which began trading on the TSX Venture last Thursday with the symbol TG. The new exploration play has just 23.15 million shares outstanding and Strategic retains a 9.19 stake. The rest of the shares were distributed to Strategic shareholders, on the basis of 1 Trifecta share for every 4.5 Strategic shares. Continue Reading →

Head north to understand why Canada needs an infrastructure bank – by Pierre Gratton (Globe and Mail – June 18, 2017)

https://www.theglobeandmail.com/

Pierre Gratton is president and CEO of the Mining Association of Canada.

Any government initiative with a $35-billion price tag is bound to drum up political debate, and the Canada Infrastructure Bank (CIB) has been seeing its fair share. But I stand with the International Monetary Fund, Canadian and global business groups, and aboriginal organizations who say that the CIB, if well structured, is exactly what Canada needs to grow the economy over the long term. Bold action is needed to address an area that we’ve been failing at: constructing strategic, nation-building infrastructure.

Many of you are probably reading this on a digital device connected to wireless high-speed Internet. And I’ll assume that many of you are reading this at work, a place that you travelled to on roads, and that is powered by the electrical grid. Pretty mundane stuff, right? But it’s not if you’re living or working in remote and northern areas of Canada.

I should know. I represent a major Canadian industry whose opportunities for growth are increasingly in areas where infrastructure simply does not exist, or is severely lacking. Continue Reading →

KIA signs gold mine benefit deal with Agnico Eagle (CBC News Canada North – June 16, 2017)

http://www.cbc.ca/news/canada/north/

The KIA and Agnico Eagle have signed an Inuit Impact Benefit Agreement regrading the Whale Tail gold deposit

Officials from the Kivalliq Inuit Association (KIA) and Agnico Eagle Mines Ltd. signed the Whale Tail Inuit impact benefit agreement (IIBA) in Baker Lake, Nunavut, on Thursday. In 2019, the mining company hopes to begin open pit operations at the Whale Tail gold deposit, approximately 50 kilometres north of the Meadowbank gold mine.

The Whale Tail agreement includes a $6.5 million payment to KIA — including $3 million given on June 15 to a community initiative fund. Other benefits include a 1.4 per cent cut of net gold production, $3.6 million in funding for annual training programs (with an additional $1 million in training investment if Inuit employment goals are not reached), and a preference point system to Nunavut Tunngavik Inc. registered companies.

“KIA has strived to balance the need to protect the environment with the promotion of economic development,” stated David Ningeongan, KIA president, in a press release. Continue Reading →