The summer field season is in full bloom across Alaska with programs stretching from the Brooks Range to southeastern Alaska, and from the Yukon border to southwestern Alaska. Exploration targets range from grassroots to mine-site, focused on commodities including gold, silver, lead, zinc, copper, cobalt and graphite.
For Alaska’s exploration industry, planned, announced and estimated expenditures are well over the $100 million mark for 2018. This expenditure level is well above last year’s levels and almost double the $58 million spent at the bottom of the market in 2015.
Canadian and Australian companies continue to be the source for the bulk of funds spent in Alaska in 2018, together comprising well over 80 percent of the exploration expenditures earmarked for Alaska.
Graphite One Resources announced that it had closed a C$2.1 million financing, primarily for use at its Graphite Creek graphite project near Nome. Shortly after that, the company announced that it had hired Stan Foo as chief operating officer of its subsidiary, Graphite One (Alaska) Inc. Congratulations Stan!
Riversgold Ltd. announced updated plans for 2018 exploration at its gold projects in southwestern Alaska. Efforts will include refinement of drill targets at Luna, Luna East and Quicksilver using a combination of induced polarization (IP) and surface geochemical sampling surveys; project-wide geological mapping of the Luna-Quicksilver prospect using the detailed helimagnetic survey data flown in mid-2017;