Gold Rush II: Exploration and Mining in the Yukon (Investing News Network – December 18, 2018)

Investing News Network

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The Klondike Gold Rush helped to define a region, and a second Yukon gold rush is only just beginning to inspire further exploration and mining in the Yukon.

The remote Northwestern Canadian territory of the Yukon is known to people the world over largely due to the events that took place between 1896 and 1899. The Klondike Gold Rush brought tens of thousands of people to the previously barely known region and those four short years created numerous stories of adventure and riches that today live on as legend and define the remote territory.

Over the century since, the Yukon’s mining industry has continued to be the primary source of economic development in the region, as it features a wealth of resources matched by few other places on earth. Today, the Yukon is in the midst of what has been described as a second gold rush, driven by high precious metal values and the discovery of yet another ‘once in a generation’ gold trend.

A wave of nearly $1 billion in Yukon mining investment since 2010 has signified the rush. The Yukon’s 21st century gold rush probably won’t be the stuff of romanticised legend like its predecessor, but for resource exploration companies in the area, it’s no less exciting.

The Yukon remains one of the world’s prime destinations for gold exploration and development. Despite the long history of exploration, the territory still has much more to offer. The gold mining that has traditionally been carried out in the Yukon has been from placer deposits associated with the territory’s rivers and gravel beds with over 20 million ounces of gold mined from the territory’s gravels to date.

The Yukon’s bedrock, however, remains largely unexploited. Recent gold discoveries and development in the region like Goldcorp’s (TSX:G,NYSE:GG) Coffee project and Victoria Gold’s (TSXV:VIT) Eagle projects are testaments to the metal endowment that remains in the area. Besides gold, the Yukon is host to around 2,700 known mineral occurrences with established reserves of copper, iron, silver, tungsten, zinc and lead.

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