Archive | British Columbia’s Golden Triangle Mining District

NEWS RELEASE: GT Gold Partners With First Nations and BC Government to Found BC Regional Mining Alliance

VANCOUVER, British Columbia, April 16, 2018 (GLOBE NEWSWIRE) — GT Gold Corp. (“GT Gold” or the “Company”) (TSX-V:GTT) is pleased to announce that it has joined the Tahltan and Nisga’a First Nations, the BC Government, AME BC, and industry peers, to establish the BC Regional Mining Alliance (“BC RMA”).

The BC RMA is a collaborative effort designed to promote the Golden Triangle area of northwestern B.C. as an attractive destination for mineral exploration and mine development investment.

The Golden Triangle hosts many of the most important discoveries and new mines in the province, including GT Gold’s unfolding Saddle discovery (2017), Pretium’s rich new Brucejack Mine, and Imperial Metals’ Red Chris operation. Continue Reading →

Seabridge goes the extra enviro mile with Johnny Mountain, Bronson mine clean-ups – by Henry Lazenby (MiningWeekly.com – February 28, 2018)

http://www.miningweekly.com/

VANCOUVER (miningweekly.com) – Precious metals-focused project developer Seabridge Gold has undertaken significant effort to remediate the historic mining activities at the Johnny Mountain and Bronson mines, in north-western British Columbia, spending about C$6-million to date to ensure that the Iskut project is in compliance with the provincial regulations and authorisations.

Seabridge acquired the SnipGold properties late in 2016, inheriting a stable of active permits for the Iskut project, including four mining/mineral exploration permits at Johnny Mountain, the Iskut property, the Golden Triangle property and the Snip North property, as well as two licences of occupation covering the Bronson Slope airstrip and an adjacent property, which houses the camp and storage buildings.

These permits are in good standing and authorise all of the work planned for the 2018 programme, including mineral exploration, further reclamation and supporting activities such as camp construction. Continue Reading →

What happens when ‘kingmaker’ Eric Sprott backs your penny mining stock – by Gabriel Friedman (Financial Post – March 1, 2018)

http://business.financialpost.com/

The billionaire investor has injected $10 million in a company exploring for nickel in B.C.’s Golden Triangle — an area that has been mined for a century without much nickel ever being found

One Friday afternoon not so many months ago, Canadian billionaire Eric Sprott was sitting in a leather wingback chair in a dimly lit room, talking about a junior mining company that he just can’t stop investing in.

The company, Garibaldi Resources Corp., is in the earliest stages of exploring for nickel in British Columbia’s Golden Triangle, an area that has been relentlessly explored and mined for a century without much nickel ever being found.

Nevertheless, Sprott was enamoured: He compared the area to Voisey’s Bay, also a nickel deposit, and likely the largest metal discovery in Canada in the past 40 years. That find has turned out to be worth billions of dollars.
“It just keeps coming together,” Sprott said about Garibaldi, turning to an interviewer on his left during a video that will be posted on YouTube. That Garibaldi has never had any revenue passes without comment. Continue Reading →

Seabridge dealing with damages from previous mining activities in northern BC – by Valentina Ruiz Leotaud (Mining.com – February 12, 2018)

http://www.mining.com/

The Association of Mineral Exploration in British Columbia recently awarded Seabridge Gold (TSX: SEA)(NYSE:SA) the 2017 Robert R. Hedley Award for excellence in social and environmental responsibility at its KSM project, which the company says is one of the largest undeveloped gold projects in the world measured by reserves.

Inspired by the work at KSM, Brent Murphy, Seabridge Vice President of Environmental Affairs, decided to replicate the experience at Iskut, the firm’s second project in northern BC, which was obtained with the closing of Seabridge’s acquisition of SnipGold Corp. in June 2016.

The 29K-hectare property is located some 110 km northwest of Stewart and includes the former high-grade gold Johnny Mountain Mine and the copper-gold Bronson Slope deposit. Continue Reading →

Exclusive interview: Pretium’s Ovsenek responds to Brucejack ramp-up criticisms – by Matthew Keevil (Northern Miner – January 29, 2018)

Northern Miner

On Jan. 23, Pretium Resources (TSX: PVG; NYSE: PVG) provided an update on the ramp-up of its flagship Brucejack underground gold mine in northwestern B.C.’s Golden Triangle district.

The company was criticized by BMO Capital Markets for providing “more questions than answers” following a release that included lower-than-expected mine grades and higher all-in sustaining costs (AISC).

Pretium’s stock had dropped over 30% to a 52-week low of $9.18 per share on the Toronto Stock Exchange (TSX), on 13.3 million shares traded at the time of writing on Jan. 29. Continue Reading →

Revamped Barrick harkens back to founding principles as ‘new generation’ of discovery, partnerships beckon – by Henry Lazenby (MiningWeekly.com – January 23, 2018)

http://www.miningweekly.com/

VANCOUVER (miningweekly.com) – The world’s largest gold producer by output Barrick Gold is looking towards a more sustainable future based on a leaner, more tightly owned portfolio, with future growth increasingly hinging on forming synergistic partnerships with former mining rivals.

With the gold price off to a strong start in the first few weeks of 2018, up 2.32% since the start of the year and trending above the psychological $1 300/oz mark, Barrick president Kelvin Dushnisky told attendees at a Vancouver mining conference that the company had come full circle in the aftermath following gold’s historic bull run through the 2011s.

He recounted those years as ranking among the most difficult in the gold major’s history. “It was partnerships that laid the foundation for Barrick. Partnership has been at the heart of our culture from Barrick’s earliest days, personified by visionary entrepreneur Peter Munk, and operations manager Bob Smith,” he said. Continue Reading →

Pretium shares are tanking after Brucejack ramp up disappoints – by Frik Els (Mining.com – Janaury 23, 2018)

http://www.mining.com/

Shares in Pretium Resources Inc (NYSE:PVG) tanked on Tuesday after the company announced disappointing production and cost forecasts from its Brucejack gold-silver mine in British Columbia.

During lunchtime trade the Vancouver-based producer was exchanging hands for $7.95 a share, down 26.3% on the New York Stock Exchange, in massive volumes of more than 10m shares traded. Pretium is now worth $1.9 billion down 37% from its year high hit early February.

In a statement Pretium said after six months of ramp-up at the Brucejack mine in the northwest of the Canadian province, production totaled 152,484 ounces of gold, but fourth quarter output was nearly 12,000 ounces below the prior quarter. Gold recoveries declined to 95.8% in the quarter compared to the previous three months. Continue Reading →

Site visit: IDM Mining pursues dual upside at Red Mountain – by Matthew Keevil (Northern Miner – January 11, 2018)

Northern Miner

STEWART, B.C. — An aura of history surrounds IDM Mining‘s (TSXV: IDM; US-OTC: RVRCF) Red Mountain gold property, 18 km northeast of the town of Stewart, British Columbia.

That history is especially acute for president and CEO Robert McLeod, who has long-standing family ties to the local community and cut his teeth as an exploration geologist at the project with Lac Minerals back in the early 1990s.

Red Mountain has near-term production potential and exploration upside across a 170 sq. km land package that has seen limited systematic work. The region was abuzz with helicopter activity during The Northern Miner’s visit in September 2016, due to renewed interest in B.C.’s Golden Triangle near the western margin of the Stikine terrain. Continue Reading →

NEWS RELEASE: Skeena Secures Option to Acquire Eskay Creek & Announces Strategic Investment from Barrick (December 18, 2017)

https://www.skeenaresources.com/

Vancouver, BC (December 18, 2017) Skeena Resources Limited (TSX.V: SKE) (“Skeena” or the “Company”) is pleased to announce the signing of an agreement with Barrick Gold Inc. (“Barrick”), granting an option (the “Option”) for the Company to acquire a 100% interest in the past-producing Eskay Creek property (“Eskay” or the “Property”) located in the Golden Triangle of northwest British Columbia. Barrick Gold Corporation will also complete a strategic investment with the Company for gross proceeds of C$1 million.

Skeena’s CEO, Walter Coles Jr. commented, “Eskay Creek was a remarkable discovery that became an extraordinary mine. It produced 3.3 million ounces of gold and 160 million ounces of silver from 2.2 million tonnes of ore from 1994 until closure in 2008. We are honoured that Barrick has given us an opportunity to investigate and potentially revitalize one of Canada’s highest-grade past-producing mines.”

Under the terms of the option agreement, Skeena may acquire a 100% interest in Eskay in consideration for: Continue Reading →

Brucejack turns heads at mining convention – by Quinn Bender (Terrance Standard – December 14, 2017)

https://www.terracestandard.com/

Northwest projects awarded for excellence

The Northwest is strongly represented this year as the Association for Mineral Exploration awards those who have made a significant contribution to the industry in 2017.

The awards ceremony will be held Jan. 24 during the AME’s annual Roundup Conference, under a theme of a “new generation of discovery”. Diane Nicolson, chair of the AME board of directors, said in a press release the recipients each have set the stage for future success in the mining industry.

“These individuals and teams, through their efforts in exploration, development and outreach are representative of that theme, having made or facilitated the discovery and creation of new mines which will bring benefits to communities throughout British Columbia and Canada. The Awards Gala at Roundup is an opportunity for us all to acknowledge and celebrate their accomplishments.” Continue Reading →

[IDM Mining] Another jewel in B.C.’s Golden Triangle? – by Nelson Bennett (Business Vancouver – December 12, 2017)

https://www.biv.com/

High-grade Red Mountain gold project enters environmental review

In 2014, BC Hydro completed the $746 million, 344-kilometre Northwest Transmission Line to electrify the northwest corner of B.C. – known as the Golden Triangle because of all the undeveloped gold and copper deposits in that region.

The first new mine to be built in the Golden Triangle was Imperial Metals’ (TSX:III) Red Chris copper mine. It was followed by Pretium Resources Inc.’s (TSX:PVG) Brucejack gold mine. That’s two down, and about 10 more to go.

So, what is likely to be the next new mine to be built in the Golden Triangle? Although the Seabridge Gold (TSX:SEA) KSM copper-gold mine already has its environmental permits, some industry insiders say the $5.5 billion mine is a “generational” project – something so massive that it might take many years and sustained higher copper prices before it gets financed. Continue Reading →

NEWS RELEASE: Garibaldi nickel drilling results near Eskay Creek prompt comparison with Sudbury deposits (Resource World Magazine – December 11, 2017)

http://resourceworld.com/

Shares of Garibaldi Resources Corp. [GGI-TSXV, GGIFF-OTC] retreated Monday December 11 as investors continued to assess drilling results from its 100%-owned E&L Project at the Nickel Mountain property near Eskay Creek in the Golden Triangle region of northwest British Columbia.

On December 8, 2017, the company said Discovery Hole EL-17-14 returned a 40.4-metre mineralized zone, featuring a massive sulphide intersection with rich grades of nickel and copper over 16.75 metres. The company said Hole EL-17-14, was collared 200 metres east of the historic E&L deposit and drilled towards the west-southwest.

It returned 8.3% nickel, and 4.2% copper over 16.75 metres with a broader 40.4-metre section grading 3.9% nickel and 2.3% copper from 100.4 to 140.8 metres (approximate true width). The 16.75-metre massive sulphide intercept also included 6.4 g/t combined platinum-palladium, 0.19% cobalt, 1.1 g/t gold and 11.1 g/t silver. Continue Reading →

[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 →