Archive | British Columbia’s Golden Triangle Mining District

A New Canadian Gold Rush: Reviving British Columbia’s Golden Triangle Mining District (Investing News Network – October 16, 2018)

Investing Network News

This article is sponsored by IDM Mining: http://www.idmmining.com/

British Columbia’s Golden Triangle mining district is known for million-ounce gold deposits.

Located in the northwestern area of the province, the region first gained prominence with the 1988 discovery of Eskay Creek, which would become one of the world’s largest silver mines. However, a lack of infrastructure in the mountainous region and a low gold price environment left the district vastly underexplored.

And yet, the landscape is changing, both geologically and economically, making today’s Golden Triangle a hot bed for exploration activity that is quickly becoming the center of a new Canadian gold rush.

British Columbia’s Golden Triangle mining district lies in the wide volcanic belt North American Cordillera and extends from the south near Stewart, British Columbia and heads north to the Alaskan panhandle, another important source of gold and other economically important minerals. Continue Reading →

[IDM Mining] Stewart leaders support Red Mountain Mine – by Shane Lasley (North of 60 Mining News – October 11, 2018)

https://www.miningnewsnorth.com/

IDM Mining Ltd. Oct. 8 announced that it has been issued the provincial environmental assessment for its proposed Red Mountain gold-silver mine, a milestone that was heralded by First Nations, municipal and provincial leaders from the area of northwestern British Columbia where the underground mine is to be developed.

“Responsible natural resource development is an important part of our government’s plan to develop sustainable economies in rural B.C, with mining a cornerstone industry in the Northwest. We applaud the hard work by IDM and all stakeholders that contributed to this decision to advance the Red Mountain gold project,” said Hon. Doug Donaldson, MLA (member of the legislative assembly) for Stikine.

In 2017, IDM submitted the application for an underground gold mine at Red Mountain; mill and tailings site in the adjacent Bitter Creek Valley; water treatment facilities; access road from Highway 37 just north of Stewart, BC; and powerline interconnection from BC Hydro grid. Continue Reading →

Investors keep the faith in B.C.’s Golden Triangle mining despite recent setbacks – by Garbriel Friedman (Financial Post – September 15, 2018)

https://business.financialpost.com/

Decades before he started exploring for minerals in British Columbia’s Golden Triangle, Hugh ‘Mac’ Balkam said he used to investigate stock fraud with the Royal Canadian Mounted Police.

So last week when a hedge fund levelled explosive accusations of fraud against a miner in his district, Pretium Resources Inc., the company behind one of the highest grade gold mines in Canada, and its stock started sinking, Balkam thought about his own investment portfolio.

“Myself, I actually sold some bank stock and bought more Pretium,” said Balkam, chief executive of Toronto-based Eskay Mining Corp. “I think that stock is worth a lot more.” Continue Reading →

Site visit: IDM keen on Red Mountain in Golden Triangle – by Colin Desmond (Northern Miner – September 12 2018)

http://www.northernminer.com/

STEWART, BRITISH COLUMBIA — Vancouver-based IDM Mining (TSXV: IDM; US-OTC: IDMMF) is steadily advancing its wholly owned Red Mountain gold project in northwestern British Columbia’s Golden Triangle region.

“We are about to have one of the few shovel-ready mines in Canada, and it’s going to do the one thing the mining business hasn’t lately — generate significant cash flow,” IDM president and CEO Robert McLeod tells The Northern Miner on a visit to the project.

Red Mountain stands between the Cambria Icefield and its largest outlet, the Bromley Glacier. From the nearby town of Stewart, it is a 10-minute helicopter ride. Placer mining began in the valley below Red Mountain in the early 1900s, when prospectors were leading Stewart’s first wave of European settlement. Continue Reading →

Viceroy Says It’s Shorting Canadian Miner Pretium Resources – by Natalie Obiko Pearson (Bloomberg News – September 6, 2018)

https://www.bloomberg.com/

Viceroy Research said it’s shorting Pretium Resources Inc., arguing the company has artificially inflated the value of its Canadian gold mine, which risks being taken over by creditors in coming months.

The New York-based short seller — which rose to prominence last year with research into financial irregularities at South African retail giant Steinhoff International Holdings NV — released a report Thursday saying Vancouver-based Pretium has distorted results from its Brucejack gold mine in the northwest province of British Columbia.

“Our mine valuation – coupled with Pretium’s overleveraged balance sheet – lead us to believe Pretium equity is effectively worthless,” Viceroy said in the report. Continue Reading →

NEWS RELEASE: IDM Mining’s Red Mountain Gold Project Environmental Assessment Referred to Provincial Ministers for Decision

http://www.idmmining.com/

VANCOUVER, Aug. 29, 2018 /CNW/ – IDM Mining Ltd. (TSX.V:IDM) (OTCQB:IDMMF) (“IDM” or the “Company”) is pleased to announce that the British Columbia Environmental Assessment Office (“EAO”) has completed the Application Review phase for the proposed Red Mountain Gold Project (“Red Mountain” or the “Project”).

The EAO has referred the Company’s Application for an Environmental Assessment Certificate (“EAC”) to the Minister of Environment and Climate Change Strategy and the Minister of Energy, Mines and Petroleum Resources for a decision. In accordance with the Environmental Assessment Act, Ministers have up to 45 days to decide whether to issue a certificate, not issue a certificate, or require further assessment. Referral materials and the Ministers’ decision will be posted on the EAO website within the next 45 days.

In 2017, IDM submitted the Application for an underground gold mine at Red Mountain, mill and tailings site in the adjacent Bitter Creek Valley, water treatment facilities, access road from Highway 37 just north of Stewart, BC and powerline interconnection from BC Hydro grid. Continue Reading →

IDM Mining expects environmental permits for Red Mountain by Sept. – by Cecilia Jamasmie (Mining.com – May 14, 2018)

http://www.mining.com/

Canada’s IDM Mining Ltd. (TSX-V:IDM) (OTCQB:IDMMF), one of the several companies developing projects in British Columbia’s prolific Golden Triangle, said Monday it expected to receive the necessary environmental permits for its proposed Red Mountain mine in the third quarter of the year.

The Vancouver-based junior, which is working on a resource update for its gold-silver project, located just 15 km east of Stewart, B.C., said it would release the new estimate by mid-June.

It also noted it would complete an updated feasibility study in the second half of this year. That report, IDM said, will incorporate up to date estimates, an optimized mine plan, as well as capital and operating efficiencies. Continue Reading →

First Nation and British Columbia to share gold mine tax revenue – by Valentina Ruiz Leotaud (Mining.com – May 11, 2018)

http://www.mining.com/

The government of the Canadian province of British Columbia and the Nisga’a Nation signed an agreement today that ensures that the latter receives a share of the mineral tax revenue collected from the Brucejack Gold Mine.

The project, owned and operated by Pretium Resources (NYSE:PVG), is an underground mine that has been operational since April 2017. It is located 65 kilometres north of the town of Stewart on a land package of more than 122,000 hectares.

Back in March, the mine reached record production of 32,910 ounces, while overall output for the first quarter of 2018 was 75,689 ounces. Continue Reading →

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 →