Archive | British Columbia’s Golden Triangle Mining District

First Nations push for massive conservation area in northern B.C. – by Laura Kane (Canadian Press/CTV News – June 12, 2019)

https://bc.ctvnews.ca/

LOWER POST, B.C. – First Nations in northern British Columbia are calling on the provincial government to endorse an ambitious proposal for a 40,000-square-kilometre conservation area to protect major watersheds and sensitive species.

The proposal would cover the ancestral areas of three Kaska Dena First Nations and would be larger than Vancouver Island, taking up a massive section of north-central B.C.

Premier John Horgan’s government hasn’t said whether it supports or opposes the idea after seven months of phone calls, letters and meetings with officials from various ministries, say the project’s proponents. Continue Reading →

Australia’s Newcrest Mining takes 70 per cent stake in B.C. mine from Imperial Metals – by Niall McGee (Globe and Mail – March 11, 2019)

https://www.theglobeandmail.com/

One of Australia’s largest miners is buying a majority interest in a B.C. mine from Imperial Metals Corp. for US$806-million, providing a cash injection for the struggling Vancouver company that is backed by billionaire executive Murray Edwards.

Melbourne-based Newcrest Mining Corp. struck a deal on the weekend for 70 per cent of Imperial’s Red Chris property, a mine that opened three years ago and last year produced 12,000 ounces of gold.

Imperial’s board has been conducting in a strategic review of the business as it tries to get out of financial trouble. In 2014, a catastrophic tailings dam failure forced Imperial to suspend operations at its Mount Polley copper-gold mine in British Columbia for almost a year. Imperial has also dealt with operating problems at Red Chris since it started production in 2015. Continue Reading →

IDM Mining, Ascot Resources to join forces – by Shane Lasley (North of 60 Mining News – January 11, 2019)

https://www.miningnewsnorth.com/

IDM Mining Ltd. and Ascot Resources Ltd. are joining forces to create a premier mine development and exploration company with two high-grade gold-silver mine projects near Stewart, a mining town in northwestern British Columbia’s Golden Triangle.

“The combination of Ascot and IDM creates a very attractive opportunity in northwest British Columbia’s Golden Triangle for our shareholders and stakeholders,” said Ascot Resources President and CEO Derek White. “Based near the historic mining town of Stewart, this area has hosted several prominent, profitable, and high-grade gold mines and we see that similar potential going forward.”

In an all-shares deal announced on Jan. 7, IDM shareholders would be issued 0.0675 shares for every IDM share held. The value of this buy-out works out be roughly C8.6 cents per IDM share, or about C$41.35 million, which is a 54 percent premium to IDM shareholders. Continue Reading →

Site visit: IDM keen on Red Mountain in Golden Trianglev – by Rutendo Munatsirei Mining.com – November 1, 2018)

http://www.mining.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 →

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 →