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Canada Mining – North of 60

What’s Under Darnley Bay?: The North’s biggest potential mining project is also its most mysterious – by Tim Edwards (Up Here Magazine – November 19, 2015)

https://uphere.ca/

At first, it was just another shooting star. But as it moved past the constellations, behind ribbons of aurora, it became larger, brighter. It was heading for Earth. A few prehistoric creatures, swimming through the water on an Arctic bay that would one day be named for a British nobleman and cricketer, might have looked skyward, with the impression that something was off.

But it was likely too late. When the meteorite hit Earth, the impact was so strong it summoned up a ring of magma from beneath the planet’s crust.

That’s a theory. Maybe none of that happened. Right now no one knows exactly what caused an anomaly that makes compasses spin wildly and affects the very gravity of the area. Or what it is. We know it’s big. The blip in gravity right by Paulatuk, NWT, hints at dense rock, and the magnetic disruption hints at iron—symptoms of nickel-copper-platinum mineralisation.

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Q&A David Garofalo: Why Goldcorp’s CEO thinks his company could be in the yukon for decades – by Herb Mathisen (Up Here Magazine – November 22, 2017)

https://uphere.ca/

In the summer of 2016, Goldcorp, one of the biggest gold-mining companies in the world, bought the Coffee Gold project in the Yukon from Kaminak for $530 million. Though the proposed mine, 130 kilometres south of Dawson City, has an estimated life of ten years, Goldcorp CEO David Garofalo believes that’s just the beginning. There’s a lot more gold waiting to be found.

Where does the Yukon figure into Goldcorp’s plans?

Whenever we’re looking at new opportunities, there are a couple things we’re looking at. We’re looking for a good mining history—receptivity to mining. Obviously the Yukon has that in spades. And what we’re also looking for is the potential for assets that can be scaled geologically and, ultimately, operationally.

While Kaminak did a tremendous job of outlining a resource of 5 million ounces on that property, they really only did exploration work on a small fraction of the overall [property.] We believe this deposit could at least double in size based on the geological prospectivity, the soil sampling done to date and the geophysical work.

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The Lost Town of Pine Point (Northwest Territories) – by Katie Weaver (Up Here Magazine – November 2, 2015)

https://uphere.ca/

A road runs through the bush in the NWT, and it tells a story of tragedy, hard truths and the circle of life

A poplar sapling has broken through the pavement in the middle of the street, reaching toward a violet twilit sky. The smell of the bush clashes with the feel of cement underfoot as I walk on the sidewalk past the tree. There are crosswalks but no traffic.

Roads but no buildings. The only thing that stands is a sign back where I turned left off Highway 6 to enter the old townsite. “Pine Point” is painted proudly upon it, with stuffed animals arranged around it on the ground and in trees. It’s a memorial. It ties my stomach in a knot, as if something terrible happened here.

Without that sign, the site would be a mystery. But with it, every memory, death, birth and anniversary held in this town still hangs in thin air. But this sadness and nostalgia was foretold from the town’s very beginnings. It was never permanent, after all. It only existed from 1964 until 1988. And now it’s gone. All I see is an eerie blend of forest and concrete. But then I look a little closer.

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Baffinland railway may be “dead,” Pond Inlet group declares – by Jim Bell (Nunatsiaq News – January 8, 2018)

http://www.nunatsiaqonline.ca/

Committee alleges QIA is in a conflict of interest

The controversial 110-kilometre railway that Baffinland Iron Mines Corp. wants to build between the Mary River iron mine and its port at Milne Inlet “may be dead in its tracks,” says a Pond Inlet hamlet committee.

In a statement released near the end of December, when Nunatsiaq News had shut down for the holiday period, the committee, which represents the Hamlet of Pond Inlet and the Mittimatalik Hunters and Trappers Organization, said they have “mounted a challenge” to Baffinland’s railway proposal.

“The Pond Inlet Hamlet Council, together with hunters and trappers organizations from several communities, have written letters, passed resolutions and submitted technical documents opposing the proposed railway,” the Pond Inlet statement said.

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Osisko Metals to acquire Pine Point zinc mine in NWT – by Trish Saywell (Northern Miner – January 8, 2018)

Northern Miner

Osisko Metals (TSXV: OM) is expanding its zinc footprint to northern Canada in a $35 million deal to acquire Pine Point Mining (TSXV: ZINC) and its Pine Point project near Hay River in the Northwest Territories.

Pine Point – once Canada’s most profitable zinc-lead mine – produced nearly 64 million tonnes of ore from 52 deposits between 1964 and 1987. Another 46 deposits on the property were identified but never put into production.

The acquisition, combined with Osisko Metal’s 50,000-hectares of zinc properties in New Brunswick’s Bathurst Mining Camp, gives the junior exploration and development company control over two world-class past-producing base metal camps.

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2017 brought cash, more big names and good news to Yukon miners – by Dave Croft (CBC News North – December 22, 2017)

http://www.cbc.ca/news/canada/north/

Several of the biggest gold producers in the world have a staked a claim on Yukon’s mineral wealth

People in Yukon’s mining industry are optimistic about the future after increased spending and other developments over the past year. Companies spent about $90 million on mineral exploration in the territory in 2017, according to Scott Casselman, the territorial government’s head of mineral services. That’s up 57 per cent from 2016, he said.

Spending on mines in the development stage was $68 million — mostly at Victoria Gold’s Eagle Gold mine north of Mayo — up from $8 million in 2016. Casselman said as of early November, placer miners had reported production of 67,000 ounces of gold, worth $87 million.

Majors bring cash and stability

“You know, I think in general it’s nice to see we’ve stopped that downward slide over the last few years. We’ve started the uptick, and hopefully we can continue on with that,” said Casselman. “It’s attributable primarily to the interest of the major mining companies that have come into the territory, over this year and last.”

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Sabina gets final project certificate, major investment for Nunavut gold mine – by Walter Strong (CBC News North – December 21, 2017)

http://www.cbc.ca/news/canada/north/

Formal approval comes day after company announced it had secured a $66M investment

A day after Sabina Gold and Silver announced it had secured a $66 million investment from a Chinese backer, the company was able to report it had received its final project certificate from the Nunavut Impact Review Board for its Back River gold mine project.

On Monday, Sabina announced Zhaojin International Mining was investing in the project through a share purchase. Once the deal is complete, the Chinese company will hold 9.9 per cent of the company, with the option to increase that holding to 19.9 per cent through future financing.

With the final project certificate in hand, the only regulatory permits remaining are two water licenses for mine construction and operation, and other less significant permits. With $38 million in cash and equivalents on hand and $66 million coming from Zhaojin, the company still has some work to do in financial markets. Sabina pegs capital expenditures to build the mine at $415 million.

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First Nations, Yukon and Canadian governments sign document to ‘reset’ YESAA relationship – by Crystal Schick (Yukon News – December 20, 2017)

On the tail of Bill C-17 becoming law, self-governing Yukon First Nations and the territorial and federal governments have signed a memorandum of understanding (MOU) on the Yukon Environment and Socio-economic Assessment Act, marking a fresh start on how all parties will handle future YESAA projects.

Council of Yukon First Nations Grand Chief Peter Johnston, Champagne and Aishihik First Nations Chief Steve Smith, Yukon Premier Sandy Silver and Minister of Crown-Indigenous Relations and Northern Affairs Carolyn Bennett made the announcement Dec. 15 following the Intergovernmental Forum in Whitehorse.

“Today was a very good day,” Johnston said during a press conference, noting that it follows several other wins for Yukon First Nations this year, including the Supreme Court of Canada’s ruling on the Peel watershed planning case and a moratorium on a federal policy that saw Ottawa clawing back money from self-governing First Nations with their own revenue sources.

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NEWS RELEASE: SABINA GOLD & SILVER ANNOUNCES 9.9% STRATEGIC INVESTMENT BY ZHAOJIN INTERNATIONAL MINING CO., LTD.(December 19, 2017)

http://www.sabinagoldsilver.com/

Vancouver, BC – Sabina Gold & Silver Corp (SBB.T), (“Sabina” or the “Company”) is pleased to announce that Zhaojin International Mining Co., Ltd. (“Zhaojin International”) has agreed to purchase 24,930,000 common shares of the Company at a price of $2.65 per share for a total investment of approximately $66,100,000 in a private placement (the “Financing”).

Upon completion of the Financing, Zhaojin International will own approximately 9.9% of the Company’s issued and outstanding common shares on a non-diluted basis. Zhaojin International is a subsidiary of Zhaojin Mining Industry Co. Ltd. (“Zhaojin”), which is a leading Chinese gold producer and one of China’s largest gold smelting companies.

“We are very excited to welcome Zhaojin, a leading Chinese gold producer, as a strategic investor. Zhaojin’s investment represents a significant milestone for Sabina and is a strong endorsement of the work completed to date at our world class Back River project. This financing with Zhaojin provides Sabina with a cornerstone investor that has financial and technical resources to assist us in advancing the project to production.

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NEWS RELEASE: Osisko Metals Announces Friendly Acquisition of Pine Point Mining (December 18, 2017)

https://www.osiskometals.com/en/

MONTRÉAL, QUÉBEC and TORONTO, ONTARIO–(Marketwired – Dec. 18, 2017) –

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Osisko Metals Incorporated (“Osisko Metals”) (TSX VENTURE:OM)(FRANKFURT:0B5) and Pine Point Mining Limited (“Pine Point”) (TSX VENTURE:ZINC) are pleased to announce that they have entered into a definitive arrangement agreement dated December 15, 2017 (the “Agreement”) pursuant to which, among other things, (i) Osisko Metals has agreed to acquire all of the issued and outstanding common shares of Pine Point, and (ii) a newly formed company (“Spinco”) will be created to hold all of the assets and liabilities of Pine Point, with the exception of the Pine Point project located in the Northwest Territories (the “Pine Point Project”), all of which is to be completed by way of a statutory plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”).

The Arrangement will result in Osisko Metals acquiring the Pine Point Project in furtherance of Osisko Metals’ stated strategy of consolidating and developing base metal assets at the mining district scale.

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Ottawa says yes to Back River gold mine in western Nunavut (Nunatsiaq News – December 11, 2017)

http://www.nunatsiaqonline.ca/

Canada’s federal government believes the Sabina Gold and Silver Corp.’s controversial Back River gold mine project should go ahead, Northern Affairs Minister Carolyn Bennett said last week in a letter to the Nunavut Impact Review Board.

This clears the way for the review board’s issuance of a project certificate to Sabina by Jan. 4, following a teleconference workshop with stakeholders they hope to hold on Thursday, Dec. 14.

And today, Sabina said in a statement that the Nunavut Water Board has started looking at the company’s Type A and Type B water license applications for the Back River project, and that they hope to get those licences by the end of March 2018.

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Back River gold mine could break ground this spring in Kitikmeot – by Sara Frizzell (CBC News North – December 07, 2017)

http://www.cbc.ca/news/canada/north/

Minister Carolyn Bennett has given Sabina Gold and Silver the go-ahead for Back River project

Sabina Gold and Silver announced Wednesday it had received approval from Carolyn Bennett, minister of Crown-Indigenous Relations and Northern Affairs, to build a gold mine approximately 400 kilometres southwest of Cambridge Bay, Nunavut.

The minister’s decision follows approval of the Back River gold mine project from the Nunavut Impact Review Board (NIRB) in July, after previously rejecting the project in 2016.

“The government of Nunavut and the Inuit associations have acknowledged for some time that resource development is an important part of their potential future, so they are always cautious about industrial development, including mining, but at the same time they’re very supportive,” said Matthew Pickard, Sabina’s vice president of environment and sustainability.

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NEWS RELEASE: Sabina Gold & Silver Reaches Major Milestone to Advance Back River Gold Project with Positive Decision from Minister of Indigenous and Northern Affairs Canada

http://www.sabinagoldsilver.com/

VANCOUVER, British Columbia, Dec. 06, 2017 (GLOBE NEWSWIRE) — Sabina Gold & Silver Corp. (TSX:SBB.T), (“Sabina” or the “Company”) is pleased to announce that it has received a positive decision from the Minister of Indigenous and Northern Affairs Canada (the “Minister” or “INAC”) that the Back River Project (the “Project” or “Back River”) may move forward to the regulatory and licensing phase which would include completion of all necessary permits to commence mine construction.

In July 2017, the Nunavut Impact Review Board (“NIRB”) completed its review of the environmental assessment of the Project and recommended to the Minister that the Project should be given approval to obtain the required permits and licenses for mine construction and operation.

In a letter dated December 5, 2017, the Minister on behalf of the five responsible federal Ministers, accepted NIRB’s recommendation. The NIRB will now work towards issuing a Project Certificate for Back River, which will attach the terms and conditions for mine development, construction, operation and eventual closure.

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Commentary: SCC decision on Peel watershed in Yukon another win for First Nations – by Bill Gallagher (Northen Miner – December 6, 2017)

http://www.northernminer.com/

First Nations have just won an important lawsuit at the Supreme Court of Canada on account that the Yukon government had tried to do an end-run on their land claim settlements.

Readers who have followed my tracking of the native legal winning streak in Canada will be familiar with my preferred wording of “Land Rights” as the catch-all phrase whereby natives typically win in the resources sector since they have constitutionally-protected land rights that the rest of us don’t.

My message to government and industry is always the same: realize that natives are resource gatekeepers in Canada and work them into the project as the key local players that they are.

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Excitement is hard to share, mines chamber says – by Chuck Tobin (Whitehorse Star – December 4, 2017)

http://www.whitehorsestar.com/

Yukoners should pay close attention as land use planning goes forward in the future, says the executive director of the Yukon Chamber of Mines. With Friday’s Supreme Court of Canada decision, the amount of land unavailable to pursue mineral exploration in the territory is now up over 50 per cent, he pointed out.

Samson Hartland said today the mining industry is very competitive around the world, and investment dollars are already tight to come by. The Yukon needs to be careful it doesn’t push itself out of that marketplace by closing the door on the industry, he suggested during an interview.

He said with several more regional land use plans still to be hashed out – Dawson City, Mayo, Whitehorse, Teslin – it’s certain there will be more land withdrawals. Land withdrawals, Hartland said, are the number one concern for the mining sector, and the industry pays attention to them.

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