Archive | Junior Exploration Sector

Bigger than Voisey’s: Canada Nickel files PEA for Crawford mine in Ontario – by Cecilia Jamasmie (Mining.com – July 12, 2021)

https://www.mining.com/

Canada Nickel Company (TSX-V: CNC) announced on Monday it had filed a preliminary economic assessment (PEA) for the Crawford nickel sulphide project in Ontario, almost a year after exploration drilling began at the asset.

The PEA envisions a conventional open pit mine and mill that will produce both nickel and magnetite concentrates over a mine life of 25 years.

The operation is set to generate 2.05 tonnes of carbon dioxide per tonne of nickel-equivalent production in the period — 93% lower than the industry average of 29 tonnes of CO2. Continue Reading →

Timmins gold explorer makes new discovery – by Staff (Northern Ontario Business – July 13, 2021)

https://www.northernontariobusiness.com/

Galleon Gold intends to release preliminary economic assessment for open-pit mine in September

Galleon Gold has made a new gold discovery at its West Cache Gold Project, west of Timmins, where it wants to develop an open-pit mine.

The Toronto junior miner reports finding multiple gold zones in a mineralized area that it’s calling the South Area Discovery. West Cache is 13 kilometres west of Timmins. Highway 101 runs through the 3,700-hectare property.

The company has been talking up West Cache’s “blue sky potential” since kicking off a 46,000-metre drill program in June 2020 that’s continued well into this year. Continue Reading →

Exploration roundup: The search for battery metals charges up these Temiskaming junior miners – by Staff (Northern Ontario Business – June 15, 2021)

https://www.northernontariobusiness.com/

Untapped resources of silver and cobalt bring out the drill rigs to historic northeastern Ontario mine properties

A surge of exploration activity is taking place in the historic mining camps of the Temiskaming area as junior miners poke holes and survey ground in looking for new veins of silver and bypassed stockpiles of cobalt, needed for the electric vehicle market and to feed the critical minerals supply chain.

A steady diet of high-grade silver results have been emanating from a former Temiskaming silver mine where Vancouver junior miner Brixton Metals has been exploring an unmined portion of its 3,200-hectare property.

The company released the last batch of drill results from an 18,000-metre fall and winter drilling program at its Langis Project, situated just north of Lake Temiskaming and very close to the Québec border. Continue Reading →

Ginoogaming First Nation gold mine lawsuit charts new legal ground – by David P. Ball (Windspeaker.com – June 2, 2021)

https://windspeaker.com/

A First Nation is taking the Ontario government and gold explorers to court to prevent mining activity on 260 square kilometres of the Nation’s territory.

On Tuesday, Ginoogaming First Nation went to the Ontario Superior Court seeking an injunction against mining activities until the Nation can argue its full legal rights.

At stake is a sacred area of land in Ginoogaming territories known as Wiisinin Zaahgi’igan, which roughly translates to English as “the place where you get food.” But the Nation says it is much more than that. Continue Reading →

JV Article: Kirkland Lake Gold partnership could lead to world-class discoveries, says Stephen Stewart of Orefinders and Mistango – by Staff (Northern Miner – May 30, 2021)

Global mining news

A new strategic partnership and equity investment by Kirkland Lake Gold (TSX: KL; NYSE: KL; ASX: KLA) into Orefinders Resources (ORX: TSXV) and Mistango River Resources (CSE: MIS) will allow the two Canadian juniors to “unlock the full potential of their assets,” says Stephen Stewart, CEO of Orefinders and chairman of Mistango.

Under the proposed partnership agreement, Kirkland Lake Gold has acquired a 9.9% stake in each of the juniors. Additionally, Kirkland Lake will also have the option to acquire up to a 75% interest in specific projects under the companies’ portfolio of assets in exchange for a total combined $120 million investment.

This is the second high-profile investment that Orefinders and Mistango have received in the last year as billionaire investor, and former chairman of Kirkland Lake Gold, Eric Sprott has made four separate investments into the two companies over that period. Continue Reading →

Newmont completes acquisition of GT Gold – by Cecilia Jamasmie (Mining.com – May 17, 2021)

https://www.mining.com/

Newmont (NYSE: NEM) (TSX: NGT), the world’s No. 1 gold miner, completed on Monday the acquisition of GT Gold, after it grabbed the remaining 85.1% of common shares of the Canadian explorer it did not already own.

The C$393 million ($325m) cash deal, first announced in March, gives the US-based gold giant the Tatogga gold-copper project, located in the Traditional Territory of the Tahltan Nation.

“With the acquisition of GT Gold and the Tatogga project in the highly sought-after Golden Triangle district of British Columbia, Canada, Newmont continues to strengthen our world-class portfolio,” Newmont president and CEO Tom Palmer said in the statement. Continue Reading →

Drill rigs turning for gold, palladium discoveries on Superior’s North Shore – by Staff (Northern Ontario Business – May 14, 2021)

https://www.northernontariobusiness.com/

Exploration boom in the northwest continues for precious, industrial and ‘green’ metals

Gold and palladium exploration continues to dominate activity along the north shore of Lake Superior.

A mix of junior miners are either securing an initial foothold in northwestern Ontario, drilling off deposits, or approaching environmental and regulatory milestones in advancing their projects toward production.

Sudbury’s Manitou Gold is picking up the pace of exploration at its Goudreau Project, outside Dubreuilville. Since raising $5 million in financing last month, the company boosted its drill program from 10,000 metres to 30,000 metres. Continue Reading →

Australia announces A$100m commitment to junior mining exploration – by Mariaan Webb (MiningWeekly.com – May 5, 2021)

https://www.miningweekly.com/

Australian Resources Minister Keith Pitt on Wednesday announced a A$100-million funding boost for exploration, extending the junior minerals exploration incentive (JMEI) for another four years in a move to attract new investors.

The JMEI, which allows eligible companies to access tax incentives, encourages companies to explore for resources in untapped areas of Australia. To date, it has supported 85 junior exploration companies, half of which are headquartered in Western Australia.

“We need to ensure that we have a continuous investment pipeline for development across regional Australia,” said Pitt. “Our successful, stable and secure resources sector is underpinned by our world-class junior explorers.” Continue Reading →

BCSC halts trading in Valorem, one of four miners targeted in apparent pump-and-dump scam – by Niall McGee (Globe and Mail – May 4, 2021)

https://www.theglobeandmail.com/

The British Columbia Securities Commission has halted trading in Valorem Resources Inc., one of four small Canadian mining companies targeted this year by an apparent international “pump and dump” ring that has caused stock market chaos.

The provincial securities regulator said it made the decision to halt trading in the Canadian Securities Exchange-listed exploration company after its share price ran up by 62 per cent and its volume jumped by 238 per cent.

The increases followed “unsubstantiated statements” about Valorem on a website called The Financial News. Continue Reading →

US Department of Energy provides funds for First Cobalt’s Iron Creek project – by Staff (Northern Miner – April 2021)

Global mining news

The U.S. Department of Energy’s Critical Materials Institute is giving Toronto-based junior First Cobalt (TSXV: FCC; US-OTC: FTSSF) US$600,000 over two years for research on mineral processing techniques for the company’s Iron Creek copper-cobalt project in Idaho.

The funding, matched by the company, will be spent on “identifying more efficient and environmentally friendly methods to process cobalt ore from pyrite material,” First Cobalt announced in a press release, and will be part of a “collaborative research effort” with the Colorado School of Mines’ Kroll Institute for Extractive Metallurgy (KIEM).

Trent Mell, First Cobalt’s president and CEO, said the company plans to build an underground mine and processing facility at Iron Creek and “can take advantage of new and emerging technologies that reduce waste material coming out of the mine and reduce the amount of energy required to process the ore.” Continue Reading →

Cobalt hunter eyes Gowganda, Elk Lake for processing hub – by Staff (Northern Ontario Business – April 26, 2021)

https://www.northernontariobusiness.com/

Battery Mineral Resources posts resource estimate of cobalt and silver deposit

Battery Mineral Resources (BMR) has come out of the shadows to post a first-time resource for a cobalt and silver property, southwest of Gowganda.

The low key Vancouver-based explorer, formerly known as Fusion Gold, released a maiden resource of more than a million pounds of cobalt at its McAra Project, according to an April 22 news release.

As the largest claims holder in the historic Gowganda-Cobalt silver mining camp, BMR thinks there’s enough mine potential among its nine exploration properties clustered in this area to consider establishing a processing plant. Continue Reading →

Ontario budget boosts funding for exploration, mine rescue – by Kelsey Rolfe (Northern Miner – April 27, 2021)

Global mining news

The Ontario government is launching a new program to fund junior exploration in the province and upping financial support for the Ontario Mine Rescue program.

The province’s 2021 budget, which laid out the initiatives, was tabled on March 24 and was passed on April 26. The document sets out $23 billion in spending targeted at bolstering the provincial economy, and $16.3 billion for health-related measures. Ontario projected a $38.5 billion deficit in 2020-21, which it expects to slowly reduce to eventually reach $20.2 billion in 2023-24.

As part of the government’s plan to increase jobs and economic activity in northern Ontario, the budget set out $5 million over the next two years for the new Ontario Junior Exploration Program (OJEP). Continue Reading →

Proposed mining threatens Grassy Narrows First Nation’s long struggle for environmental justice – by Megan Youdelis, Faisal Moola, Justine Townsend and Jonaki Bhattacharyya (Toronto Star – April 24, 2021)

https://www.thestar.com/

Indigenous peoples have been stewarding their lands and waters for millennia, and there is increasing legal recognition that Indigenous and treaty rights must be a fundamental consideration in how such lands are governed.

Yet, under Ontario’s online prospecting system, anyone can register a mining claim on Indigenous territories for a paltry $50 per parcel — without ever visiting the territory, let alone having obtained the consent of the Indigenous people who live there.

Ontario insists that under provincial mining regulations, it can award mining claims and permit mining exploration and extraction against the will of Indigenous communities. Continue Reading →

Regulators to take steps against short selling – by Kelsey Rolfe (CIM Magazine – April 23, 2021)

https://magazine.cim.org/en/

Canada is making changes to curb the practice of predatory short selling, a thorn in the side of junior mining companies

In the wake of growing concern from public companies, Canadian regulators have turned their attention to tightening the rules that govern short selling.

Short sellers – investors who bet against public companies by borrowing shares and immediately selling them with the expectation the price will drop so they can repurchase at a lower value – serve an important price-discovery role in the public market and have even unearthed cases of fraud and corporate malfeasance.

But experts say Canada’s lax regulations around the practice have allowed “short and distort” campaigns (spreading negative rumours about a company to artificially drive its value down) and other abusive forms of short selling to flourish in the country. Continue Reading →

Kirkland Lake Gold prepared to sink multi-millions in northeast exploration (Northern Ontario Business – April 22, 2021)

https://www.northernontariobusiness.com/

Gold miner takes ownership stake, sign option agreements with Orefinders Resources, Mistango River Resources

Kirkland Lake Gold has taken an ownership position in two gold exploration sister companies in the Kirkland Lake camp and is prepared to spend up to $120 million on exploration.

In what’s being framed as a strategic partnership and a potential joint venture opportunity, Kirkland Lake Gold is acquiring a 9.9 per cent interest in Orefinders Resources and Mistango River Resources. Both junior companies are under the direction of Stephen Stewart.

Orefinders is sending 24.4 million common shares Kirkland Lake Gold’s way in return for more than $2.4 million. Continue Reading →