Archive | Junior Exploration Sector

Timmins mine developer finetuning its processing plans – by Staff (Northern Ontario Business – February 26, 2021)

https://www.northernontariobusiness.com/

Gowest Gold reports that it has successfully completed processing of its first development ore from its Bradshaw gold deposit, north of Timmins.

The Toronto-based mine builder sent 23,000 tonnes of gold-bearing material from a bulk sample and trucked it to Northern Sun’s Redstone Mill during December and January. More than 1,000 tonnes of concentrate went to the Humon Smelter in China.

The company said gold recovery from the mill showed steady improvement as the processed advanced. This testing program remains ongoing. Continue Reading →

Cashed up junior gold stock fire sale in progress – by David Erfle (Kitco News – February 26, 2021)

https://www.kitco.com/

The 10-Year U.S. Treasury yield spiking above long-term resistance at 1.50% on Thursday for the first time in a year, forced gold prices back down to recent lows at $1,765.

U.S. bond yields have tripled since August of 2020, which has been the main culprit in pressuring the gold price to correct 16% from its all-time high of $2089 since then.

The “flash spike” in 10-year Treasury yields on Thursday worried investors and caused the major U.S. indexes to reverse Wednesday’s large gains and fall into the red. Continue Reading →

‘Stay off our lands unless given consent’: FSIN, mining firm at odds over exploration on Sask. First Nation (CTV News Saskatoon – February 24, 2021)

https://saskatoon.ctvnews.ca/

SASKATOON — The Federation of Sovereign Indigenous Nations (FSIN) is asserting that resource exploration permits from the Government of Saskatchewan have no authority on First Nations’ lands.

This comes after a Toronto-based uranium resource exploration company was found twice on the Birch Narrows Dene Nation without the consent of their band council.

“Resource developers must understand that provincial permits don’t give them the green light to run roughshod over our inherent and treaty rights,” said Birch Narrows Dene Nation Chief Jonathan Sylvestre. Continue Reading →

Mineral development fund providing $230K for diamond drilling of property near Snow Lake (Thompson Citizen – February 18, 2021)

https://www.thompsoncitizen.net/

Wolfden Resources Corporation announced Feb. 18 that it is getting $230,000 from the Manitoba Mineral Development Fund (MMDF) to support diamond drilling at its Rice Island property near Snow Lake.

The 2,611-hectare Rice Island property was explored by drill programs conducted by Inco in 1949-50 and 1967 and Wolfden says the nickel-copper-cobalt deposit has not been explored using modern high-resolution techniques.

“We appreciate the generous grant. It’s a strong endorsement for Wolfden and the potential to expand the deposit,” said Wolfden CEO Ron Little in a press release. Continue Reading →

Canadian firm to invest US$26m to revive BCL – by MBONGENI MGUNI (MMegi.bw – February 12, 2021)

https://www.mmegi.bw/

Premium Nickel Resource Corporation, a Canadian minerals investor, has reportedly been appointed the preferred bidder for BCL Ltd, the copper and nickel group that closed operations in Francistown and Selebi Phikwe in October 2016.

A memo apparently written by the BCL liquidator, Trevor Glaum, to the remaining workers conducting care and maintenance activities, indicates that the Canadian firm will now conduct a comprehensive due diligence process on the BCL assets.

“This is therefore not the sale of BCL and Tati assets as yet, but a period of six months granted to Premium Nickel Resources in which to make a final decision on the economic viability of extraction and processing of the ore resources or not,” Glaum wrote on Thursday. Continue Reading →

Vancouver gold seeker gains ground in Red Lake, Larder Lake – by Staff (Northern Ontario Business – January 19, 2021)

https://www.northernontariobusiness.com/

Trillium Gold Mines acquires more than 12,000 hectares in exploration property

A Vancouver gold explorer on a recent acquisition spree has picked up more property near Red Lake and the Larder Lake area of northeastern Ontario.

Trillium Gold Mines has added 7,939 hectares to its steadily expanding holdings near the northwestern Ontario mining camp, this time in a very prospective area known as the Confederation Lake and Birch-Uchi greenstone belts.

In a Jan. 18 news release, Trillium said it’s cashed up for a 35,000-metre drill program on greenfield property in the Red Lake district that has “exceptional” potential. Continue Reading →

[Maine Mining] Wolfden reports additional findings of zinc, lead at Pickett Mountain location – by Alexander MacDougall (The County – January 12, 2021)

https://thecounty.me/

MT. CHASE, Maine — Additional findings of zinc minerals, as well as other elements such as lead and copper, have been found at the proposed Pickett Mountain mining site, located on property owned by Canadian mining company Wolfden Resources.

The Thunder Bay, Ontario-based company said its most recent test drilling showed polymetallic minerals, most particularly Zinc, which made up 24.2 percent of the results.

Other minerals reported were lead (11.2 percent of the results) and copper (3.2 percent). The total zinc equivalent, or the value of all reported minerals relative to the value of the mainly discovered zinc, was 52.9 percent. Continue Reading →

Alaska to appeal Corps’ Pebble decision – by Shane Lasley (North of 60 Mining News – January 11, 2021)

https://www.miningnewsnorth.com/

Alaska officials say the U.S. Army Corps of Engineers neglected to follow its own guidance when setting mitigations measures for Pebble and the state is appealing Army Corps’ decision to deny federal permits required to develop a mine at the world-class metals deposit on state lands in Southwest Alaska.

“The flawed decision by the Alaska District creates a dangerous precedent that will undoubtedly harm Alaska’s future and, any potential project can fall victim to the same questionable standards,” said Alaska Gov. Mike Dunleavy.

“We have to prevent a federal agency, in this instance, the Alaska District of the Army Corps of Engineers, from using the regulatory process to effectively prevent the state from fulfilling a constitutional mandate to develop its natural resources.” Continue Reading →

Province providing $300,000 for mineral exploration activities near the Manitoba/Ontario boundary – by Ian Graham (Thompson Citizen – January 14, 2021)

https://www.thompsoncitizen.net/

A mineral exploration company is receiving $300,000 from the provincial government to help fund its drilling program in Manitoba’s remote northeast.

BWR Exploration said in a Jan. 7 news release that it learned Dec. 30 that it would be receiving the funding from the Manitoba Mineral development Fund once it provides confirmation of required permits and licensing for the proposed exploration and of additional funding.

“We are pleased to see that the Manitoba government shares BWR’s vision of the economic potential that the Little Stull Lake area has, that can create near and long-term jobs for the nearby communities of Gods River and Gods Lake Narrows, thus strengthening the provincial economy and establish mutually rewarding partnerships between Indigenous communities and mineral exploration companies designed to stand the test of time,” said BWR’s CEO Neil Novak. Continue Reading →

Cobalt explorer primed for action in 2021: Fuse Cobalt expects to follow up on “spectacular” drill results from 2018 – by Staff (Northern Ontario Business – January 8, 2021)

https://www.northernontariobusiness.com/

An anticipated surge of interest in electric vehicles and the revival of a cobalt refinery has lit a fire under Vancouver’s Fuse Cobalt to get back into the field in northeastern Ontario.

The rebranded junior miner is preparing for an active year on its exploration properties, northeast of the town of Cobalt.

The company, formerly known as LiCo Energy Metals, changed its name last year and took complete ownership of two properties after negotiating the termination of an option agreement with Surge Exploration. Continue Reading →

Thunder Bay palladium hunter reaches an understanding with local First Nations – by Staff (Northern Ontario Business – January 11, 2021)

https://www.northernontariobusiness.com/

Clean Air Metals signs agreement with three communities to explore, develop Thunder Bay North Project

A Thunder Bay palladium junior miner has signed an early-stage cooperation and development agreement with three area First Nations in northwestern Ontario.

Clean Air Metals signed a memorandum of agreement (MOA) with Fort William First Nation, Red Rock Indian Band, and the Biinjitiwaabik Zaaging Anishinaabek (formerly Rocky Bay First Nation) revolving around exploration activity at the company’s Thunder Bay North project.

The almost-30,000 hectare exploration property sits on the traditional territories of these three communities. The company is running a 30,000-metre drill program at its Thunder Bay North Project, where two palladium deposits – Current Lake and Escape Lake – have been identified in the vicinity of Greenwich Lake and Tartan Lake. Continue Reading →

Nickel, gold, palladium potential blossoming on Superior’s North Shore – by Staff (Northern Ontario Business – January 6, 2021)

https://www.northernontariobusiness.com/

Exploration companies deep into drilling in Hemlo area of northwestern Ontario

Three junior mining companies working ground near the north shore of Lake Superior are making great strides with their exploration properties.

One company looking for nickel is reporting significant exploration success in the Hemlo area.

Palladium One said the first two holes of a drill program at its Tyko property encountered massive magmatic sulphides grading 8.7 per cent nickel (193 pounds per tonne) over 3.0 metres. The intersections were taken a depth of less than 30 metres. Continue Reading →

SolGold boss wants to end the brawl with BHP and Newcrest – by Peter Ker (Australian Financial Review – January 6, 2021)

https://www.afr.com/

SolGold managing director Nicholas Mather wants to repair his fractured relationship with BHP and Newcrest Mining after an acrimonious year that culminated in a massive protest vote against his re-election to the board of the high-profile copper explorer.

BHP and Newcrest both own more than 13 per cent of SolGold and last year made public their respective concerns about Mr Mather’s approach to governance and funding of the Brisbane-based company, which has discovered several prospective copper and gold targets in Ecuador.

BHP and Newcrest were not the only SolGold shareholders with concerns about Mr Mather, with 44.7 per cent of the company’s register voting against his re-election to the SolGold board shortly before Christmas. Continue Reading →

Red Lake gold camp has a new land baron: Trillium Gold seals the deal on full ownership of high-grade gold property – by Staff (Northern Ontario Business – January 4, 2021)

https://www.northernontariobusiness.com/

Vancouver’s Trillium Gold are busy campers in the Red Lake district. The junior explorer has been a whirlwind of activity flying airborne surveys, filing for drill permits, and running drill programs on its Red Lake gold properties.

On New Year’s Eve, the company announced it closed the acquisition of the Newman Todd Project, which, according to Trillium, makes them the largest property holder in the area.

In a cash-and-share deal with Heliostar Metals, Trillium picked up the remaining 16.5 per cent ownership stake in the 198-hectare property. Continue Reading →

How the COVID-19 pandemic fuelled a boom in Canadian stock promotion scams – by Niall McGee (Globe and Mail – December 31, 2020)

https://www.theglobeandmail.com/

Cromwell Coulson, the CEO of New York-based stock trading platform OTC Markets Group, is getting sick and tired of trying to stomp out Canadian stock promotion scams.

OTC plays host to more than 10,000 early-stage speculative stocks and every day it publishes a list of companies it has identified as running misleading stock promotions. In 2019, 30 per cent of troubling campaigns were by Canadian companies.

But since the global outbreak of COVID-19 last winter, there has been a boom in pump and dump scams, in which shady promoters use any means necessary to push up the price of a company’s shares, then sell their stakes at huge profits just before the stock collapses. Continue Reading →