Twitter

Junior Exploration Sector

Magna plans drilling at Denison nickel-copper project after ‘considerable’ resource estimate – by Colin McClelland (Northern Miner – November 8, 2022)

https://www.northernminer.com/

Magna Mining (TSXV: NICU) says its first resource for its Denison nickel, copper and platinum group metals project in Ontario’s Sudbury basin shows “significant potential.”

Magna is exploring the restart of a past-producing underground mine and the development of an open-pit operation to the site, also known as Crean Hill. As well, Magna owns the advanced-stage Shakespeare, a similar project in the same region. Denison’s indicated resource for both underground and open pit totals more than 31 million tonnes, Magna said.

Read more

Archer Exploration raises $10M for nickel hunt in Canada – by Staff (Canadian Mining Journal – November 8, 2022)

https://www.canadianminingjournal.com/

Archer Exploration (CSE: RCHR) has announced its fully subscribed $10 million private placement offering, previously announced in October.

The offering will consist of 4.5 million in non flow-through units of Archer at a price of $0.66; about 4.2 million flow-through units at a price of $0.75 unit; and 2.9 million charity flow-through units at a price of $1.38 each. Aggregate gross proceeds of the offering are expected to be at least $10.1 million.

Read more

Ontario-focused Frontier Lithium aspires to become Canada’s ‘lithium champion’ – by Henry Lazenby (Northern Miner – November 7, 2022)

https://www.northernminer.com/

Frontier Lithium (TSXV: FL; US-OTC: LITOF) reports progress towards completing a resource update and prefeasibility study for its PAK project in northwestern Ontario by the first quarter of 2023. The prospective lithium pegmatite project is 170 km north of the famed Red Lake Gold Camp in an emerging lithium mineral district in the Canadian Shield dubbed the ‘Electric Avenue.’

Having already outlined one of the largest and highest grade spodumene resources in North America, the project has the potential to crystalize the vision of Frontier becoming Canada’s ‘lithium champion,’ as owner, president and CEO Trevor Walker tells The Northern Miner in an interview.

Read more

Column-Canada slams the door on China in critical minerals race – by Andy Home (Reuters – November 4, 2022)

https://www.reuters.com/

The Canadian government this week ordered Chinese companies to divest their holdings in three Canadian-listed junior mining companies planning to develop lithium deposits.

The ban comes within days of Canada announcing a tougher policy on investment in the minerals sector by state-owned entities, particularly those from China, which dominates the processing of key energy transition metals such as lithium, cobalt and rare earths.

Read more

Cochrane-area cesium explorer willing to stand its ground against Ottawa – by Staff (Northern Ontario Business – November 4, 2022)

https://www.northernontariobusiness.com/

Power Metals and Hong Kong partner plan to appeal federal divestment order

A junior miner searching for cesium and lithium in northeastern Ontario said its Hong Kong financing partner intends to appeal a Canadian government order to pull its investment from the critical minerals exploration project.

In the meantime, it’s business as usual Power Metals said of its ongoing exploration drilling at its Case Lake Project site, 80 kilometres east of Cochrane, near the border with Quebec.

Read more

Beijing accuses Canada of ‘suppressing Chinese companies’ – by Steve Chase and Niall McGee (Globe and Mail – November 4, 2022)

https://www.theglobeandmail.com/

Beijing is accusing Canada of “suppressing Chinese companies” by forcing three of its state-controlled corporations to sell their stakes in Canadian critical minerals businesses.

On Wednesday, Ottawa ordered Chinese state-owned companies to immediately divest their interests in three Canadian critical minerals companies. The federal government had faced an avalanche of criticism earlier this year for allowing too much investment from the Asian superpower in Canada’s domestic mining sector.

Read more

Frontier announces $20M bought deal to fund PAK exploration – by Marilyn Scales (Canadian Mining Journal – October 20, 2022)

https://www.canadianminingjournal.com/

Frontier Lithium (TSXV: FL; OTC: LITOF) is raising $20 million with which to continue exploration of the PAK lithium project in northwestern Ontario. The bought deal is underwritten by a syndicate led by RBC Capital Markets and Goldman Sachs.

The underwriters have agreed to purchase 9.1 million units of Frontier at a price of $2.20 per unit. Each unit consists of one common share and one-half of one purchase warrant. Each full warrant will entitle the holder to purchase a common share at a price of $2.75 within a period of 36 months following the closure of the bought deal. Closing is expected on Nov. 8, 2022.

Read more

Probe Metals finds ‘remarkable consistency’ at Val-d’Or gold project’s Monique – by Staff (Mining.com – October 18, 2022)

https://www.mining.com/

Probe Metals (TSXV: PRB) says drilling at its Val-d’Or East project’s Monique deposit in Quebec has returned “significant” gold intercepts that are likely to expand the area of the strike and increase its resource update due by year’s end.

Highlights from the results of 45 new holes showed “continued strike and depth expansion with significant gold intercepts along the Monique gold zones,” Probe, a Toronto-based explorer, said in a press release on Tuesday.

Read more

Uranium Snapshot: Seven juniors searching for the energy metal – by Norm Tollinsky (Northern Miner – October 20, 2022)

https://www.northernminer.com/

As the world looks for low-carbon energy solutions, more nations are coming to the conclusion that nuclear power needs to be part of the mix. Here are seven junior companies looking for the next uranium deposits to power the nuclear renaissance.

BASIN URANIUM

In early September, Basin Uranium (CSE: NCLR, US-OTC: BURCF) announced the intersection of significant uranium mineralization in first-phase drilling at its flagship Mann Lake uranium project in Saskatchewan’s Athabasca Basin.

Read more

GMS: Lessons from Great Bear’s smashing $2B success at Dixie – by Alisha Hiyate (Northern Miner – October 4, 2022)

https://www.northernminer.com/

One of the most exciting gold exploration stories in recent years has been Great Bear Resources and its Dixie gold project near Red Lake, Ont. The company was acquired by Kinross Gold (TSX: K; NYSE: KGC) in February — even before it had a chance to compile an initial resource for the high-grade, large-scale project.

In September, Royal Gold (NASDAQ: RGLD) bought Great Bear Resources — a spinout of Great Bear whose only asset was a 2% net smelter return royalty on Dixie — for $200 million, bringing the total value of Great Bear’s assets to $2 billion.

Read more

Shakeup at Metallum Resources as CEO departs – by Staff (Northern Ontario Business – October 4, 2022)

https://www.northernontariobusiness.com/

Vancouver junior miner wants to put former Schreiber-area zinc mine back into production

The head of a junior mining outfit, with ambitious plans to put a former zinc mine near Schreiber back into production, has abruptly left the company. Vancouver’s Metallum Resources announced Oct. 3 that Kerem Usenmez has resigned as president, CEO and his seat on the board of directors.

In an Oct. 3 news release, the company said board chair Tony Wonnacott will step into the CEO’s role on an interim basis. Wonnacott was appointed chair back in July.

Read more

The gold exploration surge continues in Timmins – by Ian Ross (Northern Ontario Business – August 22, 2022)

https://www.northernontariobusiness.com/

Junior miners drilling and developing the next generation of gold mines in the Abitibi gold belt

Gold prices have slumped this month to below US$1,750 an ounce, but the Abitibi gold belt around Timmins continues to bustle with exploration activity this summer.

With more than 200 million ounces of historical production, this mineral-rich region remains a magnet for junior miners to make new discoveries or breathe new life into older ore bodies. In the West Timmins area, Galleon Gold is making preparations to begin test mining at its West Cache deposit in 2023.

Read more

Magna Mining looks to revive former Sudbury nickel, copper mine – by Staff (Northern Ontario Business – August 17, 2022)

https://www.northernontariobusiness.com/

Company acquiring former Crean Hill Mine on its path to become a mid-tier Canadian nickel miner

A Sudbury junior miner, with big ambitions to become a major Sudbury-area nickel producer, has picked up a choice piece of ground.

Magna Mining has entered into a definitive share purchase agreement to acquire all of the shares of Lonmin Canada in a deal worth $16 million.

Read more

Bidding war for Canadian uranium explorer UEX hots up – by Mariaan Webb (MiningWeekly.com – August 10, 2022)

https://www.miningweekly.com/

The bidding war for that has erupted for Canadian uranium exploration junior UEX is heating up, with Denison Mines improving its offer, leaving fellow-suitor Uranium Energy Company (UEC) disappointed with UEX delaying its shareholder vote. UEX shareholders would have voted on UEC’s bid on Tuesday, but the company’s board had moved that meeting to August 15, following Denison’s amended offer.

Denison has offered to acquire UEX for 0.32 shares for every UEX share held, representing an implied purchase price of C$0.51 a share. Denison states that the acquisition proposal represents a 7% premium to the price implied by the amended agreement between UEX and UEC, and a 9% premium to the 20-day volume weighted average price implied by the amended UEC agreement.

Read more

Mark Selby has CO2-eating rocks in Timmins – by Staff (Northern Ontario Business – July 20, 2022)

https://www.northernontariobusiness.com/

Canada Nickel provides proof that its Crawford Project can sequester carbon

Canada Nickel Company CEO Mark Selby often points out that the rocks of his ultramafic-hosted nickel deposits, north of Timmins, spontaneously soak up carbon dioxide (CO2) when exposed to air.

Now the Toronto-based junior mining company is providing the lab results to back up his claim. For a couple of years, Selby has been pitching its Crawford Project and the Timmins area as an up-and-coming district for the North American electric vehicle sector to source a domestic large-scale and low-carbon supply of nickel.

Read more