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Junior Exploration Sector

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.

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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.

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Sioux Narrows nickel deposit has mining potential – by Staff (Northern Ontario Business – July 18, 2022)

https://www.northernontariobusiness.com/

Tartisan Nickel wants to put former Falconbridge mine back into production

A former Falconbridge nickel deposit near Kenora looks to have the legs and the economics to be put back into production.

Tartisan Nickel released a preliminary economy assessment (PEA) of its Kenbridge Nickel Deposit last week. The PEA study projects a nine-year mine with production of 52.6 million pounds of nickel and 30.7 million of copper over that span.

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Wallbridge sells nickel assets to focus on gold – by Tasneem Bulbulia (MiningWeekly.com – July 14, 2022)

https://www.miningweekly.com/

Dual-listed Wallbridge Mining has entered into a definitive agreement with CSE-listed Archer Exploration through which Archer will acquire all Wallbridge’s nickel property, assets, rights and obligations, including the Grasset property, to create a publicly-traded nickel exploration and development company.

Archer is backed by Inventa Capital, a Vancouver-based merchant bank founded in 2017 with the goal of discovering and funding opportunities in the resource sector. The nickel assets consist of 2 046 mining titles covering about 67 000 ha and include a 100% interest in the Grasset nickel sulphide project located in Quebec.

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EV Nickel rises on high grade drill results at Shaw Dome in Ontario – by Naimul Karim (Northern Miner – July 11, 2022)

https://www.northernminer.com/

Shares of EV Nickel (TSXV: EVNI) jumped more than 50% in morning trading as the company’s latest drill results from its Shaw Dome project in Timmins, Ont., intersected high-grade nickel sulphide.

Highlights from the drill results included 14.30 metres grading 1.50% nickel starting from 311.8 metres in drillhole EV22-12, including 5.40 metres grading 2.96% nickel; and 5.50 metres grading 1.33% nickel starting from 373.50 metres in drillhole EV22-13.

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Uranium exploration plan in Thelon Basin draws some concerns – by David Lochead (Nunatsiaq News – July 7, 2022)

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Some Baker Lake residents and organizations are expressing concerns over planned uranium exploration in the Thelon Basin next year. The majority of comments submitted to the Nunavut Impact Review Board that were made public by the board have expressed concern or questions, with others writing in opposition.

The review board makes recommendations to the federal minister of northern affairs about the economic and social impacts of proposed development projects in the territory. NIRB opened up the commenting period to the public June 14; commenting closed July 5.

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Opinion: Mining activity threatens ecosystem at Wolf Lake – by Naomi Grant, Franco Mariotti and Viki Mather (Sudbury Star – July 6, 2022)

 

https://www.thesudburystar.com/

Naomi Grant, Franco Mariotti, and Viki Mather are steering committee members with the Wolf Lake Coalition.

Wolf Lake is the largest remaining old-growth red pine forest in North America. This globally significant and endangered ecosystem is a recreational paradise known around the world. It has been recognized as a fish sanctuary, a candidate for park status, and as a priority natural area for protection.

It is also the site of active mining leases and claims. Wolf Lake’s Forest Reserve status protects it from logging but allows mining activity, with the intention for the lands to be added to the provincial park or conservation reserve when the mining claim or lease expires through normal processes.

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Canadian explorer continues to advance project’s copper-nickel-cobalt plus PGM, clean energy potential (Mining Weekly – June 20, 2022)

https://www.miningweekly.com/

With significant demand and potential in Canada for high-grade palladium, platinum, rhodium, copper, nickel and cobalt, Canadian North Resources Inc. (CNRI) is at late-stage exploration and development of its mining property in the Kivalliq region of Nunavut, in Canada, namely the Ferguson Lake project.

The company, which owns 100% of the project, has a mandate to create shareholder value from the advancement of its Ferguson Lake project, which holds substantial resources of copper (0.46-billion indicated and 0.95-billion inferred pounds), nickel (0.32-billion indicated and 0.55-billion inferred pounds) and cobalt (37-million indicated and 62-million inferred pounds) plus palladium (1.08-million indicated and 2.12-million ounces) and platinum (0.18-million indicated and 0.38-million inferred ounces).

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Nuinsco publishes first resource for Prairie Lake critical minerals in Ontario – by Jaskson Chen (Canadian Mining Journal -June 1, 2022)

https://www.canadianminingjournal.com/

Nuinsco Resources (CSE: NWI; OTC: NWIFF) has published an initial mineral resource estimate (MRE) for its Prairie Lake critical minerals and phosphate project. The property is located 28 km north of the Trans-Canada Highway and 45 km northwest of town of Marathon, Ont.

The initial Prairie Lake resource is based on 73 inclined diamond drill holes performed between 1969 and 2010, for a total of 12,180 metres. Additionally, surface trenching totalling 2,068 metres is also included in the estimate.

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The Drift: Junior miners chasing nickel, palladium and gold in the Sudbury area – by Staff (Northern Ontario Business – April 28, 2022)

https://www.northernontariobusiness.com/

SPC Nickel emerging as new nickel player in the Sudbury basin in seeking to resurrect former nickel mine

A new nickel player in the Sudbury mining camp expects great results toward resurrecting a former mine, while two other junior miners pursue palladium and gold at the opposite ends of the basin.

SPC Nickel cashed up over the winter with more than $3 million to go exploring for nickel, copper and platinum group metals (PGM) on its three properties in the Sudbury area.

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B.C. Hells Angel member and former CFL player accused in US$194-million pump-and-dump scam – by Niall McGee (Globe and Mail – April 21, 2022)

https://www.theglobeandmail.com/

Courtney Vasseur, a British Columbia Hells Angels member, and former Canadian Football League player David Sidoo are among 16 people accused of perpetrating a sprawling international pump-and-dump scam that lasted more than a decade and bilked investors out of an alleged US$194-million.

The U.S. Securities and Exchange Commission and the U.S. Attorney’s Office for the Southern District of New York are alleging that the defendants, almost half of which are Canadian citizens, manipulated the share prices of scores of U.S. penny stock companies over a period of about 15 years.

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All eyes on Sudbury’s ‘Frontier’ with new lithium project – by Ian Campbell (CTV News Northern Ontario – April 7, 2022)

https://northernontario.ctvnews.ca/

It was a packed house at Bryston’s in Copper Cliff on Wednesday as members of the Greater Sudbury Chamber of Commerce came out to hear the latest on lithium. Specifically, they were there to hear from Frontier Lithium president Trevor Walker, who touched on the company’s plans to develop the Pak deposit in northwestern Ontario.

The Sudbury-based company could soon become one of the biggest lithium suppliers in North America given the value of the deposit at Pakeagama Lake. “We’re blessed to also have former Chief Bart Meekis of Sandy Lake First Nations on the board of directors,” said Walker.

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A fresh look at Muskox nickel in Nunavut – by Shane Lasley (North of 60 Mining News – April 8, 2022)

https://www.miningnewsnorth.com/

SPC Nickel Corp., a new Canadian exploration company, April 5 outlined plans for the 2022 exploration program on its Muskox nickel-copper-platinum group metal property in Nunavut.

Located in the Kitikmeot region of Nunavut, about 400 kilometers (250 miles) north of Yellowknife, Northwest Territories, Muskox is a 45,200-hectare (111,700 acres) property that covers prospective geological settings with numerous similarities to many of the world’s largest nickel mining camps.

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Canada Nickel raises $51.6 million to bring Timmins deposit to mine-ready stage – by Staff (Northern Ontario Business – April 6, 2022)

https://www.northernontariobusiness.com/

Mine developer intersects high-grade nickel at Crawford project

This is has been one of those ‘milestone’ weeks for Timmins mine developer Canada Nickel Company and its Crawford nickel sulphide project.

First, the Toronto-based company announced it had pulled the highest grade of nickel drill core ever recorded on the property, then it cashed up for the remainder of this year, taking in $51.6 million from the sale of flow-through shares.

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Hemlo Explorers stock jumps 53% as Barrick weighs Ontario project earn-in – by Henry Lazenby (Mining.com – April 4, 2022)

https://www.mining.com/

The Toronto-quoted equity of Hemlo Explorers Inc. (TSXV: HMLO) jumped more than 53% on Monday after the company revealed it had entered a binding term sheet with Barrick Gold Corporation (TSX: ABX; NYSE: GOLD) that will give Barrick a right to earn up to 80% of the Pic project in Ontario.

Located 25 kilometres west of Barrick’s Hemlo mine, Barrick will have to deliver to Hemlo Explorers a pre-feasibility study within six years of signing the definitive agreement. Under the terms of the deal, Barrick will commit to spending at least $800,000 on the project in the first 12 months, followed by an annual commitment of at least C$1 million ($800,000).

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