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Junior Exploration Sector

Gold company, First Nation set the ground rules for Far North exploration – by Staff (Northern Ontario Business – May 24, 2024)

https://www.northernontariobusiness.com/

Eabametoong Chief says agreement with Storm Exploration is a ‘model for others to follow’

Vancouver’s Storm Exploration has signed an exploration agreement with the Eabametoong First Nation (EFN) regarding planned activity around its Fort Hope Projects in the remote James Bay region.

In a May 23 news release, Bruce Counts, Storm’s president-CEO, called the signing a “major milestone” that offers mutual benefits for both the company and community. Storm’s Miminiska, Keezhik and Attwood projects are 350 kilometres north of Thunder Bay within a mineralized geological structure called the Miminiska-Fort Hope greenstone belt.

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Solaris abandons proposed financing with Chinese company after deal stalled in national security review – by Niall McGee (Globe and Mail – May 22, 2024)

https://www.theglobeandmail.com/

Canadian critical minerals company Solaris Resources Inc. has called off its financing deal with China’s Zijin Mining Group Co. Ltd. after failing to receive regulatory approval from Ottawa, which had been vetting the transaction on national security grounds. Vancouver-based Solaris in January said that Zijin intended to pay $130-million for a 15-per-cent equity stake in the company.

Solaris had planned to use the funds to advance its early-stage Warintza copper project in Ecuador. If the deal had been approved, Zijin would have been entitled to a seat on Solaris’s board, giving it influence over the strategic direction of the company. Copper, along with nickel, lithium and graphite, is used in electric-vehicle batteries and other low-carbon energy sources.

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Tarnished Wawa gold company out to ‘rebuild the trust’ of shareholders – by Ian Ross (Northern Ontario Business – May 17, 2024)

https://www.northernontariobusiness.com/

Red Pine Exploration takes no questions during webcall but still touts Wawa exploration project

Though Red Pine Exploration’s reputation has taken a severe hit, the Toronto gold company still believes in the untapped mineral potential of its Wawa Gold Project, said board chair Paul Martin.

In a May 15 webcall to shareholders, the Wawa gold explorer began the campaign to dig itself out of an emerging scandal involving published drill assay results that the company alleges were tampered with by former CEO Quentin Yarie.

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Junior gold company Red Pine vows to regain investor trust after accusing former CEO of tampering with gold assay data – by Niall McGee (Globe and Mail – May 16, 2024)

https://www.theglobeandmail.com/

Junior gold company Red Pine Exploration Inc. RPX-X is vowing to work to regain the trust of investors after accusing its former chief executive officer of tampering with its gold assay data over the course of a decade.

Toronto-based Red Pine first raised questions about its assay figures on May 1, saying it found inconsistencies in some of its drilling results at its Wawa gold project in Ontario. The company’s stock immediately lost 60 per cent of its value.

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Junior Canadian miner Red Pine accuses former CEO of tampering with gold assay data – by Niall McGee (Globe and Mail – May 11, 2024)

https://www.theglobeandmail.com/

Junior mining company Red Pine Exploration Inc. has accused its former chief executive of manipulating data on hundreds of its gold assays over the past decade, and says some of its resource estimates for its Ontario gold project are no longer valid.

The Toronto-based company first raised questions about its assays on May 1, saying it found inconsistencies in some of its drilling results pertaining to its Wawa gold project, and it was looking to work with an independent firm to determine the scope of the problem. On Friday, Red Pine said the inconsistencies stemmed from the “unauthorized manipulation of certain assay results” by the company’s former CEO.

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Red Pine confirms Wawa gold assays after reported ‘inconsistencies’, stock rebounds – by Staff (Mining.com – May 6, 2024)

https://www.mining.com/

Red Pine Exploration (TSXV: RPX) said on Monday that investigations into past assay results from its Wawa gold project in Ontario found no evidence of inconsistencies, and that the company can rely on the validity of those results.

Last week, the Toronto-based gold junior issued a press release stating that it was withdrawing all previously reported assays from the Wawa project after discovering “inconsistencies” in certain results. A detailed investigation ensued.

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Red Pine Exploration plunges as it retracts all assays for Wawa gold project – by Staff (Mining.com – May 1, 2024)

https://www.mining.com/

Red Pine Exploration (TSXV: RPX) said on Wednesday it has withdrawn all previously announced assays for the Wawa gold project in Ontario after discovering “inconsistencies” in certain results.

These include assay results announced by way of press releases and those referenced in past disclosure documents, such as the NI 43-101 report for the Wawa project dated June 2023, the company said.

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Will Changes to Canada’s Capital Gains Tax Hurt Mining Investment and Innovation? – by Georgia Williams (Investing News – April 26, 2024)

https://investingnews.com/

On April 16, the Canadian government tabled its 2024 budget proposal. Called “Fairness for Every Generation,” it is aimed at helping Millennials and Gen Zs, with C$535 billion earmarked by the Trudeau government for investments in housing, clean economy initiatives, childcare, healthcare and national security. But one section of the document has garnered widespread attention — changes to the capital gains tax scheme.

Starting on June 25, 2024, changes to Canada’s tax system will aim to “enhance fairness” by adjusting the inclusion rate for capital gains. Individuals with over C$250,000 in annual capital gains will see their inclusion rate increase from one-half to two-thirds, while those with gains below this threshold will maintain the 50 percent inclusion rate.

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Nickel developer hires access road consultant – by Staff (Northern Ontario Business – April 15, 2024)

https://www.northernontariobusiness.com/

Tartisan’s Kenbridge Project hold promise of nine years of mine life

Tartisan Nickel, a mine developer in the Kenora area, has retained a Thunder Bay mining services company to help with project management of its Kenbridge Project. Northwest Solutions specializes in catering to the forestry and natural resources sector since 2014. The family-owned Thunder Bay company helps with training, project management support and communication consulting services.

Tartisan said Northwest Solutions, specifically co-owner Kevin Shorthouse, will handle the design, permitting and construction of an access road to the site.

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Sudbury letter: Mining exploration in Ontario dying – by Peter Best (Sudbury Star – March 28, 2024)

https://www.thesudburystar.com/

Re: ‘Ford government ignoring mine exploration sector,’ March 26.

Mr. Chitaroni’s opinion column is too timid and politically correct to properly represent the dire state of Ontario’s junior mining sector.

The Ford government has more than ignored this sector. Rather, it has abandoned it to the economy-killing, perfectly legal, consult and accommodate and UNDRIP claims of First Nations and their big city lawyers.

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Why Ontario can’t afford to ignore juniors in the next budget – by Gino Chitaroni (Northern Miner – March 22, 2024)

https://www.northernminer.com/

Without a doubt, one of the most important challenges facing the next generation is global warming and the need to decarbonize the transportation sector. This can only happen with the sustainable development of new mines that produce the copper, nickel, cobalt, lithium and other critical minerals that can be found throughout northern Ontario’s rich geology.

However, it is the junior exploration sector that has traditionally found economic mineral deposits that are sold to majors who have the financial capacity to build new mines. This important and vital part of the mining ecosystem is largely being ignored by the Ontario government.

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OPINION: Ford government ignores vital exploration sector – by Gino Chitaroni (Northern Ontario Business – March 21, 2024)

https://www.northernontariobusiness.com/

Gino Chitaroni is president of Kirkland Lake’s Northern Prospectors Association and is an Ontario Prospectors Association board member.

Junior mining sector needs support, province needs to get more competitive to spawn next generation of mines, says industry leader

Without a doubt, one of the most important challenges facing the next generation is global warming and the need to decarbonize the transportation sector. This can only happen with the sustainable development of new mines that produce the copper, nickel, cobalt, lithium and other critical minerals that can be found throughout Northern Ontario’s rich geology.

However, it is the junior exploration sector that has traditionally found economic mineral deposits that are sold to majors who have the financial capacity to build these new mines. This important and vital part of the mining ecosystem is largely being ignored by the Ontario government.

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Pebble mine developer sues EPA over Alaska mine veto – by Clark Mindock (Reuters – March 18, 2024)

https://www.reuters.com/

March 18 (Reuters) – Northern Dynasty Minerals, the developer of the proposed Pebble copper and gold mine in southwest Alaska, has sued the U.S. Environmental Protection Agency seeking to overturn the agency’s veto of the project.

The developer on Friday filed a lawsuit in federal court in Anchorage challenging the EPA’s 2023 final determination prohibiting the discharge of mining waste in the state’s Bristol Bay over concerns the materials would degrade the watershed and harm important fishing ecosystems.

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Sudbury developer to test mine former INCO property – by Ian Ross (Northern Ontario Business – March 13, 2024)

https://www.northernontariobusiness.com/

Magna Mining moves into advanced exploration at Crean Hill Project

Magna Mining, a home-grown Sudbury mine developer, is putting the paperwork in place to test mine a former INCO mine. The company said it filed an amended closure plan for its Crean Hill Project with the provincial mines ministry in late February.

This opens the door for Magna to begin an advanced exploration program that will shape the project’s economics and life of mine. Crean Hill is located in the southwest corner of the Sudbury basin. Under the Inco flag, it ran from 1900 to 2002. Magna acquired the asset from Vale in November 2022 and put 19,000 metres of drilling into the property last year.

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Why B.C. is a preferred jurisdiction for mining headquarters – by Nelson Bennett (Business In Vancouver – March 15, 2024)

https://www.biv.com/

Canadian securities regulations, local expertise makes Vancouver a junior mining mecca

Pick any mining jurisdiction in the world—Mexico, Chile, the Democratic Republic of Congo (DRC)—and you are likely to find at least one mining or exploration company there that is headquartered in Vancouver. As of 2022, there were 944 publicly listed mining and mineral exploration and development companies headquartered in B.C., according to the BC Securities Commission (BCSC).

Most of these companies don’t have mines or exploration projects in B.C. or even Canada, for that matter. Some operate in far-flung frontiers—places such as Guatemala, Mali and the DRC, which can be politically risky and even downright dangerous.

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