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Metallis drills into mineralized monzonite, ramps up exploration program
Metallis Resources completed two drill holes at its Kirkham Property in BC's Golden Triangle, intersecting mineralized monzonite throughout with evidence that mineralization improves with depth. The company is expanding its exploration program with new surface sampling at the King East target area and has added a specialist geologist with experience discovering major porphyry deposits.
Manson acquires DJ Jade Project Washington State, USA, field work begins
Manson Creek Resources acquired the DJ Jade Project in Washington State through an option agreement and staking, covering 140 hectares with four identified nephrite jade occurrences. The company plans immediate field work including surveying, sampling, and geophysical surveys to outline potential trenching and drilling targets.
Silver Bear files amended Mangazeisky Silver Project technical report
Silver Bear Resources filed an amended technical report for its Mangazeisky Silver Project in Russia following an Ontario Securities Commission review. The updated feasibility study shows increased initial capital costs from US$50 million to US$65 million, while the pre-tax NPV decreased to US$88 million with a 48.2% IRR for the Vertikalny deposit.
Teck Steelmaking coal price guidance issued: volume up—prices slide
Teck Resources provided Q3 2017 guidance showing increased steelmaking coal sales volumes of 7.2-7.5 million tonnes, up from previous guidance of at least 7.0 million tonnes. However, the company expects to realize lower average prices of US$158-163 per tonne compared to the quarterly index price of US$170 per tonne.
Metallis commences drilling at Kirkham Property in Eskay Camp
Metallis Resources commenced its 2017 drilling program at the Kirkham Property in BC's Golden Triangle, focusing on the Cliff target where surface mineralization has been traced for 1.4 km. The company is drilling gold-rich copper porphyry zones near historical hole MD-09-01, which showed increasing gold and copper grades with depth.
Wesdome announces 300W drilling update: continues up-plunge
Wesdome Gold Mines reported high-grade gold drilling results from the 300W area at its Eagle River Mine, with the best intercept returning 48.14 g/t Au over 1.82m true width. The zone has been traced 300 metres up-plunge and remains open, with grades above existing mine reserves supporting near-term production expansion plans.
Hochschild Mining joins forces with Cobalt Power Group
Hochschild Mining has agreed to invest $500,000 USD in Cobalt Power Group through a private placement, gaining board representation and the right to joint venture one of CPO's cobalt properties in Ontario. The strategic partnership brings Hochschild's 60+ years of mining experience to CPO's cobalt exploration assets near the historic Cobalt, Ontario mining district.
Independence Gold commences drilling on Boulevard, Yukon
Independence Gold has commenced a 1,500-metre diamond drilling program on its Boulevard Project in Yukon's White Gold District, following up on high-grade gold results from previous reverse circulation drilling. The program targets quartzite horizons with cross-cutting mineralized quartz veins, with previous holes returning up to 15.0 g/t Au over 3.1m.
Monarques Gold intercepts multiple gold-bearing zones in the western extension of Diorite A
Monarques Gold reported strong drilling results from its Simkar Gold property in Quebec, with multiple high-grade gold intercepts including 23.20 g/t Au over 0.4 metres. The 2,500-metre program successfully extended the known Diorite A gold zone westward, confirming mineralization to 600 metres depth.
Rock Tech provides update on field program, stakes additional claims at Georgia Lake Lithium Project
Rock Tech Lithium provided an update on its field sampling program at the Georgia Lake lithium property in Ontario, successfully locating historic drill collars and staking two additional claims. The company confirmed multiple lithium-bearing pegmatites in both the Aumacho and McVittie regions, with historic resource estimates totaling over 1 million tonnes.
Swiss-based Nyrstar making plans to re-start Myra Falls Mine on Vancouver Island
Swiss mining company Nyrstar announced plans to restart its shuttered Myra Falls Mine on Vancouver Island, which has been closed since 2015. The restart is contingent on securing provincial permits, new sales contracts, and skilled workers, requiring tens of millions of dollars in infrastructure upgrades. The mine could potentially employ upwards of 300 workers and produces zinc, copper, lead concentrates with silver and gold byproducts.
Pretivm reports second quarter results; gold sales have commenced
Pretium Resources reported successful commissioning of its Brucejack Mine in BC, producing 25,392 ounces of gold from June-July 2017 and achieving commercial production on July 1. The mine reached nameplate capacity of 2,699 tonnes per day in July, and gold sales have commenced with the completion date achieved on August 1, 2017.
McEwen Mining to acquire Black Fox from Primero
McEwen Mining announced a $35 million acquisition of the Black Fox Complex from Primero Mining Corp., located in the Timmins gold mining camp in Ontario. The acquisition includes an underground mine producing 50-60,000 ounces of gold in 2017, a processing facility with excess capacity, and development opportunities that will create synergies with McEwen's existing Timmins deposits.
Mountain Province Diamonds announces Quarter End results
Mountain Province Diamonds reported strong Q2 2017 results from its Gahcho Kué mine, recovering 2.48 million carats at a grade 20% above budget. The company increased full-year production guidance by 25% to 5.5 million carats and achieved a 43% gross margin despite challenging rough diamond markets.
Restart of Bonanza Ledge mine brings jobs to the Cariboo
Barkerville Gold Mines has received permits to restart underground operations at its Bonanza Ledge gold mine near Quesnel, BC, creating 90 jobs. The mine is expected to produce 54,000 ounces of gold over three years, with ore processed at the company's QR Mill.
Conference of Metallurgists (COM2017) hosting World Gold and Nickel - Cobalt
The Canadian Institute of Mining, Metallurgy and Petroleum (CIM) hosted COM2017, a three-day metallurgy conference in Vancouver featuring over 250 presentations covering minerals, metals and materials. The conference included special symposia on women in engineering innovation and enabling innovation in the mining and metallurgical industries.
“Significant Intercepts”—Kennady North Summer Drilling Program
Kennady Diamonds reported significant kimberlite intercepts approaching 50m or greater from three exploration holes at the Faraday 2 kimberlite on their Kennady North diamond project. The company has completed nearly 50% of its planned 3,000m summer drilling program, with results suggesting the Faraday 2 body maintains constant depth and significant volume as it tracks northwest.
Drilling commences at the Up Town Gold Project
Silver Range Resources announced that partner Rover Metals has commenced a $350,000 exploration program at the Up Town Gold Project near Yellowknife, including NQ diamond drilling to test three zones. The high-grade Archean lode gold prospect adjoins the Giant Mine and has yielded impressive results including grab samples up to 318 g/t Au and drill intercepts of 2.22m @ 27.47 g/t Au.
Red Meters unveils new social media persona and product
Red Meters launched a new social media strategy to increase customer engagement across platforms including Facebook, Instagram, LinkedIn and YouTube. The company manufactures density measurement systems that provide real-time exact density measurements with +/-0.25% accuracy, serving industrial applications including mining slurries.
Senator Minerals to conduct helicopter supported site visits of projects
Senator Minerals announced plans for helicopter-supported site visits to its Carter Lake and Patterson Northeast uranium projects in Saskatchewan's Athabasca Basin in mid-August 2017. The purpose is to evaluate infrastructure and access while precisely locating geological formations to guide summer 2017 exploration activities.
Konecranes new CXT Explorer for remote locations now available on KonecranesDirect.com
Konecranes launched the CXT Explorer, a portable overhead crane system that ships in containers and can be assembled at remote sites in hours. The system is now available for direct online ordering in the US and Canada, targeting mining and industrial operations that need temporary lifting capabilities in remote locations.
Critical Elements submits an Environmental Impact Study for its Rose Lithium-Tantalum Project
Critical Elements Corporation submitted its Environmental Impact Study for the Rose Lithium-Tantalum Project to Quebec and federal environmental authorities. The project has an estimated after-tax IRR of 25% and NPV of $279 million, with planned annual production of 26,606 tons of battery-grade lithium carbonate and 206,670 pounds of tantalum oxide over 17 years.
American Potash enters into strategic partnership with MGX Minerals Inc. for lithium portfolio
American Potash Corp has entered a strategic partnership with MGX Minerals Inc. to develop its lithium brine project in Utah's Paradox Basin covering 13,520 acres. The partnership involves MGX acquiring certain interests through a Power Metals Corp. joint venture agreement and will utilize advanced drilling and extraction technologies for lithium development.
Wasaya Spreads Wings West
Wasaya Airlines, a 100% First Nations-owned airline, announced expanded service including twice daily flights from Winnipeg to Sandy Lake and Pikangikum First Nations starting August 14, 2017. The expansion uses a new Beechcraft 1900D aircraft and increases frequency on the Sioux Lookout-Winnipeg route, enhancing connectivity for remote northern Ontario communities.