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Northwest Territories.
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$500,000 federal funding to help promote northern mining at annual conference
The federal government announced $500,000 in funding to help the Yukon Mining Alliance promote northern Canadian mining opportunities at the annual PDAC conference over the next three years. The initiative aims to attract international investment to Canada's northern territories and create jobs for Indigenous and northern residents.
Rover Metals Corp. announces 3D interpretative exploration model for the Cabin Lake Gold Project
Rover Metals has developed a 3D interpretative exploration model for its Cabin Lake Gold Project in the Northwest Territories, integrating recent geophysical and geochemical data to identify untested fold areas with high-grade gold potential. The model highlights the Bugow Iron Formation as the primary host rock and references a historical mineral inventory of 100,000 tons at 0.30 ounces per ton gold from the 1980s.
Osisko Metals participates in a $250,000 donation to UNB for the Osisko Field Education Fund
Osisko Metals joined forces with two other Osisko companies to donate $250,000 to the University of New Brunswick's Earth Sciences Department, creating the Osisko Field Education Fund. The fund will help reduce costs for geology field school courses, making them more accessible to students while supporting educational excellence.
Rio Tinto celebrates opening of new diamond pipe at Diavik
Rio Tinto celebrated the opening of its fourth diamond pipe (A21) at the Diavik Diamond Mine in the Northwest Territories, representing a $350 million investment over four years. The new open pit will sustain production levels for the next four years, with full production expected in Q4 2018.
20 years of diamonds yield a lot of brilliance at the Ekati Mine
Dominion Diamond Mines celebrated the 20th anniversary of Canada's first diamond mine, the Ekati Mine in Northwest Territories. The mine has produced over 80 million carats and processed 80 million tonnes of ore since opening in 1998, with operations expected to continue until 2034 and potentially beyond with ongoing exploration.
Mountain Province Diamonds holds fourth diamond sale of 2018 — totals $36.2 million
Mountain Province Diamonds completed its fourth diamond tender sale of 2018, generating US$28.3 million (CDN$36.2 million) - the highest total for any tender result to date. The sale attracted strong customer participation with 191 companies attending and healthy bidding activity, reflecting positive rough diamond market sentiment driven by stable supply and strong US and China retail markets.
Mountain Province Diamonds announces the appointment of Stuart Brown as incoming President and CEO
Mountain Province Diamonds announced the appointment of Stuart Brown as President and CEO, bringing over 25 years of diamond industry experience including senior roles at De Beers and CEO of Firestone Diamonds. The company operates a 49% stake in the Gahcho Kué diamond mine in Northwest Territories, described as the world's largest new diamond mine.
Seabridge discovers new gold zones at Courageous Lake
Seabridge Gold discovered two new gold zones (Olsen and Marsh Pond) at its Courageous Lake Project in Northwest Territories through winter drilling, with widths and grades suggesting they could contribute resources similar to the company's Walsh Lake Deposit which contains 482,000 ounces of gold. The company identified these zones as part of testing seven targets across a 7.5-kilometer area of favourable stratigraphy that extends over 53 kilometers.
Osisko Metals completes winter drill program at Pine Point
Osisko Metals completed a 129-hole, 7,860-metre winter drilling program at the Pine Point zinc-lead project in the Northwest Territories. The program targeted near-surface historical deposits to convert 50 million tonnes of unclassified resources to NI 43-101 Indicated Resources. This is part of a larger 50,000-metre, 700-hole drilling campaign for 2018 at the former Cominco mining operation.
Fortune Minerals reports Tlicho all-season road approval
Fortune Minerals received approval for the 97-kilometre Tlicho all-season road that will connect the community of Whatì to the territorial highway system. This road approval, combined with Fortune's previously approved 49-kilometre spur road, will enable the company to transport metal concentrates from its NICO cobalt-gold-bismuth-copper project to a planned refinery in Saskatchewan.
Update on the Kennady North winter drilling program
Kennady Diamonds reported strong progress on its winter drilling program at the Kennady North diamond project in Northwest Territories, with 1,868 meters completed and all eleven holes intersecting kimberlite. The company achieved a significant 50-meter kimberlite intercept on the Faraday 2 northwest extension and confirmed increased size potential for the Faraday 1-3 complex, which will be accretive to overall tonnage estimates.
Mountain Province Diamonds signs non-binding MoU with De Beers regarding Kennady Diamond Resources
Mountain Province Diamonds has signed a non-binding memorandum of understanding with De Beers regarding the Kennady Diamond Resources project. The agreement appears to be in preliminary stages as indicated by its non-binding nature.
Kennady’s 2018 winter exploration program begins
Kennady Diamonds has launched its 2018 winter exploration program at the Kennady North diamond project in Northwest Territories, planning 10,500 meters of drilling through mid-May. The program focuses 60% on grassroots exploration targets and 40% on delineation drilling at the Faraday kimberlites, with the company having closed $2.5M in financing to fund operations.
Switch to biomass cuts costs and GHG emissions in Yellowknife
The City of Yellowknife has implemented a Biomass District Energy System that replaces heating oil with wood pellets for five municipal buildings. The system is expected to reduce GHG emissions by 829 tonnes annually and save the city $140,000-$160,000 per year while supporting local wood pellet production.
Mountain Province Diamonds provides exploration update on southwest corridor at the Gahcho Kué Mine
Mountain Province Diamonds reported successful exploration results from the Southwest Corridor at Gahcho Kué Mine, intercepting kimberlite in all six holes drilled to date. The company has completed 70% of a ground gravity survey that identified a potential new target between Tesla and Tuzo pipes, with drilling expected to continue until mid-March 2018.
Seabridge Gold to drill Courageous Lake Project this winter
Seabridge Gold announced a 36-hole, 7,200-meter winter drilling program at its Courageous Lake Project in Northwest Territories, targeting seven areas that could extend mine life. The company is looking for more Walsh Lake-style deposits that could be mined before the main FAT deposit, potentially generating early cash flow for the remote project.
Mountain Province Diamonds results of ninth diamond sale
Mountain Province Diamonds reported stable to firm pricing in its ninth diamond sale, with average prices 2% higher than the previous sale driven by improved quality distribution and increased demand. The company highlighted strong customer participation with over 150 companies attending and the highest monthly recovered grade achieved to date at the Gahcho Kué mine.
Kennady files NI 43-101 Faraday resource report on SEDAR
Kennady Diamonds filed a NI 43-101 technical report establishing a maiden inferred mineral resource of 5.02 million carats for its Faraday kimberlites in the Northwest Territories. The resource contains 3.27 million tonnes of kimberlite grading 1.54 carats per tonne with an average value of US$98 per carat, adding to the company's existing 13.62 million carat indicated resource at the adjacent Kelvin kimberlite.
Seabridge Drilling confirms promising gold target at Iskut Project
Seabridge Gold completed its first exploration program at the Quartz Rise target within its Iskut Project, drilling 10 holes totaling 4,459 meters. The program identified a gold-bearing epithermal system with high-grade intercepts including 74.1 g/T gold over 1.5 meters, confirming the target's potential for significant discovery.
Exploring the gas fields of the Northwest Territories
The Northwest Territories opened the 138-kilometre Inuvik Tuktoyaktuk Highway in 2017, providing year-round access to a region rich in natural gas fields. The government is now evaluating how to utilize these gas resources, considering options from local power generation to LNG export terminals.
Mountain Province Diamonds results of seventh diamond sale and exploration update
Mountain Province Diamonds completed its seventh diamond sale, selling 463,000 carats for US$27.1 million - a 30% increase in proceeds and the company's largest single sale to date. The joint venture partners have also approved a $2.3 million fall exploration program at the Southwest Corridor area between kimberlite pipes at the Gahcho Kué mine.
Kennady completes successful summer program
Kennady Diamonds completed a successful summer drilling program on its Northwest Territories diamond project, extending the Faraday 2 kimberlite by 150 metres to a total strike length of 600 metres. The program drilled 2,766 metres across nine holes and confirmed that Faraday 1 and 3 kimberlites are connected, forming a single body. Maiden resource results are expected within the next week to ten days.
Silver Range Resources Ltd. completes option agreement with GGL Resources Corp.
Silver Range Resources has received TSX Venture Exchange acceptance for its option agreement with GGL Resources to explore the Providence Greenstone Belt Project in Northwest Territories. The 30,657-hectare project contains numerous gold and base metal showings across a 140-kilometre greenstone belt, with Silver Range mobilizing geological teams for mapping and sampling programs.
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.