Friday 18th August 2017

Resource Clips


Posts tagged ‘british columbia’

Mountain Boy Minerals chairperson René Bernard points out the added potential of barite on a polymetallic B.C. project

August 17th, 2017

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Mining supporters and critics speak out as government ministers meet in New Brunswick

August 14th, 2017

by Greg Klein | August 14, 2017

This is the week that the country’s mining ministers convene with their counterparts from all Canadian jurisdictions. Taking place this year in St. Andrews, New Brunswick, the Energy and Mines Ministers’ Conference will “discuss shared priorities for collaborative action to advance energy and mining development across the country.” Participants will also hear from the industry and its critics, with the latter highlighting NB’s proposed Sisson tungsten-molybdenum open pit mine.

The Canadian Mineral Industry Federation proposed reforms in six key areas that would expand the industry’s “vast socio-economic contributions to Canadians.” Not surprisingly, regulatory streamlining topped the list. The group called for an “effective, timely and co-ordinated regulatory process, from pre-environmental assessment to post-EA permitting.”

Mining supporters and critics make voices heard as government ministers meet in New Brunswick

Workers at the Sisson project, one of the world’s largest
undeveloped tungsten deposits and now site of a protest camp.

Proportionately Canada’s largest private sector employer of natives, the industry called on governments to enhance indigenous participation through “investments in health, education and skills training, and by implementing government resource revenue-sharing mechanisms.”

Looking at climate change, the CMIF warned that poorly crafted regulations could push mining “to competitor countries with less stringent climate change policies.” The group also called on governments to acknowledge the challenges of working in remote regions dependent on diesel fuel.

On a related topic, the CMIF encouraged governments to provide isolated regions with better infrastructure to “benefit both industry and local and indigenous communities.”

Concern about a shrinking land base prompted the CMIF to recommend that “mineral potential is factored into all land withdrawal decision-making processes.”

The group also called for government and industry to collaborate on a Clean Resources Innovation Supercluster, which would concentrate industry, R&D and associated small and medium-sized enterprises in one area to attract investment and develop synergies.

A coalition of native and advocacy groups, however, challenged the conference to make good on this year’s theme of Clean Growth.

“We’re not against ‘clean growth’ or ‘clean energy’ but these must not be empty words,” said Jacinda Mack, co-ordinator of the First Nations Women Advocating for Responsible Mining and a community member affected by British Columbia’s 2014 Mount Polley tailings dam collapse. “We’re here to alert the public and our governments that there are still serious problems with the way mining is done in this country, and that there can’t be any clean growth or clean energy without first having clean mining.”

The coalition also emphasized its opposition to the proposed Sisson open pit mine, about 330 kilometres by road from the conference location. A partnership of Northcliff Resources TSX:NCF and a subsidiary of family-owned Todd Corp, the plan received federal environmental approval in June. Proponents describe Sisson as one of the world’s largest undeveloped tungsten deposits, with an estimated 27-year lifespan.

But a newly released report charges that the project’s “mining waste facility design is business-as-usual, using the same facility design and water cover approach used at the failed Mount Polley mine.”

Members of the Maliseet First Nations have occupied a protest camp at Sisson since early July. In February, chiefs of the six Maliseet nations signed a multi-million-dollar revenue-sharing deal with the province, CBC reported. But five of the chiefs later “denounced” the agreement, the network stated.

The coalition estimates liability for contaminated mine sites across Canada to surpass $10 billion, a figure that “can easily triple or quadruple once the true costs for site cleanup and risks from spills and failures are considered.”

Two newly elected governments join the conference this year. In November the Yukon Liberals returned to power after a 14-year hiatus. Last month B.C.’s NDP was sworn in as the province’s new government after gaining support from the three-MLA Green Party to vote down the minority BC Liberals’ Throne Speech.

René Bernard of Mountain Boy Minerals pursues industrial minerals as well as base and precious metals in B.C.

August 10th, 2017

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Arctic Star’s B.C. discovery potentially associated with “a plethora of commodities”

August 8th, 2017

by Greg Klein | August 8, 2017

Even before the drill core reached the lab, Arctic Star Exploration TSXV:ADD announced a discovery that’s both rare and potentially associated with several metals. The company found a carbonatite-syenite complex on its Cap project in east-central British Columbia.

The potential rewards associated with a new discovery such as at Cap cannot be overstated.—Jody Dahrouge

“Carbonatite is an extremely rare rock type with only around 550 complexes identified worldwide,” explained Jody Dahrouge, president of Dahrouge Geological Consulting, which oversees the exploration program. “In addition to their rarity, they are also well known for being the source of production for a plethora of commodities, including being the dominant source for niobium and rare earth elements. The potential rewards associated with a new discovery such as at Cap cannot be overstated.”

Also associated with mineralized carbonatite systems are tantalum, copper, nickel, iron, titanium, zirconium, platinum group elements, gold, fluorspar, lime, sodalite and vermiculite, Arctic Star added.

Some of the world’s better-known carbonatite deposits include Palabora in South Africa (copper, nickel, gold and PGEs), Bayon Obo in China (REEs, iron ore, niobium and fluorspar), Araxa in Brazil (niobium), Cargill in Ontario (phosphate), Niobec in Quebec (niobium), Mountain Pass in California (REEs), and Mount Weld in Western Australia (REEs).

Arctic Star’s B.C. discovery potentially associated with “a plethora of commodities”

Carbonatite in drill core from hole Cap17-004.

The discovery prompted Arctic Star to stake another 7,657 hectares, expanding its property to over 10,482 hectares. The new turf covers a ridge that extends towards the Wicheeda REE deposit, about 50 kilometres northwest.

Cap’s exploration has so far focused on an area of about 3,000 by 1,000 metres, the site of prior geophysics and anomalous niobium-REE geochemical samples. This season’s work consisted of mapping, sampling, prospecting and four drill holes. Assays are pending but carbonatite and/or alkaline rock types were found in two holes.

Carbonatite in outcrop has been mapped approximately 90 metres in strike, with an estimated thickness surpassing 50 metres. Additional outcrops of carbonatite and related rocks have been found across an area measuring about 800 by 200 metres, the company added.

Last month Arctic Star announced plans to acquire Timantti, a Finnish diamond project on the Fennoscandian Shield, which also hosts Russia’s Lomonosov and Grib diamond mines. Due diligence revealed 58 small diamonds in an 18.9-kilogram sample from Timantti’s White Wolf kimberlite. More recent assays on 48.65 kilograms of historically extracted split core showed 111 microdiamonds.

In late July the company offered a $1.25-million private placement.

Read Isabel Belger’s interview with Arctic Star president/CEO Patrick Power.

Golden Dawn Minerals adviser George Sookochoff studies historical records and new exploration results to shed light on the company’s B.C. package of former mines

August 3rd, 2017

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Finland’s Arctic welcome

August 2nd, 2017

Arctic Star finds the Scandinavian north an hospitable place for diamond exploration

by Isabel Belger

Isabel Belger

Isabel Belger

Isabel: I would like to introduce the CEO and president of Arctic Star Exploration TSXV:ADD, Patrick Power. Hi Patrick, it is a pleasure to talk to you again.

To give the readers a chance to get to know you a bit, would you be so kind as to tell more about your background and your experiences in the mineral exploration business?

Patrick: I started in the business as a floor trader in 1984. I did that until 1990. In that period I met someone who became soon very prolific in the diamond world, Chuck Fipke. He found the Ekati mine, the first diamond mine in Canada and he got my interest up in diamonds and the exploration for diamonds. When I finished with the floor in 1990, I joined up with a company called Kelco Resources and I became a director there. That is how I got involved with the diamond world in Canada. Subsequent to that, I worked with a company called Montello Resources, and became the president and CEO. We did a lot of diamond exploration with that company from 1993 to 2000, primarily in Alberta.

We found the Legend field in Alberta with our venture partner Canaccord Canada, which is a Rio Tinto company. We didn’t have the numbers in the pipes that we wanted to. So my partner Tom Yingling and I started our own company called Arctic Star Exploration. We started with a diamond project in Manitoba with Rio Tinto. It kicked off with that project. We never did intersect in kimberlites. Shortly after that, we managed to encourage Buddy Doyle to leave Rio Tinto and he joined us on the Arctic Star board. That happened in 1996. Buddy Doyle brought over a project with him that we called Credit Lake. We spent about $25 million on Credit Lake over a period of seven to 10 years I believe. It was a long time. It just ended recently.

Isabel: Interesting! That tells already a bit of the history of Arctic Star itself. Congratulations on the news on a new member of the board and your new project in Finland. What made the connection to Finland?

Arctic Star finds the Scandinavian north an hospitable place for diamond exploration

Patrick: Thank you, we are very excited and happy about both. It was about 2006 when Buddy Doyle looked at this project we just took into the company. We made an offer for a percentage of it. But they wanted €12.5 million for 25% of it, which we didn’t have the ability to do back then. Then 2008 came and everything became really difficult for all resource companies, specifically for diamond companies. It became very, very difficult.

Roy Spencer, who you could call the father of the Cinnamon project, found the Grip pipe, 450 kilometres east in Russia as the president of Arctic Angel in 1996. That turned out to be a mine, which started producing about two years ago. But as usual in Russia, he got kicked out before it became productive. He traced chemistry trails to the Finnish border and all those trails originated in Finland somewhere.

Isabel: What makes you so excited about this project?

Patrick: No exploration was done there in historical terms. You cannot tell the quality of the diamonds from the chemistry, but usually you can tell the amount of diamonds. All that chemistry was flooding in over 80 kilometres with no answers as to the sources. In 2007, Roy drilled first in this new field. The important part of this is that fields usually have a minimum of 30 and a high of 300 pipes. The upside potential is that it is the first pipe in a new field and that is extremely important because it has good chemistry. It is a great jurisdiction, Finland. A couple of years ago, the Fraser Institute made Finland the number one mining jurisdiction in the world. Mining and exploration friendly!

Infrastructure-wise, the Black and White Wolf, which were the two first pipes discovered—they might actually be one, because they are only 48 metres apart, we will know more about this after further geophysics being done—are only two miles away from a bus stop. Compared to Canada this is amazing infrastructure and that translates right into that you would need far less grade to become a mine. You can have a lot less compared to the north of Canada in order to be still productive. That is a big point! Also it is a very stable country since it is rated a great jurisdiction to be in. We have got Roy on the board now, the man who found this particular discovery when he was with a different company. Another interesting fact: Roy was Buddy Doyle’s first boss at Rio Tinto. They were in the outback of Australia together for two years looking for diamonds. That was more than 30 years ago. And now they are reunited. So the team is back together again. This is one of the prime reasons we got this project because of this relationship between Buddy and Roy; Roy wanted Buddy to lead the project.

Isabel: What is the plan of the re-united team now?

The project offers everything if you are looking for diamonds. Great jurisdiction, great infrastructure, it is a new field, and it has got history in the same craton with productive mines in Russia.—Patrick Power

Patrick: We are going to get out there. We will go back to the Black and the White Wolf, the two pipes that he found in 2006/2007. We will do some geophysics on top of it that wasn’t done 10 years ago. We want to see if they join, get bigger, have multiple phases, do some more drilling, etc. With those two pipes, or maybe it is one, we can potentially make a mine. So there is work to do on the first two pipes of a new field. We expect to find a lot more pipes and that is exciting because the chemistry going into them is dynamic. The project offers everything if you are looking for diamonds. Great jurisdiction, great infrastructure, it is a new field, and it has got history in the same craton with productive mines in Russia.

Isabel: Let me interrupt you for a moment. Could you explain what a craton is?

Patrick: Sure. A craton is a thick, old chunk of continental plate where diamonds form. Kimberlite pipes are created when magma bubbles up through a craton, expanding and cooling on its way up.

I am really glad that we have got all that exceptional expertise within Arctic Star…. Roy was part of the team that found Orapa, the second-largest producing mine in the world that is in Botswana. So we have got lots of positive diamond experience with the two guys, plus they work together and like each other. Their records speak for themselves. They are probably the two most awesome diamond guys with that combined experience and mine-finding ability. They are pretty amazing. We’ve got the best people in the world.

Isabel: Yes, it sounds like it! So the next step is to do more work on your new project. Will you drill, and how deep will you have to drill?

Patrick: The two pipes are very close to the surface, so it is not that deep at all. We have two phases of two programs here. The first program will be carried out on Black and White Wolf, the two existing kimberlites. We will do geophysics on the ground, to determine whether they get larger, whether they come together and whether they have multiple phases. We will also put more drill holes into it to get more samples to get a better diamond count. Buddy thinks we need about 1,000 kilograms before he can make a judgement if we go ahead with it or if we drop it, so we only have a very small amount of material so far. We will take a lot more tonnage out of these drill holes.

Arctic Star finds the Scandinavian north an hospitable place for diamond exploration

Arctic Star VP of exploration Buddy Doyle collecting
float samples at the Timantti project in Finland.

And then out of a bigger concept, we have 250 hectares of mineral claim permitted; 140,000 square kilometres around it. So on that bigger puzzle we could encompass the entire field. We are going to fly EM and mag first and then we want to fly a gravity survey, which is quite expensive. It costs probably about three to four million dollars to get the gravity survey done, but it will be a tool that will be very useful. It has not been used that much in the diamond world; it is only a few years old. Gravity is a very difficult thing to produce on the ground. There are a lot of factors involved with that. This new tool that was developed by the U.S. military was re-developed into a commercial application by BHP and has been on the market for just a few years. Very expensive!

So that is what we plan to do on the big package, not just the claims we acquired, but the much bigger exploration permits that we are in the process of acquiring from the government. We think that this would give us the entire field picture. We will be able to prospect for the pipes in that field. That will be a big thing! We think there are a lot of pipes in this area. If the chemistry is good, it is suggested to have a lot of diamonds. But I repeat to state that it doesn’t tell you the quality of diamonds, but the quantity of diamonds.

Isabel: What is the time frame for that? This is not going to happen this year, is it?

Patrick: The only thing that is restricting us up there is the darkness. The latitude is pretty high, but it is not as cold as in northern Canada. So there is no temperature issue and again the infrastructure is great. It is just within the dark months that we can’t really do much.

Isabel: What is going on at your Cap property in northeast B.C.?

Patrick: In 2008 we diversified a bit from diamonds. We picked up a project from Zimtu [TSXV:ZC]. It is Jody Dahrouge [of Dahrouge Geological Consulting] who has been doing all the work on it for us. We spent only about $1 million developing a really nice niobium and rare earth target. It is probably in carbonatite; we are drill-testing as we speak. It has really good niobium numbers on surface and it is prospective. We decided with a million dollars into it, we need to drill it right now and we are crossing our fingers. It could be something really interesting. If we are successful, we are probably going to spin it out into a new company. We don’t want to mix niobium and diamonds. It will benefit the shareholders with a new share in a new company and we will staff it with people that know a lot about niobium.

Isabel: That sounds like a good plan! How much money do you have in the bank?

Patrick: We are planning to finance soon.

Isabel: How much of Arctic Star is held by the management?

Patrick: That sums up to be 25% by now.

Isabel: What do you like about the mineral exploration business?

Patrick: It is a difficult business, but it can be explosive on the upside. That is the thrill I like about it, which makes the difficult part worthwhile.

Isabel: What is your favourite commodity and why?

Patrick: Definitely diamonds! The reason for that is because it is so hard to find an economic deposit. It is very challenging.

Isabel: Good luck with the ongoing drilling in B.C. and with the new project in Finland. Thank you so much for your time and your insights. It is always a pleasure to talk to you.

Patrick: Thanks for having me, Isabel.

Patrick Power

Patrick Power, president/CEO
of Arctic Star Exploration

Bio

Patrick Power is a seasoned venture capitalist and financier with over 20 years of experience as a stock market professional and as director of public companies. He has been president and CEO of Arctic Star since its inception in 2002. Additionally, Mr. Power serves as a director of other mineral exploration companies. Arctic Star benefits from Mr. Power’s wealth of experience as a shrewd dealmaker, an adept financier and a tireless, results-driven leader of dynamic public companies. The company enjoys Mr. Power’s large network of contacts within the industry, his enthusiasm and his efforts as a member of the audit and remuneration panels.

Fun facts

My hobbies: Travelling and horse racing

Sources of news I use: Internet

My favourite airport: London Heathrow

My favourite tradeshow: PDAC in Toronto

My favourite commodity: Diamonds

With this person, I would like to have dinner: My wife

If I could have a superpower, it would be: Power for peace

Read more about Arctic Star Exploration here and here.

New assays on old core reveal more diamonds on Arctic Star Exploration’s new Finnish acquisition

July 26th, 2017

by Greg Klein | July 26, 2017

Just weeks after announcing plans to take on a diamond project in Finland, Arctic Star Exploration TSXV:ADD has found further encouragement by reanalyzing previous work. Recent assays on 48.65 kilograms of historically extracted split core showed 111 microdiamonds. The results represent approximately 52.7 metres of core from the Timantti property’s White Wolf kimberlite.

New assays on old core reveal more diamonds on Arctic Star Exploration’s new Finnish acquisition

A due diligence program reported earlier this month confirmed 58 microdiamonds from an 18.9-kilogram White Wolf sample.

With most of the world’s diamond-bearing kimberlites showing an exponential relationship between small and large stones, the company plans to gather enough caustic fusion samples to evaluate the property’s diamond size distribution. Following ground geophysics, Arctic Star hopes to drill Timantti for additional samples, delineating the kimberlites’ size and shape.

Looking at an entirely different range of commodities, the company last week sent a drill crew to the Cap project in east-central British Columbia’s Rocky Mountain Rare Metal Belt. Tantalum, niobium and rare earths are among the targets on the 2,825-hectare property. In 2010 sampling results included 0.14% Nb2O5, 3,191 ppm zirconium and 547 ppm total rare earth elements. More sampling the following year brought grades including 0.27% Nb2O5 and 773 ppm TREE, while two historic, non-43-101 samples showed 0.13% and 0.1% TREE.

Arctic Star also holds a 40% interest in the Northwest Territories’ Diagras diamond project, where JV partner Margaret Lake Diamonds TSXV:DIA conducted a short geophysical program last May.

Hedging his energy bets

July 24th, 2017

Adrian Lamoureux of 92 Resources pursues green lithium and fossil-fuel frac sand

by Isabel Belger

Isabel Belger

Isabel Belger

Isabel: I would like to introduce the CEO of 92 Resources TSXV:NTY Adrian Lamoureux. Hi Adrian, it is a pleasure to talk to you again. To get started I would like to ask you to tell us a little bit about your background and how you became CEO of 92 Resources.

Adrian: Hi Isabel, thank you for having me. I had been active with finance and investor relations for public companies for about a decade before I received my opportunity to run one. Raising capital and marketing helped me form very strong opinions on how a company should be run, so I was always looking to move up the corporate ranks.

Isabel: 92 Resources has two lithium projects. One is in the Northwest Territories and one is in Quebec. What makes these projects so valuable?

Adrian: Lithium is not only a commodity for today, but rather a commodity for tomorrow. We see today’s strong demand as just the beginning, with a global push towards green energy. Simply put—lithium is the way of the future.

Isabel: What are the highlights on these projects so far?

Adrian: Hidden Lake, NWT, has been successful right from the get-go. Last summer we pulled a sample high of 3.08% Li2O and a channel sample of 1.9% Li2O over 9.02 metres. Most recently we conducted a metallurgical program, where we produced a 6.16% Li2O concentrate.

Adrian Lamoureux of 92 Resources pursues green lithium and fossil-fuel frac sand

Initial metallurgical tests suggest the suitability of conventional
processing methods for pegmatites from Hidden Lake. The 1,100-
hectare property has nearby highway access leading to Yellowknife,
about 40 kilometres west.

Isabel: 92 Resources also has a frac sand project in British Columbia. I am not sure if everyone knows what frac sand is and is used for. Could you give a brief introduction to the application and demand, as well as of course about your project itself?

Adrian: The Golden frac sand property is ideally situated. Our project sits immediately adjacent to a frac sand [deposit] and rail access. Some of the biggest oil basins in North America are shale, and the best method of extraction is through fracking. Sand is forced down horizontal wells under high pressure, bracing cracks within the shale open, which is where the oil can be liberated and pumped out. The demand for frac sand has continued to grow in light of a slip in oil prices. This is attributed to re-fracking of older wells, a higher rig count and increased frac sand intensity on a per-well basis.

Isabel: What is the most exciting thing happening right now at 92 Resources?

Adrian: We’re having success on multiple fronts. I feel we are at the right place at the right time.

Isabel: What are the plans for the rest of 2017 and what are the next milestones for 92 Resources?

Adrian: Our plans are focused, continued growth through acquisition and development. We need to move vertically with current demand and always be looking to where future demand should be.

Isabel: What do you like about the mineral exploration business?

Adrian: I like being able to take an idea or concept and turn it into something real, something that shareholders and hopefully the world can benefit from.

Isabel: What is your favourite commodity and why?

Adrian: Lithium is my favourite. This green energy commodity is changing the world as we know it.

Isabel: Thank you very much for your time, Adrian.

Adrian Lamoureux

Adrian Lamoureux,
92 Resources CEO

Bio

Adrian Lamoureux has worked in the venture capital markets for the past eight years, specializing in the design and implementation of market strategies and corporate development. He has particular expertise in the mineral exploration and development sector. During his time working in venture capital markets, Lamoureux has financed a number of successful private and public companies.

Fun facts

My hobbies: European football

My favourite airport: Schiphol, Amsterdam

My favourite tradeshow: PDAC in Toronto

My favourite commodity: Lithium

With this person I would like to have dinner: Cristiano Ronaldo

If I could have a superpower, it would be: Invisibility

My role model: My father

Read more about 92 Resources’ Hidden Lake lithium project and Golden frac sand project.

About time: BCSC warns investors of “Vancouver Stock Exchange”

July 20th, 2017

by Greg Klein | July 20, 2017

Juniors, brokers, promoters desert Toronto to revive the Vancouver Stock Exchange

Better late than never, a warning sign
stands guard outside the former VSE building.

Whether inspired by a death wish or sheer audacity, an alleged scam has been named after the reputed scam capital of the world. On July 19 the British Columbia Securities Commission warned investors that a company called Vancouver Stock Exchange Corp “appears to have been issuing stock exchange listings to companies in China and B.C…. VSEC holds itself out as being the old Vancouver Stock Exchange (VSE). In fact, the VSE no longer exists.”

Moreover the new entity has no authorization to operate as an exchange in B.C.

The VSE merged with the Alberta exchange in 1999 to form the Calgary-based Canadian Venture Exchange, which was taken over in 2001 by the TMX Group’s (TSX:X) predecessor. But according to the commission, “VSEC claims that, in June of 2016, the old Vancouver Stock Exchange was reinstated as an independent exchange.”

VSEC’s Chinese-language website “identifies the companies that it purports to have approved for listing and capital raising,” the BCSC added. Anyone with info about VSEC is asked to contact BCSC Inquiries at 604-899-6854, 1-800-373-6393 or inquiries@bcsc.bc.ca.

On April 1, 2016, ResourceClips.com spoofed that a group of stock promoters planned to re-open the infamous VSE. See other April 1 stories:

Diamond explorer Arctic Star to drill B.C. property for rare earths and rare metals

July 19th, 2017

by Greg Klein | July 19, 2017

With a crew now en route, Arctic Star Exploration TSXV:ADD prepares to begin a summer field program at its Cap project in east-central British Columbia. Located in the Rocky Mountain Rare Metal Belt, the 2,825-hectare property has undergone geochemical and geophysical surveys suggesting potential for carbonatite intrusions which might host niobium, tantalum and/or rare earth elements. A program of about three holes and 1,000 metres will further investigate the potential.

Diamond explorer Arctic Star to drill B.C. property for rare earths and rare metals

Piquing interest in the property is a circular magnetic anomaly measuring about three to five kilometres in diameter that the company interprets to represent a carbonatite or similar intrusion. Geochem sampling in 2010 on two dykes near the most prominent mag anomaly brought grades including 0.14% Nb2O5, 3,191 ppm zirconium and 547 ppm total rare earth elements, Arctic Star reported.

In 2011, following radiometrics and additional magnetics, the company found more highly anomalous grades with samples containing 0.27% Nb2O5 and 773 ppm TREE. Two historic, non-43-101 samples assayed 0.13% and 0.1% TREE.

Contrasting luxuries with critical minerals, Arctic Star last week announced plans to acquire a diamond project in Finland. The diamondiferous kimberlites of the Timantti property sit on the Fennoscandian Shield, home to the major Russian diamond mines Lomonosov and Grib.

In May the company announced a short program of geophysics on the Diagras diamond project in the Northwest Territories, where Arctic Star has a 40% stake with JV partner Margaret Lake Diamonds TSXV:DIA holding the rest.