Sunday 25th August 2019

Resource Clips


Posts tagged ‘gold’

Conrad Black proposes “sensible, radical and imaginative” support for the Canadian dollar

July 8th, 2019

…Read more

Update: 92 Resources explores polymetallic potential of Quebec’s James Bay region

July 8th, 2019

by Greg Klein | updated July 8, 2019

Lithium, gold, copper and molybdenum are among the goals of a program now underway at 92 Resources’ (TSXV:NTY) Corvette-FCI project. A four-person crew expects to spend three to four weeks on the property, which consists of 92’s 100%-held Corvette claims as well as the FCI-East and FCI-West turf, optioned under a 75% earn-in from Osisko Mining TSX:OSK. Work will be conducted by Dahrouge Geological Consulting.

92 Resources to explore polymetallic potential of Quebec’s James Bay region

Over a campaign of three to four weeks, 92 Resources hopes to
build on previous success with energy, precious and base metals.

The agenda calls for prospecting along with rock and soil sampling. Among the priorities will be the Golden Gap Prospect at FCI-West, where historic, non-43-101 outcrop samples have graded between 3.1 g/t and 108.9 g/t gold, along with an historic drill intercept of 10.5 g/t over seven metres and a channel sample of 14.5 g/t over two metres.

Past reports of molybdenum occurrences on the area’s southern copper trend will also come under scrutiny.

The Lac Bruno prospect provides another area of interest, where a boulder field produced 13 samples exceeding 1 g/t gold, with one sample hitting 38.1 g/t. Up-ice soil sampling will extend from FCI-East to the boulders’ interpreted source on 92’s wholly owned Corvette claims.

Energy metals also attract interest, as the company’s previous work identified a well-mineralized lithium pegmatite system over a strike extending at least three kilometres on Corvette, with further potential on FCI-East. Lithium-tantalum channel samples released last year from Corvette’s CV1 pegmatite averaged 1.35% Li2O and 109 ppm Ta2O5, reaching as high as 2.28% Li2O and 471 ppm Ta2O5 over six metres. Three other spodumene-bearing pegmatites also show promise.

Located within the Guyer group of the Greater La Grande Greenstone Belt, the property sits about 10 kilometres south of the all-season Trans-Taiga Road and powerline, adjacently south of Midland Exploration’s (TSXV:MD) Mythril copper-gold-molybdenum-silver project and immediately east of Pikwa, a polymetallic project of Azimut Exploration TSXV:AZM and Ressources Québec’s SOQUEM subsidiary.

92’s Quebec portfolio also includes the Pontax, Eastman and Lac du Beryl properties. Grab samples from Pontax have reached up to 0.94% Li2O and 520 ppm Ta2O5.

In British Columbia 92 holds the Silver Sands vanadium prospect and the Golden frac sand project, the latter adjacent to Northern Silica’s high-grade Moberly silica mine and subject of a 43-101 technical report filed by 92 last year.

In the Northwest Territories, the company has a 40% stake in the Hidden Lake lithium project, with Far Resources CSE:FAT holding the remainder. In a 1,079-metre drill program last year, all 10 holes found grades above 1% Li2O, with one intercept showing 1.6% over 9.2 metres. Using Hidden Lake material, a mini pilot plant produced 40 kilograms of concentrate grading 6.11% Li2O with recovery over 80%.

Nunavut art, Nunavut gold celebrate Nunavut anniversary numismatically

June 26th, 2019

by Greg Klein | June 26, 2019

A bit late for the April 1 birthday but an impressive work just the same, the Royal Canadian Mint has unveiled its latest collector coin commemorating Nunavut’s creation. The gold comes from two territorial mines and the design from a Nunavummiuq artist.

Nunavut art, Nunavut gold celebrate Nunavut anniversary

The most recent coin displays
Germaine Arnaktauyok’s work.

“The Mint is passionate about honouring Canadian talent and celebrating our exceptional cultural diversity through beautifully crafted coins,” said president/CEO Marie Lemay. “We are proud to honour Germaine Arnaktauyok’s artistic legacy, in pure Nunavut gold, to wish the people of this important territory a happy 20th anniversary.”

With one-tenth of an ounce of 99.99% yellow metal from Agnico Eagle Mines’ (TSX:AEM) Meadowbank and TMAC Resources’ (TSX:TMR) Hope Bay mines, the coin has a face value of $20 but sells for $359.95 in a limited edition of 1,500. The piece depicts an Inuit drummer that Arnaktauyok created for a circulating toonie struck in 1999 on the new territory’s birth. The flip side portrays the Queen.

Nunavut art, Nunavut gold celebrate Nunavut anniversary

A 2018 coin featured Andrew Qappik’s images.
(Photos: Royal Canadian Mint)

It’s the second coin in a year featuring Nunavut gold and artistry. In June 2018 the Mint released a $20 piece using Meadowbank and Hope Bay gold as the canvas for Andrew Qappik’s images of a walrus, ptarmigan, polar bear, bowhead whale and narwhal.

By far Nunavut’s largest private sector employer, the industry now has four territorial mines in operation, including Baffinland Iron Mines’ Mary River and Agnico Eagle’s Meliadine, which achieved commercial gold production just last month. Agnico Eagle also has Amaruq, a satellite project 50 kilometres northwest of Meadowbank, slated for commercial production in Q3.

At Hope Bay, TMAC hopes to begin production on its Madrid and Boston gold deposits in 2020 and 2022 respectively, adding to current output from the Doris operation.

Baffinland currently has community consultations underway as part of a Nunavut Impact Review Board process for two railways that the company proposes building to expand Mary River output.

Among Nunavut’s other promising projects are Sabina Gold and Silver’s (TSX:SBB) Back River gold project, which has received all major permits since reaching feasibility in 2015, and De Beers’ Chidliak project, subject of the giant’s buyout of Peregrine Diamonds last year.

Read more about the Royal Canadian Mint.

An infographic intro into in-situ mining

June 25th, 2019

by Nicholas LePan | posted with permission of Visual Capitalist | June 25, 2019

 

An intro to in-situ mining

 

How do you mine without moving a rock?

When most people think of mining they think of massive open pits or deep underground tunnels. But there is one mining method that does not move a rock and leaves the landscape as is.

This infographic from Excelsior Mining TSX:MIN outlines a unique mining method, in-situ recovery or ISR, also known as in-situ mining.

ISR is not a recent innovation in the mining sector. In fact, ISR has been used for the past 50 years in uranium mining and 48% of the world’s uranium gets mined this way. Uranium is not the only mineral ISR can extract; there is also silver, copper and sometimes gold.

ISR involves dissolving a mineral deposit in the ground and then processing it at surface, all without moving any rock. It is cost effective and environmentally friendly.

But if this method is so great, why don’t more companies mine this way?

The right geology

ISR is not widely used because the geological conditions have to be just right. There are few locations around the world that meet the following criteria:

Highly permeable ore body: In the case of copper, the ore body must be naturally broken, fractured and permeable.

Mineable: The target mineral must be soluble with the right fluid, typically a weak acid.

Under the water table: The mineral deposit must be below the water table to allow for the movement of fluids throughout the ore body.

If geologists can find these conditions and it is a large-enough mineral deposit, it is time to mine.

The ISR process for copper

Once the right conditions are met and drill holes are sunk into the ore body, mining can begin.

  • Leaching solution is pumped through injection wells

  • The solution moves through the naturally fractured rock and leaches the copper

  • Recovery wells extract the copper-rich solution

  • Solution is pumped to the surface to the plant for processing

  • Copper is extracted from the solution to create pure copper sheets

  • Mining solution is recycled back to the wellfield

Once an area is mined, the wells are flushed with water to clean out any remaining leaching solution. Meanwhile, the surface is returned back to pre-mining conditions, allowing it to be used for any purpose in the future.

Advantages of in-situ mining

The environmental advantages include minimal noise, dust or greenhouse gas emissions, along with minimal visual disturbance. In addition, ISR also lowers capital and operating costs while creating a safer environment for mine workers.

Too bad not all mines can operate without moving a rock.

Posted with permission of Visual Capitalist.

92 Resources to explore polymetallic potential of Quebec’s James Bay region

June 19th, 2019

by Greg Klein | June 19, 2019

Lithium, gold, copper and molybdenum are among the goals of a program that begins next month at 92 Resources’ (TSXV:NTY) Corvette-FCI project. The property consists of 92’s 100%-held Corvette claims as well as the FCI-East and FCI-West turf, optioned under a 75% earn-in from Osisko Mining TSX:OSK. Work will be conducted by Dahrouge Geological Consulting.

92 Resources to explore polymetallic potential of Quebec’s James Bay region

Over a campaign of three to four weeks, 92 Resources hopes to
build on previous success with energy, precious and base metals.

The agenda calls for prospecting along with rock and soil sampling. Among the priorities will be the Golden Gap Prospect at FCI-West, where historic, non-43-101 outcrop samples have graded between 3.1 g/t and 108.9 g/t gold, along with an historic drill intercept of 10.5 g/t over seven metres and a channel sample of 14.5 g/t over two metres.

Past reports of molybdenum occurrences on the area’s southern copper trend will also come under scrutiny.

The Lac Bruno prospect provides another area of interest, where a boulder field produced 13 samples exceeding 1 g/t gold, with one sample hitting 38.1 g/t. Up-ice soil sampling will extend from FCI-East to the boulders’ interpreted source on 92’s wholly owned Corvette claims.

Energy metals also attract interest, as the company’s previous work identified a well-mineralized lithium pegmatite system over a strike extending at least three kilometres on Corvette, with further potential on FCI-East. Lithium-tantalum channel samples released last year from Corvette’s CV1 pegmatite averaged 1.35% Li2O and 109 ppm Ta2O5, reaching as high as 2.28% Li2O and 471 ppm Ta2O5 over six metres. Three other spodumene-bearing pegmatites also show promise.

Located within the Guyer group of the Greater La Grande Greenstone Belt, the property sits about 10 kilometres south of the all-season Trans-Taiga Road and powerline, adjacently south of Midland Exploration’s (TSXV:MD) Mythril copper-gold-molybdenum-silver project and immediately east of Pikwa, a polymetallic project of Azimut Exploration TSXV:AZM and Ressources Québec’s SOQUEM subsidiary.

92’s Quebec portfolio also includes the Pontax, Eastman and Lac du Beryl properties. Grab samples from Pontax have reached up to 0.94% Li2O and 520 ppm Ta2O5.

In British Columbia 92 holds the Silver Sands vanadium prospect and the Golden frac sand project, the latter adjacent to Northern Silica’s high-grade Moberly silica mine and subject of a 43-101 technical report filed by 92 last year.

In the Northwest Territories, the company has a 40% stake in the Hidden Lake lithium project, with Far Resources CSE:FAT holding the remainder. In a 1,079-metre drill program last year, all 10 holes found grades above 1% Li2O, with one intercept showing 1.6% over 9.2 metres. Using Hidden Lake material, a mini pilot plant produced 40 kilograms of concentrate grading 6.11% Li2O with recovery over 80%.

Saville Resources/Commerce Resources report best-yet niobium hole from Quebec critical minerals project

June 11th, 2019

This story has been expanded and moved here.

Update: Saville Resources/Commerce Resources hit more near-surface, high-grade niobium, with tantalum and phosphate in Quebec

June 6th, 2019

This story has been expanded and moved here.

Ximen Mining gold acquisition continues southern B.C. expansion

June 4th, 2019

by Greg Klein | June 4, 2019

Adding to its portfolio of southern British Columbia past-producers, Ximen Mining TSXV:XIM announced the 100% acquisition of the former Amelia gold operation. Amelia’s 199.46 hectares cover the Cariboo-Amelia mine, which underwent intermittent operation from 1894 to 1962. During that time it produced 124,452 tonnes for 81,602 ounces of gold, 32,439 ounces of silver and, since 1940, 113,302 pounds of lead and 198,140 pounds of zinc, according to B.C. government data cited by Ximen. Gold grades averaged 24.68 g/t.

Ximen Mining gold acquisition continues southern B.C. expansion

On TSXV approval, Ximen gets the Kootenay-region property for 212,888 shares.

The company’s southern B.C. holdings include a 100% stake in the Brett property about 29 kilometres west of Vernon. The 20,025-hectare epithermal gold project features historic grades as high as 168 g/t gold over 1.3 metres, as well as surface trench samples of 291 tonnes averaging 28 g/t gold and 64 g/t silver. Epithermal deposits provide some of the world’s largest and highest-grade gold mines, Ximen states.

In B.C.’s historic Greenwood camp, Ximen has optioned its Gold Drop project to GGX Gold TSXV:GGX, which began spring drilling in April. (Update: On June 6 Ximen and GGX announced the program had finished, with assays pending for 20 holes totalling 1,217 metres. Further drilling is planned.) An extensive campaign last year found high-grade, near-surface gold-silver intercepts, along with tellurium.

Also in April Ximen staked the Providence claim, another 12,900 hectares surrounding Gold Drop and bordering other active projects in this busy camp dotted with former workings. The company has rock and soil sampling, along with trenching planned for Providence.

A few days after that acquisition, Ximen optioned a numbered company whose chief asset is an option on another Greenwood property, the Kenville project.

Last month a program of sampling, trenching and drilling began on Ximen’s Treasure Mountain silver property by option partner New Destiny Mining TSXV:NED. Located about four hours northeast of Vancouver, the 10,700-hectare property is proximal to Nicola Mining’s (TSXV:NIM) Treasure Mountain silver project, where underground mining most recently took place in 2008 and 2013.

On April 16 Ximen closed a private placement of $405,000.

Conscription, colonization, a gold-backed buck: Some Conrad Black remedies for Canada

June 3rd, 2019

by Greg Klein | June 3, 2019

Here’s a guy who wants to make this country a “world-important nationality”—in other words, to put Canada on the map. Yes, a country that makes “unassuming” a euphemism for “sub-mediocre” just might have hope after all. But Canadians would have to follow Conrad Black’s plan, Conrad Black says.

Conscription, colonization, a gold-backed buck Some Conrad Black remedies for Canada

Not at all modest in his proposals, the former Canadian who renounced his citizenship outlines them in his most recent book, The Canadian Manifesto. Despite zero likelihood of finding acceptance, the ideas do offer a peculiar interest.

Forced military service is one of them, as is a Canadian colonial empire in the Caribbean. Of interest to goldbugs, however, is Black’s “sensible, radical and imaginative” alternative to the northern peso: “Canada should tie the value of its currency to a combination of the prices of gold, oil, and a consumer shopping basket in equal thirds.”

Sounds interesting, as far as it goes. But that’s as far as it goes. Black provides no additional info.

As for Canada’s resource industries, Black lambastes the “faddish environmental trends” holding them back.

“All that we have that the world needs are natural resources. More than forty per cent of the stock values on the Toronto Stock Exchange are extractive industries that operate in Canada. The banking cartel lives largely off the resources companies, which feed all heavy, and most light industry, and the legal and accounting and consulting professions live off the banks and their principal clients.”

Speaking of the TSX, Black says it suffers from over-regulation. He suggests one province, preferably Alberta, simplify its securities system. Provinces that follow its example “would almost immediately become serious international financial centres, and not just, as Canadian stock exchanges have always been, non-essential eddies of local resource promotion and small-capital start-ups and the odd site of a great international and inter-listed company. Canada could easily surpass Singapore, Hong Kong, and any other centre—except New York and London and perhaps Tokyo and Shanghai—as a world leader in modern securities issuance and trading.”

A capricious and pestilential tumour on the entire Canadian securities industry.—Conrad Black ponders the
Ontario Securities Commission

As for that “sociopathic securities regulator” looming over Toronto, “an added benefit would be the humbling of the Ontario Securities Commission, which periodically tries to shoulder aside the other provinces and become a national regulator, and has become a capricious and pestilential tumour on the entire Canadian securities industry, such, in its stunted condition, as it is.”

Looking at other aspects of the Canadian malaise, Black challenges the Charter of Rights, under which “practically every judge in Canada is now cock-a-hoop imposing his or her own idiosyncratic versions of legislation.

“[….] Pierre Trudeau himself told me, nearly twenty years after the patriation of the Constitution and promulgation of the Charter, that he never intended any such disorderly rout as had already begun to tumble out of the many courts and jurisdictions in his last years.”

Compulsory service, military and civil, augments Black’s plan to tackle unemployment and impress the world. “We need at least 100,000 more people in the armed forces,” he insists.

How on earth would Ottawa sell such an idea? By making it sexy, Black suggests: “The military could also be kitted out in far more attractive uniforms, by Canadian designers, and that would help instil greater pride in military service, which the distinguished military traditions of Canada certainly justify. One need only look at YouTube videos of Italian carabinieri, or crisply professional and stylishly clad contemporary Chinese female soldiers to see how easily the martial career, even if used chiefly for assisting in humanitarian disasters, could be made more attractive.”

A measure that would quickly expand the population would be the absorption of parts of the West Indies.—Conrad Black advocates Canadian colonialism

Of course Black’s “world-important nationality” would need many more people. One tactic of population expansion could be territorial expansion with “the absorption of parts of the West Indies.” As examples he mentions Bahamas, Barbados, Antigua and Bermuda, along with Haiti, “already a significant contributor to such increases as there are in the French-speaking population of Quebec.”

Black examines other topics including health care, culture and education, the latter problem sometimes evident in this document’s editorial standards. The book can be unintentionally entertaining for its curmudgeonly comments as well as its impractical boldness. But, even if it proposes to substitute one wretched dystopia with another, The Canadian Manifesto does offer a serious perspective on a country that’s lost its way, if it ever had one. This could be just the thing to read on a Canada Day trip to the States.

Read Mark Steyn’s comments on Conrad Black’s prosecution.

Saville Resources/Commerce Resources hit near-surface niobium high grades, with tantalum and phosphate in Quebec

June 3rd, 2019

This story has been updated and moved here.