Wednesday 12th August 2020

Resource Clips


Posts tagged ‘molybdenum’

Taranis Resources gets B.C. Ombudsperson intervention in regulatory dispute; B.C. plans Mines Act revisions

July 2nd, 2020

by Greg Klein | July 2, 2020

In what might be a unique approach to regulatory uncertainty, a would-be British Columbia miner says it has “helped set the trend towards more transparent, accessible and fair proceedings for bulk-sampling projects.” Exasperated by its dealings with the provincial mines ministry, Taranis Resources TSXV:TRO went to the province’s Ombudsperson. As a result, the company and the ministry have agreed to procedures and a timeline for the company’s permitting application.

Taranis Resources gets B.C. Ombudsperson intervention in regulatory dispute; B.C. plans Mines Act revisions

Taranis has sunk about 250 holes at Thor
since acquiring the Kootenay property in 2006.
(Photo: Taranis Resources)

Taranis proposes to conduct a 10,000-tonne sample as part of the feasibility studies for the Thor project in southeastern B.C. The 3,172-hectare property hosts five historic mines and a potential silver-gold-lead-zinc-copper open pit.

Last March the company castigated B.C.’s Ministry of Energy, Mines and Petroleum Resources, charging that a supposedly 60-day review had dragged on since September 2019, involving 28 government reviewers, “multiple catastrophic deficiencies and concerns,” and “moving goalposts.”

But on July 2 CEO John Gardiner thanked the ministry and the Ombudsperson “for formulating a number of positive measures that pertain not only to Taranis, but to B.C.’s exploration and mining sector as a whole.”

The resolution calls for draft engineering drawings of a water management plan and tailings storage facility to be completed with ministry collaboration within three to four weeks before being sent to the province’s Mine Development Review Committee for comments.

“Taranis expects the permit recommendation to be sent from EMPR to the statutory decision maker this year,” the company stated. “EMPR will try to complete this work by August 31, 2020, in order to mitigate further delay.”

We wish to thank the Ombudsperson’s office and EMPR … for formulating a number of positive measures that pertain not only to Taranis, but to B.C.’s exploration and mining sector as a whole.—John Gardiner,
Taranis Resources CEO

Taranis also stated that the ministry committed to completing and posting online a draft policy and information bulletin entitled Permitting Custom and Pilot Mill Operations, and a fact sheet for bulk sampling.

The province has been blamed for “moving the goalposts” on another mining proposal, and in this case the criticism came from a Supreme Court judge. But although the court ordered the government in 2013 to reconsider Pacific Booker Minerals’ (TSXV:BKM) application to build the Morrison copper-gold-molybdenum mine, the company still faces regulatory uncertainty. Late last month independent MLA and former Green leader Andrew Weaver accused the government of imposing conditions too vague for compliance. “For Pacific Booker, this order has been tantamount to a rejection of its project without the ministry formally saying no,” he charged.

Also last month B.C.’s New Democrat government announced proposed updates to the province’s Mines Act. Among the changes would be the separation of health and safety enforcement from responsibility for permitting decisions.

A newly created chief auditor’s staff would inspect mines and issue orders to rectify dangers to people, property or the environment.

Mine inspectors would gain stronger powers to stop work until remedial environmental protection takes place, and broader authority to conduct inspections. Inspections could include “indigenous accompaniment.”

Does B.C. use regulatory uncertainty as a political ploy? Former Green leader cites Pacific Booker

June 25th, 2020

by Greg Klein | June 25, 2020

Regulatory limbo might have been deliberately imposed on a British Columbia mining proponent for political reasons. That’s a concern raised by MLA Andrew Weaver as he once again questioned the provincial government’s handling of Pacific Booker Minerals’ (TSXV:BKM) proposed Morrison mine.

Does B.C. use regulatory uncertainty as a political ploy? Former Green leader cites Pacific Booker

Independent MLA Andrew Weaver

New environmental regulations introduced in 2018 don’t apply to the project, the New Democrat government states. But the former rules have been applied without clarity, Weaver argued. Addressing the legislature on June 24 the former Green leader, now an independent MLA, charged the government with stalling the project’s environmental assessment by confusing the process.

Acknowledging there’s “no smoking gun,” Weaver’s blog cited “suspicious circumstantial evidence” that the former BC Liberal government rejected the mine to gain native support for LNG projects. That government turned down the copper-gold-molybdenum proposal in 2012 although the province’s Environmental Assessment Office found that, with successful mitigation measures, the mine is “not likely to have significant adverse effects.”

Weaver’s post continued, “This is the same government that went to Ottawa in 2014 to lobby the federal government to approve [Taseko Mines’ (TSX:TKO) New Prosperity proposal], a project that had received two negative assessments by federal review panels.”

At the time mines minister Bill Bennett refused to explain the apparent contradiction.

Pacific Booker lawyered up in 2012, resulting in a 2013 B.C. Supreme Court decision ordering the province to reconsider Morrison. As Weaver noted, “Justice [Kenneth] Affleck would describe the environmental assessment process as a ‘sham’ and accuse the province of repeatedly ‘moving the goalposts’ during the assessment process.”

But in 2015 the Liberals ordered the project to undergo further assessment. Weaver’s blog pointed out the Lake Babine Nation’s uncertain support for LNG projects including the Prince Rupert Gas Transmission line. Referring to the pipeline in 2016, Weaver wrote, “Chief Wilf Adam was quoted in Business in Vancouver as saying: ‘If they overturn or change their decision in favour of PBM to start this mine, then all gloves are off—and any agreement we made with the province.”

For Pacific Booker, this order has been tantamount to a rejection of its project without the ministry formally saying no.—MLA Andrew Weaver

The NDP narrowly won the 2017 election, governing with the support of three Green MLAs. A new Environmental Assessment Act passed in 2018, but doesn’t apply to Morrison. The Liberal government’s section 17 order imposed in 2015 remains in force. But “Pacific Booker has been unable to clarify the precise nature of what is actually required in the section 17 order,” Weaver told the legislature. “For Pacific Booker, this order has been tantamount to a rejection of its project without the ministry formally saying no.”

Weaver asked environment minister George Heyman to amend and clarify the 2015 requirements. Weaver added that it’s impossible for the company to move through the regulatory process “when that process has not been defined.”

Heyman denied Weaver’s charges, saying the requirements have been specific and his staff “are working to help answer any questions that the proponent has with respect to the information required.”

Weaver quit the Greens in January after announcing his intention to leave politics for family reasons. A mathematician, climate scientist and University of Victoria professor who shared in a 2007 Nobel Prize, he accused his former party colleagues last month of preferring re-election to upholding Green principles.

Last March Taranis Resources TSXV:TRO lambasted B.C.’s current environmental review process, saying the Thor polymetallic project was stalled as the company dealt with “28 technical reviewers from four sectors” over a 17-month period.

Taranis directors argued that “it is easy to conclude that the current B.C. government is intent on eliminating the mining industry in the province by instituting a barrage of vague and ever-changing requirements for permitting and operation, with a complement of inexperienced and unqualified civil servants in positions of authority whose obvious intention is nothing less than making sure nothing gets done.”

July 2, 2020, update: Taranis Resources gets B.C. Ombudsperson intervention in regulatory dispute; B.C. plans Mines Act revisions.

B.C. MLA and former Green leader Andrew Weaver questions the province’s rejection of Pacific Booker Minerals’ proposed mine

April 20th, 2020

…Read more

Taranis Resources alleges “catastrophic deficiencies and concerns” with B.C. mines ministry

March 16th, 2020

by Greg Klein | March 16, 2020

Stating it’s “in a unique position to experience every aspect of the permitting process in B.C.,” an explorer levelled strong complaints about how a bulk sampling application has been handled. Taranis Resources TSXV:TRO, operator of the Thor polymetallic project in southeastern British Columbia, made the charges in a March 16 news release following a conference call with ministry officials.

Taranis Resources alleges catastrophic deficiencies and concerns with B.C. mines ministry

Taranis received its most recent drill permit last January, after
filing an application in March 2019. (Photo: Taranis Resources)

In October 2018 the company applied for permission to conduct a 10,000-kilogram sample. The program would supply material for metallurgical tests as part of Thor’s PEA studies and also remove environmentally harmful stockpiles resulting from historic mining, Taranis states. Since then, the company maintains, it has dealt with “28 technical reviewers from four sectors” over a 17-month period.

Responding in 2018, the government applied requirements previously used only for large-scale commercial mining but which were to be adapted to the bulk mining proposal, the company states. Taranis says it agreed, but a technical review that should have taken 60 days has dragged on since September 2019.

Input from 28 technical reviewers led to modifications of site layouts, water treatment and other aspects of the original proposal, Taranis avers, but the process also featured “multiple catastrophic deficiencies and concerns,” as well as “moving goalposts.”

The latter consisted of a demand that engineering drawings be stamped “final” instead of “draft,” undermining “the spirit of technical review.” The company called for assurance that “‘final’ site-engineering plans aren’t modified multiple times based on whims of improperly managed technical reviewers.”

During a March 12 conference call between the company and ministry officials, Taranis states, deputy chief mines inspector Lowell Constable attributed Mount Polley to the decision to apply large-scale commercial mining standards to the bulk sample application.

In a 2014 tailings dam failure at Imperial Metals’ (TSX:III) Mount Polley copper-gold operation, some eight million cubic metres of waste poured into the waterways of B.C.’s Cariboo region.

According to Taranis, Constable said that “there are no minor tailings facilities anymore in the code. So big or small, I’m not going to lie, there are a lot of pieces still moving around in the tailings management code.”

The company argues that “it is unreasonable that full-scale commercial mine permitting scope and associated costs be applied carte blanche to any and all test production scenarios.”

While the company believed conditional permitting would be a “cornerstone” of its application, Taranis quoted mines ministry executive regional director Heather Cullen as saying, “We are getting away from issuing conditional permits—conditional permits are not the way we are going.…”

It is easy to conclude that the current B.C. government is intent on eliminating the mining industry in the province by instituting a barrage of vague and ever-changing requirements for permitting and operation…—Taranis Resources
board of directors

Taranis maintains that the conference call demonstrated that “there are no clear, concise, reasonable permitting allowances for exploration bulk sampling in B.C.—an essential exploration tool to the mining business. Up until 2018, there was a well-defined permitting process for exploration bulk sampling.”

The company’s board of directors states: “Based on our experience, it is easy to conclude that the current B.C. government is intent on eliminating the mining industry in the province by instituting a barrage of vague and ever-changing requirements for permitting and operation, with a complement of inexperienced and unqualified civil servants in positions of authority whose obvious intention is nothing less than making sure nothing gets done.”

A week before the conference call, independent MLA and former B.C. Green leader Andrew Weaver criticized the New Democratic government for prolonging “regulatory inconsistencies” regarding Pacific Booker Minerals’ (TSXV:BKM) proposed Morrison copper-gold-molybdenum mine. After the initial rejection by B.C.’s previous Liberal government in 2012, the provincial Supreme Court found the decision “failed to comport with the requirements of procedural fairness.” Ordered to reassess the proposal, the NDP government “once again rejected the project in order to undergo further assessment,” Weaver argued. “However, in its order, the government appeared to issue unclear directions that substantially delay the process.”

Thor’s 2013 maiden resource gave the project open pit and underground resources totalling:

  • indicated: 640,000 tonnes averaging 0.88 g/t gold, 187 g/t silver, 0.14% copper, 2.51% lead and 3.51% zinc

  • inferred: 424,000 tonnes averaging 0.98 g/t gold, 176 g/t silver, 0.14% copper, 2.26% lead and 3.2% zinc

The property includes five zones that began mining in the late 19th and early 20th centuries.

July 2, 2020, update: Taranis Resources gets B.C. Ombudsperson intervention in regulatory dispute; B.C. plans Mines Act revisions.

Was Pacific Booker’s proposed mine sacrificed for an LNG project? Former B.C. Green leader raises questions

March 9th, 2020

by Greg Klein | March 9, 2020

While Greens might seem unlikely defenders of mining, an independent MLA who served as British Columbia party leader has taken up the case of Pacific Booker Minerals TSXV:BKM. In doing so, Andrew Weaver voiced concerns that the previous BC Liberal government, supposedly a supporter of resource development, may have pitted one project against another. He also criticized the current New Democratic Party government for stalling on the company’s latest environmental review.

Was Pacific Booker’s proposed mine sacrificed for LNG project? Former B.C. Green leader raises questions

Considerations more political than environmental
might have caused a B.C. mine’s rejection,
said a climate scientist/MLA.

In legislature on March 5, Weaver criticized the NDP for “regulatory inconsistencies” involving Pacific Booker’s Morrison project. The proposed copper-gold-molybdenum mine first met provincial rejection in 2012 despite an Environmental Assessment Office report which found that, with successful mitigation measures, the mine is “not likely to have significant adverse effects.”

Weaver stated, “There’s some suspicion that the decision around the Morrison mine had less to do with environmental concerns and more to do with political calculation.”

A staunch LNG opponent, Weaver told the legislature that “certain natural gas projects were located in areas close to the Morrison mine. Comments from groups engaged in the Pacific Booker project have indicated that the province was facing significant pressure to avoid reopening discussions around the Morrison mine in order to obtain the support necessary for the Prince Rupert gas transmission line.”

In 2013 then-BC Liberal leader Christy Clark made LNG the focal point of her re-election campaign, vowing the new industry would build three plants by 2020, create 100,000 jobs and provide $100 billion in government revenue, erasing B.C.’s debt. Her party won the election but no LNG facilities were built.

The 900-kilometre Prince Rupert gas transmission line would have connected B.C.’s oil-rich Peace district with the proposed Pacific Northwest LNG plant on the coast. That $11.4-billion project was shelved in July 2017 after the lead investor, Malaysia’s state-owned PETRONAS, backed out.

Morrison’s 2012 rejection “had serious repercussions for Pacific Booker,” Weaver pointed out. “Their share price plummeted from $14.95 to $4.95 in one day and many investors lost their life savings. What’s more is that the ministry failed to inform Pacific Booker of its intention to issue an adverse recommendation and did not provide the company with an opportunity to respond to it.”

In December 2013 B.C.’s Supreme Court ordered the province to reconsider the mine, ruling that the cabinet’s rejection “failed to comport with the requirements of procedural fairness.”

But when the BC Liberal government ordered further assessment of the proposal in July 2015, Weaver charged, the province failed to provide clear directions, further stalling the project into the NDP’s administration, which started in June 2017.

Mines minister Bruce Ralston replied that “the EAO continues to work with the company on this, and I’m advised that the latest submission was received by the EAO in December 2019.”

Weaver’s blog stated he was “not particularly impressed with the minister’s response to my questions. I intend to explore this issue further in the coming weeks.”

In a March 9 statement on “recent volatility in our market activity,” Pacific Booker director John Plourde expressed the company’s “appreciation to Dr. Weaver for bringing this matter to the attention of the House and Mr. Ralston, and our hope that his intent to explore this further in the coming weeks brings a resolution to the issue.”

Greens hold the balance of power in B.C.’s minority government. Weaver, a University of Victoria climate scientist, left the party in January for family reasons and announced his intention to retire from politics.

Open and shut cases: North

December 18th, 2019

How do the territories’ mine openings compare with closures for 2019 and 2020?

by Greg Klein

This is Part 1 of a four-part series.

  • See Part 2, covering the western provinces.
  • See Part 3, covering Ontario.
  • See Part 4, covering Quebec and Atlantic Canada.
  •  

    One indication of the state of mining involves the vital statistics of births and deaths—the new mines that arrived and the old mines that left. To that end we survey each Canadian region for some of the major gains and losses that occurred over the past year or are expected for the next. The first of this multi-part series looks at the country’s three northern territories, with each distinct jurisdiction contributing to a study in contrasts.

    Yukon

    Yukon without mining? That might surprise people better acquainted with the territory’s past than its present. But such was the case for nearly a year, following the suspension of Minto, Yukon’s sole remaining hardrock mine up to 2018. Nevertheless operations returned to this fabled mining region in September as Victoria Gold TSXV:VIT celebrated Eagle’s debut. By late November the company reported 10,400 ounces of gold and 1,600 ounces of silver from the heap leach operation.

    How do Canada’s mine openings compare with closures in 2019 and 2020?

    Victoria Gold finished construction a month early on
    Yukon’s largest-ever gold mine. (Photo: Victoria Gold)

    Less than two weeks later the company unveiled an updated feasibility study raising the annual production target for the territory’s largest-ever gold mine from 200,000 to 220,000 gold ounces, based on a 20% increase in proven and probable reserves for the Eagle and Olive deposits. Victoria expects to reach commercial production in Q2 2020.

    By mid-October Minto came back to life under LSE-listed Pembridge Resources. Capstone Mining TSX:CS had placed the underground mine on care and maintenance in 2018, after about 11 years of continuous operation, as acquisition negotiations with Pembridge stalled. But the companies sealed the deal last June. Within weeks of restart Pembridge reported 1,734 dry metric tonnes of copper-gold-silver concentrate. Proven and probable reserves totalling 40,000 tonnes copper, 420,000 ounces silver and 45,000 ounces gold give Minto an estimated four more years of production.

    Among the most advanced Yukon projects is BMC Minerals’ Kudz Ze Kayah, a zinc deposit with copper, lead, gold and silver. The privately owned UK-based company reached feasibility in June and hopes to begin at least nine years of mining in 2021.

    Environmental/socio-economic reviews continue into Newmont Goldcorp’s (TSX:NGT) Coffee gold project and Western Copper and Gold’s (TSX:WRN) Casino polymetallic project. Should Casino make it into operation, the copper-gold-silver-molybdenum operation would be by far the territory’s largest mine.

    Read more about Yukon mining.

    Northwest Territories

    Confidence in the territorial economy fell last October when Moody’s downgraded a $550-million bond issued by Dominion Diamond. “There’s no plan in place to extend the mine life at a time when the debt is coming closer and closer to coming due,” the credit ratings agency’s Jamie Koutsoukis told CBC. “We continue to see a contraction in the time they have to develop this mine plan.”

    Part of the Washington Group, Dominion holds a majority stake in Ekati and 40% of Diavik, where Rio Tinto NYSE:RIO holds the remaining 60%. Along with De Beers’/Mountain Province Diamonds’ (TSX:MPVD) Gahcho Kué, the three diamond operations comprise the territory’s largest private sector employer.

    How do Canada’s mine openings compare with closures in 2019 and 2020?

    Agnico Eagle once again laid claim to Arctic riches with the
    Amaruq satellite deposit, over 300 kilometres west of Hudson Bay.
    (Photo: Agnico Eagle)

    In an October presentation before the territory’s newly elected legislative assembly, the NWT and Nunavut Chamber of Mines urged the government to safeguard the economy by improving investor confidence in the mining industry.

    An election year in the NWT and Canada-wide, 2019 brought optimistic talk and initial funding for the NWT’s Slave Geological Province Corridor and Nunavut’s Grays Bay Road and Port, two transportation proposals that would offer enormous potential for mineral-rich regions in both territories.

    Nunavut

    “Whispers could be heard throughout the room as intervenors turned to their colleagues. Members of the audience turned their heads, looking for Baffinland’s reaction to what was unfolding. Baffinland officials sat stone-faced, sometimes crossing their arms and looking down at the table as [Nunavut Tunngavik Inc. president Aluki] Kotierk spelled out the motion.”

    That was the scene described by the Nunatsiaq News as the Nunavut Impact Review Board abruptly suspended hearings into Baffinland Iron Mines’ $900-million Phase II expansion plans for Mary River. The proposals, already accepted by Ottawa, include building a railway to replace a 100-kilometre road north to the company’s Milne Inlet port and doubling annual production to 12 million tonnes iron ore. The new railway proposal comes in addition to a previously approved but un-built 150-kilometre southern rail link to a harbour that had been planned for Steensby Inlet.

    The company maintains that expanded production and a northern rail line will be crucial to the existing operation’s viability. Responses at public hearings ranged from support to skepticism and outright opposition. Within weeks of the hearings’ suspension and a month ahead of a scheduled layoff, Baffinland let go 586 contractors who had been working on expansion preparations.

    How do Canada’s mine openings compare with closures in 2019 and 2020?

    About 290 kilometres southeast of Meadowbank, Agnico
    Eagle celebrated Meliadine’s first gold pour in February.
    (Photo: Agnico Eagle)

    Despite all that, operations continue at Mary River and Nunavut remains a bright spot in Canadian mining.

    That’s largely due to Agnico Eagle TSX:AEM, which brought two new operations to the territory. Meliadine began commercial production months ahead of schedule in mid-May, followed by Amaruq in late September.

    As a satellite deposit, Amaruq brings new life to the Meadowbank mine and mill complex 50 kilometres southeast. With the latter mine wrapping up its ninth and last year of operation, Amaruq’s open pit offers an estimated 2.5 million ounces up to 2025. Should hoped-for permitting come through in late 2020, a Phase II expansion could broaden the lifespan. Meanwhile drilling seeks to upgrade the project’s underground resource.

    Meliadine began with underground production but has an open pit scheduled to come online by 2023. Combined open pit and underground reserves of 3.75 million gold ounces give the operation a 14-year life.

    TMAC Resources’ (TSX:TMR) expansion plans moved forward in October as construction began on an underground portal to Madrid North, a fully permitted deposit that could enter production by late 2020. The new operation’s probable reserves of 2.17 million gold ounces far overshadow the company’s other three Hope Bay deposits, which total 3.59 million ounces proven and probable.

    By comparison, the current Doris operation hosts 479,000 ounces proven and probable. Hope Bay has updated resource/reserve and prefeas studies scheduled for Q1 2020.

    This is Part 1 of a four-part series.

  • See Part 2, covering the western provinces.
  • See Part 3, covering Ontario.
  • See Part 4, covering Quebec and Atlantic Canada.
  • Geoscience BC seeks to put “hidden” copper-gold resources into the public domain

    December 6th, 2019

    by Greg Klein | December 6, 2019

    Additional base and precious metals could be waiting for discovery in a region already hosting some of British Columbia’s largest mines. A new program by Geoscience BC plans a number of measures to search for potential deposits hidden beneath glacial till.

    Under scrutiny will be a 50,700-kilometre swath of Quesnel terrane between Centerra Gold’s (TSX:CG) Mount Milligan gold-copper mine to the northwest and, to the southeast, Taseko Mines’ (TSX:TKO) 75%-held Gibraltar copper-molybdenum operation and Imperial Metals’ (TSX:III) Mount Polley project, now on care and maintenance. Backed by $2.9 million in funding, the Central Interior Copper-Gold Research project begins with two programs. One will analyze new and existing till samples with satellite imagery to trace samples and geochemical anomalies to their source. Another program will use existing geophysical data to identify, map and model potential copper-gold deposits.

    Geoscience BC seeks to put “hidden” copper-gold resources into public domain

    Receding glaciers may have helped hide valuable resources.
    (Photo: Geoscience BC)

    Results are scheduled for 2021, when drilling is anticipated and additional related projects may take place. Data will be made public for the benefit of communities, governments and academia, as well as the mining sector.

    Consequently, support for the program came from communities as well as industry. At a December 5 open house North Central Local Government Association president Lara Beckett said, “The communities of the NCLGA benefit from the valuable public data on water, energy and minerals that these initiatives provide. NCLGA members have passed resolutions in support of the work of Geoscience BC and look forward to working together on future opportunities to strengthen communities throughout north-central British Columbia.”

    Association for Mineral Exploration president/CEO Kendra Johnston called the work “important to AME members because the data and information that they provide inspire new mineral exploration and attract new investment to British Columbia. We look forward to seeing the results from the first two projects, and to learning more about future phases.”

    Other recently announced Geoscience BC programs include Porphyry Vectoring Techniques in Advanced Argillic Altered Rocks, a study of three known porphyry copper-gold deposits in the province’s northwest and north-central regions.

    Earlier last month Geoscience BC published a report on mineral deposit types in the Toodoggone area of B.C.’s north-central region. Among several other projects, the non-profit group is also studying methods of extracting rare earth elements from B.C. coal deposits.

    Learn more about the Central Interior Copper-Gold Research project.

    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%.

    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%.

    92 Resources increases its Quebec lithium-polymetallic potential with expanded acquisition

    April 24th, 2019

    by Greg Klein | April 24, 2019

    An amended option with “no additional share, cash or work commitment” brings more land and greater prospects in northern Quebec’s James Bay region to 92 Resources TSXV:NTY. A 4,253-hectare increase to a previous 75% earn-in with Osisko Mining TSX:OSK now covers that company’s entire FCI property. Combined with 92’s adjacent and wholly owned Corvette project, the Corvette-FCI property now comprises three contiguous claim blocks in a 14,496-hectare parcel that stretches for over 25 kilometres along the Lac Guyer greenstone belt.

    92 Resources increases its Quebec lithium-polymetallic potential with expanded acquisition

    Past work at the newly acquired FCI West found 16 showings of base and precious metals along two parallel trends extending over 10 kilometres in length. Historic, non-43-101 assays from FCI West’s Golden Gap prospect included outcrop samples as high as 108.9 g/t gold, a 2003 drill interval of 10.5 g/t gold over seven metres and a channel sample of 14.5 g/t gold over two metres.

    FCI West’s Tyrone-T9 prospect includes an historic, non-43-101 channel sample of 1.15% copper over 2.1 metres. Despite high-grade lithium showings at Corvette, FCI West has never been evaluated for the energy metal, the company stated.

    Immediately south and west of 92’s new turf sits Azimut Exploration’s (TSXV:AZM) Pikwa property. Adjacently north of FCI West, Midland Exploration’s (TSXV:MD) 2018 field program on the Mythril project found outcrop and boulder samples grading 16.7% copper, 16.8 g/t gold and 3.04% molybdenum. 92 anticipates significant activity by multiple companies along the Lac Guyer greenstone belt this year “as the magnitude of the Mythril-style copper-gold mineralization unfolds.”

    Regional infrastructure includes a powerline and the all-season Trans-Taiga Road 10 kilometres north of Corvette-FCI.

    This year’s exploration program will follow evaluation of historic data, with work expected to wrap up in summer.

    The amended option with Osisko would give 92 the additional claims by satisfying terms of the 75% earn-in on FCI East. That deal calls for an initial million shares, another million shares and $250,000 of work in year one, another $800,000 in year two and a further $1.2 million in year three, while Osisko acts as project operator. At that point the companies would form a 50/50 JV. Another $2 million in expenditures from 92 would raise the company’s stake to 75%. With FCI West now incorporated into that agreement, “no additional share, cash or work commitment is required by the company,” 92 emphasized.

    The company retains a 100% interest in Corvette’s 172 claims.

    92’s Quebec portfolio also includes the Pontax, Eastman and Lac du Beryl properties. Lithium-tantalum 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. In the Northwest Territories, Far Resources CSE:FAT works towards a 90% earn-in on 92’s Hidden Lake lithium project.

    92 closed a private placement of $618,000 last December.

    Read more about 92 Resources here and here.