Monday 23rd April 2018

Resource Clips


Posts tagged ‘nwt’

Gary Vivian of the NWT and Nunavut Chamber of Mines comments on a projected drop in the territories’ 2018 exploration spending

April 13th, 2018

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Canadian exploration spending projected to rise 6%; Manitoba contradicts its Fraser Institute ranking

March 14th, 2018

by Greg Klein | March 14, 2018

It’s hardly a boom time scenario but mineral exploration within Canada should see a healthy 6% spending increase this year, according to recent federal government figures. Info supplied by companies shows an estimated total of $2.238 billion planned for exploration and deposit appraisal this year, compared with $2.111 billion in 2017. The second annual increase in a row, it’s far less dramatic than last year’s 29.6% leap.

Canadian exploration spending projected to rise 6% Manitoba contradicts its Fraser Institute ranking

The Natural Resources Canada survey compares preliminary numbers for metals and non-metals from last year with projected budgets for 2018.

Together Quebec and Ontario account for more than half the spending, with la belle province getting 27.3% of last year’s total and 29.3% of this year’s, while Ontario got 24.9% and 26.5%.

Some runners-up were British Columbia (12.2% of Canada’s total in 2017 and 13% in 2018), Saskatchewan (9% and 7.4%) and Yukon (7.8% and 7.7%).

Proportionately Manitoba enjoyed the greatest increase, a 42% jump from $38.5 million to $54.7 million, in a performance at odds with the province’s most recent Fraser Institute ranking. Less spectacularly but still impressive, the figures show Quebec climbing 13.9% from $576.5 million to $656.7 million. British Columbia gets a 12.9% increase from $257.7 million to $290.9 million, and Ontario 12.7% from $526.2 million to $593 million.

Some disappointments include Saskatchewan, falling 13% from $189.9 million to $165.1 million. Nunavut plunged 34.6% from $169.3 million to $110.7 million.

Nunavut has to address its land access issues. In the NWT, work on the proposed Mineral Resources Act and other legislation must be to improve the investment climate. Settling long-outstanding land claims and reducing the over 30% of lands off limits to development would also help, as would proactive marketing by indigenous governments.—Gary Vivian, president, NWT and
Nunavut Chamber of Mines

Addressing the territory’s performance along with its neighbour’s 10% drop, Northwest Territories and Nunavut Chamber of Mines president Gary Vivian said, “Nunavut has to address its land access issues. In the NWT, work on the proposed Mineral Resources Act and other legislation must be to improve the investment climate. Settling long-outstanding land claims and reducing the over 30% of lands off limits to development would also help, as would proactive marketing by indigenous governments.”

Combining figures for mine complex development with exploration and deposit appraisal, this year’s projected country-wide total rises 8.9% to $14.9 billion, the highest number in the four years of data released in this survey.

Commodities getting the most money are precious metals, although at a nearly 1.5% decrease to $1.35 billion this year from $1.37 billion last year. A more drastic drop was uranium, down 23.4% to $103.7 million. Base metals saw a 38.4% surge to $406.9 million. Coal’s projected for a 31.1% boost to $70.8 million.

Exploration and deposit appraisal expenses considered for the survey include field work, engineering, economics, feasibility studies, the environment, land access and associated general expenses. Natural Resources Canada did not consider work for extensions of known reserves.

Recent studies from PricewaterhouseCoopers showed a marked improvement in junior mining company finances and a relatively stable, if cautious, ambience for more senior Canadian companies.

Covering a different period with different methodology than Natural Resources Canada, a study by EY, the B.C. government and the Association for Mineral Exploration calculated a 20% increase in B.C. exploration spending from 2016 to 2017.

See the Natural Resources Canada survey here.

92 Resources finds additional potential on its Northwest Territories lithium project

March 2nd, 2018

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Finnish diamond exploration reveals new kimberlite for Arctic Star

February 20th, 2018

by Greg Klein | February 20, 2018

As work continues on the northern Finland property, Arctic Star Exploration TSXV:ADD announced a new kimberlite discovery from its Timantti diamond project on February 20. Covered only by very thin glacial overburden, the find results from four one-metre-deep pits containing kimberlite. The company has christened the body Grey Wolf, distinguishing it from the property’s other Wolf kimberlites. A rig has already been mobilized to the discovery, while a 150-kilogram sample undergoes assays to test for diamonds and kimberlite indicator minerals, and to assess mineral chemistry.

Finnish diamond exploration reveals new kimberlite for Arctic Star

The news follows an announcement earlier this month that historic drill core confirmed the presence of a new Timantti kimberlite 230 metres west of the project’s diamondiferous Black Wolf kimberlite.

Part of an ambitious winter campaign that began in November, ongoing EM and gravity surveys have identified multiple targets for excavation or drilling. Optimism has been bolstered by “the expression of diamond-favourable indicator minerals in the region, which the Wolf kimberlites cannot explain,” the company stated.

In addition to the Finnish flagship, Arctic Star also holds diamond interests in Nunavut and the Northwest Territories’ Lac de Gras region. The company’s Cap property in British Columbia, meanwhile, hosts an exceptionally rare carbonatite-syenite complex that offers potential for several commodities. Results from sampling and one drill hole released in September showed “highly anomalous” niobium, rare earths and phosphate grades.

The company closed oversubscribed private placements totalling $1.69 million in November.

Read an interview with Arctic Star chairperson Patrick Power.

Earn-in brings Far Resources into 92 Resources’ NWT lithium project

January 23rd, 2018

by Greg Klein | January 23, 2018

High-grade sampling and positive Phase I metallurgy have drawn tangible interest to a Northwest Territories hard rock lithium property. In a deal announced January 23, Far Resources CSE:FAT may earn up to 90% of 92 Resources’ (TSXV:NTY) Hidden Lake project 40 kilometres east of Yellowknife. The full 90% would cost Far $50,000, $1.45 million in shares and $2.3 million in spending. 92 would get the cash and $500,000 of the shares on closing, while Far would put $500,000 into the project during the first year to earn an initial 60%. Far would act as project operator.

Earn-in brings Far Resources into 92 Resources’ NWT lithium project

Grab and channel samples from outcropping
pegmatite reveal Hidden Lake’s high lithium grades.

92 stated it would “benefit from bringing in a financially and technically strong partner to further develop the project and, in the process, will become a substantial shareholder of Far Resources with the ability to share in the project’s success.”

With seven known pegmatites, the 1,849-hectare Hidden Lake property has shown grab sample grades up to 1.86% Li2O. Channel sample results include 1.58% Li2O over 8.78 metres, 2.57% Li2O over 0.75 metres and 233 ppm Ta2O5 over 1 metre.

Phase I metallurgy conducted for 92 used conventional methods to produce a high-grade concentrate of 6% to 6.5% Li2O, with recovery rates between 80% and 85%.

The earn-in leaves 92 free to pursue other projects and acquisitions. Its current portfolio includes the Golden frac sand project in eastern British Columbia, adjacent to Northern Silica’s Moberly silica operation, as well as three recently acquired lithium properties in Quebec. A brief site visit to one of them scored a 7.32% Li2O grab sample.

92 closed an oversubscribed private placement of $1.14 million earlier this month.

Read Isabel Belger’s interview with 92 Resources CEO Adrian Lamoureux.

Lithium-tantalum sampling, new pegmatite discovery position 92 Resources for NWT drill program

January 12th, 2018

by Greg Klein | January 12, 2018

From pilot plant to the field, 92 Resources TSXV:NTY heralded progress on a number of fronts this week. Two days after reporting metallurgical advances for its Hidden Lake lithium project, the company announced high-grade lithium assays, significant tantalum recoveries and the discovery of a seventh pegmatite. The latest news comes from a recently completed eight-day program on the highway-accessible property 40 kilometres east of Yellowknife.

Lithium-tantalum sampling, new pegmatite discovery position 92 Resources for NWT drill program

Last year’s field work added another known pegmatite, as well as
tantalum potential, to 92 Resources’ Hidden Lake lithium project.

Work included channel sampling on two pegmatites discovered in late 2016, HL6 and HL8, near four other known pegmatites on the property. Eight samples from HL6 surpassed 1% Li2O, with values ranging from 1.05% to 2.57%, the latter standing out as the highest 2017 sample grade. Widths extended from 0.75 metres to one metre.

HL8 compensated for lower lithium numbers with some intriguing tantalum results. Of eight samples reported, Li2O values ranged from 0.12% to 0.74%, with Ta2O5 ranging from 114 ppm to 233 ppm. Seven widths came in between 0.74 and 1.33 metres, while a grade of 162 ppm Ta2O5 extended across 5.1 metres.

“Spodumene-bearing pegmatites are often zoned with distinct zones of lithium and tantalum, as well as zones which overlap,” the company explained. “The discovery of tantalum zones in the area is encouraging and bolsters the project’s potential for tantalum, as well as for coupled zones of lithium and tantalum, to be discovered elsewhere on the property.”

Another encouraging sign is a newly discovered pegmatite, bringing Hidden Lake’s known total to seven. An initial sample from HL13 returned 0.48% Li2O.

92 Resources hopes to return early this year, this time with a rig, to begin building a maiden resource.

Earlier this week the company announced another stage of metallurgical studies suggesting Hidden Lake’s pegmatite can produce high-grade concentrate through conventional processing techniques.

Additionally the company holds three lithium properties in Quebec, where sampling from one project brought assays up to 7.32% Li2O and 90 ppm Ta2O5. 92 Resources also plans a 43-101 technical report for its Golden frac sand project in eastern British Columbia.

92 Resources closed a private placement of $1.14 million the previous week and will further fund Hidden Lake with a $140,000 grant from the NWT Mining Incentive Program.

Read Isabel Belger’s interview with 92 Resources CEO Adrian Lamoureux.

Lithium metallurgy produces high-grade concentrate for 92 Resources’ NWT project

January 10th, 2018

by Greg Klein | January 10, 2018

Showing the advantages of coarse-grained pegmatite, further metallurgical tests on hardrock lithium brought impressive results for 92 Resources’ TSXV:NTY Hidden Lake project in the Northwest Territories. The company processed about 400 kilograms of pegmatite collected last year, putting it through a dense media separation mini-pilot plant. The result brought over 40 kilos of spodumene concentrate averaging a high-grade 6.11% Li2O.

Following last month’s results from heavy liquid separation tests, 92 Resources considers the latest work both highly encouraging and in line with expectations. “The test work continues to support that a final overall concentrate grade of 6% to 6.5% Li2O at high recovery (80% to 85%) is achievable using low-cost and conventional processing techniques,” the company stated.

92 Resources now sees two possible approaches for lithium recovery. The first would use flotation only, which produced the successful results released in December. The second would aim for similar results through a combination of flotation and dense media separation. The dual approach offers lower costs, greater control, shorter start-up time and less risk.

Lithium metallurgy produces high-grade 6.11% concentrate for 92 Resources’ NWT project

This graphic illustrates the Hidden Lake flowsheet’s dual approach, in which +0.85 mm material undergoes dense media separation to produce concentrate, tailings and middlings. The middlings then combine with the -0.85 mm material to undergo flotation, producing more concentrate and tailings.

Still to come from the test work are tantalum assays, which will be studied for better recovery. The road-accessible 1,849-hectare property sits 40 kilometres east of Yellowknife.

Apart from the Hidden Lake flagship, 92 Resources picked up three hardrock lithium projects in Quebec’s James Bay region last September. Surface samples from the Corvette property showed results up to 7.32% Li2O, along with anomalous tantalum of 90 ppm Ta2O5.

The company also has a 43-101 technical report planned for its Golden frac sand project in eastern British Columbia.

Last week 92 Resources closed a private placement of $1.14 million.

Read Isabel Belger’s interview with 92 Resources CEO Adrian Lamoureux.

Adrian Lamoureux of 92 Resources discusses hardrock lithium metallurgical tests for the Northwest Territories’ Hidden Lake project

January 2nd, 2018

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Metallurgy brings high grades, impressive recovery for 92 Resources’ NWT lithium project

December 5th, 2017

by Greg Klein | December 5, 2017

Further metallurgical tests for 92 Resources’ (TSXV:NTY) Hidden Lake hardrock lithium project brought “very encouraging results,” the company reported December 5. Heavy liquid separation and bench scale flotation work produced a concentrate with high grades of 6.2% to 6.5% Li2O, with recovery ranging from an impressive 82% to 85% for pegmatite from the Northwest Territories property.

Metallurgy brings high grades, impressive recovery for 92 Resources’ NWT lithium project

The highway-accessible Hidden Lake property
sits about 40 kilometres east of Yellowknife.

The tests were conducted on material screened above 0.85 mm, but indicated the rest of the material would “respond well to flotation, and that a high overall recovery with a combined concentrate grade above 6% Li2O is achievable” using dense media separation and flotation.

“The metallurgical program has advanced significantly further than we had initially anticipated at this stage,” said president/CEO Adrian Lamoureux. “We have now demonstrated the spodumene has low iron, is coarse-grained and well-liberated, and responds strongly to cost-effective beneficiation techniques to produce high-grade concentrate at high recoveries.”

Tests reported in September showed concentrates had lithium extraction rates up to 97%, he added. “We look forward to completing the remaining Phase II [dense media separation] work and evaluating the next steps in flowsheet development.”

92 Resources filed a 43-101 technical report on the project in January.

The company also holds the Pontax lithium property in Quebec’s James Bay region and the Golden frac sand project in eastern British Columbia.

Read Isabel Belger’s interview with 92 Resources CEO Adrian Lamoureux.

Exploration begins at Arctic Star’s Finnish diamond project

November 23rd, 2017

Update: On November 24 Arctic Star announced the closing of a final tranche of an oversubscribed private placement totalling $1.7 million.

by Greg Klein | November 23, 2017

Having closed the acquisition a week earlier, Arctic Star Exploration TSXV:ADD now has a crew busy at its Timantti diamond project in Finland. Located among favourable regional infrastructure in the Fennoscandian Shield, which hosts the major Russian diamond mines Lomonosov and Grib, the property has geophysics, sampling and drilling planned.

Exploration begins at Arctic Star’s Finnish diamond project

Arctic Star VP of exploration Buddy Doyle
gathers kimberlite float samples at Timantti.

Timantti’s White Wolf kimberlite has already revealed 169 microdiamonds, 111 from 52.7 metres of historically extracted core and another 58 from an 18.9-kilogram sample. The current program will include ground magnetic, gravity and electromagnetic surveys over the Black and White kimberlites to define their sizes and identify other drill-worthy anomalies.

Additionally, 20 backhoe till samples will be taken to search for diamond indicator minerals. Drilling will consist of about eight holes totalling 1,500 metres, with a 500-kilogram core sample from each of the two kimberlites. Results of the program will determine whether to proceed with bulk sampling.

Work will focus on a 243-hectare area covered by an exploration permit. The project also includes a 95,700-hectare exploration reservation.

Among other projects, Arctic Star holds the Cap property in east-central British Columbia, host to an extremely rare carbonatite-syenite complex that’s potentially associated with several commodities. In September the company reported “highly anomalous” assays for niobium, rare earths and phosphate from sampling and a drill hole.

In the Northwest Territories’ diamondiferous Lac de Gras region, Arctic Star also holds a 40% stake in the Diagras JV, where majority partner Margaret Lake Diamonds TSXV:DIA carried out geophysics last summer.

This week Arctic Star appointed Scott Eldridge as president/CEO. From 2008 to 2016 Eldridge led Euroscandic International Group, providing investment banking and advisory services to resource companies. He has been responsible for raising over $500 million in equity and debt financing for mining projects internationally.

Earlier this month the company closed a private placement first tranche of $965,000.

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