Here's What's Happening In The Yukon
Gold mining in the Yukon has been on going for over 100 years. Ever since the Klondike Gold Rush, the territory has seen some kind of mining or exploration project. Even in years where when gold prices were down, placer operations would still be active during the short summer mining season. However, when it comes to large commerical mining operations there is only one large mining operation going on in the yukon and that mine is Capstone Mining's CS Minto Mine, which is a large copper operation that employs around 300 people and runs about 4000 tons of ore per day. This mine however has only a few more years of production before it's ore is depleted.
The exploration and development scene however paints a totally different picture as with all the news announcements that have been coming out over the past year. Some of the very large exploration projects have seen buyouts while others are seeing joint ventures with major companies. The first big news announcement came in the summer of 2016 when Kaminak announced that Goldcorp G
was buying them out. Goldcorp took over Kaminak's main asset is the Coffee Gold project south of Dawson City. Kaminak says the 10-year project would generate more than $2 billion in gross revenues, and employ close to 500 people. Goldcorp acquired all the outstanding shares of Kaminak for about $520 million.
In late 2016 news came out stating that Agnico Eagle Mines had purchased nearly 20 per cent of the shares of G4G Capital Corp. which is White Gold Corp. WGO for $14.5 million. This White Gold project is one of Shawn Ryans projects located outside of Dawson City.
In early spring of 2017 Atac Resources ATC made an announcement that Barrick Gold can acquire an interest in the central portion of Atac's Rackla Gold Property Orion Project and make an $8.3 million investment in Atac. Under the terms of the property earn-in agreement Barrick can acquire up to a 70% interest in the Orion Project. The transactions consist of a potential total investment by Barrick of approximately $63.3 million, which includes a private placement of $8.3 million and a two staged, $55 million exploration earn-in option to acquire up to 70% of the Orion Project. Just last week a Yukon Environmental division, YESAB granted the company to pursue with an 80 KM road to this property. This property is located north east of Mayo.
In March of 2017, junior miner Goldstike Resources GSR made news when it stated that it had entered into a strategic alliance with Newmont Mining Corporation. Newmont agreed to purchase 12,705,715 units of Goldstrike by way of non-brokered private placement at the price of C$0.4742 per unit, for an aggregate cost of US$4,500,000 and pursuant to which Goldstrike has agreed to grant to Newmont the right to earn a 51% interest in Goldstrike's Plateau project.
Now of course here are other notable projects on the go in the Yukon that haven't been joint ventured as of yet. One in particular is Victoria Gold's VIT Dublin Gultch project norther east of Mayo. This project hosts the Eagle gold deposit, the Wolf tungsten deposit and a 13 km-long belt of Au and Ag mineralization known as the Potato Hills Trend. They have also identified new gold and silver targets along this same trend. The Eagle Gold project willend up being the largest goldmine in Yukon history. The project will employ 350-400 people and will be a significant economic contributor to Yukon.
To the west of the territory, there is still another large project that is going through various approval and environment stages. This is the Western Coppers WRN
Casino project. This could very well become on the largest copper mines on the planet. Western Copper owns this deposit 100% and it's a huge deposit. 965 Million Tonnes mill ore + 157 Million tonnes heap leach (Proven + Probable) 4.5 Billion lbs Copper 8.9 Million oz Gold.
Another project that deserves a close look is Golden Predator Mining GPY. This junior has the 3 Aces project that is a high-grade gold project, discovered in 2009, located in southeast Yukon. In a 2016 field program focused on gold-in-soil anomalies the company has identified more than 25 new vein discoveries with assays in excess of 10 g/t gold. The company also has the Brewery Creek mine which has a mine life of 9 years with seasonal mining and crushing scheduled for 230 days per year at 7,500 tonnes per day and year round leaching. The Brewery Creek mine is located close to Dawson City.
Rockhaven Resources RK is another small junior that has a project on the go. The company is proving up it's Klasa Gold Silver Deposit in central Yukon. This project is 100% owned and has 1.36 million ounces of gold at 4.48 g/t and 26 million ounces of silver at 89 g/t in the inferred mineral resource category and this deposit is right close to the old Mount Nansen mine. The Mount Nansen Mine was one of the richest gold and silver deposits in the Yukon grading
446,549 tonnes @ 17g/t Au equivalent.
So for anyone who is interested in investing in a Yukon plays, the list of juniors above is just a short list of those companies that are in the news and will most likely be in the news for a few more years. Of course one has to remember that the Yukon is a big area and you never know what will be found this year.
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