Canada Mining News

Diamonds North acquires property with high gold grades in multiple drill holes

Diamonds North Resources acquired 100% interest in the Esker gold property in Nunavut. The Esker claim covers several kilometres of gold bearing stratigraphy. Drill intercepts of gold mineralization are as high as 8.2 g/T gold over 13 metres, including 17.7 g/T gold over 5.7 metres; and, 2.4 g/T gold over 71 metres which includes several high grade zones (see table below). For a video presentation on this project visit our website www.diamondsnorth.com. "This low cost staking puts us into a project with wide zones of high grade gold mineralization and significant tonnage potential. As only a small portion of the zone has been tested, our objective is to drill along strike of the known mineralization along the host gabbro units to expand the gold-bearing mineralized zone," says Mark Kolebaba President and CEO of Diamonds North.

PwC: Iron ore represents 48% of Canadian metals M&A activity

Big4 reports in Canada, 39 metals deals have been announced in 2011, including five transactions valued at US$50m or more. Iron ore was the most targeted resource in Canada and globally last quarter, accounting for nearly half (48%) of all Canadian deals and almost 22% of all global transactions in Q1. According to a new PwC report, the value of Canadian metals deals more than doubled year-over-year and a heightened pace of mergers and acquisitions (M&A) activity is expected for the balance of 2011.

Subdued potash price not so bad, says industry exec

Canadian Business reported that potash is not getting to big a boost from rising crop prices. Wayne Brownlee, chief financial officer with Potash Corp. of Saskatchewan, made the comments at an industry conference on Wednesday: […]

Grande Cache Coal earns net income of $27.7 million during fiscal 2011

Grande Cache Coal announced its financial and operating results for the three and twelve months ended March 31, 2011. Net income for fiscal 2011 was $27.7 million ($0.28 per basic and diluted share) representing a 38% increase from $20.1 million ($0.21 per basic share and $0.20 per diluted share) in fiscal 2010. Fourth quarter net income was $5.1 million ($0.05 per basic and diluted share) compared to $1.4 million ($0.01 per basic and diluted share) in the same period last year.

Nanika Resources announces Northwest Territories gold program

Nanika Resources Inc. has announced that it will proceed with an exploration program on its 100 per cent owned Rivett Lake gold property in the Northwest Territories. A crew will be onsite within the next […]

Seymour Ventures announces launch of 2011 exploration program on the Mount Bisson and Xeno rare earth properties

Seymour Ventures' wholly owned subsidiary Rare Earth Industries Ltd. (REI) is pleased to announce that it has commenced the exploration work program on the Mt. Bisson and Xeno rare earth properties, located in the Omineca Mining Division, approximately 50 kilometers NW of Mackenzie in central BC. REI has the right to earn a 60% interest in the properties from Paget Minerals by spending $1,050,000 over three years to develop the property, including $350,000 in 2011. The initial discovery of rare earth element mineralization on the Mount Bisson property was made by Halleran in 1986 with total rare earth element (TREE) contents as high as 13.5 wt.% in grab samples from the Laura occurrence.

Star Uranium Corp. and United Uranium Corp. complete ground magnetic survey on Fort a La Corne diamond properties

United Uranium and Star Uranium announced that they have completed a ground magnetic survey on their Fort a la Corne diamond properties. The Claims are situated immediately adjacent to the eastern border of the Shore Gold Inc. Fort a la Corne project. The survey was completed by Apex Geoscience of Edmonton, Alberta, and included an analysis of the jointly held Fort a la Corne diamond properties in Saskatchewan.

PotashCorp adding 5 million tonnes of capacity

Canadian potash producers are ramping up production targets in anticipation of increasing demand for the mineral, as farmers buy more fertilizer to boost crop yields. On Wednesday Saskatchewan Potash Corp. said it will squeeze an additional 5 million metric tonnes of potash capacity from its existing mines, according to company CFO Wayne Brownlee, speaking at an investor conference in Toronto.

Canada Lithium Corp. granted construction permit for Québec Lithium Project

Canada Lithium Corp. (TSX: CLQ; OTCQX: CLQMF) announced Monday that it has received a construction permit from the Municipality of La Corne, Que., for construction of surface service infrastructure at its Québec Lithium Project. Image by Canada Lithium Corp.

Rambler signs exploration and development alliance with Maritime and Commander

Rambler Metals and Mining announced that it has entered into an alliance with Vancouver-based Maritime Resources and Commander Resources Corp. The Alliance will see the sharing of technical expertise for the exploration and development of two main properties in the Green Bay area of Newfoundland and Labrador; with projects in the advanced exploration stage.

Osisko officially inaugurates the Canadian Malartic Mine

Osisko Mining official inaugurated the Canadian Malartic gold mine, a large-scale open pit mine located in Malartic, Abitibi. Canadian Malartic is Osisko's first mine to go into production. Osisko estimates it will extract more than 9 million ounces of gold at Canadian Malartic from now until 2027. The mine currently employs 465 people.

Barrick receives Zambian clearance for Equinox acquisition: all regulatory approvals now received

Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) ("Barrick" or "the Company") announced today that it has received the unconditional approval of the Zambian Competition and Consumer Protection Commission for Barrick's proposed acquisition of all of the issued and […]

Shear Diamonds announces engagement of DR Americas to evaluate Jericho diamond recovery plant

Shear Diamonds Ltd. (TSX VENTURE:SRM) is pleased to announce that it has engaged the services of DRA Americas ("DRA") to evaluate the existing diamond recovery plant at the Jericho Diamond Project, Nunavut. DRA is a […]

Cameco, Uranium One shares fall on Germany’s nuclear decision

Shares of top Canadian uranium producer Cameco (CCO.TO: Quote) slipped as much as 4.4 percent on Monday, after Germany said that it plans to shut all its nuclear reactors by 2022. The move to shut down its nuclear program comes just nine months after Berlin announced an extension to the lifespan of its plants by an average 12 years.

Gold Canyon intercepts 292.5 meters at 1.13 grams per tonne gold at Springpole gold project-stakes additional 10,000 acres

Gold Canyon Resources announced assays from the final four holes of its Winter 2011 Diamond Drill Program at its 100% controlled Springpole Gold Project, located 110 kilometers northeast of the Red Lake Mining Camp, Ontario, Canada. Results include 292.5 meters at 1.13 grams per tonne gold (959 feet at 0.033 oz per ton gold) including 198.5 meters at 1.42 grams per tonne gold (651 feet at 0.041 oz per ton gold) in hole SP11-059 drilled in the southeast part of the Portage Zone. "Our infill drilling this winter continues to demonstrate remarkable consistency within the Portage Zone," comments Dr. Quinton Hennigh, Technical Advisor and Director of Gold Canyon Resources.

Capstone adds 219 million pounds of copper in M&I mineral resource at Minto mine

Capstone Mining announced the result of a National Instrument 43-101 compliant mineral resource estimate for the Wildfire/Copper Keel area at the Minto Mine in Yukon, Canada. Wildfire/Copper Keel is now recognized as a southeastwardly extension of the Area 2/118 deposit which is currently being pre-stripped in preparation for mining. The combined Area 2/118/Copper Keel/Wildfire mineral resources are now recognized as a single mineral deposit and will be referred to as the Minto South Deposit ("MSD"). The Copper Keel region of this larger deposit model is still open and exploration drilling is currently in progress with two drills. Image of Minto mine from Capstone Mining.

Commodities boom drives economic growth in several Canadian provinces

A Conference Board of Canada report says high energy and metals prices "are prompting resource companies to invest billions in iron ore projects, nickel processing and offshore oil developments" in Newfoundland and Labrador, generating the largest growth in real GDP this year of all the Canadian provinces." The board's Provincial Outlook - Spring 2011 report issued Wednesday also forecasts that Saskatchewan "will benefit from tax breaks and a hot mining industry."

Critical Elements Corporation intersects 1.64% Li20 and 226 ppm Ta2O5 over 9.20 metres near surface

Critical Elements Corporation (TSX VENTURE:CRE)(OTCQX:CRECF)(FRANKFURT:F12) is pleased to announce the latest results of drilling on the Rose Tantalum-Lithium deposit. The table (found by clicking on the link to the press release below) shows the results for holes LR-11-156 to LR-11-171 (except for Hole LR-11-167), drilled to test the eastern extension of the zones. All the holes intercepted the mineralized zones with similar grades to earlier results. Some intersections returned particularly high tantalum grades, such as holes LR-11-160, LR-11-164, LR-11-166 and LR-11-169, which yielded 405, 483, 483 and 466 PPM TA2O5 respectively.

ABB commissions first gearless mill drives project in Canada

Commissioning and start-up of Canada’s first gearless mill drive (GMD) system has been completed at Osisko Mining Corp’s Malarctic project and will increase production capacity at the mine. The system was commissioned by ABB, a leading power and automation technology group. Image of the Malarctic mine by Osisko Mining

New merged mid-tier gold company aims for 800,000 oz by 2015

Chief operating officer of Alacer Gold Corporation Louw Smith told the Resources and Energy Symposium in the Australian mining city of Broken Hill that there were growth developments at both the company's operations in Western Australia and in Turkey.

Kirkland Lake Gold sees 56 percent rise in Q4 gold production

Canadian gold miner Kirkland Lake Gold Inc said its quarterly gold production rose 56 percent. Quarterly gold production rose to 23,466 ounces, from 14,995 ounces, a year earlier. The Ontario-based company said it produced a record 10,175 ounces of gold for the month of April. Image by Kirkland Lake Gold

Oil sands poised to become largest source of US crude imports

According to testimony before the US Congress concerning the construction of the $7bn Keystone XL pipeline extension from Alberta to Texas, crude produced by Canada’s oil sands, which represent just over half the country’s total production, has already surpassed the total volume of imports from the US number two supplier Mexico. Since 2000 Canada’s oil sands output has more than doubled: from 600,000 barrels to about 1.5m barrels per day in 2010. Canada supplies 2m barrels per day or 22% of US crude oil imports, up from 15% a decade earlier. The sands’ 175bn barrels of recoverable oil places Canadian oil reserves third in the world behind Saudi Arabia and Venezuela.

Top-three driller Foraco pushes miners for longer contracts

TSX-listed drilling services firm Foraco International is looking to sign longer contracts with mining companies, especially the majors, rather than the one-year terms that have been the norm in the sector, chairperson and co-CEO Daniel Simoncini said in Toronto on May 20th. Read more

West Africa opens its doors to Fordia

Canadian manufacturer Fordia is strengthening its presence on the African continent with the inauguration of its first office in Ghana as a hub to handle its West African operations, covering nine countries, namely: Mali, Nigeria, Burkina Faso, Cote d’Ivoire, Liberia, Sierra Leone, Senegal, Guinea and Ghana. Read the full press release

ArcelorMittal launches CAN$2.1 billion dollar investment and the creation of 8000 jobs

The investment will allow ArcelorMittal Mines Canada to increase its annual production of iron ore concentrate from 14 million tons to 24 million tons by 2013. AMMC is also evaluating increasing its production of iron ore pellets from 9.2 million tons to 18.5 million tons. The scheme represents a total investment of CAN$2.1 billion dollars that will create 8,000 jobs during construction and more than 900 permanent jobs once completed. Commenting, Peter Kukielski, Member of the Group Management Board and Head of Mining for ArcelorMittal, said “ArcelorMittal Mines Canada is a flagship mining asset for the Group, which offers considerable opportunity for expansion. We have already announced our intention to grow our iron ore production to 100 million tons by 2015 and this expansion forms an important part of that.”