Canada Mining News

Sunridge increases land position at North Central Alberta prospect

Sunridge Energy Corp. announced Thursday that it has successfully acquired an additional 640 acres at its oil prospect located in North Central, Alberta which increases Sunridge's land position in the area from 800 acres to 1,440 acres.

Black Iron: Forbes and Manhattan’s next big iron ore play

Black Iron (TSE:BKI) is an emerging Canadian iron ore exploration and development company advancing its 100% owned Shymanivske Project in KrivoyRog, Ukraine. While the company’s core focus is currently with Shymanivske, it also holds permits to a 3.36

Oil sands – big up or ship out

Fast-disappearing Oilsands Quest is a prime example of the risks of trying to go it alone in the oil sands. Slack crude prices and a sluggish US economy may now force other small players into mergers and reverse a slowdown in oil sands deals that have plunged 63% this year to $8.5 billion worth of transactions.

Diamonds North starts copper-silver-bismuth exploration at Hepburn

Diamonds North Resources Ltd. announced on Wednesday that the 2011 exploration program has begun on the Hepburn property in the Northwest Territories. The program will focus on delineating areas of concentrated mineralization for drilling using induced polarization (IP) surveying and prospecting.

Sprott charity sells gold to buy silver

The charitable foundation run by Sprott Assett Management's chief executive, Eric Sprott, announced Wednesday it is selling 2 million units in Sprott Physical Gold Trust and using the money to buy silver. The closed-end mutual fund trust holds 97% of its total net assets in physical gold bullion in London Good Delivery bar form. Eric Sprott is a well known investment manager and gold bug in Canada and personally holds 6,000,000 units of the trust worth about $94 million based on Wednesday's mid-afternoon price of $15.74 .

Kivalliq Energy Corporation: discoveries continue along Lac Cinquante trend; mineralization confirmed over 2.3 km

Kivalliq Energy provided an update on diamond drilling near the high grade Lac Cinquante Uranium Deposit, located within the Angilak Property in Nunavut, Canada. Recent drilling successfully discovered a mineralized zone, the "Western Extension", located to the west and along strike from the 1.35 kilometre long Lac Cinquante deposit. In addition, two diamond drills are now delineating a new zone, the "Eastern Extension", discovered 450 metres east of the inferred resource area. Highly radioactive readings from diamond drilling along the Lac Cinquante structure have now extended the known strike extent of uraniummineralization to at least 2.3 kilometres.

Southern Silver closes second tranche of private placement

Southern Silver Exploration Corp. ("Southern Silver") (TSX VENTURE:SSV)(FRANKFURT:SEG) announces that it has closed the second tranche of its previously reported non-brokered private placement by issuing 4,818,206 units at a price of $0.17 per unit for gross proceeds of $819,095. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of two years at an exercise price of $0.22 per share.

Renaissance Gold grants options

Renaissance Gold Inc. (REN - TSX Venture)("RenGold" or "Company") reports that pursuant to the Company's shareholder approved stock option plan

Kalimantan Gold – Jelai update

As announced on February 15, 2011, Kalimantan Gold Corporation Limited (TSX VENTURE:KLG)(AIM:KLG) (the "Company") executed a definitive option agreement (the "Deed") with Tigers Realm Minerals Pty Ltd. ("Tigers") an Australian based, privately owned resource company. Pursuant to the Deed Tigers may earn up to a 70% interest in the Company's Jelai Gold Project by meeting certain project expenditure obligations and completing a bankable feasibility study.

BCGold Corp. announces trench assays up to 979 g/t gold, to commence milling at Engineer Gold Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 16, 2011) - BCGold Corp. (TSX VENTURE:BCG)(PINK SHEETS:BCGOF) (the "Company") is pleased to provide an update for the current Phase I exploration and development program at its Engineer Mine property,

Joint-venture potash project goes to vote over land

Encanto Potash Corp. has announced the Muskowekwan First Nation will vote on a Treaty Land Entitlement (TLE) designation on Oct. 1. Should the majority vote in favour, about 15,600 acres of the First Nation's treaty land will be added to the joint-venture potash project held on reserve lands by both parties.

Rio Tinto plans to double Labrador mine output

Mining giant Rio Tinto intends to increase production dramatically at the Iron Ore Company of Canada site in western Labrador.

Alberta analeptic: oil erases a week's losses and syncrude premium widens unexpectedly

Crude oil jumped to the highest level in more than a week on Monday after positive news about Japan signalled the global economy may not be in such dire straits as previously thought, the dollar slumped and fresh data showed China's reliance on foreign oil – now at over 55% – is increasing at a rapid pace. US crude in the form of West Texas Intermediate rose 3% to just shy of $88 per barrel and the discount to international prices narrowed slightly. The price for Canadian synthetic crude – a light oil manufactured from oil sands – topped $102 as the premium it attracts widened to over $15 despite a looming end to shortages.

Potash Corp. leads fertilizer stocks on rampage

A string of positive developments have lit a fire under North American potash stocks with Potash Corp. of Saskatchewan leading the charge. The industry bellwether has made investors almost $5 billion richer since Tuesday after an Indian bid for Belarus's state-owned producer valued that company at close to $30 billion. The news came after the EU's largest player said its profits could jump 40% over the next six months and disappointing corn harvests in the US boosted demand for the soil nutrient. Potash Corp. dragged higher the whole sector which also saw the listing of a potash from waste firm on Monday.

Aurizon’s new CEO takes reins at gold miner

In late June, Aurizon Mines announced that George Paspalas would take over as president and chief executive officer for David Hall, who has been with the company for decades. (Mr. Hall is staying on as chairman.) Mr. Paspalas' career includes fourteen years in senior management positions, most recently as the Chief Operating Officer at Silver Standard Resources Inc.

Northern Ontario: 175 million ounces of gold and counting

At it’s peak, the Klondike gold rush only lasted for a few years – 1896-99 – and produced a miserly 12.5 million ounces of gold. “Chump change” compared to northern Ontario’s four major gold rushes.

Beware junior gold miners

Julie Gordon of Gold Matters writes with recession fears weighing on equity markets, resource investors would do well to steer clear of speculative Canadian mining plays and put their cash into producing miners with strong […]

Manicouagan provides an exploration update on its Pickle Lake gold properties

In late July 2011, Manicouagan completed a follow-up diamond drill program on its Kasagiminnis Lake Project to test for the down-dip extension of the encouraging results from the drill program carried out in April this year. The current drill program consisted of five holes KAS-11-10 to 14 totalling 1,095.3 metres. Four holes (KAS-11-11 to 14) all intersected the mineralized zone at depth. Assay results are expected by the end of August. Hole KAS-11-10 had to be abandoned due to ground conditions.

Selwyn Resources Ltd.: deep drilling at Don Deposit defines new mineral potential in Don Valley

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Aug. 15, 2011) – Selwyn Resources Ltd. ("Selwyn") (TSX VENTURE:SWN) is pleased to announce the final drill results from the Don deposit area at Selwyn Project, Yukon. The exploration drill results expand […]

Thor Announces Closing of the Acquisition of African Star

Thor Explorations Ltd. (TSX VENTURE:THX) ("Thor" or the "Company") is pleased to announce that it has closed its previously announced transaction (the "Transaction") of all of the issued and outstanding shares of African Star Resources Incorporated

Labrador Iron to sell 2011 iron ore production to IOC

Labrador Iron Mines Holdings Limited (TSX: LIM) is pleased to report that it has entered into an agreement with the Iron Ore Company of Canada (“IOC”) for the sale and shipping of all of LIM’s 2011 iron ore production. Iron ore from LIM’s new James Mine in northwest Western Labrador is currently transported by rail from its Silver Yards rail head, near Schefferville, via the TSH railway and the Quebec North Shore and Labrador (QNS&L) railway, to the Port of Sept-Iles where the ore is unloaded and stockpiled adjacent to LIM’s Point-aux-Basques dock facilities leased from the Port of Sept-Iles.

Mega Uranium Ltd. releases unaudited results for the three and nine months ended June 30, 2011

Mega Uranium today announces its unaudited results for the three and nine months ended June 30, 2011. As at June 30, 2011, Mega had cash, cash equivalents and marketable securities totaling $31.1 million, as compared to $49.9 million at the end of September 30, 2010, a decrease of 38%. The decrease is primarily attributable to the Lake Maitland feasibility costs and other exploration expenditures incurred during the current period. As at June 30, 2011, the Company had mineral properties and related expenditures of $265.9 million, as compared to $251.7 million as at September 30, 2010. The increase reflects expenditures on our mineral properties of $18.9 million, offset by write offs of mineral properties of $4.6 million.

Carpathian closes $20 million strategic placement by Barrick Gold Corporation

Carpathian Gold announced that it has closed its previously announced agreement with Barrick Gold Corporationfor a non brokered CDN$20 Million private placement to purchase 38,461,538 common shares at a price of $0.52 per share.

Field assessment of nickel targets on Diamonds North's Amaruk property

Diamonds North Resources Ltd. (TSX VENTURE:DDN) reports that Minerals and Metals Group (MMG) has informed the Company that they have mobilized a field crew to conduct lake-bottom sediment sampling to follow-up on preliminary EM anomalies identified from the survey recently completed on the Amaruk nickel project in Nunavut (see news release July 14, 2010). To view a presentation on the nickel potential at Amaruk visit our website www.diamondsnorth.com.

Aurizon Mines gross profit up 45%

Aurizon Mines reported gross profits of $29.1 million in the second quarter, a 45% increase from the same period last year, while net profit was up 17%. Chief executive David Hall credited stronger cash flows due to better performance from the Casa Berardi mine in the Abitibi region of Quebec, Canada, where the company is deepening the shaft and conducting the largest exploration program in Aurizon's history. Aurizon produced 41,418 ounces of gold in Q2, an 8% increase from the same period last year, at cash costs of US$544/oz. Image of Aurizon Mines' Joanna project