Canada Mining News

Selwyn Resources Ltd.: Additional High-Grade Drill Results Confirm Expansion of XY West Deposit

Selwyn Resources Ltd. ("Selwyn") (TSX VENTURE:SWN) is pleased to announce additional drill results from the XY West deposit at Selwyn Project, Yukon.

Orex to Pursue Exploration Work on Goldboro Gold Project

MONTREAL, CANADA--(Marketwire - Sept. 29, 2011) - OREX EXPLORATION INC. (TSX VENTURE:OX)(FRANKFURT:O5D) and OSISKO MINING CORPORATION (TSX:OSK)(FRANKFURT:EWX) would like to inform shareholders that Osisko has terminated its option to acqui...

Here comes Keystone XXL

Enterprise Products Partners and Enbridge on Thursday announced a proposed new 800 kilometre (500 mile) pipeline from Cushing, Oklahoma – the pricing point for US crude – to the Gulf of Mexico. The Wrangler Pipeline would have the capacity to carry up to 800,000 barrels of crude oil a day. Although the glut at Cushing has eased this year it is the main factor behind US crude trading near a record discount of $25/barrel to the international Brent benchmark. Canadian heavy oil from the oil sands – all of which goes to the US – sells for $10+ less than US crude, meaning oil sands developers have to deal with an effective oil price of $60-$70 a barrel. Unlike the controversial Keystone XL, Wrangler does not cross international boundaries and won't have to be approved by US president Barack Obama.

BCGold Corp. drops 10% after private placement falls way short of expectations

Vancouver-based gold and copper explorer BCGold Corp. dropped 10% or 1c on the Toronto venture board after announcing that it closed the second tranche of its private placement for a total just shy of $1.6 million. In a sign that raising money is much harder now than just three months ago, the number falls far short of the $2.4 million the tiny firm was hoping for when it announced the non-brokered private placement in July. The firm hasn't struggled to find investors in the past – sector giant Kinross holds 8% while institutions have secured more than a fifth of the company. The stock is down from an all-time high of 80c hit in January of 2007.

Dumping on Pierre Trudeau and the National Energy Policy, again

David Frum, in a debate with Lawrence Martin at the Museum of Civilization in Ottawa this September, looked at Pierre Trudeau's legacy. Frum said Trudeau's turn at prime minister was a disaster for Canada. One of his many transgressions was the National Energy Policy.

Climate change will be expensive for Canada: NRT

The effects of climate change will cost Canada about $5 billion per year by 2020 and increase to somewhere between $21 and $43 billion per year in 2035, according to the National Round Table on the Environment and the Economy. The NRT released its study this week, Paying the Price: the Economic Impacts of Climate Change for Canada. The study finds that costs will be borne by the timber industry and the coastal regions. Medial costs will also be higher since there will be adverse effects on people's health.

Andover Announces Final Payment to Silvermex

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2011) - Andover Ventures Inc. ("Andover") (TSX VENTURE:AOX)(OTCBB:AOVTF)(FRANKFURT:R2X) announces that it has paid the final payment of $2,000,000 to Genco Resources/SilverMex Resources ...

Sudanese-Canadian gold mine to expand, produce copper

By Ulf Laessing HASSAI GOLD MINE, Sudan (Reuters) - Sudan plans to double gold production at its main mine run together with Canada's La Mancha Resources LMA.TO within around two to three years and launch a copper production by 2015 or later, company

Where are those new BC mines? Mining Association gives us a hint

BC Premier Christy Clark warmed the hearts of the mining community in British Columbia last week when she committed her government to speeding approvals for new projects, and help to open up eight new mines and expand nine existing mines by 2015.

Temex Resources up 14% as it extends mineralization at Broulan Reef

Temex Resources (CVE:TME) Wednesday reported additional high grade assay results over significant core widths from surface exploration drilling on the Broulan Reef Mine area of the Whitney Property in Ontario, extending mineralization to the east. Shares in the company were up 14% at 24 cents on the TSX Venture Exchange Wednesday morning.

Nobel peace prize winners won't give Keystone a chance

TransCanada’s bid to build the Keystone XL pipeline is facing growing high-profile opposition, drawing fire from the Dalai Lama (pictured), Archbishop Desmond Tutu and seven other Nobel Peace Prize laureates on Wednesday who are following in the footsteps of a raft of Hollywood celebrities and green activists. The laureates, only one of whom is North American, insist the project will "endanger the entire planet" and urged US President Barack Obama not to approve construction of the $7 billion, 3,190km Keystone XL pipeline that could carry up to 700,000 barrels per day of Alberta’s oil sands to refineries on the US Gulf Coast and ensure a better price for Canadian crude, which trades at a discount of more than $20/barrel to international prices.

Major Drilling announces closing of $70 million offering

Major Drilling Group International Inc. ("Major Drilling" or the "Corporation") (TSX: MDI) is pleased to announce that it has closed its prospectus offering of subscription receipts ("Subscription Receipts"). The Corporation issued a total of 5,900,000 Subscription Receipts at a price of $11.90 per Subscription Receipt for aggregate gross proceeds of $70,210,000 (the "Offering"). The Offering was underwritten by a syndicate of underwriters led by TD Securities Inc. that included Scotia Capital Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Beacon Securities Ltd., Jennings Capital Inc. and Salman Partners Inc. (collectively, the "Underwriters").

BHP Billiton planning to build five new potash mines in Saskatchewan

The StarPhoenix reports that BHP Billiton is planning to build five potash mines, all of which could rival the Jansen project. The company is on target to begin hauling potash out of the ground by 2015, […]

CaNickel announces $20 million in committed equity

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2011) - CaNickel Mining Ltd. ("CaNickel" or the "Company") (TSX:CML) is pleased to announce that it has entered into an equity financing agreement with Haverstock Master Fund, Ltd. ("Haverstock"), a fund managed by Haverstock Manager, LLC., to secure access to funds on an as-needed basis for up to $20 million through a Committed Equity Facility ("CEF"). The issue and sale of common shares of the Company (the "Common Shares") under the facility is subject to regulatory approval.

Markets and gold rebound

Fear crept out of the markets today and buyers came back. The S&P 500 was up 1.07% and the S&P TSX was up less than 1%. Gold futures rose to $1,652.50/oz, up 3.6 percent. On Monday, gold went as low as $1,535/oz. The overnight stock markets were also up. The Hang Seng Index was up 4.15% and the S&P ASX closed 3.64% higher.

Choice Gold finds visible gold at its Sugarloaf Peak gold project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2011) - Choice Gold Corp. (CNSX:CHF) ("Choice Gold" or the "Company") is pleased to announce that visible gold has been found in the most recent drill hole (SLP-11-06) of its Phase 1 drilling campaign on the Sugarloaf Peak Gold Project ("Sugarloaf Peak" or the "Project") in western Arizona. The gold occurs within quartz-fluorite-pyrite veinlets crosscutting a slightly sericitized felsic crystal tuff. This tuff interval is also injected by multiple generations of veins of diverse composition. In addition to the fluorite-quartz-pyrite veinlets, sphalerite-chalcopyrite, quartz-pyrite and late quartz-calcite veinlets have also been observed.

North Atlantic Potash and Rio Tinto announce joint venture on potash development

North Atlantic Potash Inc., the Canadian subsidiary of JSC Acron, and Rio Tinto today signed a joint venture agreement on potash exploration opportunities and possible mine construction. The agreement relates to North Atlantic Potash''s potash permit holdings located in the southern part of Saskatchewan''s potash district. The joint venture will cover nine permitted areas that cover an area of about 600,000 acres (about 241,000 hectares) that extends from the eastern shore of Last Mountain Lake southeast toBroadview (see map on website: permits KP 375 in the west to KP 403 in the east).

Canadian stocks gain on metals and mining rally

SAN FRANCISCO (MarketWatch) -- Canadian stocks climbed 2.4% in midday trading on Tuesday, led by strength in metals and mining shares as world markets gained on optimism for more decisive action in the euro-zone debt crisis. The benchmark S&P/TSX

BRIEF-North Atlantic Potash and Rio Tinto form joint venture on potash development

Sept 27 (Reuters) - North Atlantic Potash: * North Atlantic potash and Rio Tinto announce joint venture on potash development * North Atlantic potash-agreement relates to its potash permit holdings located in southern part of Saskatchewan's potash

Queenston closes $25,000,000 financing

TORONTO, ONTARIO--(Marketwire - Sept. 27, 2011) - QUEENSTON MINING INC. (TSX:QMI)(FRANKFURT:QMI) ("the Company" or "Queenston") is pleased to announce that it has completed its previously announced private placement financing of 3,333,333 flow-through common shares at a price of $7.50 per share for aggregate gross proceeds of approximately $25 million, which included the exercise in full of the over-allotment option.

Allana Potash adopts shareholders rights plan

TORONTO, ONTARIO--(Marketwire - Sept. 27, 2011) - Allana Potash Corp. (TSX:AAA)(OTCQX:ALLRF) ("Allana" or the "Company") today announced that it has adopted a Shareholder Rights Plan (the "Plan").

White Tiger Gold grants $10 million credit facility to Century Mining

White Tiger Gold, a Russian exploration company, granted a $10 million credit facility to Century Mining. The two companies will be combined at the end of the year. The funds will be used to help Century Mining expand. Century Mining has operating gold mines in Quebec and Peru.

First Nickel begins ore delivery from Ontario mine

Canadian miner First Nickel Inc said it restarted production at its Lockerby nickel-copper mine in Ontario and made its first ore delivery to diversified miner Xstrata Plc's nickel business.

Pacific Ridge reports gold intersected in 9 of 10 initial holes drilled at Skookum main target, Mariposa project, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2011) - Pacific Ridge Exploration Ltd. (TSX VENTURE:PEX) (the "Company") has successfully completed its 2011 exploration program on its properties in the Yukon's White Gold District. The 2011 exploration activity was focused on the Mariposa Property, which included 6,000 metres of diamond drilling in 41 holes, grid-based soil sampling, ground and airborne geophysics, and geological reconnaissance work. The results of 10 of the 18 Phase 1 holes drilled in the Skookum Main target are included in this release. As shown in the summary table below, gold values were intersected in 9 of these 10 holes. The results received to date warrant continued drilling in 2012.

Prophecy Platinum up 5.69% after announcing Wellgreen results

Prophecy Platinum (CVE:NKL) was up 5.69% on Monday trading after announcing drill results at its Wellgreen project, located in Yukon. Prophecy stated that borehole WS11-188 encountered 457 meters of mineralization grading 0.47% NiEq (including 0.72 […]