Canada Mining News

Zone Resources expands the known zone of iron mineralization at the Moore-Ross Mountain Property, Quebec

Zone Resources announces that it has expanded the known zone of mineralization at the Moore-Ross Mountain Property due to additional information gathered during a compilation of historical exploration data on its Labrador Trough Iron Properties in the Nunavik district of northern Quebec. On May 4th 2011, Zone announced a summary of a partial set of drill results for the Moore Iron Zone on the Company's 7,000-hectare Moore-Ross Mountain property. Additional information has now been compiled from reports of statutory work filed by Fenimore Iron Mines Ltd. in 1952.

Teck announces temporary production interruption at Carmen de Andacollo

Teck Resources announced today that the mine and mill at its Carmen de Andacollo copper operation in Chile was idled on the morning of June 6th due to unusually heavy rain. The mine and mill are expected to be restarted on June 7th. Production loss due to the interruption is expected to be minimal.

Argonaut Gold reports Q1 2011 revenue of $25.7 Million

Argonaut Gold Inc. (TSX:AR) ("Argonaut" or the "Company") announces financial and operating results for the first quarter ended March 31, 2011. All dollar amounts are expressed in United States dollars unless otherwise specified. All financial […]

Oil sands project in Canada will go on if pipeline is blocked

One way or another — by rail or ship or a network of pipelines — Canada will export oil from its vast northern oil sands projects to the United States and other markets.

Copper Mountain Mine processes first ore

Copper Mountain Mining announced that construction of the processing plant is complete and on scheduled for June 2011 production from the Copper Mountain Mine. Mining is proceeding as planned and has been delivering ore to the primary crusher since mid April. The Company has been stock piling ore as part of preproduction mining activities.

Quantum Rare Earth Developments adds new director and advisory board members

Quantum Rare Earth Developments Corp. (TSX VENTURE:QRE)(OTCQX:QREDF)(FRANKFURT:BR3) ("Quantum", the "Company") is pleased to announce the addition of David C. Beling, P.E. to the Board of Directors, and the additions of James E. Reynolds, Chemical Engineer, and David R. Shoemaker, Mining Engineer to the Technical Advisory Board.

Purepoint Uranium Group Inc. completes flow-through financing with MineralFields Group and others

Purepoint Uranium Group Inc. (TSX VENTURE:PTU) is pleased to announce that it has completed a private placement of 2,272,727 units ("Units") at a price of $0.22 per Unit for gross proceeds of $500,000 to a group of investors including MineralFields Group. Each Unit will consist of one flow-through common share of Purepoint and one-half of a warrant ("Warrant"). Each whole Warrant will entitle its holder to acquire one non-flow-through common share of Purepoint for a period of 24 months from the date of issuance, at a price of $0.30 per share during the first 12 months and $0.35 per share during the second 12 months. All securities issued under this private placement are subject to resale restrictions until October 4, 2011.

Monarques obtains receipt for its final prospectus for its public offering of a maximum of $6,000,000

Monarques Resources announced that it has received a receipt for its final prospectus filed with the regulatory authorities in Québec, Ontario, Alberta and British Columbia, with respect to a public offering (i) of a minimum of $2,000,000 or a minimum of 2,000,000 common shares in the capital stock of Monarques, to be issued as "flow-through shares" within the meaning of the Income Tax act (Canada) (the "Flow-Through Shares"), at a price of $0.50 per Flow-Through Share, and a minimum of 2,500,000 units (the "Units") at a price of $0.40 per Unit and (ii) a maximum of $6,000,000 or a maximum of 8,000,000 Flow-Through Shares and a maximum of 5,000,000 Units (the "Offering").

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 "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."