This year the company has added 844,000 ounces of gold in the measured and indicated category and 519,000 ounces of gold in the inferred to its total overall resource for Valentine Lake.
Newfoundland Mining News
Infill drilling in the southwestern part of the Marathon deposit in Newfoundland continues to return high-grade gold intercepts.
The Marathon deposit has the potential to develop an underground mine but for now management believes it’s more cost-effective to find open-pit resources at US$10 per ounce rather than more costly underground resources.
The Valentine Lake project is made up of four open-pittable deposits: Marathon, Leprechaun, Victory and Sprite, but Marathon and Leprechaun contain the vast majority of the gold.
Anaconda has been busy trying to grow through mergers and acquisitions. Last year, it acquired its first project in Nova Scotia — Goldboro — through the acquisition of Orex Exploration. And in February, it added a new deposit to Great Northern Project in Newfoundland.
Canaccord Genuity reported that Marathon Gold Corp. released an updated resource on its Valentine Lake gold project in Newfoundland.
It's expected to help Atlantic Canada offshore production rise 44% to 307,000 bpd by 2024.
When the company's Pine Cove pit mine stops producing in about eight months, work will begin to turn it into a tailings storage facility with capacity of up to 7 million tonnes.
Funding will help English junior miner Rambler to increase production at its flagship mine, Ming, located in the Baie Verte Peninsula.
The Vancouver-based miner profit fell 21% in the quarter, making it adjust its 2015 coal production forecast to 25-26 million tonnes from 26.5-27.5 million tonnes.
Teck is facing sanctions over infractions that include openings in the deposit where the ore is stored and a failure to build sufficient water infrastructure.
Until now Canadian companies needed to have at least 51% stake in any uranium project.
According to TD's latest report, real GDP growth in Alberta will inch forward by only 0.5% this year before speeding up to 1.8% in 2016.
Chief Financial Officer Luciano Siani confirmed Tuesday the company's plans to sell a minority stake in its metals-producing unit.
The drilling program at the miner's Captain Cook salt/potash deposit in Western Newfoundland will consist of two holes.
While production is not expected until after 2020, the finding was welcomed in a province that leans heavily on offshore earnings.
Report shows Canadian taxpayers could be on the hook for a massive environmental cleanup bill in the event of an offshore oil leak.
For the three and six month periods ended June 30, 2012, the company reported a comprehensive loss of $11,955,000, compared to a comprehensive loss of $24,551,000 for the same periods respectively ending June 30, 2011.
Soldi Ventures Inc. Receives Results from Metallic Gold Assays at the Golden Bullet Project, Newfoundland
Soldi Ventures Inc. (Soldi) (TSX VENTURE:SOV) is pleased to provide the metallic assay results from the first of the re-assayed holes from the winter 2011 drilling program on its Golden Bullet project in central Newfoundland. VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 9, 2012) - Soldi Ventures Inc. (Soldi) (TSX VENTURE:SOV) is pleased to provide the metallic assay results from the first of the re-assayed holes from the winter 2011 drilling program on its G...
Reuters reported that Marathon Gold?s (TSX:MOZ) shares rose following the announcement of a gold discovery in Newfoundland. As quoted in the market news: Shares of the Toronto-based company were trading up 24 cents at C$1.34 on the Toronto Stock Exchange.