Klondike Gold Corp. has completed drilling 5,365m of drilling in 71 holes this summer at the Lone Star property. Assays pending… I assume this will make or break the project for them, but what do I know?
Aben Resources has raised $700,000 to stay alive, however they plan to spend it in BC, not Yukon…
Pacific Ridge intends to raise $300,000 to stay alive, and they also plan to spend it in BC, not Yukon… They farmed out their previous flagship Mariposa project (in the Yukon) to a private company.
Golden Predatorhas found a new big juicy gold in soil anomaly 7km northwest of the main 3 Aces area. Of note, they are drilling PQ sized core holes this year – huge diameter!
Stakeholder Gold is doing RAB drilling on their Ballarat property in the White Gold area… Note proximity to the proposed Coffee project road.
G4G Capital Corp. Announces Proposed Name Change to White Gold Corp. Just so you don’t have to ask “who the hell is White Gold Corp.?”
Cominco knew about lots of additional zones when they shut her down. Later, Westmin then Tamerlane under Peggy Witte added to the resources and tried to crank things up again. Though “Mining Man of the Year” Peggy had changed her names back to Margaret Kent by that time, 2007.
Anyways, there is lots and lots of zinc still around this neighbourhood (42 known zinc-lead deposits over 68 kilometres), some at decent grades. But as I recall the local indigenous folk weren’t super keen on more mining (back 10 or 20 years ago). Give them a better deal, maybe. And the dolomite host rocks have lots and lots and lots of water in them that wants to flow into any holes in the ground. That pit in the photo filled up after the pumps stopped quicker than you can say “Jack Robinson”.
I think I know a good place to put future tailings…
And remember, zinc prices will go way up next year. But never this year…
No less a source than the great Waldemar Lindgren, in Mineral Deposits from 1913, p. 548:
At Hill End, north of Bathurst in New South Wales, folded Silurian slates and tuffs are intruded by dikes and sills of quartz porphyry. The lenticular quartz veins lie in slate or at the contact with the intrusive rocks. Coarse gold prevails; one mass extracted in 1872 consisting of solid gold weighed 630 pounds…. Five and one-half tons of solid gold were recovered at this place from 10 tons of quartz…
When you hear about huge nuggets found in Australia they are generally from this vicinity – Ballarat, Bathurst, Bendigo. Found by fossickers aka prospectors.
They say that dry panning is almost as much fun as panning in ice cold water. But the nuggets can be bigger!
Prospector and drilling company face charges related to a bulldozed bush trail, north of Carmacks
I don’t really have any inside knowledge about the sordid affair, but have dug up the claim map.
At first I thought it was just the placer claims that were accessed by the trail, but 21km extends it all the way to the Halo claims. The placer claims were staked in June, while the 250 Halo quartz claims were staked in August (and are owned 100% by Thi My Linh Pham).
A bulldozer trail that is pushed off-claims has been a big deal for decades, as much of this trail appears to be. Also, map sheet 115I/8 shows an old trail that leads to the headwaters of McGregor creek – was this rehabilitated? Still, fixing up old trails has been verboten off claims for decades. Or was the dozer walked in with blade up – doesn’t sound like it in the article, but would that change things?
Here is the big question for prospectors as I see it. If the bulldozer trail had only been on the placer claims, is this still a problem with governments and regulators? It wouldn’t be in the Klondike or other mining ghettos. But this creek is new to placer mining as far as I can tell. You stake claims in June, and MUST perform physical work on them within one year, usually by drilling or trenching. None of that pay-in-lieu stuff that the quartz guys get. If this activity is blocked or delayed by bureaucrats until everything is frozen the miner is screwed, as the creek might not thaw until the end of June. Effectively vetoing or expropriating the claims.
Oh yeah, the project was also funded in part by a YMEP grant. D’Oh!
The Yukon Geoscience forum runs November 19 – 22, 2016. On Tuesday the 22nd there will be a one hour prospector’s forum, as been the case in recent years. Those who would like to present a 10 minute talk during this time please contact our fearless leader, the leader of the free world, Ron Berdahl.
G4G Capital Corp. recently signed a deal with Shawn and his crew to acquire their ground in the White Gold district (excluding ground already dealt to Goldcorp, Kinross and Comstock, and the Lucky Joe property). This still leaves Shawn with many, many claims in other parts of the Yukon. G4G’s shares went from under 20 cents to over 60 cents on the news. And they are raising $3m at 20 cents, which is looking like a great deal for the insiders. There are over 12,000 claims in 20 or so blocks. The Coffee trend claims, previously explored by Ethos might be the the best in the bunch, but there is a lot of good ground including Dime. And a LOT of “other” ground that undoubtedly includes a little bit of moose pasture (especially in the red blocks imho).
The deal seems to be on the steep side, so Cathy must be in charge of negotiations for the Ryan team! Evidently the Ryan name is once again as good as gold:
“In order for G4G to exercise the Option the following consideration will be paid to the Vendors:
– share consideration of 7 million common shares of G4G (“Common Shares”) issuable in two installments, 1 million within two business days of the Effective Date (as defined below) and 6 million within 18 months of the Effective Date;
– cash consideration of C$3.5 million payable in five installments, C$500,000 on the Effective Date, C$500,000 on the first anniversary of the Effective Date, C$500,000 on the second anniversary of the Effective Date, C$1 million on the third anniversary of the Effective Date and C$1 million on the fourth anniversary of the Effective Date;
– and reimbursement of the Vendors’ staking expenses of up to C$40,000.”
There is also a consulting agreement and a 2% NSR attached.
Nice work Shawn!
Oh yeah – those 12,301 claims will require $1.23 million dollars in exploration expenditures each and every year just to retain them all. Let’s hope the junior gold revival is really for real, right guys?
Goldcorp gets a significant chunk of the junior for less than $1.5 million – not a bad deal. Directly on strike with the Supremo zone! But can they reconcile the huge differences between the properties – the coffee property zones are named after coffee drinks, while the Dan Man zones are named after tea! Oh dear…
JDS Silver is not publicly listed, so flies under the radar pretty well. It is run by the Jeff Stibbard (JDS) team, and rumoured to be financed by Goldman Sachs(?!). JDS as a consulting firm is considered to be one of the very best mine development teams, and this is their first foray into mining for their own account. They acquired a deposit initially discovered ca. 1980 and developed almost into production a few times in the past for pennies on the dollar historically sunk into the property.
The Silvertip mine isn’t really in the Yukon, lying 10km or so into BC, but is considered to be an honorary Yukon mine due to the access being achieved only through the territory. And Watson Lake Yukon is the nearest community to the mine. And the mine is in Kaska first nation territory, with many/most members living in this area. So a Yukon mine.
This recent photo shows considerable progress before snowfall. Apparently they are starting to test the circuits at present, and on the website Jeff promised an October startup so here we are. Wishing the project good luck!
A few notes about the project:
– They acquired their mill from the Sa Dena Hes mine north of Watson Lake, removal of which sterilized the remaining resources there. A bad thing, for which I blame Teck. Teck & partner insisted on a zero liability shutdown & cleanup instead of selling mill and mine together to someone who would do further mining. Sad.
– Silvertip is a small, underground, high grade silver-zinc-lead mine. The ore is a high temperature carbonate hosted deposit, so no worries about acid rock drainage. 2.4 million tonnes at 350 g/t Ag, 6.7% Pb, 9.4% Zn. The mill should run in the 1200 to 1500 tpd range, so around 4 and half years of operation. There is more mineralization present at a lower grade.
– Anyone who has a decent Pb-Zn-Ag deposit in the neighbourhood should put some lipstick on it…
– People who have worked at Silvertip (aka Midway) in the distant past are concerned about the very weak hangingwall above the limestone host, and voids (caves) in the limestone that could cause problems/challenges/disasters.
– Goldman Sachs must believe the story that zinc will be in shortage next year. Never this year, always next year!
This episode of Monty Python explains the origin of Teddy Salad, CIA agent. I have long since retired from the firm, but the bastards wouldn’t pay to take me out of disguise! The only good thing is I am much smarter than all the other dogs. And I can still lick my balls…
This film is an amazingly accurate portrayal of the Yukon. The food, clothing and the culture. It could even have been filmed at Keno Hill. It is also clear that American foreign policy hasn’t changed in the intervening decades.