Harte’s Bulk Sample
Harte Gold Corp has formally requested approval from the Ontario Ministry of Northern Development and Mines to mine an additional 30,000 tonnes under the Bulk Sample permission for a 70,000 sample. Purpose is to better test Sugar Zone mineralization and in light of increased mining widths encountered to date under the Bulk Sample.
Black Fox Mine work
A bought $51.7 million financing deal will allow Primero Mining Corp. to undertake exploration and development at the company’s San Dimas and Black Fox Mines. Funds also will be used for working capital and general corporate purposes.
Tango diamond mine
Work on the proposed Tango diamond mine that is expected to replace the Victor, the only operating diamond mine in Ontario, hopefully will resume this coming winter. De Beers Canada suspended development work on the Tango in February in order to deal with questions about the environmental effect of the project in the James Bay Lowlands.
Orefinders Resources Inc
Orefinders Resources Inc. intends to generate cash flow from its Mirado Projecct while working towards its long term objective of putting it into commercial production. On Aug. 10, its financial position was enhanced when it was able to announce that it has been approved for the Ontario Prospectors Association’s (OPA) Junior Exploration Assistance Program (JEAP). The JEAP program is sponsored by the Northern Ontario Heritage Fund Corporation and the OPA. The JEAP program has committed to provide Orefinders with a grant to return funds to the company of up to 33.3 per cent of approved eligible exploration expenditures at the Mirado Mine Project to a maximum of $100,000.
Explor Resources Inc. has announced that Teck Resources Limited has met its first year commitments under the Earn-in Option agreement for the Timmins Porcupine West Property. Teck completed exploration expenditures of at least $1,500,000 prior to May 1st, 2016. It is currently working on the next phase of its earn-in.
One hurdle to the development of an open pit gold mine near Gogama has been jumped but there are several more facing owner IAMgold Corporation. On April 14, 2016 the Canadian Environmental Assessment Agency gave the green light to the project but IAMgold needs to obtain other federal permits.
Hoyle Pond Extension
The gold mine with the richest ore in the history of the Timmins Mining Camp gets richer every day. A satellite operation to the Hoyle Pond Mine in Hoyle Township called the Hoyle Pond Extension (HPE) is continuing development work in several new zones. Two internal shafts in HPE known as Winze #1 and Winze #2 are accessed by ramp, with Winze #2 being three quarters of a kilometre east of the parent mine. At least one of the several zones discovered in the past few years run under the Kidd Creek Mine Metallurgical Complex and into the adjoining Matheson Township on the east side of Hoyle Township.
Goldcorp Inc. plays a significant economic role in the City of Timmins through its Porcupine Gold Mines (PGM) Group. Porcupine is 100%-owned and consists of four mining operations: Hoyle Pond, Dome, Stockpile, and Hollinger, all of which feed the Dome processing facility.
Alamos Gold Inc
Alamos Gold Inc. expects significant free cash flow growth in 2017, driven by a combination of lower costs and capital spending.
Kirkland Lake Gold
A two-pronged strategy to achieve growth is paying off these days for Kirkland Lake Gold Inc. The strategy is based on acquisitions and a heavy investment in exploration. Through the acquisition of St Andrew Goldfields Ltd. on Jan. 26 the company acquired both established producers and Ontario’s latest gold mine, the Taylor, in the Golden Triangle. The Triangle comprises the historic Timmins, Matheson and Kirkland Lake Mining Camps. KL Gold raised $15 million in July through a non-brokered private placement financing. One of the purposes of the financing is to support an $18 million exploration budget for 2016. KL Gold now has four producing mines, the Macassa in Kirkland Lake and the Holt, Holloway and Taylor in the Timmins-Matheson area. As well, it now has a significant land package in what it calls its East Timmins Holding.