Osisko Mining Inc. Announces Letter of Agreement to Acquire Chantrell Ventures Corp.
Osisko Mining Inc. and Chantrell Ventures Corp. announced announce they have entered into a binding letter agreement by which Osisko will effect a business combination that will result in a reverse takeover of Chantrell by Osisko. Through proposed transaction , Osisko will transfer certain non-core assets of Osisko with a value of approximately $99.9 million to Chantrell in exchange for shares of Chantrell. In addition the shares of Chantrell will be subject to a consolidation on a 40:1 basis, subject to adjustment.
Landore Resources Limited Releases Technical Report and Preliminary Economic Assessment of the BAM Gold Project
Landore Resources Canada Inc released its technical and preliminary economic assessment report for its BAM Gold Project, at theirJunior Lake Property 235 km Northeast of Thunder Bay, Ontario. The Mineral Resource Estimate of the BAM Gold Project at a 0.3g/t cutoff is: 28,826,000 tonnes (t) at 1.03 grams/tonne (g/t) for 951,000 ounces of gold (ozAu) including 20,198,000t at 1.08g/t for 701,000 ounces gold in the Indicated Category.
Canada Cobalt Drills into Bonanza Grades at Castle Mine Near Gowganda
Canada Cobalt Works Inc. announced that Phase 1 drilling on the first level of the Castle mine near Gowganda, 75 kilometers from Kirkland Lake, has returned multiple high-grade cobalt and silver intercepts at very shallow depths and at depth.
Goldcorp Reports on Fourth Quarter 2018 and Full Year Results
Goldcorp released its final stand alone Fourth Quarter and full year results for 2018. The Canadian gold mining giant was purchased by Newmont Gold of Denver, Colorado in December, 2018.
New Shaft at Tahoe Resource's Bell Creek Mine Officially Opened
Tahoe Resources officially opened its new shaft at Bell Creek mine in Timmins and with it an expected immediate increase in productivity. The new shaft was replaces an historic 300 metre shaft and deepened it to 1,080 metres
Red Pine Exploration Announces Promising Drill Results from Surluga Deposit
Red Pine Exploration Inc. announced new results from its exploration infill drilling in the gaps in the Surluga Deposit and from its confirmation drilling in the higher grade zones of the Deposit. The Surluga Deposit is one of two known deposits, identified to date, on the large 6,519 hectares Wawa Gold Project, located near Wawa, Ontario.
Northern Graphite Plans to Increase Bissett Creek Production Rate
Northern Graphite Corporation announced it intends to increase production at its Bisset Creek Project by approximately 25,000 tonnes as part of its development plants. The decision to increase production was supported by an economic analysis that indicated increasing annual concentrate production by at least 20 per cent can be achieved with a relatively modest six per cent increase in capital costs for the first phase of development. A higher production would also reduce unit operating costs and is expected to have a very positive effect on the project’s net present value (“NPV”) and internal rate of return (“IRR”).
Rock Tech's Channel Assays Indicate additional quantities of Lithium Pegmatite
Gold market is hot again - Mega deals turn gold mining around
After years on the sidelines, gold producers are suddenly the mining world’s hottest topic as the industry gathers in Cape Town this week. For more than half a decade, gold miners have been stuck in the doldrums, shunned by investors following a string of missteps and bogged down by a stagnant bullion price. Then, in September, a surprise mega deal turned the industry on its head.
Detour Gold poised to Shift Gears
Major changes are likely in store for Detour Gold Corporation in 2019 now that the company’s highly public boardroom battle is in its rearview mirror. The company is poised to shift gears, downsize the head office structure, and concentrate on retooling daily operations.
A confidential source with direct knowledge of DGC’s recent developments, told Mining Life that the company’s struggles are on the ground at its northern Ontario gold mine, not the corporate boardroom of Detour’s downtown Toronto offices, although the two are inter-connected.