Over millions of years, the Tintina Fault has moved gold-bearing rocks from Canada into Interior Alaska. The Yukon River, as it enters Alaska, somewhat follows the trace of the Tintina Fault.
Hecla Reports 22 Percent Higher Silver, 4 Percent Higher Gold Production, Lower Debt, Growing Cash Balances
At the Greens Creek mine in 2019, 9.9 million ounces of silver and 56,624 ounces of gold were produced. For the fourth quarter, 2.7 million ounces of silver and 15,356 ounces of gold were produced. Silver production for 2019 was the highest it has been since Hecla acquired 100 percent ownership of the mine in 2008.
Now two-thirds of the way through an eighteen-month transition plan focused on modernization and increased production, Northern Star Resources CEO Stuart Tonkin says that the Pogo investment has exceeded expectations.
Alaska Department of Natural Resources awarded its 2019 Excellent Mine Reclamation Award to Ajax Mining Alaska Inc., a Fortymile mining district placer gold operation, in recognition of its successful continuous reclamation practices.
Millrock Resources signed a binding letter agreement whereby First Quantum Minerals Limited has been granted the exclusive right to enter an option agreement on Millrock’s Dragonslayer porphyry copper-gold project in eastern Alaska.
Mineral exports accounted for 36 percent of Alaska’s export total in 2017, and all signs point to mined commodities staying one of the state’s leading exports for years to come.
Millrock Resources has staked two more blocks of claims in the Goodpaster Mining District. These claims are in addition to a large block of claims staked by the company, announced late last month.
NOVAGOLD recently released its 2019 first quarter finacial results, which included an update on Donlin Gold.
Three world-class mining prospects are the Donlin Gold prospect in Southwest Alaska, the Upper Kobuk Mineral Project in Northwest Alaska, and Pebble in the Bristol Bay region of the state. All three are near or in the permitting phase.
Although the Alaska mineral industry is in better health in 2018 than it has been in the last five years, the spirited recovery that was in progress in the first quarter of the year turned into a dead-cat bounce, a minor unsustained recovery after a long down trend extending back to 2012.