Australian mining industry group praises free trade deal with Peru

On the one year anniversary of the signing of the Peru-Australia Free Trade Agreement (PAFTA), the Minerals Council of Australia issued a statement saying that the ratification of the deal is expected to deliver major investment and job opportunities for Australia’s mining industry. "Under PAFTA, Peru will eliminate 99.4% of its tariffs, including on valuable Australian resources such as iron ore, copper, nickel, coal, mineral fuels and oil," the statement reads. "Australian mining commodities and mining equipment, technology and services (METS) dominate the A$640 million trading relationship with Peru. In…

Monarques Gold reports solid grades at McKenzie Break deposit in Quebec

Assays are back for the first 21 holes of a 61-hole drill program completed at Monarques Gold Corp.’s (TSX: MQR; US-OTC: MRQFR) McKenzie Break project and have extended the deposit laterally and at depth. The best intercept from the project, 35 km north of Val-d’Or, Quebec, was 61.20 grams gold over 2.6 metres starting from 254.8 metres downhole, including 265 grams gold over 0.6 metres in drill hole MK-18-196. Other notable intercepts were 24.70 grams gold over 0.6 metres from 52.1 metre below surface in hole MK-18-183; 19.80 grams gold…

Canada’s mining sector at a crossroads — report

Canada's mining sector is going through dramatic change, but the industry remains bullish on growth, KPMG International's latest Global Mining Risk Report finds. While recent merger and acquisition transactions have raised concerns about the future of Canada's mining sector, domestic firms remain optimistic about growth opportunities. Canadian stock exchanges are the global leader in mining financings, and Canada continues to be a global hub for mining finance, KPMG reports. Heather Cheeseman, partner, energy and natural resources, KPMG Canada, believes the industry is at a “crossroads” in Canada. "Innovation and new…

Nemaska Lithium ‘reviewing strategic alternatives’ after budget blowout

Nemaska Lithium’s (TSX: NMX) board of directors has appointed a special committee to review all strategic alternatives, after the company disclosed this month that it has been forced to revise the budget for the Whabouchi lithium mine and Shawinigan electrochemical plant up by C$375 million. Nemaska, which has received funding from the Quebec provincial and Canadian federal governments, is building the Whabouchi hard rock lithium mine in the James Bay region and Shawinigan processing plant north of Montreal, aiming to put Canada on the global lithium production map. The special…

Saskatchewan best place to mine in Canada

The Fraser Institute has released its annual ranking of the best jurisdictions for mineral investment. Four of the top 10 places are Canadian provinces, with Saskatchewan in the lead with the No.3 spot. The institute released its Annual Survey of Mining Companies on Feb. 28, the 21st time it has compiled the rankings. Mining executives in 83 jurisdictions around the world weighed in on geological attractiveness and the extent to which government policies encourage or deter mining investment. The best places in Canada are Saskatchewan (No.3), Quebec (No.4), Yukon (No.9)…

ATAC planning phase one program for Rau

Vancouver-based ATAC Resources has laid out the first phase of its 2019 exploration program at the Rau project. Rau is located at the western end of the company’s Rackla property 55 km northeast of Keno City. Exploration will follow-up on high grade gold, copper and silver results from last year with ground geophysical surveys, prospecting, mapping, soil sampling, and drilling at priority targets. “The Rau project is an emerging 20 km long polymetallic district hosting numerous early stage precious and base metal targets, anchored by the demonstrated economics of our…

Jaxon discovers new mineralization at Red Springs

Jaxon Mining of Vancouver has discovered high grade antimony-silver mineralization on its flagship Red Springs (Hazelton) property in the northwest region of the province. Assays from the 2018 surface sampling and geological mapping program contained up to 5% antimony, 302 g/t silver, 2.94% zinc and 1.70% lead. These samples came from an area of more than 500 metres long and 200 metres wide. Jaxon is designing a multi-disciplinary exploration program to map the sources of the mineralization and extend the antimony-silver discovery area. A drilling program is planned to test…

Mining the moon ready to lift off by 2025

European scientists have announced plans to start mining the moon as early as 2025, though what they’ll be extracting is neither gold nor diamonds, but waste-free nuclear energy thought to be worth trillions of dollars. The goal is to place a lander on the lunar surface to mine and process regolith for water, oxygen, metals and an isotope called helium-3, which may prove useful for fueling future fusion reactors. Regolith, Universe Today reported, is a dust-like material that covers the lunar surface and is the result of billions of years…

ALX Uranium wants a piece of the Close Lake project in Saskatchewan

Canada's ALX Uranium (TSXV: AL) signed a non-binding letter of intent this week with Orano Canada, a subsidiary of France's Orano Group. The letter refers to the possible acquisition by ALX of a 51% participating interest in the Close Lake uranium project located in the eastern Athabasca Basin area of northern Saskatchewan. This is the same province that hosts the Hook-Carter project, where the Vancouver-based miner is carrying out a winter drilling campaign. Close Lake consists of 21 mineral claims totaling 38,679 hectares. The eastern boundary of the project adjoins…

Portofino executes agreement to acquire Yergo lithium project in Argentina

Canada’s Portofino Resources (TSXV: POR) (FSE: POT) executed an amended agreement this week with a private Argentine concession to acquire a 100% interest in the Yergo lithium project in the northwestern Catamarca province. The red dots indicate Portofino's lithium projects in Argentina. In a press release, Portofino said the 2,932-hectare project encompasses a full salar and is located approximately 30 kilometres south of the company’s 85%-owned Project II, where surface water and auger brine samples averaged 274 mg/l of lithium. The property is also 20 kilometres south-east of Neo Lithium’s…