COOPERATION AGREEMENT – Western Copper and Gold Corp. and the Selkirk First Nation Mar. 12 said Selkirk and Casino Mining Corp., a subsidiary of Western Copper, have entered into an initial agreement for cooperation in project assessment and other matters relating to the Casino copper-gold-silver-molybdenum project. Casino Mining President Paul West-Sells said. "I am pleased that we have accomplished this first step in our relationship with Selkirk and look forward to working together as we bring the Casino project forward.” A project proposal for Casino, which is located primarily within Selkirk’s traditional territory, was submitted to the Yukon Environmental and Socio-economic Assessment Board on Jan. 3. The agreement commits the parties to work cooperatively to review, evaluate and discuss the Casino project, provides for the establishment of a technical working group and lays the foundation for establishing future agreements and protocols relating to the project. Selkirk First Nation Chief Kevin McGinty said, “Our first concern is that this project should proceed in ways that are environmentally responsible. This agreement provides Selkirk with a central role in working with Casino management to ensure that the plans for this project meet Selkirk's expectations for environmental performance while also providing long-term economic and other benefits and opportunities for our First Nation and our citizens.”
TECHNICAL REPORT – Kaminak Gold Corp. March 12 reported the completion and filing of a NI 43-101 independent technical report for the company’s Coffee gold project in central Yukon Territory. The report was prepared by Sim Geological Inc. and Kappes Cassiday and Associates, following the guidelines of the Canadian Securities Administrators National Instrument 43-101 and Form 43-101F1. Titled “Mineral Resource Evaluation, Coffee Gold Project, Yukon, Canada,” the report can be viewed at www.sedar.com, and www.kaminak.com.
ENVIRONMENT – The Yukon Environmental and Economic Assessment Board, the environmental screening regulator in Yukon Territory, March 10 recommended approval of a proposed tungsten mine on the territory’s eastern border with Northwest Territories. North American Tungsten Mines Ltd. is seeking to build the Mactung underground mine at a projected cost exceeding C$350 million near the Macmillan Pass and North Canol Road north of the company’s existing Cantung mine located across the border in NWT. The assessment board said the mine will have significant negative effects on the environment but they can be mitigated under certain terms and conditions. The board’s recommendations cover a wide range of activities and include a strong focus on protecting water resources in the area.
FINANCE – Copper North Mining Corp. Mar. 10 reported plans to raise up to C$800,000 through the sale of up to 16 million units at C5 cents by means of a non-brokered private placement. Each unit will consist of one Copper North common share and one non-transferable warrant. Each warrant will entitle the holder to purchase one additional share at C7 cents for a period of 24 months from closing. Copper North intends to use the proceeds from the private placement to complete the review of the Carmacks copper project in south-central Yukon Territory and for general corporate purposes. Part of the review will include evaluating the potential to recover gold and silver in addition to the currently proposed copper production at Carmacks. Copper North said previous metallurgical studies indicate that the leached copper ores are amenable to cyanide leaching for gold and silver. The potential to recover the precious metals provides an opportunity to increase revenue during operations, improve project economics, and reduce the by-product cost of producing copper. The company also intends to explore additional, less dilutive opportunities for financing the development of the Carmacks project, perform a strategic review of the Redstone copper project in Northwest Territories, and evaluate opportunities to acquire advanced projects that it believes will create value for its shareholders.
DIRECTOR – Tarsis Resources Ltd. Mar. 10 reported the appointment of Jason Weber to its board of directors. Weber, a geologist with over 20 years of experience in the minerals exploration industry, most recently held the position of president and CEO of Kiska Metals Corp., an exploration company focused on the Whistler gold-copper porphyry project in Alaska. He served as president and CEO of Rimfire Minerals Corporation from 2007 to 2009 when Rimfire merged with Geoinformatics to create Kiska. He initially joined Rimfire in 1999 as manager of corporate communications. Prior to Rimfire, Weber was engaged by Equity Engineering as a project geologist working on projects in Canada and Central America. He also sits on the board of Clear Creek Resources Ltd. and has also worked on gold and copper projects in British Columbia and Australia. Tarsis President and CEO Marc Blythe said, “We are delighted to welcome Jason to our board of directors. His prior experience at the highly successful prospect generator Rimfire Minerals will be a great asset for Tarsis.”
