Mining News: Northern Neighbors

Northquest Ltd. Jan. 6 reported final results from its 2014 drill program at the Pistol Bay gold project in Nunavut. The best hole of the campaign cut 134.4 meters grading 1.36 grams per metric ton gold at the Vickers target. Twelve of the 13 drill holes completed at Vickers in 2014 intersected the gold zone. Northquest said this drilling extended the Vickers zone for 200 meters to the east of all previous drilling. The best hole at Vickers, previously reported, cut 221.7 meters averaging 1.65 g/t gold. The company also reported results from drilling at the Sako and Bazooka targets. For 2015, Northquest plans to complete infill drilling in the area of the 2014 holes at Vickers; as well as explore the zone for extensions to east and west.

Copper North Mining Corp. Jan. 5 reported that its 2014 exploration program at the Carmacks Copper Project in central Yukon Territory found copper-gold-silver mineralization in at least 15 zones, defining mineralized northeast-dipping shear structures that extend for at least 5,000 meters. The current proposed mining area – zones 1, 7, 7a and 4 – spans 600 meters of the main structure. Work last year consisted of geologic mapping, trenching, induced polarization and magnetic geophysical survey and diamond drilling and focused on expansion of the proposed mining area. Copper North says it plans to complete a larger program in 2015 aimed at expanding the mineral resource and extending the potential mine life at Carmacks.

CWN Mining Acquisition Corp. Jan. 5 said it has completed an option to acquire a 100 percent interest in the Top project, net of a 2 percent royalty reserved for YES Exploration. Top is a gold property situated about 200 kilometers (125 miles) northwest of Whitehorse, Yukon Territory. This constitutes CWN’s qualifying transaction as defined under TSX Venture Exchange policy. In concert, CWN raised C$4 million through a non-brokered private consisting of 8 million common shares at C50 cents per share.

- Compiled by Shane Lasley