Alaska mining ramps up for 2011: access, power and pay dirt influence success.
Author | Lavrakas, Dimitra |
Position | MINING |
In Alaska, the one thing that can make a mine profitable or not is access--for some mines that's not a problem and it's historic. Other mines face uncertain economic feasibility, but for the blessed few with infrastructure, roads, power and plenty of pay dirt-the future is bright.
LIVENGOOD
While Livengood is the family name of the district's discoverer Jay Livengood, it does conjure letters written circa 1914 from a miner's cabin: "Dearest Mother, I am alive and good."
Once called "Alaska's Last Stampede," Livengood has been resurrected in the 21st century.
"It was fantastic, we're drilling some of the best grade," said Quentin Mai, in describing some of the 2010 drill results. Mai is vice president of corporate communications for International Tower Hill, a Vancouver, British Columbia-based company and 100 percent owner of the Livengood Gold Project. Looking to continued drilling this month, Mai is optimistic.
"We will be drilling in the Southwest Zone and seeking to further expand the deposit," Mai said.
Accessed by paved road 70 miles north of Fairbanks, the successful 2010 summer saw field investigations continue with seven drilling rigs on site. The work focused on drilling one hole in the center of four existing holes, called a five-spot, to reduce the drill spacing from 75 meters to 50 meters.
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"The five-spot improves our confidence in the gold resource," said Mai. Livengood sits pretty on the Tintina Gold Belt, a band of mineralization that stretches from Interior Alaska to the historic and still prolific Klondike goldfields in Canada's Yukon Territory and also wherein lies Fort Knox Mine and the Pogo Mine near Delta Junction.
LUCKY SHOT
Just 90 miles north of Anchorage in the Willow Creek Mining District, with good road and rail access, with a solid infrastructure and power, Lucky Shot could be sitting pretty. Or not.
In late November, Harmony Gold Corp. of Vancouver sold its interest to Full Metal Minerals, also in Vancouver.
"Basically we had optioned it out to Harmony Gold and they gave it back to us a month ago," said Rob McLeod, vice president of exploration for Full Metal Minerals, in early December.
McLeod said the company has no plans for the property or any information on if or when it will.
Over the past several years, Full Metal has explored three other prospects in the state: the Pyramid project on the Alaska Peninsula in the Port Moller Region, Fortymile near Chicken and Lucky Shot. It also has claims to all of the surrounding lands to the Pebble Deposit and in...
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