Nunavut Post

Sunday, December 5, 2021

In the Northwest Territories and Nunavut, who is looking for what?

Exploring on the Land

Key Takeaways:

  • Sabina is moving forward with pre-construction activities for the proposed Goose Mine, with work on the port facility and camp already underway.
  • Construction of a winter ice road and an exploration ramp at Umwelt are also on the agenda.

“For the 1st time at Back River, site operations will be year-round,” Sabina’s president and CEO, Bruce McLeod, stated in early November.

  • Project: Back River
  • Owner: Sabina Gold and Silver
  • Resource: Gold
  • Location: 364 km southwest of Cambridge Bay

Sabina announced on October 1 that it had raised $13.5 million in market capitalization. According to the company, the funds are required for exploration costs. According to the company, Back River’s total mineral estimate is 6.32 million ounces of measured and indicated gold and 2.86 million ounces of inferred gold.

An renewed feasibility study published in March estimated $2 billion in post-tax net cash flow on $7 billion in gross revenues over the mine’s 15-year life.

  • Project: Hood River, Ulu Gold
  • Owner: Blue Star Gold Corp.
  • Resource: Gold
  • Location: 125 km west of Bathurst Inlet

Blue Star’s 5,000-metre summer drill campaign of 25 holes garnered 11.06 g/t gold over 2.18 m from a spot in the Gnu zone that previously generated 52.7 g/t gold over two meters. Over 1.54 meters, another target produced 5.53 g/t gold. As of October 28, the results from another 18 holes were still pending.

“The continued strong results from the Gnu zone area drilling, which is only 750 meters from the Flood zone deposit, and the new realization that multiple near-surface high-grade gold zones may exist in this region are very encouraging,” CEO Grant Ewing said.

“Our technical group will continue to evaluate the program’s results as they become available over the next few weeks and update the geology models, which will lead to the prioritization of untested target zones in preparation for the next drill program.”

  • Project: Greyhound
  • Owner: Gold 79 Resources/Agnico Eagle
  • Resource: Gold/silver
  • Location: 40 km northeast of Baker Lake

Agnico Eagle is the operating partner on the 13.6-square-kilometer Greyhound property, located 32 kilometers south of Agnico Eagle’s Meadowbank gold mine. Gold 79 Resources, formerly known as Aura Resources, owns 37% of the company. Agnico Eagle was supposed to start a 1,100-metre, eight-hole drilling program in May, but no results had been released as of early November.

Source: NNSL News

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