Canadian Mining Journal


Yukon catches more majors’ eyes

Recent investments in the Yukon by Barrick Gold (TSX: ABX; NYSE: ABX), Newmont Mining(NYSE: NEM) and Agnico Eagle Mines (NYSE: AEM; TSX: AEM) underscore the allure of Canada’s Far North – where prospective ground and a bulletproof jurisdiction are proving a winning combination.

Barrick’s option agreement in April on ATAC Resources’ (TSXV: ATC; US-OTC: ATADF) Orion project, 100 km northeast of Keno City, follows Newmont’s investment in March in Goldstrike Resources’ (TSXV: GSR) Plateau project, 300 km east of Dawson City.

Those deals follow Agnico Eagle’s investment four months ago in White Gold (TSXV: WGO), which has staked more than 2,500 km2 in the Yukon’s White Gold district, and Goldcorp’s (TSX: G; NYSE: GG) $520-million acquisition in May 2016 of Kaminak Gold and its Coffee gold project, 130 km south of Dawson City.

The investments are consistent with the strategies of the major mining companies to partner with junior explorers and identify and develop mining districts with exploration potential that will grow their net asset value per share. Politically stable jurisdictions like the Yukon are even more attractive to majors seeking to add high quality ounces to their development pipelines.

Continue reading at The Northern Miner.