Category Archives: diamonds
Shore Gold Inc. Announces Name Change to Star Diamond Corporation and New Trading Symbol
Stock Symbol: SGF: TSX
SASKATOON, Feb. 8, 2018 /CNW/ – Kenneth E. MacNeill, President and CEO of Shore Gold Inc. (“Shore” or the “Corporation”) is pleased to announce that Shore has changed its name to Star Diamond Corporation. Effective at the start of trading on February 12, 2018, Star Diamond Corporation will also commence trading on the Toronto Stock Exchange under this new name and a new stock symbol “DIAM“.
This new corporate name is in honour of the Star Kimberlite, located in the Fort à la Corne forest of Saskatchewan, Canada. It was the exploration and evaluation work completed on the Star Kimberlite that demonstrated the significant quality, size and value of the contained diamond populations. These high value diamonds facilitated the consolidation and advancement of the Corporation’s Fort à la Corne area kimberlites, including the Star – Orion South Diamond Project.
The name change does not affect the rights of the Corporation’s shareholders. No further action is required by existing shareholders with respect to the name change, and certificates representing common shares of Shore Gold Inc. will not need to be surrendered or exchanged unless a transfer is being requested. Shareholders had previously approved a special resolution to allow an amendment to the Articles of the Corporation to change the name of the Corporation at the Corporation’s 2017 Annual and Special Meeting of Shareholders.
Following this name change, Shore’s domain name will change to www.stardiamondcorp.com and visitors to our current website address and communication to our current electronic mail addresses will be redirected.
On behalf of the Board,
Kenneth E. MacNeill
President and CEO
SOURCE Shore Gold Inc.
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Exploration agreement aims to help junior mining companies in northern Sask. and Man.
Future of Creighton, Sask.’s main industry ‘up in the air,’ according to longtime Mayor Bruce Fidler
By Bridget Yard, CBC News Posted: Jan 31, 2018 6:00 PM CT Last Updated: Jan 31, 2018 6:00 PM CT
An agreement between the Saskatchewan and federal governments worth approximately $2 million will aim to help junior mining companies in their exploration of northern Saskatchewan and Manitoba.
The agreement was signed in December 2017.
The future of the mining camps near Creighton, Sask., which is approximately 430 kilometres northeast of Saskatoon, is “up in the air,” according to the town’s mayor.
“The forecast put out a year ago by Hudbay [Minerals] was that the 777 mine, the one in operation right now where they’re producing ore, is going to run out and shut down in three or four years,” said Bruce Fidler.
He estimates a shutdown would affect roughly 700 employees, who live for the most part in Creighton and Flin Flon, Man.
A processing plant in Flin Flon is still in operation, processing ore from a mine in Snow Lake.
“We’ve been hoping for some kind of program to come out for a couple years now, to assist the juniors in getting out there and doing exploration and drilling and finding another ore body that could save, or at least be, the next mine,” said Filder.
The agreement will fund an airborne survey of the Flin Flon and Creighton region, which is a well-known, “highly prospective” area.
Three mines are already in operation in the region. The 777 mine, near Flin Flon, mines zinc and copper, and smaller amounts of gold and silver. The Lalor mine in the Chisel Basin produces the same minerals.
Nearby Reed mine produces copper. Hudbay owns the majority of each mine.
“The challenge is actually identifying the deposits. This survey is going to be taking place and trying to see through rocks that actually cover the old volcanic rocks in Flin Flon you can see on the ground,” said University of Saskatchewan geology professor Kevin Ansdell.
While there are many kinds of geophysical surveys, the new agreement focuses on two, using both a helicopter and an airplane.
“The helicopter is flying over a piece of land and it’s emitting an electromagnetic current at low level,” said the head geologist on the project, Gary Delaney.
“That goes down into the ground and if there’s a conductive body, that will generate its own current.”
The conductive body could be indicative of a copper or zinc deposit.
Process will take years
Once a deposit is found, it is up to the mining companies to invest, explore further, and decide if a mine is economically viable.
Fidler hopes a new mine can be set up before the others dry up, in order to keep the existing zinc metallurgical plant and concentrator operating.
The town’s efforts have concentrated on economic development in recent months, to prepare for the loss of the mining sector. Creighton, Flin Flon, and Denare Beach have banded together to create a regional economic development committee.
A new economic development officer has been hired, and will start their role Feb. 1.
Download Deloitte’s full “Tracking the Trends” HERE
These are top-10 global mining trends expected for 2018
The most important one? Transitioning towards a “digital mine”
In the last 10 years, the mining industry has been on a roller-coaster, with commodity prices reaching both historic highs and lows, as well as operational realities shifting irrevocably in the face of a digital revolution. And companies better fasten their seat belts because those rapid changes are likely to continue and even accelerate this year, a study released by Deloitte on Wednesday says.
Phil Hopwood, Global Mining Leader at Deloitte and author of “Tracking the Trends” annual mining report, now in its 10th edition, told MINING.com that as several commodities appear to be at the onset of a bull run for the next 10 years, the sector will have to continue its transition to the digital mine of the future and anticipate future disruptors, including declining ore body grades, decreasing availability of tier one assets, and continued focus on shareholder returns.
Turning disruption into opportunity requires a long-term view capable of assessing how emerging market trends may affect the demand for specific commodities.
But turning disruption into opportunity requires a long-term view capable of assessing how emerging market trends may affect the demand for specific commodities, he says.
“Looking back just 20 years, it’d have been hard to believe that nickel, lithium, cobalt and graphite would be an affordable way to power batteries,” says Hopwood. “Today that is the reality and a potential growth opportunity, particularly with the emergence of electric vehicles.”
Asked whether the impressive gains in commodity and equity prices around the world in the lithium, cobalt and other “battery-making” metals sectors are a trend or just investment hype, Hopwood is quick to note that most new commodities result in an initial “plug”.
“There is no doubt excitement around those commodities. They are the key ingredients in batteries — and energy sources of the future – but I don’t think the hype around needing better quality nickel is ‘hype’ at all; it’s integral. Laterite nickel pig iron (NPI) is simply not as good as nickel sulfide for use in batteries; but of course it’s the cheaper option. The problem is, you can’t substitute for good quality nickel and expect quality results,” he says.
The same goes for lithium, Hopwood adds. “The bottom line is that what we need to focus on is the fundamentals and ask more pressing questions, like how to get the resources out of the ground effectively to meet supply.”
To thrive in the mining industry’s historical boom and bust cycle and capitalize on new opportunities, he says, companies must rethink the traditional mining model.
“I see mining really making changes in terms of adopting digital technology and innovative thinking – though still at an early stage for some.”
He notes that some big names in the industry, such as BHP, are really focusing on diversity and inclusion in the workplace. As revealed in Deloitte Canada’s recent report on Inclusion – inclusive companies deliver better financial results.
Mining companies are also moving to being more visible and transparent in their reporting, Hopwood says.
“They are out there talking about the work they do with communities and their commitments. They are publishing papers and trying to improve their reputation(s) by publishing POVs and reports on where the industry should be heading. They now understand that they have a responsibility to play an integral role in the “image” of mining,” he notes.
While there is still more that can be done, the expert believes the wheels are in motion and that the industry is moving in the right direction.
Download Deloitte’s full “Tracking the Trends” HERE
Star-Orion South Diamond Project – Sonic Overburden Drilling Completed
Stock Symbol: SGF: TSX
SASKATOON, Jan. 8, 2017 /CNW/ – George H. Read, P. Geo., Senior Vice President Exploration and Development of Shore Gold Inc. (“Shore” or the “Company”) is pleased to announce that Shore and Rio Tinto Exploration Canada Inc. (“RTEC”) have completed a Sonic overburden drilling program, consisting of ten holes and some 1,205.5 metres of drilling (Table 1), on the Star Kimberlite. This geotechnical investigation of the overburden was completed, in close proximity (1.5 metres) to the core drilling, by Boart Longyear Inc., utilizing a Sonic drill rig. Detailed geotechnical logging of the core collected by the Sonic rig has been completed by Clifton Associates Ltd. The ten hole locations are in close proximity (10 to 15 metres) to previously collected underground bulk samples and past 48 inch large diameter drill (“LDD”) holes and include areas of significant intersections (80 – 110 metres) of the Early Joli Fou (“EJF”) Kimberlite, the principal economic unit of the Indicated Resources previously estimated by Shore for the Star Kimberlite in December 2015.
Table 1: Summary of Sonic Overburden Drilling
|Hole ID||Hole Depth (m)|
Senior Vice President Exploration and Development, George Read, states: “This Sonic drilling investigation of the overburden above the kimberlite is an important precursor to a proposed mini-bulk sample drilling program scheduled to commence in 2018. The Sonic drill hole locations are in close proximity to the core holes, which will act as pilot holes for the upcoming program.”
The Star-Orion South Diamond Project is located in central Saskatchewan some 60 kilometres east of the city of Prince Albert. The Project is in close proximity to established infrastructure, including paved highways and the electrical power grid, which provide significant advantages for future mine development. The Technical Report on the Revised Resource Estimate for the Star – Orion South Diamond Project dated November 9, 2015 provided an updated Mineral Resource Estimate for the Star and Orion South kimberlite deposits: Indicated Mineral Resources of 393 million tonnes containing 55.4 million carats of diamonds at a weighted average price of US$210 per carat. In addition to the Indicated Mineral Resource Estimate, the Star and Orion South Kimberlites include Inferred Resources containing 11.5 million carats. Shore has granted RTEC an option to earn up to a 60% interest in the Fort à la Corne mineral properties (including the Project) on the terms and conditions contained in the Option Agreement (see SGF News Release dated June 23, 2017). Completion of the proposed 2018 sampling program (First Option) does not entitle RTEC to an interest in the Fort à la Corne mineral properties (including the Project).
All technical information in this press release has been prepared under the supervision of George Read, Senior Vice-President of Exploration and Development, Professional Geoscientist in the Provinces of Saskatchewan and British Columbia, and Mark Shimell, Project Manager, Professional Geoscientist in the Province of Saskatchewan, who are the Company’s “Qualified Persons” under the definition of NI 43-101.
Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Exchange under the trading symbol “SGF”.
Caution Regarding Forward-Looking Statements
This news release contains forward-looking statements as defined by certain securities laws, including the “safe harbour” provisions of Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “forecast”, “target”, “project”, “guidance”, “may”, “will”, “should”, “could”, “estimate”, “predict” or similar words suggesting future outcomes or language suggesting an outlook. In particular, statements regarding Shore’s future operations, future exploration and development activities or other development plans constitute forward-looking statements. By their nature, statements referring to mineral reserves, mineral resources or TFFE constitute forward-looking statements.
Forward-looking statements in this press release include, but are not limited to statements with respect to the geotechnical investigations and Shore and RTEC’s objectives for the ensuing year, including the proposed 2018 sampling program.
These forward-looking statements are based on Shore’s current beliefs as well as assumptions made by and information currently available to it and involve inherent risks and uncertainties, both general and specific.
Risks exist that forward-looking statements will not be achieved due to a number of factors including, but not limited to, developments in world diamond markets, changes in diamond prices, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of Shore or its joint venture partners, the effects of competition in the markets in which Shore operates, the impact of changes in the laws and regulations regulating mining exploration, development, closure, judicial or regulatory judgments and legal proceedings, operational and infrastructure risks and the additional risks described in Shore’s most recently filed Annual Information Form, annual and interim MD&A. Shore’s anticipation of and success in managing the foregoing risks could cause actual results to differ materially from what is anticipated in such forward-looking statements.
Although management considers the assumptions contained in forward-looking statements to be reasonable based on information currently available to it, those assumptions may prove to be incorrect. When making decisions with respect to Shore, investors and others should not place undue reliance on these statements and should carefully consider the foregoing factors and other uncertainties and potential events. Unless required by applicable securities law, Shore does not undertake to update any forward-looking statement that is made herein.
SOURCE Shore Gold Inc.
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‘Eco-colonialism’: Rift grows between Indigenous leaders and green activists
Indigenous communities say they’ve had enough of activists invading their lands, misleading them about their agendas and using hard-line tactics against those who don’t agree
With flowing long hair, stoic expression and tribal garb, Martin Louie, the hereditary chief of the Nadleh Whut’en First Nation in north-central British Columbia, more than looked and acted the part of an aggrieved leader in the epic fight against the Northern Gateway oilsands pipeline.
He was quoted in the campaign’s news releases, filed complaints to the United Nations and spoke defiantly to investors. Environmental group Stand.earth even described him as the “poster boy” for Indigenous opposition to Enbridge Inc.’s pipeline.
The $7-billion pipeline was eventually cancelled last year, but Louie didn’t actually want to sink the project. Lost in the heat of the public battle was that he really just wanted to win more money for his impoverished community than the “ridiculous” $70,000 a year being offered by the company.
Louie’s experience is indicative of a widening rift between Indigenous communities and activists over natural resources, particularly in British Columbia, the focal point of major green campaigns generously funded by U.S. interests to thwart oil and gas exports.
The campaigns consistently portray a united Indigenous anti-development front and allies of the green movement, but some Indigenous leaders are becoming alarmed that they could be permanently frozen out of the mainstream economy if resource projects don’t go ahead.
They said in interviews they’ve had enough of activists invading their lands, misleading them about their agendas, recruiting token members to front their causes, sowing mistrust and conflict, and using hard-line tactics against those who don’t agree.
“The best way to describe it is eco-colonialism,” said Ken Brown, a former chief of the Klahoose First Nation in southwestern B.C. “You are seeing a very pervasive awakening among these First Nations leaders about what is going on in the environmental community.”
For instance, Louie is now one of the leaders of the proposed $17-billion Eagle Spirit pipeline, a Northern Gateway alternative championed by First Nations.
“When I went after Enbridge we were trying to gain more benefits for major projects going through our country,” he said.
Word soon got out about his differences with Enbridge and he was approached by a handful of lawyers representing green organizations who promised him assistance and funding, Louie recalled.
Their partnership ended bitterly because the two sides had conflicting objectives. He wanted better benefits; the activists wanted the project to fail.
The eventual failure of Northern Gateway was just one of a series of tipping points in recent months that worry some Indigenous leaders.
There was also the demise of Pacific NorthWest LNG and Aurora LNG, as well as the continuing challenges faced by the Trans Mountain pipeline expansion and other proposed LNG projects. These cancellations and obstacles are celebrated by activists, but also wiped out jobs and revenue for First Nations.
Eagle Spirit also faces difficulties. Led by Indigenous lawyer Calvin Helin and supported by First Nations along the proposed route through northern B.C., the project will collapse if the federal government goes ahead with a tanker ban that is making its way through Parliament.
The ban is related to the Great Bear Rainforest, which was created by the B.C. government last year to conserve a big part of the province’s northern and central coast.
Both initiatives are seen by greens as big achievements, but are disputed by First Nations such as the Lax Kw’alaams, who said they were advanced without proper consultation and prevent their members from making a living.
Brown’s experience with environmental activism started about a decade ago, when he was chief of his tribe and supported two run-of-river hydro projects.
The projects were attacked by groups such as Save Our Rivers and Western Canada Wilderness Committee for being harmful to fish habitat, and Brown’s band was criticized for being “sellouts and socially irresponsible people looking for the quick buck,” he said.
“What an onslaught it was. There was a high level of participation from people who had never been to the region … and they were all conveying the same narrative: ‘The sky is falling, keep your blood money, corporations are evil.’”
Brown, who now runs a consulting company, said similar tactics are used against other projects, too.
“If First Nations communities are willing to conform to the prescribed eco-narratives, they are going to get all kinds of accolades and praise, but if they don’t conform, it’s vitriolic hit pieces on these people,” he said.
Louie is still shaken by the backlash he experienced. After complaining to activists they were only using him to advance their cause, he said he was blackballed.
“Workers were spreading the word that I am not a good man, that I am there to ruin the environment, that I am making money on my own,” he said. “They were making me sound like I am taking millions from a lot of people. If I was in that position, I wouldn’t be struggling to pay for my car payments.”
Louie said he joined the Eagle Spirit project to achieve what he couldn’t with Northern Gateway: help his tribe become economically self-reliant.
Environmental organizations and Indigenous communities in recent years have found common cause in opposing some projects and in fighting the impacts of capitalism on the environment, said Dwight Newman, Canada research chair in Indigenous rights at the University of Saskatchewan.
A big reason is that Indigenous people have unique legal rights and by working with them, green groups are better able to block developments than if they relied on environmental grounds alone, he said.
Section 35 of Canada’s constitution states the Crown has a duty to consult with First Nations, Inuit and Métis communities and, where it anticipates adverse impacts, to accommodate to the extent reasonably possible.
So far, the law has been used against development, but one of the unknowns is whether Indigenous communities will use it to pursue economic development and override the environmental laws that block projects such as Eagle Spirit, Newman said.
“At some point, these arguments will end up in the courts, either directly as rights claims or as claims that there ought to have been consultation on potential effects on such rights,” Newman said in an article for the Macdonald-Laurier Institute, where he is a senior fellow.
“And the very presence of these arguments will overturn the expectations of many who think they have liberal views, but actually have ongoing paternalistic views that assume First Nations always need protection from development.”
Many conservation campaigns rely on U.S. funds because there is more money available there due to tax laws and an abundance of wealthy philanthropists.
Vancouver-based researcher and blogger Vivian Krause has tallied the large sums poured by U.S. groups to fight pipelines and gas projects in Canada by analyzing tax filings.
The biggest funder has been the Gordon and Betty Moore Foundation, which has granted more than $190 million to First Nations, environmental and other organizations working in B.C., Krause said.
The top recipient of funds from the Moore Foundation is Tides Canada, which received at least $70 million, she said. Tides Canada spends that money internally and re-grants it to other groups, particularly First Nations organizations.
Other big U.S.-based funders are the Rockefeller Brothers Fund, the William and Flora Hewlett Foundation and Pew Charitable Trusts.
“These American interests are trying to stop these projects any way they can, and one of the best ways is by leveraging the constitutional rights of First Nations in the courts,” Krause said.
The former United Nations worker said she pursued the research because of pleas for help from Indigenous leaders “who want jobs and social and economic prosperity (and) are sick and tired of what they call the paid protesters.”
One of those leaders is Gary Alexcee, a hereditary chief of the Nisga’a Nation near Alaska, and a member of Eagle Spirit’s Chiefs Council. He’s disappointed the federal government is giving more weight to environmentalists than to the needs of Indigenous communities.
“We were totally taken aback and surprised by the announcement of this tanker ban because of the government’s statement that they were going to include First Nations,” he said. “No one got consulted.”
Eagle Spirit would create jobs and opportunities “that people never had” in a region where other industries such as fishing, forestry and eco-tourism are doing badly, he said.
Alexcee, 70, said many in his community don’t support green campaigns. He said activists have come to the region in big numbers and picked “token” members to advance their causes.
Relations between activists and Indigenous people got really ugly in nearby Prince Rupert, in the territory of the Lax Kw’alaams.
The community was initially opposed to a liquefied natural gas project proposed by a consortium led by Malaysia’s Petronas because of its location on Lelu Island, which they believed would threaten juvenile salmon.
They became supporters after negotiating bigger benefits and getting the project to re-locate.
But a small group of opponents continued to protest. Their frontman was Donnie Wesley, who claimed to be a hereditary chief and led an occupation of the site. That opened the door for activists to come in and offer band members funds and assistance to defeat a high-profile target, said Mayor John Helin.
Dozens of “professional protesters” travelled to the area from as far away as California with funding from groups such as SkeenaWild Conservation Trust, which, in turn, was getting money from Tides and the Moore Foundation.
“More or less, they called me a traitor,” Helin said.
Petronas pulled the plug on the $36-billion venture this summer, which meant $2 billion in benefits over 40 years for the band were lost.
The Lax Kw’alaams chided Wesley for misrepresenting himself as a hereditary leader. The dispute over who represented the community ended up in court. Wesley lost and is appealing.
Greg Knox, executive director of Terrace, B.C.-based SkeenaWild, said there is a wide range of perspectives in Indigenous communities and while some may feel they lost opportunity when Petronas cancelled its LNG project, others were relieved because salmon were no longer threatened.
“This project was proposed for a terrible location,” Knox said. Many other LNG projects were also proposed, but “this was the only one that people were concerned about and there was big opposition to.”
His group also campaigned against Northern Gateway and supports the tanker ban, he said, but doesn’t have a position on Eagle Spirit yet because it doesn’t have enough information.
Stand.earth brags on its website that it has delayed or stopped 21 “dirty oil pipelines and train projects.” But it relied on Will George, a member of the Tsleil-Waututh First Nation, to confront Kinder Morgan Canada chief executive Ian Anderson at a recent Vancouver Board of Trade event promoting the $7.4-billion expansion of the Trans Mountain pipeline.
“I do not welcome you onto my territory. You are not welcome on my lands, and you certainly cannot be doing business here without Tsleil-Waututh consent,” George said, according to a statement distributed by the group.
“It’s really Indigenous nations protecting their land that allows us to win these fights,” said Stand.earth campaigner Hailey Zacks, noting 150 First Nations in Canada and the U.S. are opposed to the project.
For its part, Kinder Morgan said 42 directly impacted Indigenous communities are supportive of the pipeline expansion and have signed benefits agreements.
Zacks couldn’t speak to that, but said, “What I do know is that the communities that I work with are willing to do whatever it takes to stop it.”
Haida Gwaii is one community known as a hostile place for development of all kinds — and for those who dare to promote it.
Hereditary chief Ray Jones, 66, was harshly castigated for doing consulting work for Northern Gateway, which would have included tankers sailing to and from Asia, potentially impacting the island.
A former captain in the fishing industry with intimate knowledge of the coast, the 66-year-old said he supported the shipment of oil and gas and any other work that promised desperately needed employment.
His contract job with Enbridge involved building communications between the island community and the company, he said.
But Jones was up against powerful forces. Haida Gwaii’s leadership worked closely with activists, he said, “a whole pile of them,” particularly from the David Suzuki Foundation, visited the area regularly and influenced the local population.
The foundation did not respond to an interview request.
The community was so close-minded about getting an alternative point of view, few even asked him what his job with Enbridge involved, Jones said.
“Everybody said they hated me for working for Enbridge, you are the enemy, you are a traitor,” he said. “I have two sisters who don’t talk to me. I have had people call me the village clown, a lot of derogatory things. I’ve had my tires slashed, I’ve had somebody key my car. It’s ugly.”
The same attitude has killed other jobs, pushing young people away and leaving the rest with nothing to improve their lot, he said.
“I always tell my grand children, get a damn good education because I don’t know what you kids are in for in your life,” Jones said. “We lived in a good time.”
Rio Tinto currently have 4 positions posted for their Saskatoon location. This is pointing towards movement in diamonds and/or uranium and/or potash.
Here are the posted positions:
Diamond & Specialty Minerals Summary for Dec. 11, 2017
by Will Purcell
Ken MacNeill and George Read’s Shore Gold Inc. (SGF) spun its treadmill again today, dropping one-half cent to 16 cents on 408,000 shares. The company had officially been maintaining a silence regarding its Star-Orion South diamond project in central Saskatchewan, but it made a presentation last week to the Diamond Development Advisory Committee (DDAC), which met in Melfort. (The committee, which includes representatives of communities and First Nations groups near the project, was established by Shore Gold at the height of its promotion several years ago, but there has not been much need for advice for the past few years.) The new meeting of the DDAC is the result of Shore Gold having granted Rio Tinto an option to earn a 60-per-cent interest in the project, in exchange for $70.5-million in new work, including drilling and a feasibility study.
Shore Gold’s new presentation — 26 slides accompanied by Mr. Read’s eternal optimism — was for the most part a reminder of Shore’s effort over the past two decades; most of which occurred in the mid-2000s. Nevertheless, there were a few dollops of new information that confirm Rio Tinto’s intent to diligently recheck the work previously completed by Shore Gold a decade ago, which culminated in a 2011 feasibility study.
Rio Tinto has already begun the first phase of its four-phase program, an $18.5-million effort that will not give it an interest in the project, but which will hopefully provide confidence to proceed with a second phase, another $18.5-million drill program that will give it 51 per cent of the Fort a la Corne project. (Star and Orion South are but two of several huge kimberlites on the property, although they are the ones with the best shot of becoming a mine.)
Rio Tinto and Shore have wrapped up a 10-hole core drilling program that began in mid-October. The holes were described as “geotechnical investigations on the Star kimberlite,” but they are also pilot holes for their much larger bulk sampling program next year. While Shore never revealed the sites selected for the new bulk sampling, the company’s DDAC presentation shows the locations clearly. Seven of the 10 sites are within or on the perimeter of Shore Gold’s underground bulk sampling workings, while the other three are twins — or at least close siblings — to large-diameter bulk sampling holes that Shore drilled after its underground sampling.
Shore Gold’s latest resource estimate for Star, 193 million tonnes indicated at 15 carats per hundred tonnes (cpht) and 57 million tonnes inferred at 11 cpht, have rosier grades than the company’s raw bulk sampling data. Shore averaged 14.5 cpht across 75,400 tonnes of kimberlite mined from underground at Star, and just 7.1 cpht across 16,200 “theoretical tonnes” of kimberlite excavated by drilling. The grade variation is the big question facing Shore’s new partner and it was also a big reason that its previous partner, Newmont Mining Corp. (NEM: $34.67 (U.S.)) quit paying its share of the costs in 2009.
Mr. Read, Shore’s tireless senior vice-president of exploration, says that the large diameter drilling “can be an aggressive sampling method resulting in some diamond loss and breakage,” so he had the drilling grades “reconciled” with the underground grades using diamond size frequency curves. Mr. Read may be right; but Rio Tinto is clearly willing to spend nearly $20-million on its first phase of drilling to find out.
As Brad Wall posted on Facebook . . .
Quebec is cutting income taxes, sending cheques to parents, and will balance their budget.
Wondering where they got the money?
This year, Quebec is receiving $11.7 BILLION in equalization, which makes up 11% of their total revenue. That’s $650 MILLION more than last year.
Saskatchewan taxpayers are contributing $580 million to equalization just this year and again receive ZERO dollars in equalization as our finances struggle with the challenge of stubbornly low commodity prices.
Something isn’t right.
Monday, December 4, 2017
FOR IMMEDIATE RELEASE
Regina: The Saskatchewan Mining Association (SMA) is supportive of the Government of Saskatchewan’s Climate Change Plan which was released earlier today. While the Saskatchewan Plan has a lower emissions threshold than the Federal Climate Change Plan, the sector-based, multi-faceted approach will ensure the ‘Made in Saskatchewan Plan’ is effective in reducing GHG emissions while ensuring the sustainability of Saskatchewan communities.
As Canada transitions to a low-carbon economy, the Saskatchewan Climate Change Plan features flexible compliance mechanisms, including adoption of innovative and best in class technology that will allow mining to continue to be a pillar of Saskatchewan’s economy while continuing to provide clean energy and food to the world.
The Saskatchewan mining sector is particularly sensitive to a price on carbon as it represents an additional direct cost for producers that international competitors aren’t paying. “Ensuring the mining sector remains globally competitive is vitally important to Saskatchewan, particularly in this period of low commodity prices,” said Pam Schwann, SMA President. “We need to be mindful that, as we work to reduce GHG emissions, mining investments and jobs are not being exported to other international jurisdictions that don’t have the robust environment and safety regulatory framework that exists in Saskatchewan and Canada.”
Saskatchewan’s mining operations account for 3% of provincial GHG emissions. “Our members are committed to bringing our expertise to the table and working with the province to reduce GHG emissions from the mining sector.” said Schwann.
Saskatchewan Mining Association is an industry-driven organization representing the mining and mineral exploration industry with over 25 mining operations in the province.
SMA advocates on behalf of members on issues related to provincial and federal regulatory changes, develops and supports educational outreach programs, organizes and hosts public outreach and membership events. Please visit http://saskmining.ca/
For more information please contact:
Pam Schwann, P. Geo, MSc
President, Saskatchewan Mining Association; (306) 757-9505