Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
After completing 3,203 metres of drilling in November at Rockcliff Metals’ Laguna project in Snow Lake, Man., Kinross Gold has started another 5,000-8,000-metre program for 2020.
Highlights of the 2019 drill program include: 1.06 metres of 4.87 g/t gold; 0.84 metre of 11.8 g/t gold; 0.54 metre of 14.65 g/t gold; and 0.39 metre of 15.95 g/t gold.
The Laguna property hosts the historic Rex-Laguna mine – Manitoba’s first and highest-grade gold mine. Drilling has identified a new, high-grade narrow hangingwall quartz vein that lies above the mined Laguna quartz vein. The vein has been traced for 250 metres along strike to about 150 metres depth.
Kinross has an option to earn up to a 70% stake in the Laguna property and the Lucky Jack property to the south by spending C$5.5 million on exploration over six years.
This year’s drill program will test the new vein, the Laguna quartz vein, the Bingo vein and Kiski quartz vein system, and could include the Zona vein at Lucky Jack.
Separately, Rockcliff is planning 70,000 metres of drilling at its copper projects in Manitoba’s Flin Flon-Snow Lake greenstone belt this year.
(This article first appeared in the Canadian Mining Journal)
