The mood was upbeat at the annual general meeting of the Alaska Miners Association, held here recently — and little wonder: Exploration and development expenditures in the state reached a new high in 1996.
Spurred by development projects such as Fort Knox and Illinois Creek, expansion at the Red Dog mine and the re-opening of the Greens Creek mine, the total gross value of mining in the state topped US$1 billion.
More than 450 members of the industry attended the meeting, including Placer Dome spokesman Stanley Dodd, who gave a talk on the Donlin Creek deposit in southwestern Alaska. In 1995, the company defined a resource of 3.6 million oz. gold there, and exploration is still in progress.
Randy Vance, spokesman for Newmont Exploration, talked about his company’s True North joint venture with La Teko Resources in the Fairbanks district.
According to unofficial estimates, the deposit could host more than 2 million oz. gold.
Among the other gold projects under discussion was Stone Boy, east of Fairbanks. Partners Sumitomo, WGM and the Metal Mining Agency of Japan describe Stone Boy as a deeply eroded analog of the nearby Fort Knox deposit.
More than 100,000 ft. of drilling were completed this year in the Fairbanks district, and, despite the cold weather, drills continue to turn on three projects. In all, more than US$7.4 million has been spent exploring the district this year.
Canada was well-represented at the meeting, with an entire session devoted to recent exploration in the Yukon.
Be the first to comment on "Miners mark banner year in 49th state"