Eight Active Juniors on Canada’s East Coast

Atlantic Canada’s mineral riches have enticed mineral explorers since before Confederation. The following are eight such junior explorers and developers carrying on the tradition.

Anaconda Mining

Toronto-based Anaconda Mining (TSX: ANX) has just closed a $2 million flow-through financing, and plans to direct the funds towards  surface exploration on targets located within processing distance of the company’s Pine Cove mill in Newfoundland — namely the Stog’er Tight, Goldenville, Argyle and Viking targets.

Anaconda’s flagship asset is its Point Rousse gold project, which includes the Pine Cove mill, located on 63 sq. km of ground on the Ming’s Bight Peninsula in Newfoundland’s Baie Verte mining district.

Canadian Zinc

Canadian Zinc (TSX: CZN) is best known for advancing the restoration of its 100%-owned Prairie Creek zinc mine in the Mackenzie Mountains of the Northwest Territories. But the Toronto-based junior also took an opportunity during the last downturn in base metal prices to acquire Paragon Minerals in 2012 and its prospective base and precious metals properties in Central Newfoundland, including the South Tally Pond project. In 2013, Canadian Zinc added to its Newfoundland base metal portfolio by acquiring Messina Minerals and its Tulks South and Long Lake projects.

Spinning mills at Rambler Metals & Mining’s Ming copper-gold mine in Newfoundland.  Credit: Rambler Metals & Mining.

Globex Mining Enterprises

Jack Stoch’s Globex Mining Enterprises (TSX: GMX) has been a fixture of the Quebec mining scene for decades, but the company is also active elsewhere in North America, including New Brunswick and Nova Scotia, and recently closed a $528,000 private placement. Globex’s most recent activity in the Maritimes includes an option agreement with Sunset Cove Mining (TSXV: SSM) regarding Globex’s wholly owned Houlton Woodstock manganese property in New Brunswick’s Carleton County, and staking 40 lithium-gold claims covering a strike length of 10 km in Nova Scotia’s Guysborough County, 200 km northeast of Halifax.

A sulphide flotation recovery cell at Trevali Mining’s Caribou zinc mine in northern New Brunswick. Credit: Trevali Mining.

New Millennium Iron

Junior New Millennium Iron (TSX: NML) has been weathering the downturn in iron ore prices as it hangs on to its core assets in the 210-km long Millennium Iron Range in the famed Labrador Trough, with the LabMag deposit in Labrador and KéMag deposit in Quebec. New Millennium describes these resources as featuring taconite ore similar to that mined in the Mesabi Range in Minnesota — a mainstay of supply to the North American steel industry since the mid-1950s.

Rambler Metals & Mining

The U.K.’s Rambler Metals & Mining (TSXV: RAB; LSE-AIM: RMM) has crossed the Atlantic in its goal to become a mid-tier mining company through production from the Ming copper-gold mine in Newfoundland’s Baie Verte mineral district, as well through grassroots exploration and potential mergers and acquisitions. Ming had been a former underground copper and gold producing mine that ceased production when the deposit reached a property boundary. Ownership of the properties was subsequently consolidated and brought into Rambler’s portfolio.

Trevali Mines

From its home office in Vancouver, Trevali Mines has been riding the excitement that’s re-entered the zinc space, and its stock is hitting new 52-week highs. Its cornerstone assets are two producing zinc-lead-silver mines: its 2,000-tonne-per-day Santander mine in Peru; and its 3,000-tonne-per-day Caribou mine in northern New Brunswick’s iconic Bathurst camp. Trevali also owns the Halfmile and Stratmat base metal deposits in New Brunswick, which are currently the subjects of a preliminary economic assessment.

Winston Resources

Newly created micro-cap Winston Resources (CNSX: WRW) has been formed in Toronto to focus on developing its 100% owned Elmtree gold project in New Brunswick. Winston also owns an investment portfolio of affiliated CNSX stocks, most notably Hadley Mining (CNSX: HM) and Zara Resources (CNSX: ZRI). Winston’s subsidiary CNRP Mining bought Elmtree in June 2012 for $7.7 million, with the project having an indicated and inferred gold resource of 294,000 oz. — a figure Winston would like to expand through additional drilling and then a prefeasibility study for an open pit mine.

Wolfden Resources

Aside from its nickel-copper deposit in Manitoba, Ewan Downie-led Wolfden Resources (TSXV: WLF) holds the underexplored Clarence Stream gold-antimony deposit in southern New Brunswik, which hosts 500,000 oz. gold grading 6.5 grams gold per tonne, as well as the 200 sq. km Tetagouche property in the Bathurst camp which contains five historical lead-zinc-silver base-metal deposits with exploration upside. Wolfden topped up its coffers with a $357,000 private placement in May, and has earmarked the funds primarily for more work at Clarence Stream.