Opportunities NORTH

Kiyuk Lake

Owner: Cache Exploration

Resource: Gold

Location: 350 km west of Arviat

Status: Kiyuk Lake comprises 70 mineral claims over 590 square km. The site’s mineralization trend covers a 13-km strike length and is open in all directions.

Baffin Gold

Owner: ValOre Metals Corp.

Resource: Gold

Location: 230 km southwest of Clyde River

Status: Baffin Gold has turned its attention to a platinum group metals property in Brazil.

A summer exploration program at Baffin Gold in 2018 gathered airborne data, 431 till samples and 31 rock geochemical samples. The survey work gave ValOre continuous airborne geophysical data covering 120 km of the prospective Foxe Fold Belt. The entire property sprawls over one million acres. Fieldwork in 2017 returned numerous high-grade gold assays.

Atlantis

Owner: Silver Range Resources

Resource: Gold

Location: 55 km northwest of Agnico Eagle’s Amaruq deposit

Status: “Silver Range considers the Atlantis Project to be highly prospective to host economic gold mineralization given the proximity of the project to the Meadowbank mine complex and the fact that the target is underlain by the same rock types hosting the Amaruq Deposit,” the company stated in a 2019 news release regarding the 78,500-acre Atlantis project.

Yandle, Noomut, Quartzite

Owner: Silver Range Resources

Resource: Gold

Location: 151 km northwest of Arviat, 149 km northwest of Arviat, 143 km north of Arviat, respectively

Status: Silver Range Resources disseminated news in November 2017 of the existence of a gold trend over three kilometres at Yandle. Grab samples gathered along the trend returned up to 15.1 grams of gold per tonne. Past grab samples at Noomut have shown values of up to 89 grams of gold per tonne while Quartzite grab samples have graded up to 27.3 grams of gold per tonne. The properties lie in the Ennadai-Rankin greenstone belt.

Owner: Silver Range Resources

Resource: Gold

Location: 182 km and 262 km southeast of Kugluktuk, respectively

Status: These two properties host nine documented gold showings. Up to 20 grams of gold per tonne over one metre were found in historical trench samples from the Grumpy site while Happy Thought historical samples have returned up to 13.44 grams of gold per tonne.

Muskox/Contwoyto/Hood

Owner: Benchmark Metals

Resource: Gold/diamonds

Location: 14 km southwest of the former Jericho diamond mine

Status: Benchmark Metals continues to focus on its properties in British Columbia.

The Muskox Project encompasses an enormous 600-squarekm. De Beers discovered the Muskox kimberlite in 1996 and the property has been explored by several companies.

Owner: Kaizen Discovery

Resource: Copper, silver

Location: 80 km south of Kugluktuk

Status: Kaizen Discovery has turned its attention to a property in Peru. There’s been no reported activity at Coppermine since public acknowledgment in 2016 that some of the company’s 3,500-square-kilometre property was identified in the draft Nunavut Land Use Plan as being under limitations or prohibitions relating to exploration and mining. The company’s website identifies the property as a possible sale option or joint venture opportunity.

Pistol Bay

Owner: Northquest Ltd.

Resource: Gold

Location: 35 km northwest of Whale Cove

Status: Nordgold announced in March that it would discontinue activity at Pistol Bay until 2023. The company more than doubled mineral resources at Pistol Bay in February 2020. Inferred open pit resources increased to 1.58 million ounces of gold at a grade of 2.2 grams of gold per tonne from the previous estimate of 739,000 ounces at 2.95 g/t. Pistol Bay is a vast property encompassing 860 square km.

Arcadia Bay

Owner: Transition Metals Corp./Nunavut Resources Corp.

Resource: Gold

Location: 153 km southeast of Kugluktuk

Status: The 26.5-square-km property, located in close proximity to the Coronation Gulf and the proposed Grays Bay road and port project, has a number of gold showings. However, Arcadia Bay didn’t even get a mention in Transition Metals’s 2019 year in review and shareholder update as other projects are at the forefront.

Kuulu

Owner: International Consolidated Uranium Inc.

Resource: Gold

Location: 40 km northwest of Rankin Inlet

Status: International Consolidated Uranium Inc. became a shareholder of Meliadine Gold Ltd. in January 2020. Work on the Kuulu property encountered delays due to an inability to renew the land-use agreement. “Both groups recognize the potential of the project but also that the path forward requires a patient and focused approach which the team at MGL is well equipped to undertake,” Glen Dickson, president and CEO of Meliadine Gold stated in January 2020. There have been no updates since.

Kiggavik

Owner: Areva

Resource: Uranium

Location: 80 km west of Baker Lake

Status: Areva suffered a major setback in July 2016 when the minister of Indigenous and Northern Affairs reinforced the Nunavut Impact Review Board’s decision to reject the Kiggavik project due to the lack of a date to begin mining. Areva expressed its disappointment after spending tens of millions of dollars and eight years advancing the project.

Mountain Lake

Owner: ISOEnergy Ltd.

Resource: Uranium

Location: 95 km west of Kugluktuk

Status: IsoEnergy established five claims in the Hornby Bay Basin in February 2017. Several companies have explored the Mountain Lake uranium deposit since the mid-1970s. The company has been concentrating on its properties in Saskatchewan.

Izok Corridor

Owner: MMG Resources

Resource: Zinc, lead, copper, silver, gold

Location: 260 km southeast of Kugluktuk

Status: Izok remains in care and maintenance status. The last work done at the property was in 2014. Izok has a mineral resource of 15 million tonnes of 2.3 per cent copper and 13 per cent zinc. The High Lake deposit, to the north of Izok, contains 2.5 per cent copper and 3.8 per cent zinc over 14 million tonnes.

Hackett River

Owner: Glencore

Resource: Silver, gold, copper, zinc, lead

Location: 355 km southeast of Kugluktuk

Status: Glencore has yet to submit a draft environmental impact statement for Hackett River. No drilling has been announced since 2013. Hackett River has 25 million tonnes of indicated resource containing 4.2 per cent zinc and 130 grams of silver per tonne. It also has 57 million tonnes of inferred resource with 3.0 per cent zinc and 100 grams of silver per tonne.

Haig Inlet Iron

Owner: Hemlo Explorers

Resource: Iron

Location: 22 km south of Sanikiluaq

Status: Hemlo Explorers’ 230-square-km property contains an indicated 230 million tonnes of 35.17 per cent iron and an inferred 289 million tonnes of 35.47 per cent iron, according to a mineral resource estimate. The company’s focus has been on its Ontario properties, however.