Polar Star and Newmont to Explore and Possibly Develop Montezuma Project

Polar Star Mining has entered into a joint-venture agreement with Newmont Ventures Ltd., a subsidiary of Newmont Mining, to explore and, if appropriate, develop Polar Star’s Montezuma copper project in the Antofagasta and Calama districts of northern Chile. A three-phase earn-in amounting to $20.5 million over a seven-year period will allow Newmont to own up to a 75% interest in the concessions. Newmont will act as the manager and operator of the joint venture.

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Ivanhoe Starts Underground Exploration at Kipushi

Ivanhoe Mines announced in mid-December that the company’s ongoing dewatering program at the previously mined Kipushi mine near Lumbumbashi in the Democratic Republic of the Congo is expected to complete dewatering to the bottom of the mine’s lowest level, at 1,270 m below surface, during the first quarter of 2014. 

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Seabridge Seeing Major Copper Potential at Deep Kerr

Results from Seabridge Gold’s 2013 drilling on the Deep Kerr zone at its 100% owned KSM project in northwest British Columbia, Canada, have dramatically changed the company’s thinking about the economic profile of the project. A year ago, Seabridge viewed KSM as an attractive, large-scale gold project with a robust copper credit. With the addition of 2013 Deep Kerr drill results, the company now believes KSM is equally a top-tier copper project, with grades that potentially invite comparison with the world’s largest and most profitable operating copper-gold mines.

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Brigus Extends Black Fox Orebody at Depth

The deepest intersection drilled to date at Brigus Gold’s Black Fox mine 75 km east of Timmins, Ontario, Canada, has intersected 40.71 g/mt gold over 26.75 m, including 103.20 g/mt gold over 8.35 m. The test hole was drilled from underground and intersected Black Fox mineralization at approximately 700 m vertical from surface, extending the mine’s west zone by an additional 300 m at depth. The orebody remains open for expansion laterally and at depth.

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