Government of Yukon



FOR RELEASE
July 30, 2015

Minister Kent kicks off annual Yukon mineral exploration site tour

"The Yukon Geological Survey estimates there was $700 to 750 million in exploration spending from 2010 to 2014."


WHITEHORSE—Minister of Energy, Mines and Resources Scott Kent recently visited two of Yukon’s key mineral exploration projects.

“The Yukon government’s commitment to the mineral sector remains strong, and it is important to encourage exploration and investment so that Yukon is well-positioned when there is an upturn in the resource markets,” Kent said. “Exploration work identifies the mineral deposits that must be discovered before a company will develop a new mine.”

The Kaminak Gold Corporation’s Coffee Gold project south of Dawson was discovered in 2010, and Kaminak is conducting feasibility studies to determine the full potential of the site.

“Our feasibility stage Coffee Gold Project offers strong economics in the current resource climate and is on track to becoming an important Yukon gold producer in a few short years,” Kaminak Gold Corporation CEO Eira Thomas said. “The Yukon government recognizes the important contribution of mining to the local economy, and we welcomed the opportunity to host government representatives, including Minister Kent, this summer. Kaminak appreciates the Yukon government’s continued support and interest as we work to move our project forward through permitting and into development.”

Kent also visited Rockhaven Resources Ltd. at their Klaza Gold-Silver property located about 50 km west of Carmacks near Mount Nansen. Rockhaven’s exploration work has identified nine main mineralized zones since 2010.

The Yukon Geological Survey estimates there was $700 to 750 million in exploration spending from 2010 to 2014, with another $500 million invested in development during the same five-year period.

“Spending by exploration companies contributes to the well-being of many Yukon communities,” Kent added. “Local businesses supply groceries, fuel, and accommodation to exploration companies, and benefit from the increase in opportunities to provide engineering, geotechnical, environmental and financial services. I look forward to visiting more sites throughout the season.”

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Contact:

Elaine Schiman
Cabinet Communications
867-633-7961
elaine.schiman@gov.yk.ca

Sue Thomas
Communications, Energy, Mines and Resources
867-667-5809
sue.thomas@gov.yk.ca

 


News Release #15-237