A Gold Rush in the Yukon
Majors are placing their bets on the next “Big Discovery”
Featuring Triumph Gold – Freegold project, Yukon
There’s a gold rush in the Yukon and the major mining companies are investing heavily in juniors resource companies in that area.
- GoldCorp buys Kaminak Coffee Creek project for $520MM in 2016
- GoldCorp buys 19.9% of Independence Gold for $2MM June 2016
- GoldCorp buys 19.9% of Triumph Gold Corp for $6.3MM March 2017
- GoldCorp buys 19.9% of Arcus Development Group for $1.1MM Oct. 2016
- Couer Mining buys 9.9% of Rockhaven Resource’s for $2,675,000 June 2017
- Newmont completes investment agreement with Goldstrike Resources for $53MM in 2017
- Barrick buys 19.9% of ATAC resources for $8.3MM as well as investment agreement of $55MM for JV option in 2017
- Agnico Eagle buys 19.9% of White Gold Corp. for $10.0MM in March 2017 and Kinross takes a 19.9% stake for properties.
- GoldCorp buys 19.9% of Triumph Gold for $6.3MM March 2017
The majors are placing their bets that one or more of these junior companies will become a major gold producer and they want to have their foot in the door when that happens.
The Yukon has excellent infrastructure for the junior mining companies. Water, power, good road access and a government that strongly supports the mining industry.
iResource Network will continue to follow the juniors in the Yukon as we expect there will be plenty of news coming from there throughout 2018.
Triumph Gold’s Freegold Mountain project is located in the Dawson Range and covers a highly prospective section of the Big Creek fault zone. The project is endowed with three significant mineral deposits. This includes the Nucleus Au deposit, the Revenue Cu-Au-Mo-Ag deposit and the Tinta Hill poly-metallic vein system, as well as numerous other gold showings.
It appears that another Yukon gold rush is taking place where the mining majors are investing very serious money into several select junior mining companies in the area. Gold Corp recently invested $6.3M in Triumph Gold for 19.9% interest in the company. This funding will give Triumph Gold a good opportunity to show whether their Freegold project can live up to the expectations of Gold Corp.
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