Alaska was also active this year, with considerable activity focused on the Juneau gold belt where a number of mine projects are being developed toward production.
A unit of Cominco (TSE) continued exploration of its Pebble Beach copper-gold discovery 200 miles southwest of Anchorage. Earlier this year, the company said drilling carried out in 1990 suggested a preliminary reserve of about 200 million tons averaging 0.4% copper and 0.012 oz. gold per ton, which includes a higher-grade reserve of 50 million tons averaging 0.5% copper and 0.015 oz. gold.
Another high-profile Alaska project, the advanced Fort Knox gold deposit near Fairbanks, was sold to Amax Gold (NYSE) this year. A number of companies are exploring this historic mining region for similar bulk-tonnage targets, including junior Freegold Recovery (VSE) on its Golden Summit property. Elsewhere in the state, partners Cathedral Gold (TSE) and Pacific Sentinel are exploring a large land package optioned from a native corporation. This grassroots effort is focused on a variety of deposit types, including gold, gold-copper and massive sulphide targets.
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