Ontario Invests $3.5 Million in Mass Timber Manufacturer 

In July, the Ontario government announced an investment of $3.46 million in mass timber manufacturer Element5 to help the expand its operations. The company is Ontario’s first certified manufacturer of cross-laminated timber, part of the fast-growing field of advanced wood construction, which builds faster and more efficiently than traditional building materials.

This funding will more than triple the company’s production, creating 32 new jobs, increasing revenue by more than 300% and boosting export sales by nearly 600%.

“With more space and new equipment, Element5 will be able to meet growing demand for their high-quality products and get more building projects done quickly and efficiently,” said the Honorable Graydon Smith, Minister of Natural Resources. “This company is an advanced wood construction success story, powering growth and development across Ontario, Canada, and the US.”

Advanced wood construction assembles building materials off-site before installation, reducing onsite disruption, completing projects up to 50% faster, and reducing costs by up to 20%. Advanced wood construction also offers environmental benefits, by using wood as a sustainable alternative to traditional building materials, while supporting the forestry sector.

The investment is part of a provincial action plan designed to expand wood construction in Ontario. The Advanced Wood Construction Action Plan positions Ontario to lead the fast-growing sector by using more wood in the construction of mid-rise and tall multi-family residential, commercial, and industrial buildings: creating forest sector opportunity by diversifying and growing demand for sustainably-harvested wood.

“With our sustainably managed forests, forest sector expertise and access to key export markets, Ontario has a unique advantage in wood construction,” said the Honorable Nolan Quinn, Associate Minister of Forestry. “Our government’s action plan will use that advantage to expand the forest sector, create jobs and grow communities by building homes and businesses faster.”

The Advanced Wood Construction Action Plan is available for public review and comment on the Environmental Registry, ending on October 1.

The investment in Element5 and the release of the draft action plan advances Ontario’s forest sector strategy goals – including increasing wood use and growing markets – by making more pre-manufactured building materials available to support faster construction across the province.

Ontario Invests $6 Million into Forest Access Road Construction and Repair

The Ontario government announced in May that it is investing an additional $6 million in the Provincial Forest Access Roads Funding Program to help construct and maintain forestry roads, bringing funding for the program to a total over $59 million in 2024 to 2025. This investment not only benefits the forest sector, but also provides key infrastructure for regional travel between communities, the transport of goods, emergency preparedness and response, along with providing access routes for the tourism sector.

“Many people rely on this road network every day for travel between work and home and everywhere in-between,” said Graydon Smith, Minister of Natural Resources and Forestry. “This investment will keep people and vehicles moving safely, support efficient business operations and build safer, stronger communities.”

The Provincial Forest Access Roads Funding Program provides funding for new construction and maintenance of over 19,500 km of public forest access roads and other essential infrastructure.

“As part of our commitment to improve quality of life in Northern and First Nations communities, our government is proud to deliver targeted supports that lead to a stronger, more connected road network,” said the Honorable Greg Rickford, Minister of Northern Development and Minister of Indigenous Affairs. “We understand the unique challenges that forestry partners face as part of their operations in the North, and we are pleased to deliver a solution that is beneficial to northern and Indigenous communities alike.”

Public forest access road infrastructure is vital to northern, rural, and Indigenous communities. It permits safe travel within and between regions, enables business operations for industry and tourism operators, and provides public access to nature and outdoor recreation. In addition to supporting public quality of life and promoting local economic activity, investments in forest access roads advance Ontario’s sustainable forest management goals by enabling forest management and regeneration.

Ian Dunn, RPF, President & CEO of Ontario Forest Industries Association praised the investment. “Well-maintained forest road infrastructure is critical to the success of Ontario’s forest industry, communities, and all users of Ontario’s forests,” he said. “We thank the Ontario government for their continued leadership in support of this critical program.”

Similarly, Danny Whalen, President of the Federation of Northern Ontario Municipalities stated: “The Federation of Northern Ontario Municipalities is proud to support the recent increase to forestry road funding. This investment not only supports the backbone of the forestry sector but also promises to generate new employment opportunities for northern communities and Indigenous communities.”

 NRCAN Enhances Capacity to Plant Trees and Strengthen Ecosystems in Ontario

NRCAN recently announced an investment of $61 million to launch a new tree-planting program in Ontario’s Crown forestland that will continue through 2026. 

The program will see Ontario and Canada provide equal funding for silvicultural activities – including site preparation and tree planting – to strengthen ecosystems in areas with little or no tree cover, including areas disturbed by forest fires. 

The investment was announced on August 8 by Marc G. Serré, Parliamentary Secretary to the Minister of Energy and Natural Resources and to the Minister of Official Languages, on behalf of the Honourable Jonathan Wilkinson, Canada’s Minister of Energy and Natural Resources; and Nolan Quinn, Ontario’s Associate Minister of Natural Resources.

The tree planting initiative complements trees planted by forest managers to regenerate forests following harvesting activities and should enable the planting of approximately 60 million trees by the end of the program, depending on the availability of suitable Crown forestland and the range of projects identified by Ontario’s forest managers.

Tree-planting efforts across Canada are playing a large part in tackling the dual crises of climate change and biodiversity loss. Diverse forests capture the carbon in growing trees to reduce emissions; they help regulate hot temperatures in cities; they reduce the threats posed by wildland fires and flooding; and they support human health by creating more green spaces for recreational activities. 

The 2 Billion Trees program is part of the Government of Canada’s broader approach to nature-based climate solutions. By planting the right tree species in the right places, the governments of Canada and Ontario are working toward a greener and more resilient future for our forests and communities for generations to come.

IAMGOLD Announces Commercial Production at Côté Gold

On August 1, IAMGOLD Corporation announced that Côté Gold Mine has reached commercial production. This means that the mine has reached a minimum of 30 consecutive days of operations, during which the mill operated at an average of 60% of the intended full-load sustained output of a facility (nameplate capacity) throughput of 36,000 tpd. 

“I would like to commend our teams at Côté Gold who have come together to achieve another great milestone as we progress and ramp up what we believe will be one of Canada’s largest gold mines and a model for modern mining in Canada,” said Renaud Adams, President and Chief Executive Officer of IAMGOLD. “Since achieving the first pour of gold on March 31, 2024, our teams have spent the last four months methodically and iteratively testing and ramping up all facets of the mine. This process has required remarkable commitment, ingenuity, and teamwork to bring all the systems online together to achieve this milestone.”

“With commercial production behind us, we continue to focus on improving plant availability towards our goal of Côté exiting the year at 90% of nameplate [capacity] throughput,” he added. “Further, in May we completed our equity financing, which has positioned us well to repurchase the 9.7% interest in Côté this November and return to 70% ownership thereby gaining more exposure to this foundational and keystone asset for the benefit of all our stakeholders.”

According to the company, the plant continues to ramp up production, with all major equipment demonstrating the capability to operate at or above design levels. After the initial pour, focus early in the second quarter was on testing the processing circuits to handle nameplate loads. The primary components of the overall plant responded well achieving at or above nameplate throughput, though availability of the dry-side of the processing facilities was limited (particularly in the crushing and screening circuits). The company is planning a multi-day shutdown in September to address and mitigate the impact of traditional wear and tear on availability of the circuits, in support of the goal to ramp up throughput to 90% by the end of the year.

Côté Gold Mine sits approximately 25 km southwest of Gogama, 125 km southwest of Timmins, and 175 km northwest of Sudbury, and covers a total area of about 596 km². Côté Gold is a joint venture between IAMGOLD, which holds 60% ownership, and Sumitomo Metal Mining Co., Ltd., which holds 40% ownership and carries a 7.5 net profits interest (NPI) royalty. 

IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa, and a portfolio of early stage and advanced exploration projects within highly prospective mining districts. IAMGOLD employs approximately 3,700 people and is committed to maintaining its culture of accountable mining through high standards of Environmental, Social and Governance (ESG) practices, including its commitment to Zero Harm®, in every aspect of its business. 

Magna Mining Awards Advanced Exploration Contract to ADLP 

Magna Mining Inc. announced on June 11 that it had awarded its Advanced Exploration (ADEX) contract at the Crean Hill Project to Aki-eh Dibinwewziwin Limited Partnership (ADLP). ADLP is a partnership between Atikameksheng Anishnawbek, Wahnapitae First Nation, and Technica Mining.

 “We are confident in our decision to award the ADEX mining at Crean Hill to ADLP,” said Jason Jessup, CEO of Magna Mining. “We have been in discussions with ADLP for several months and they have demonstrated the culture and expertise that meets our expectations.  Additionally, working with a local mining contracting company on our project will help to minimize costs and re-enforces our conviction to build strong relationships with our local stakeholders while contributing to the economic growth in the Sudbury region.”

“This contract with Magna Mining will have a tremendous impact on the growth and prosperity of ADLP and its partners,” stated Chief Roque of Wahnapitae First Nation. “Once again, local First Nations will have direct input on the work being done on our traditional territories and we will finally benefit as equals from that work. We are grateful to Magna Mining for this opportunity, the acknowledgement it provides, and the financial benefits it will provide for many generations to come.”

The initial phase of the ADEX mining program will consist of a surface bulk sample of approximately 20,000 tonnes from the 109 Footwall Zone. The mobilization and site preparation were scheduled to begin in June, with drilling and blasting in July, followed by processing at Glencore’s Strathcona facility. Dewatering of the historic underground workings via the main shaft is planned to commence in Q3, allowing for the start of the portal on surface and underground ramp development later in 2024. Dewatering will be ongoing throughout the ADEX program and water will be treated through an existing water treatment system located off the Crean Hill property. The initial capital required to commence the surface bulk sample program at Crean Hill is expected to be funded from Magna’s existing cash balance.

Magna Mining is an exploration and development company focused on nickel, copper, and Platinum Group Metals (PGM) projects in the Sudbury Region. The company’s flagship assets are the past producing Shakespeare and Crean Hill Mines. Crean Hill is a past producing nickel, copper and PGM mine with a technical report dated July 2023. Learn more at www.magnamining.com.

 McEwen Mining Closes $30M in Financing for Exploration Near Timmins

McEwen Mining Inc. has closed the previously announced public financing for $30 million to fund ongoing exploration and development at the Fox Complex in the Timmins region, primarily focused on exploration drilling and the development of an underground access ramp from surface to mine the gold resources of Stock East and West. This represents the next area of production growth at the Fox Complex.

The proceeds of this financing will be used exclusively for qualifying Canadian Exploration Expenses (CEE) and Canadian Development Expenses (CDE), including:

• Part 1 (CEE) of the financing consists of a $13,650,890 offering of 643,000 flow-through common shares at a price of $21.23)

• Part 2 (CDE) of the financing consists of a $16,384,900 offering of 890,000 flow-through common shares at a price of $18.41.

Part 1 (CEE) and Part 2 (CDE), together the offering, consisted of 1,533,000 flow-through common shares at a blended average price of $19.59, a 19% premium to the closing price on May 27, for aggregate gross proceeds of $30.0 million. Total proceeds from the offering net of placement agents’ fees were approximately $28.5 million.

The offering was made pursuant to a shelf registration statement on Form S-3 previously filed by McEwen in the US and subsequently declared effective by the Securities and Exchange Commission (SEC) on January 2 (and also pursuant to a preliminary and final multi-jurisdictional disclosure system prospectus [the Canadian Base Shelf] in Canada.)

The Fox Complex is located in the well-established Timmins Gold Mining Camp. Its main properties, Black Fox, Stock, and Lexam, sit along Provincial Highway 101. The Fox Complex consists of approximately  7,000 hectares of land packages along 18 km (11 mi) of the Destor-Porcupine Fault (the Golden Highway), which has a total strike length of approximately 200 km (124 mi) and hosts many of the richest gold mines in Ontario and Quebec.

McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico, and Argentina. In addition, it owns approximately 47.7% of McEwen Copper which owns the large, advanced stage Los Azules copper project in Argentina. The company’s goal is to improve the productivity and life of its assets with the objective of increasing its share price and providing a yield. Rob McEwen, Chairman and Chief Owner has personally provided the company with $220 million and takes an annual salary of $1.

 West Lake Salvages Enough Gold in Spring Cleanup to Pour Gold Bar 

West Red Lake Gold Mines Ltd. (WRLG) was excited to announce that it was able to pour gold bar using the refinery in the Madsen mill on June 8, with gold was recovered during the Madsen mill cleanup and gold recovery program. 

“It is very exciting to be pouring gold again at the Madsen Mill,” said Shane Williams, President and CEO of WRLG. “Recovering trapped gold is another validation of the opportunity that’s available for us to unlock at the Madsen Mine. With gold worth approximately US$2,300 per ounce, recovering these ounces from the mill will help bolster our treasury. And the excitement of pouring gold again at the mine is further energizing our team as we push to get Madsen back into production in the second half of 2025.”

The company announced the cleanup of its at its 100%-owned Madsen Mine in May and explained that the mill cleanup program was necessary because of visual evidence that installation and operational missteps by the prior operator in certain parts of the mill had created “traps,” resulting in gold being caught up instead of making it through the mill.

A preliminary mill cleanup in late 2023 recovered 415 troy ounces of gold with proceeds of approximately US$750,000 from material trapped in the mill’s circuits. This prompted a second phase focused on the ball mills and semi-autogenous grinding (SAG) mills. Gold was found physically trapped in ill-fitting liners in the ball mill, in the SAG mills, and in uncleaned filters. All of these would have impacted the previous operator’s reconciliation numbers, and all can be minimized or eliminated through installation of proper equipment and mill operations expertise.

Longshot Diamond Drilling specializes in mill cleanups and conducted the cleanup at the Madsen mill. Owner Russell Manderstrom has cleaned more than 30 shut-down mills around the world since 1978. Longshot brought a small portable gravity circuit to the Madsen site and used it to separate coarse gold from the milled material collected during the cleanup.

WRLG used the gold refinery at the Madsen mill to pour the recovered coarse gold into a gold bar onsite. The company was pleased to see the refinery operating smoothly after 18 months of inactivity.

“Seeing the refinery in action was another check mark on our list of Operational Readiness requirements,” said Williams. “Starting or restarting a mine requires reliable operations from multiple facilities and systems. From my experience building and commissioning mines, I know what a difference it makes to a new operation to have such systems in place prior to start up.”

The rest of the collected material, which contains the remaining gold fines, will now be sent off-site for processing. When this off-site processing is complete, WRLG will announce the total amount of gold recovered through the mill cleanup program.

West Red Lake Gold Mines Ltd. is a mineral exploration company that is focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km² highly prospective land package in the Red Lake district of Ontario. WRLG also holds the wholly-owned Rowan property in Red Lake, with an expansive property position covering 31 km², including three past producing gold mines – Rowan, Mount Jamie, and Red Summit.

 Canada Nickel Achieves Best Drill Results to Date at Reid

Canada Nickel Company Inc. recently announced positive assay results from its ongoing 2024 exploration program at its Reid property, located 37 km northwest of Timmins.

All 34 holes drilled this year at Reid have intersected long intervals of targeted mineralized dunite and minor peridotite. Complete assay results for 18 holes have been received, 13 of which were announced on August 8. Assay results for five holes were previously released on March 18 and May 6. 

“Reid continues to deliver excellent results, including the best individual hole to date with long core lengths grading in excess of 0.4% and 0.5% nickel and all holes delivering large intervals of target mineralization,” said Mark Selby, CEO of Canada Nickel. “With a target geophysical footprint larger than our flagship Crawford project and a width in the central core more than double Crawford, we look forward to the initial resource estimate for Reid expected to be released in the fourth quarter of 2024.”

Selby added: “The ongoing success of our regional exploration program clearly demonstrates the potential scale of the Timmins Nickel District.  We now have seven drill rigs drilling five separate targets – Reaume, Reid, Mann Central, Mann Northwest-SE, and Mann Northwest-NE – which are in addition to the two properties where we have already published a resource.”

The Reid property is located just 16 km southwest of Crawford and contains a geophysical target of 3.9 km², which is nearly 2.4 times larger than Crawford. The company expects to produce an initial resource at Reid in Q4 2024. The remaining drillhole assays will be released once the company receives the results. 

Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless-steel markets. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. Learn more at www.canadanickel.com.