Fire Tears Through Kilns at NorSASK Mill

On March 30, a fire damaged two lumber-drying kilns and paused production in NorSASK’s Meadow Lake sawmill. According to meadowlakeNOW, the Meadow lake Fire Department

responded to the blaze shortly before noon. They worked with surrounding departments until 7:00 pm that night.

According to Global News, Al Balisky, President and CEO of Meadow Lake Tribal Council (MLTC) Industrial Investments, said, “Along with NorSASK staff, employees and maintenance contractors, the fire departments of Meadow Lake, Loon Lake, and Glaslyn all assisted in the fire suppression efforts.”

He added that there were no injuries and that the fire was under investigation.

NorSASK Forest Products is owned by the Meadow Lake Tribal Council (MLTC) and operates in Meadow Lake, SK. It is the largest First Nations-owned sawmill in Canada, and profits generated by NorSASK support economic development, social programs, employment and infrastructure in the nine First Nations communities represented in MLTC. Currently, the company employs approximately 100 full-time employees and sustainably manages 1.8 million hectares of boreal forest.

Saskatchewan Ranks 3rd in World for Mining Investments

Saskatchewan has ranked third most attractive mining jurisdiction in the world, according to the 2020 Annual Survey of Mining Companies released in late February by the Fraser Institute. The report is an attempt to assess how mineral endowments and public policy factors like taxation and regulatory uncertainty affect investments in exploration globally.

The survey places Saskatchewan eight spots ahead of their previous position of 11th most attractive in 2019. Saskatchewan ranks highest of all other Canadian provinces and territories.

“The Fraser Institute’s mining survey is the most comprehensive report on government policies that either attract or discourage mining investors,” said Elmira Aliakbari, Director of the Fraser Institute’s Centre for Natural Resource Studies and co-author of the report.

The 2020 Annual Survey of Mining Companies ranked 77 jurisdictions in 2020. According to a news release from Fraser Institute, the findings are influenced by geologic attractiveness (in both minerals and metals) and government policies that encourage or deter exploration and investment.

“Policymakers in every province and territory should understand that mineral deposits alone are not enough to attract precious investment dollars,” Aliakbari stated.

Other Canadian jurisdictions of note include Newfoundland and Labrador, who ranked eighth, and Quebec, who ranked sixth. However, the institute stated that Quebec’s strong performance in overall investment attractiveness is due largely to the province’s mineral potential. On government policy alone, Quebec ranks 17th, which suggests there is plenty of room for improvement.

“A sound and predictable regulatory regime coupled with competitive fiscal policies help make a jurisdiction attractive in the eyes of mining investors,” said Jairo Yunis, Fraser Institute Policy Analyst and report co-author.

The Fraser Institute is an independent, non-partisan Canadian public policy think-tank. Based in Vancouver, the institute aims to improve lives by producing research about government actions in areas that deeply affect Canadians such as taxation, health care, Indigenous issues, education, economic freedom, energy, natural resources, and the environment.

Saskatchewan Gets Top Global Ranking in International Mining Report

In late 2020, the Mining Journal Intelligence World Risk Report ranked Saskatchewan among the very top jurisdictions globally for doing business in the mining sector.

According to a press release from the Government of Saskatchewan, the province achieved the highest rating in the report’s opportunity index, which graded on perceived mineral potential and investment risk. As well, Saskatchewan was one of only two jurisdictions to achieve the highest AAA rating in overall investment. The report also looked at five major areas, including legal, governance, social, fiscal, and infrastructure performance metrics.

“This report confirms that Saskatchewan, through stable policies and regulation, has created among the strongest mining investment climates in the world,” Bronwyn Eyre, Energy and Resources Minister, said. “The mining sector plays a critical role in our economic recovery, and we will continue to ensure that Saskatchewan is among the top international jurisdictions for investment in the exploration and development of minerals.”

The report, which is published in London, UK by an Australian-owned company, relied on survey responses from more than 900 mining sector professionals, combined with ten metrics from established, risk-related indices in determining the rankings. The report ranks 111 jurisdictions across 83 countries.

MAS Gold Confirmed as 100% Owner of the Greywacke and Preview-North Properties

On April 16, MAS Gold Corp. announced that it was successful in binding arbitration with its former joint venture partner, Golden Band Resources Corp. (GBN). This means that MAS gold has a 100% right and title to the Greywacke North and Preview-North properties and the significant gold resources identified on them with further exploration potential.

According to an April 21 press release, MAS Gold is now entitled to resources that include: an indicated mineral resource of 255,500 tonnes at 9.92 g/t Au for 81,500 ounces of gold and an inferred mineral resource of an estimated 59,130 tonnes at 7.42 g/t Au for 14,100 ounces of gold in the Greywacke North deposit; and an inferred mineral resource of 14,110,000 t grading 0.92 g/t Au, meaning 417,000 contained ounces of gold in the North Lake deposit.

GBR retains a 2.5% net smelter royalty, which MAS Gold has the right to purchase for $1,000,000. The complete Arbitrator’s finding is available on SEDAR.

“This ruling is a very positive development for MAS Gold,” stated Ron Netolitzky, Chairman of MAS Gold. “With this long-running dispute now behind us, MAS Gold can much more easily move ahead in achieving its goal of creating an exciting gold producing company in the La Ronge Gold Belt area of Saskatchewan. MAS Gold would like to thank its entire management group for their diligence in getting this issue settled, as well as our shareholders and greater stakeholders for their patience as MAS pursued this resolution.”

In order to further expand the resources, MAS Gold’s recently completed winter drilling campaign included a total of 2,912.9 meters in 15 holes at Greywacke North and 2,501.5 meters drilled in 10 holes at North Lake. Results
from hole NL21-055 included an interval of 117.2 m grading 1.249 grams gold per tonne.

In a May update, President and CEO Jim Engdahl said, “Hole NL21-055 shows the zone of mineralization continues with significant thickness to the southwest. We are excited to see these results in what is a significant step-out location and we look forward to the remaining results and the updated North Lake Mineral Resource estimate planned for later in 2021.”

According to the press release, upon compilation and analysis of the 2021 winter drill results, an expanded work program including drilling, metallurgical test work, the company will conduct a LiDAR survey. Currently, MAS Gold is continuing baseline environmental studies and community engagement. The planned work programs will be the advanced targets at North Lake and Greywacke North.

“Now that we have completed the necessary arbitration, five years later, and established our title to the Greywacke Lake and Preview-North properties, we can proceed to a Preliminary Economic Assessment of the projects, which have been on hold for more than five years,” Netolitzky also stated.

MAS Gold Corp. is a Canadian mineral exploration company focused on exploration projects in the prospective La Ronge Gold Belt of Saskatchewan. In the belt, MAS Gold operates four properties totaling 33, 843 hectares – including the Greywacke Lake, Preview-North, Elizabeth Lake, and Henry Lake properties. These properties are roughly 60 kilometres of the geologically prospective La Ronge, Kisseynew, and Glennie domains that make up the La Ronge Gold Belt.

High-Grade Uranium Mineralization Discovered at McClean Lake South

On April 14, Denison Mines Corp. reported the discovery of new high-grade unconformity-hosted uranium mineralization from the winter 2021 exploration program completed at the McClean Lake joint venture property. Three of the final four drill holes completed by Orano Canada Inc. (one of two partners in the venture) returned uranium mineralization at the McClean South target area with the results highlighted by drill hole MCS-34, which returned 5.04% eU3O8 over 14.0 metres.

In a press release, Andy Yackulic, Certified Professional Geoscientist and Denison’s Director of Exploration, commented, “The latest results from McClean South are quite exciting. Not only has drilling intersected very high-grade uranium, but the mineralization is open along strike to the west for at least 250 metres and approximately 70 metres to the east towards the McClean South 8E pod. The mineralized intersection in MCS-34 represents one of the better mineralized intersections reported on the McClean Lake property to date – which is impressive, as the property has been explored since the mid-1970s and has previously produced over 50 million pounds U3O8.”

David Cates, Denison’s President and CEO, added, “The discovery of new high-grade uranium mineralization at McClean South reminds us of the significant potential associated with Denison’s portfolio of development and exploration interests in the Athabasca Basin. Orano Canada is a world-class business partner and the operator of Denison’s 22.5% owned McClean Lake uranium mill. With excess licensed capacity at the McClean Lake mill, any meaningful new uranium discovery on the McClean Lake property has the potential to translate into an important source of future mill feed and ultimately considerable value for the MLJV and its owners.”

Denison has 22.5% ownership of the McClean Lake projects, with joint venture partners Orano Canada (70.0%) and Overseas Uranium Resources Development Co. Ltd (OURD) (7.5%). Orano Canada is the operator/manager of the projects.

The McClean Lake property is located within the eastern part of the Athabasca Basin in northern Saskatchewan, approximately 26 kilometres west of the Rabbit Lake mine and approximately 750 kilometres north of Saskatoon, and is accessible by air and an all-weather road. Air transportation is provided through the Points North airstrip about 25 kilometres from the project site.

Foran Mining Strives to Make McIlvenna Bay the World’s First Carbon-Neutral Copper Development Project

Foran Mining Corporation has announced that its 100% owned McIlvenna Bay deposit, located in eastern Saskatchewan, will become the world’s first carbon-neutral copper development project.

According to the press release, Foran has partnered with leading carbon measurement firm and sustainability advisory firms, Carbonzero and Synergy Enterprises, to accurately record its emissions and purchase verified offsets for the carbon emitted from all exploration activities over the past 10 years at the site.

The move reaffirms Foran’s commitment to building the world’s first fully carbon-neutral copper mine. It is part of a broader mission to create a blueprint for responsible mining that causes the least harm possible by using technology, renewable energy, and electric vehicles and equipment.

By offsetting the carbon emitted in exploration, Foran is working to account for the entire impact of the project from development, through to operations, to eventual closure. The offsets, which neutralize emissions produced through land-use changes and clearing, fuel-use for exploration and travel to and from the site, will help provide funding for a mix of projects including a wind power project in Guatemala, and a forest protection project in Inner Mongolia. The company will track project-associated greenhouse gas emissions each year.

“This world-first puts McIlvenna Bay at the cutting edge of the sector, in line with our mission to become the world’s first zero-carbon copper producer from day one,” said Dan Myerson, Executive Chair of Foran. “McIlvenna Bay will host a centralized mill to support our other world-class deposits and we intend to be around for a long time to come. Copper and zinc are essential products that are needed for building a sustainable future such as solar and wind technologies, and electric vehicles. It is imperative we find a way of producing them in a responsible way that lowers social and environmental impact while also creating greater and more sustainable returns, building value for our shareholders, stakeholders, and society.”

“A fully carbon-neutral mine accounts for all emissions produced over the lifetime of the project,” said Heidi Grantner, General Manager of Synergy Enterprises. “Foran’s approach is to reduce emissions as much as possible and offset the remainder with verified carbon offset projects. By measuring and offsetting historical emissions from exploration activities, Foran is taking responsibility for unavoidable emissions and using the measurement exercise to inform data-driven decisions about their future impact. We hope this will serve as inspiration for other mines around the world.”

Foran Mining is a copper-zinc-gold-silver exploration and development company, committed to supporting a greener future, empowering communities, and creating circular economies. The company is currently in the feasibility stage of development with their flagship McIlvenna Bay project. McIlvenna Bay is a copper-zinc-gold-silver rich VMS deposit, just 65 km from Flin Flon, MB and is part of the world class Flin Flon Greenstone Belt that
extends a distance of over 225 km from Snow Lake, MB and into Saskatchewan.

Eagle Plains Resources Adds Claims to Uranium Portfolio

Eagle Plains Resources has completed staking activity adding 989 hectares to the 2,410 hectares Lazy Edward Bay Project located about 60 kilometres west of the Key Lake Mill and historic mine.

According to a March press release, the claims are owned 100% by EPL with no underlying encumbrances.

Lazy Edward Bay consists of four claims immediately south of the southern margin of the Athabasca Sandstone and east of the Cable Bay Shear Zone, a crustal-scale, regional geological boundary. The project covers several shallow uranium exploration targets including three priority geophysical anomaly targets identified by a 2010 high-sensitivity airborne magnetic gradiometer survey carried out by JNR Resources. The property has never been drilled.

The company has also found geophysical anomalies 16 kilometres west of Lazy Edward Bay, adjacent to the Cable Bay Shear Zone. The property is thought to have the potential for shallow basement-hosted uranium mineralization.

Eagle Plains is based in Cranbrook, BC, and conducts research, acquires, and explores mineral projects throughout western Canada. Eagle Plains also holds significant royalty interests in western Canadian projects covering a broad spectrum of commodities. In Saskatchewan, Eagle Plains holds 100% interest in uranium projects that include the Bell Lake West Project, the Eagle Lake Project, and the Flat Rock Island project.

Baselode Energy Acquires the Catharsis Uranium Property

In March, Baselode Energy Corp. announced that the company now owns 100% of the Catharsis Uranium property, with no option agreements or underlying royalties. The property is over 71,100 hectares, located in the Athabasca Basin area of northern Saskatchewan.

According to a press release, the Catharsis property was acquired at the original staking cost from Charles Beaudry, a director of Baselode Energy. The property is located 73 km south of the Key Lake deposits, straddling the Western Wollaston and Mudjatik (WWM) tectonic domains. The WWM is a geological terrane that hosts numerous Athabasca high-grade uranium deposits, though little historical exploration has occurred on the property. However, in the 1970s, showings discovered in the northeast tip of Catharsis included a grab sample that returned 1.38 wt% U3O8, a hematite altered fracture hosting 3,200 ppm U, and outcrop float grab samples that returned 490 to 1,800 ppm U.

“Catharsis complements Baselode’s strategy of exploring for near-surface, structurally-controlled, basement-hosted, high-grade uranium deposits in under-explored areas outside the perimeter of the Athabasca Basin,” said James Sykes, CEO and President of Baselode. “This acquisition doubles our current land holdings, and we believe Catharsis demonstrates promise for the discovery of a mineable uranium deposit. This acquisition is representative of our continuous efforts to evaluate the Athabasca area for prospective targets.”

Baselode currently controls 100% of approximately 155,000 hectares in the Athabasca Basin area, which hosts the highest-grade uranium deposits in the world. Currently, the company is conducting airborne gravity surveys over their
uranium properties.

Nutrien Appoints Mayo Schmidt as President and CEO, Russ Girling as Chair of the Board of Directors Nutrien Ltd. has appointed Mayo Schmidt as the new President and Chief Executive Officer. Mr. Schmidt succeeds Chuck Magro, who is parting with the company to pursue new opportunities. As well, Russ Girling, former President and CEO of TC Energy, has been named Chair of the Nutrien Board of Directors.

“Mayo is a remarkable leader who is committed to our values of safety and integrity, our purpose and our strategy focussed on sustainably feeding the world,” said Russ Girling. “Under his leadership, along with our deep and experienced executive leadership team and our 27,000 dedicated employees, the board is confident the company is well positioned to continue to grow and create enduring shareholder value.”

“The outlook for our business is exceptionally strong,” said Mayo Schmidt. “Over the coming weeks, I will be connecting with our employees, valued customers, and shareholders to continue building our positive momentum and our focus on advancing sustainable solutions to feed a growing planet.”

According to the press release, Schmidt brings over 30 years of agricultural business experience to his leadership of Nutrien. He joined the Agrium Board of Directors in 2012 and served as Chair of Nutrien’s Board of Directors since May 2019. He previously served as President and Chief Executive Officer of Viterra Inc., a Canadian agri-business company. He also held senior positions in other agricultural focussed companies such as ConAgra Grain Canada and General Mills, Inc.

“On behalf of the Board of Directors and everyone at Nutrien, I would like to thank Chuck for his contribution to our growth and success since he joined the company in 2009,” said Mr. Girling. “We wish Chuck all the best in his future endeavours.”

With Chuck Magro’s resignation, the Board has determined to reduce the number of directors from 12 to 11. The 11 other directors stood for election at the Annual Meeting of Shareholders scheduled for May 17, 2021.

“I am very proud of the strong foundation we have built at Nutrien over the last several years. I am grateful for the dedication of our employees, and the important partnerships we have forged with our customers and stakeholders,” commented Chuck Magro. “I have enjoyed every moment of my time at Nutrien, and I wish the company and its people continued success. I look forward to working with Mayo over the coming weeks to support a seamless transition and to my next adventure.”

Based in Saskatoon, SK, Nutrien is the world’s largest provider of crop inputs and services, playing a critical role in helping growers increase food production in a sustainable manner. The company produces and distributes 27 million tonnes of potash, nitrogen, and phosphate products worldwide. As of August 2020, Nutrien operated a network of 1,183 retail facilities in the US, 294 retail facilities in Canada, 105 retail facilities in South America, and 460 retail locations in Australia.