Larger Players Accounted for 40% of 2014 Global Non-ferrous Exploration Budgeting

The 25th edition of SNL Metals & Mining’s Corporate Exploration Strategies shows that 39 larger mining companies budgeted a total of $4.33 billion for worldwide non-ferrous exploration spending in 2014 and accounted for 40% of the $10.74 billion total budgeted by an overall group of 1,961 companies. Each of the 39 larger companies budgeted at least $50 million for exploration during the year.

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Agnico Eagle Reports Good Progress at Amaruq

Agnico Eagle completed its 2014 exploration activities at its Amaruq gold project in Nunavut, Canada, in mid-October. Previously called the IVR project, the Amaruq project is located approximately 50 km northwest of Agnico Eagle's Meadowbank mine. The $10 million 2014 field program included 31,598 m of drilling in 144 holes, plus geophysics and camp construction that will support expanded activities in 2015.

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Wallbridge and Lonmine Continue Exploring Sudbury Joint Ventures

Wallbridge Mining reported in late September that Lonmin plc will fund an additional C$5.5 million in expenditures and cash option payments over the coming year to explore for platinum, palladium, copper, nickel, and gold on their North Range and Sudbury Camp joint-venture properties in the Sudbury district of Ontario. The new Lonmin spending commitment was effective October 1, the start of the company’s 2015 fiscal year.

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Seabridge Adds to its Gold-copperResource at KSM in British Columbia

Seabridge Gold reported that early results from the 2014 drill program at its 100% owned KSM project in northwestern British Columbia have confirmed a major new gold-copper occurrence beneath the Iron Cap deposit, one of the project's four large porphyry deposits. The discovery, which began to emerge in the 2013 drill program, is called the Iron Cap Lower Zone. The drill program is now being intensified to generate sufficient data for an initial resource estimate expected by January 2015.

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