In other parts of the world producers of gold, exhausting its reserves trying to find gold, the Yukon may have the potential to reward investors and seekers of wealth as fears of a tough global financial crisis the prices of ingots and disc.
Sub-Arctic Yukon, the residents of northern U.S. state of Alaska, and is almost the size of Spain, is in some of the biggest areas of gold fields in the world.
That has drawn exploration companies into a frenzy reminiscent of the Klondike Gold Rush of the 1890s, when thousands of miners met with the territory. Some experts estimate that recent discoveries have so far scratched the surface potential of the region.
Bigger, richer in cash, in turn, mining companies are exploring opportunities, especially for small operators with exploration permits.
The trigger has revived interest in the Yukon is the large white gold project, acquired last year by Kinross Gold for $ 139 million. The former owner, Underworld Resources, was informed of the laws of gold higher than anything found in the region over the past decade.
Some $ 255 million is expected to be devoted to exploring even this year, with two thirds of the projects that drive gold, according to Sack. That’s up from $ 120 million last year.
In the first nine months of this year, the Yukon Mining Recorder’s Office recorded 103,755 claims in the territory, to 83,261 in the whole of last year, and nearly 10 times the normal level in recent years.
In July, 2011 Golden Predator raised its exploration budget for the second time this year after drilling results revealed another major discovery in the brewery Creek.
The white gold property, located about 60 kilometers south of the previous discovery of Klondike, is believed to be the source of hard rock of the Klondike Gold of pleasure – a loose mineral source and found in alluvial deposits in streams and rivers.
White Gold has 1.5 million ounces of gold, or 5 percent of the most famous Yukon Gold Hard Rock, and is home to about 15 exploration companies, a fifth of operating in the Yukon. The Gold Rush of the late 19th century saw an estimated 15 million ounces.
Another hot property is the Yukon Gold Eagle store, where Victoria Gold estimates proven and probable reserves of 1.8 million ounces.
Other companies active in the region are resource Attack, Yukon-Nevada Gold Corp. and Capstone Mining Corp. Gold Ryan
The valuations of gold mining companies have not risen in sync with rising bullion prices, currently around 1730 dollars an ounce.
The resource heavy TSX Venture Exchange for emerging companies sank near a minimum of two years in October and has fallen 36 percent since the increase to a maximum of 32 months in March.
Once the drilling updates are known, some predict a new round of consolidation in the industry, Kaminak and attack seen as possible targets, and Newmont Mining Corp. and Barrick Gold Corp. and exploration of purchase.