The Golden Triangle’s Growing Mining Potential

History of the Golden Triangle

The Golden Triangle is also called the Iskut district, and it is a well-mineralized region in BC that extends from Kisault in the south to Iskut in the north and to the Stikine River in the northwest. Volcanic activity during the Late Triassic and Early Jurassic era caused extensive mineralization in the area, the terrane of which is often known as Stikinia, or the Stikine terrane.

Gold was first discovered in the area in 1861, at the confluence of the Stikine and Anuk rivers, triggering the region’s first gold rush, which was later followed by two more. Since then, more than 150 mines have operated in the region.

Success stories include the Silbak Premier mine, which was the richest mine in North America in the 1920s. Another is the Eskay Creek gold and silver mine, which entered production in 1994 and produced 3 million ounces of gold and 150 million ounces of silver by the time it closed in 2008. Skeena Resources (TSX:SKE) is currently working to revitalize the mine.

A resurgence of activity

Exploration in the region grew quiet in the 1990s and 2000s, as access challenges caused by cold winters and poor roads plus the depressed price of gold caused projects to shut down. However, it has since seen a renewal both inside the traditional boundaries of the Golden Triangle and nearby.

Work in the region has been enabled by the installation of high-voltage transmission lines, offering a reliable and affordable source of energy in the remote region. The Stewart-Cassiar Highway has transformed ground access. By water, the port in Stewart now has improved facilities.

Additionally, the Tahltan Nation and Nisga’a Nation, whose traditional unceded territories make up the Golden Triangle, are supportive of the mining industry. The two nations formed a partnership to strengthen their position as industry leaders and welcome investment from mining companies that respect their people and sovereignty, according to Mining News North.

There are currently two operating gold mines in the Golden Triangle, Brucejack and Red Chris. Both are owned by Newmont (TSX:NGT,NYSE:NEM) following its acquisition of Newcrest Mining, and produced 273,000 ounces and 39,000 ounces of gold respectively in Newmont's fiscal 2023.

Major finds include those by Seabridge Gold (TSX:SEA,NYSE:SA), which has a market cap of $1.23 billion and whose Kerr-Sulphurets-Mitchell (KSM) project hosts significant amounts of gold, copper, silver and molybdenum. Reportedly, it’s the largest undeveloped gold resource in the world and the third largest undeveloped copper resource.

The region is also home to Tudor Gold's (TSX:TUD) Goldstorm deposit at the Treaty Creek project, considered one of the larger gold discoveries made in recent decades.

Other notable projects in the Golden Triangle include Ascot Resources’ (TSX:AOT) Premier and Red Mountain projects.

Expanding the search

While discoveries are ongoing inside the traditional boundaries of the triangle, much of BC is abundantly mineralized. On the outskirts of the Golden Triangle, there have been numerous notable discoveries that have been less publicized, but still offer powerful investment potential.

Trailbreaker Resources' (TSXV:TBK) Atsutla gold project is located in the Atsulta mountain range 70 kilometers south of the BC-Yukon border. The company has defined five significant gold zones over 26 kilometers.

Cassiar Gold (TSXV:GLDC) owns the Cassiar Gold project, which covers 590 square kilometers near the Golden Triangle, with two main project areas hosting substantial gold resources. The Williams project in Northern BC, owned by CopAur Minerals (TSXV:CPAU), covers a land package of 9,700 hectares and hosts substantial gold and copper discovery potential.

Prospect Ridge Resources (CSE:PRR) has made some significant exploration progress near the edge of the Golden Triangle as well. Its two key assets, Knauss Creek and the placer past-producing Holy Grail property, exhibit high-grade potential for gold, silver, copper, lead and zinc. Exploration work at Knauss Creek, 35 kilometers north-east of Terrace, has shown high-grade mineralization, particularly in the Copper Ridge zone.

The Mt Hart project, run by Rare Earth Ridge Resources, is adjacent to the Golden Triangle in BC's tin-tungsten belt. The project hosts peralkaline granite that contains high levels of rare earth and critical metals, and it is also prospective for tin greisen deposits.

On the edge of discoveries

Investment opportunities just outside the Golden Triangle come with a range of benefits. Many of them are close enough to the triangle to benefit from its infrastructure upgrades, including power upgrades and improved roads. The larger region boasts a skilled workforce that is willing to locate where there are opportunities.

Many pockets in the province once housed mines, and new technologies are discovering untapped deposits near these facilities. Revitalizing these regions can tap into existing local roads, power and communities.

Investor takeaway

British Columbia is a stable jurisdiction that supports the mining industry, and natural resources are a longstanding key industry for the province. The path well-worn by previous ventures has aided in gaining government approvals and brokering positive relationships with local Indigenous communities. These factors are supportive of projects both in and near the Golden Triangle.

Importantly, Golden Triangle investment opportunities garner worldwide attention, but there are numerous underexplored regions on the fringes that offer novel investment opportunities for those willing to look a little farther afield.

Diane Peters is a freelance writer based in Ontario.

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