Peregrine, NexGen and Cardinal among leaders honoured in PDAC awards

The Prospectors and Developers Association of Canada (PDAC) has announced the winners of its yearly awards, which recognise the work of international and domestic leaders in the mineral exploration and mining community.

The Bill Dennis award went to Peregrine Diamonds, which discovered the Chidliak diamond district, near Iqaluit on Baffin Island. Exploration programmes and engineering studies completed between 2008 and 2018 led to the discovery of 74 kimberlites, one of which has a 17.96-million-carat inferred mineral resource with an average grade of 2.41 ct/t and average diamond value of $151/ct, with six other kimberlites having economic potential. A 2018 preliminary economic assessment outlined an openpit mine with a 13-year mine life and post-tax net present value (NPV) of C$668.7-million and an internal rate of return (IRR) of 31.2%. De Beers bought Peregrine last year and Chidliak is expected to become Canada’s next diamond mine.

The inaugural chair of the PDAC Aboriginal affairs committee, Donald (Don) Bubar was awarded the Distinguished Service award for raising awareness about the importance of engagement between companies and Indigenous communities, and encouraging participation by Indigenous peoples in the mineral industry. Don was instrumental in developing a relationship with the Assembly of First Nations (AFN), which ultimately led to the memorandum of understanding between PDAC and AFN, signed in 2008.

The Environmental and Social Responsibility award went to uranium explorer NexGen Energy, which has projects in Saskatchewan’s Athabasca basin. NexGen is giving back to the province by investing in community initiatives focused on education, health and economic development. NexGen’s programme empowers Saskatchewan’s youth through hands-on work experience, providing access to education, sport and employment opportunities. From an environmental standpoint, NexGen is an early adopter of centrifuge units and introduced the use of TECH Directional drilling methods as a way of reducing the surface footprint from exploration drilling.

The Skookum Jim award was bestowed on Gordon Maxwell, a well-known geologist and member of Sachigo Lake First Nation in north-western Ontario. Maxwell’s 35-plus-year career has taken him around the world evaluating projects and potential acquisitions. He is a long-time workplace health and safety advocate, and has spent many years championing the Canadian Diamond Drilling Association’s Drilling Excellence Certification Program to establish a new, higher standard of quality in the diamond drilling industry.

Cardinal Resources picked up the Thayer Lindsley award for the Namdini gold project, in Ghana. The project comprises an initial mineable reserve of 129.6-million tonnes at an average grade of 1.14 g/t of gold, for 4.76-million ounces of gold that can be extracted from a single openpit. In addition, there are nearly 63-million indicated and inferred tonnes at 1.2 g/t for 2.11-million ounces of gold. Based on the October, 2018 prefeasibility study, and using $1 250 as a gold price, Namdini has a post-tax NPV of $588-million, with a IRR of 38%.

Nemaska Lithium received the Viola R. MacMillan award, recognising the Whabouchi project, in the Eeyou Istchee James Bay region of Québec. The company successfully completed a C$1-billion financing package in May this year, to build a lithium hydroxide and carbonate production facility, in tandem with a spodumene mine. The Whabouchi mine and concentrator are expected to start production with sales of spodumene concentrate in the third quarter of 2019. It has an initial 33-year mine life and is expected to produce 213 000 t/y of 6.25% spodumene concentrate.