The Yukon placer industry has continued to thrive amid strong and rising gold prices. There was a slight increase in activity this past season. A total of 156 operations were active across the Yukon, which was up from 147 in 2023. The Dawson Mining District remained most active, and included 70% of operations in the territory, while the Mayo and Whitehorse districts accounted for 21 and 9%, respectively. A combination of strengthening gold prices, favourable weather, and increased activity resulted in record placer revenue from April 1 to November 1, 2024. The reported placer production in 2024 of 85 799 crude ounces yielded a production revenue of C$230 million, which marks the highest in Yukon’s placer gold production history since 1886. This highlights the industry’s resilience and growth, bolstered by positive economic conditions and advancements in mining technology.

Placer districts across the Yukon yielded strong production this season as a result of favourable conditions. A continued rise in gold prices and stable fuel prices were complemented by mild temperatures that allowed for an extended sluicing season. As of November 10, 2023, the 146 active placer operations in the Yukon had collectively generated $143.7M in production revenue. The Dawson Mining District was the primary contributor to gold production, accounting for 89% of the total production for the Yukon. The Mayo Mining District followed with a 7% contribution and Whitehorse Mining District reported 4% of the overall production.

The Yukon placer mining industry recorded strong production in 2019. This was largely due to favourable gold prices, coupled with a beneficial exchange rate, which resulted in high selling prices during most of the summer. The industry also benefited from an early start to the season due to warm early spring temperatures. Shifts in regional production values reflect movement of certain large operations to both new and historic locations. The shift reflects permitting challenges in the Indian River, as well as the need to discover and develop new deposits based on diminishing resources within specific claim holdings. Placer gold production, according to export tax reporting at the time of publication, was 75,228 crude ounces and valued at $116M¿CDN. The 2019 production value was nearly $27M¿CDN greater than that of 2018, largely owing to a favourable gold price that averaged more than $1900¿CDN/fine ounce throughout much of the mining season. This was nearly $400¿CDN/fine ounce more than the average 2018 gold price. When accounting for inflation, the 2019 production value is the highest value since 1988.

The Yukon Placer Industry Report is a reflection of the strong working relationship between the Yukon Geological Survey (YGS) and the Yukon placer mining industry. Our annual tours into the various gold fields are always productive and provide new details on placer gold settings, which are encapsulated in this report.

The Yukon Placer Mining Industry report reflects the strong relationship between the Yukon Geological Survey (YGS) and the Yukon placer mining industry. Our annual tours into the various gold fields are always productive and provide new details on placer gold settings, which this report encapsulates.

The Yukon hardrock mineral exploration sector continued to thrive in 2024 with the release of exciting results and the announcement of seven new mineral resources. Although there were many successes in the Yukon’s exploration industry this past year, they were not immune to the negative impact of the heap leach pad failure that occurred on June 24, 2024, at Victoria Gold Corp.’s Eagle Gold Mine. At the time of writing, the Yukon Geological Survey (YGS) estimates exploration expenditures in the Yukon to be $145M for the year, based on company press releases, System for Electronic Document Analysis and Retrieval (SEDAR) postings, and conversations with industry clients. This estimate of the exploration expenditure is down 9% from $160M in 2023. Development expenditures for 2024 are estimated to be $40M, down from $84M in 2023. The decrease in exploration expenditures in 2024 compared with 2023 can be attributed to the heap leach pad failure at the Eagle Gold Mine, which impacted exploration programs across the Yukon. This led some companies to temporarily pause or completely halt their program for the remainder of the 2024 exploration season. The halt in exploration programs was, in part, a response to the demands voiced by some First Nations, such as the First Nation of Na-Cho Nyäk Dun, who called for an immediate halt to all mining and exploration activity in their Traditional Territory (First Nation of Na-Cho Nyäk Dun, 2024). The Government of Yukon responded stating that the territory cannot halt all existing, permitted mineral development activities, as mining and exploration companies are protected under the federal and territorial legislation and the Umbrella Final Agreement (Government of Yukon, 2024b). Mineral production is estimated to be at least $190M (approximately 57.5% attributed to silver production and 42.5% attributed to gold production), down from $513M in 2023. Mineral production was low in 2024 due to the current closure of the Eagle Gold Mine, which was one of the two active hardrock mines in the Yukon. However, production revenue at Keno Hill Mine remains high due to precious metal prices reaching an all-time high and remaining strong in 2024. As of November 30, 2024, there were 84 active exploration projects in the Yukon, which is comparable to the number of projects in 2022 and 2023; 29 of these were partially funded through the Yukon Mineral Exploration Program (YMEP). In 2017, the Yukon began to experience a decline in the number of active exploration projects along with fewer active companies and individual prospectors, especially during the COVID-19 pandemic; however, those numbers have stabilized since 2022. In 2024, the majority (approximately 70%) of active exploration projects occurred within the Traditional Territories of the First Nation of Na-Cho Nyäk Dun(29 projects; 30%), Kaska Dena Nations (17 projects; 18%), Tr’ondëk Hwëch’in First Nation (11 projects; 11%) and the Selkirk First Nation (10 projects; 10%; Fig. 5). Similarly, the highest-combined expenditures across the First Nations’ Traditional Territories were approximately $132M for the First Nation of Na-Cho Nyäk Dun, $51.5M for the Kaska Dena Nations, $13.0M for Tr’ondëk Hwëch’in First Nation, and $11.3M for Selkirk First Nation.

This report documents the state of the Placer Mining Industry in the Yukon Territory for the 1991 and 1992 mining seasons. The majority of this volume consists of detailed descriptions of placer operations visited by the staff of the Placer Mining Section of the Mineral Development Division, Northern Affairs Program, Yukon Region. Also included is information that may be useful to readers who are interested in searching for and developing placer properties in the Yukon Territory.

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This report is a synthesis of the Yukon Geological Survey’s placer fieldwork and captures information collected from approximately 120 site visits conducted each season. Information is supplemented by details from staff at Compliance Monitoring and Inspections and, from conversations throughout the off-season with miners. This edition of the placer industry report is larger than ever, which speaks to the level of activity in the various districts and our commitment to providing an accurate record. In order to provide practical information, we have continued to increase the amount of geological detail in the report. The scope of the report also aims to capture mining activity and equipment utilized at each site. This helps frame the style of mining and gives a general idea about mine layout and processing techniques. The overall aim of the property descriptions is to provide a reference that is both insightful in the short term and informative decades into the future.

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