Yukon lives second gold rush

More than a hundred years after the Klondike gold rush, Canada’s Yukon territory is living the fever again. Record prices for the precious metal made gold miners file for more than 85,000 mining permits in the territory since January, compared with 83,000 for the whole of 2010 and 10,000-15,000 in a normal year, authorities said.

Contrary to the first wave, late in the 19th century, when artisanal mining was conduced by individual miners, now the activities are held by junior companies with professional structure and skilled workforce. One of the leading miners is Atac Resources, which claims to have discovered geological formations in Yukon similar to those in Nevada, North America’s biggest gold producing area.

Since the company announced a gold discovery last September, its shares have more than quadrupled at the Toronto Stock Exchange. The current drilling season, which takes place between June and October, will disclose results in the next few months, possibly rushing the region further.