USMX negotiates mine purchase
Denver-based USMX (NASDAQ) is close to completing the purchase of the Goldstrike mine near St. George, Utah, from owner Tenneco Minerals. James Knox, president of USMX, said negotiations are at an adv…
Articles by Northern Miner Staff
Mexico offers diversity of minerals
Mexico, with the oldest tradition of mining in Latin America, has become one of the most diversified mineral producers in the world, reports the U.S. Bureau of Mines. In 1985, prior to the collapse of…
Jilbey to drill Nakina area property
A drill program is scheduled to begin shortly on Jilbey Exploration’s (ME) base metal property near Nakina about 125 km north of Geraldton, Ont. An exploration program conducted late in 1992 delineate…
Ramrod plans second Campo drill
With six holes now complete on the Campo Seco gold property in Calaveras Cty., Calif., Consolidated Ramrod Gold (TSE) plans to bring a second drill on to the property. Last October, the company report…
Mining companies budget for exploration spending
The lower prices received for mineral commodities have affected corporate balance sheets but the search by producers for new reserves continues, as the chart below indicates. The 1992 figures were sup…
New contract to lower costs at Florida Canyon
A new mining contract at the Florida Canyon mine owned by Pegasus Gold (TSE) is expected to lower costs by about US$25 per oz. Mining at the open-pit, heap-leach gold mine near Winnemucca, Nev., is co…
Chase releases first Taysan assay
Assay results for the first hole of a continuing drilling program on the Taysan copper project in the Philippines returned a number of better than average copper values. Chase Resource (VSE) has an op…
Melinga encouraged by drill results
Drilling on the Macuelizo gold-oxide project in Honduras recently returned encouraging results for owner Melinga Resources (VSE). One hole in a previously untested zone known as the Sugar Loaf Hill re…
Exall testing at Santo Tomas
Testing of the Santo Tomas porphyry copper deposit in the Mexican state of Sinaloa is confirming previous drill results and the presence of a high-grade core area, Exall Resources (TSE) says. The comp…
Significant gold intercept at Verneuil Twp.
A recently completed drill hole on the Verneuil Twp. gold property of Freewest Resources’ (TSE) in northern Quebec appears to have intersected significant gold mineralization. Hole VP92-10, drilled to…
Copper looms large in Rio Algom’s future
Cut loose during a period of depressed metal prices and a stale global economy, producer Rio Algom (TSE) is out to prove it can make it on its own. A major copper project in Chile should give the Toro…
Sagging gem sales hurt Canadian play
Fresh evidence of a deteriorating diamond market threw some cold water on Canada’s diamond exploration play in the first half of January. South Africa’s De Beers, which controls the diamond cartel, sa…