Rio Algom to develop copper mine in Chile
Toronto-based Rio Algom (TSE) will proceed with development of the Cerro Colorado copper mine in northern Chile after receiving approval from the Chilean Foreign Investment Committee. Cerro Colorado w…
Articles by Northern Miner Staff
NEWS IN BRIEF (February 10, 1992)
Spectrum Gold Corp. (SGI.A:VSE) has changed its name to Scarlett Minerals Inc. (SMI:VSE) with a consolidation of capital on a 1-new-for-2-old-share basis.
The Meikle `miracle mine’ — Barrick’s latest: deep but rich
American Barrick Resources (TSE) pulled another billion-dollar gold mine from its Carlin-area holdings recently, announcing development of its deep but rich Meikle gold deposit in Nevada. Formerly kno…
Rio confirms Kemess reserves (February 10, 1992)
A preliminary reserve calculation by Rio Algom (TSE) for the South Kemess property, 60% owned by El Condor Resources (VSE) and 40% owned by St. Philips Resources (VSE), has confirmed recent reserve es…
Sleeping Giant bolsters Aurizon
Underground exploration at the Sleeping Giant gold project 40 miles north of Amos, Que., recently turned up encouraging chip samples for Aurizon Mines (TSE) and program operator Cambior (TSE). On leve…
Low grade, capital cost force Placer to shelve Mt. Milligan
Fresh from hammering out a new agreement for the Eskay Creek joint venture project in British Columbia, Placer Dome (TSE) says it will not proceed with development of the huge Mount Milligan copper-go…
Ontario Hydro sues Denison
Toronto-based Denison Mines (TSE) is being sued by Ontario Hydro. The dispute centres around a long-term uranium purchase and sale agreement signed by Denison and the huge provincial utility in 1977. …
LAC back in the black
A cleaner balance sheet, a strong hedging program and increased gold production pushed LAC Minerals (TSE) well into the black in 1991. For the year ended Dec. 31, 1991, LAC recorded earnings of US$15 …
Melinga tests Honduran project
A first-phase induced polarization survey was recently completed by Melinga Resources (VSE) on the Macuelizo concession in northwest Honduras. The company reports that several prospective gold-copper …
Agnico’s Joutel mines to close
Unless exploration yields a big discovery around Agnico-Eagle Mines’ (TSE) Joutel Division north of Val d’Or, Que., the aging Eagle and Telbel gold mines are likely to close by April, says President P…
Alberta Stock Exchange — Kingswood active
Active Kingswood Explorations 1985 has started up a drilling program on its 60-claim gold property at Eastmain, Que., where surface work indicated a number of anomalies. The company, whose stock slipp…
Taking lessons from Mount Milligan
Placer Dome’s $266-million writedown of its Mount Milligan project in British Columbia was unequivocal acknowledgment that it had made a mistake. The company simply paid too much for a project that di…