Magnacon project on schedule
Mine development at the Mag- nacon project in the Mishibishu area is proceeding on schedule, partners Muscocho Explorations (TSE), Windarra Minerals (TSE) and Flanagan McAdam Resources (TSE) say. Loca…
Articles by Northern Miner Staff
Westmont gold mine stepping stone for increased production in
Until the Ridgeway mine came on stream (N.M., Feb 6/88) Westmont Mining’s heap leach operation near here was the largest gold mine in South Carolina, a state that is fast becoming recognized for its g…
Wrightbar’s plans for Bourlamaque placed on hold until better
Development plans for Wrightbar Mines’ (ME) Bourlamaque gold property near Val d’Or, Que., have been put on hold. President W. J. Cluff said the project operator, Belmoral Mines (TSE), has been asked …
Noranda venture arm buying shares in firm
The venture capital arm of Noranda Inc. (TSE), Noranda Enterprise, reports it intends to increase its holdings in Diabrasive International of Montreal by purchasing up to 200,000 common shares (a 2.1%…
Spot prices at a glance (February 13, 1989)
Week’s Price (US) Change Gold (per oz) $390.40 –$ 1.60 Silver (per oz) $ 5.88 +$ 0.06 Platinum (per oz) $529.25 +$10.00 Copper (per lb) $ 1.41 –$ 0.09 …
TVX sells to Placer Dome 50% stake in La Coipa bet
The sale of Consolidated TVX Mining’s 50% interest in a large Chilean gold/silver project to Placer Dome (TSE) was completed recently. Placer Dome has agreed to pay $63 million cash and assume respons…
FINANCING (February 13, 1989)
VANCOUVER Quantum Res Corp. — gross proceeds rec $180,000. Safari Int’l Res — gross proceeds rec $140,000. Benton Res Ltd — 600,000 sold for gross $750,000. Davic Enterprises Inc — 450,000 sold fo…
Hislop bet contract let by Goldpost Res.
A contract has been let to complete a 10,000-ft underground drill program at Goldpost Resources’ (TSE) Hislop East property near Ramore in northern Ontario. The Hislop East property is straddled by th…
Armistice pulls exciting section
Another encouraging intersection has been encountered by Armistice Resources (ME), which is involved in a deep drilling program on property at Virginiatown in northern Ontario adjacent to the western …
Australian firm to buy 33% stake in Granges
It looks as if Granges Exploration (TSE) will be taking on a major shareholder in the form of MIM Holdings of Australia. Under a recently concluded agreement between the two companies, MIM Canada will…
Golden Dragon samples new property claims
Recently acquiring a 51-claim property in Summers Twp. in northern Ontario was Golden Dragon Resources (VSE). The company says the property covers a 3 1/2- mile extension of the Empire fault zone west…
New $1.2 M program for Vault claims
A 1989 work program budgeted at $1.2 million has started on the Vault property near Okanagan Falls, B.C. Inco Gold Ltd. (TSE) owns 60% and is operator, while Seven Mile High Resources (VSE) holds a 40…