News in Brief (January 26, 1987)
American Barrick is now the sole owner and operator of the Goldstrike mine in Nevada. This follows the approval by shareholders of Pancana Minerals of a plan of arrangement which results in Pancana be…
Articles by Northern Miner Staff
Toronto Stock Exchange Is the bull taking a breather before its
The bull was a bit grumpy this week as prices slipped following two straight weeks of gains into uncharted territories. Analysts are predicting a correction of about 10% is in the works, but they add …
Unique sampler
A unique and rapid sampling- assaying device known as the Mineral Analysis Probe (MAP) is proving a boon to the exploration-development program under way at the Hellens Eplett silver mine at Cobalt. D…
Work at Larder Lake, Hemlo planned by Armistice Res.
Armistice Resources plans a 3,000-ft diamond drill program this winter on its Sheldon-Larder property adjoining the west boundary of the Kerr Addison mine at Virginiatown, Ont. Armistice says it will …
Audrey raises funds
Audrey Resources has arranged financing totalling $8 million which will be used to fund exploration of the company’s Mobrun property in Quebec. Work will include additional underground evaluation, exp…
Report from Australia Fundamentals support boom
Gold and platinum group minerals have been the two commodities to excite both mining company management and stock market followers over the past six months. Unlike some earlier booms, the market enthu…
Duration prospectus filed with exchange
A preliminary exchange offering prospectus has been filed by Duration Mines with the Toronto Stock Exchange. The offering, for 400,000 common shares, will be made through the TSE on a day to be determ…
90 barrels shipped from nation’s first oil mine
It cost $50,000 a bbl — about twice the cost of a barrel from the Beaufort Sea or the Arctic Islands — but Devran Petroleum and Shell Canada have made their first shipment of oil from a unique under…
California Gold sees potential for underground deposit
California Gold Mines says results from the first exploration phase of the Alpine mine area of its Zaca gold project in California, point to the potential for a high grade underground deposit. The com…
Pioneer’s Puffy Lake to produce this year
Another primary gold mine will be entering production in Manitoba this year. Pioneer Metals Corp has announced plans for an $18.1 million 500-ton-per-day mine at its Puffy Lake property located 45 mil…
Correction (January 26, 1987)
MSV Resources was incorrectly reported in last week’s issue as being under the wing of Cogesco Resources. That should have read Somicom Management Inc., not Cogesco. MSV has an option to earn a 49% in…
Freeport Gold considers shaft on first project
A number of diversified mining companies have spun off separate gold mining entities in the past two years and the results have tended to be secretive, slow-moving corporate entities. Freeport-McMoRan…