Major General finds copper-zinc zone
Drilling by Major General Resources (MGJ-V) has intersected a base metal zone at the company’s property near Springdale, Nfld.The program tested an induced-polarization anomaly (which extends an addit…
News
Cathedral results show improvement
Figures for the first nine months of 1996 indicate an improved performance by Cathedral Gold (CAT-T).The junior earned $290,000 (or 2 cents per share) over the period, compared with a loss of $941,000…
Formation Capital gains foothold in central Mexico
Junior Formation Capital (FCO-T) has acquired the 12,000-ha Los Cocos gold property in central Mexico.The property, Formation’s first in that country, is in Guanajuato state, 160 km northwest of Mexic…
LatinGold launches exploration effort on gold properties in Colombia
Having acquired six gold properties in Colombia, LatinGold (LAT-T) intends to focus its efforts on developing and acquiring gold and gold-silver prospects in Latin America.LatinGold, formerly MVP Capi…
Spokane reports discovery at Mac property
Diamond drilling on the Mac molybdenum-copper property in north-central British Columbia has uncovered a second porphyry intrusive associated with hydrothermal alteration, silicification and sulphide …
MSV turns modest third-quarter profit
Faced with lower market prices for the red metal, MSV Resources (MSV-T) is continuing to limit production at the Copper Rand and Portage copper mines near Chibougamau, Que.By restricting mining to sto…
Aurex on verge of acquiring San Esteban mine
The majority owners of the San Esteban mine in north-central Chile will sell their 60% share in the gold-copper producer to Aurex Resources (AXR-T) for US$3.3 million.The Vancouver-based junior alread…
EXPLORATION ROUNDUP — Pacific Amber drills Putussibau
A drill program by Pacific Amber Resources (PCR-V) is testing the Sapit-Setul area on the Putussibau property in West Kalimantan, Indonesia.The junior notes that this prospect is the most advanced of …
EXPLORATION ROUNDUP — Bema and Amax turn corner at Refugio
The Refugio gold mine in northern Chile has achieved commercial production levels for partners Bema Gold (BGO-T) and Amax Gold (AU-N).Output for October amounted to 16,700 oz. gold at a cash cost of U…
EXPLORATION ROUNDUP — AmCan busy in Sierra Leone
Diamond production is about to begin from five locations in Sierra Leone, reports AmCan Minerals (AMF-V).The junior intends to use a new, 8-ft dredge, with an onboard washing plant and gold sluice, on…
EXPLORATION ROUNDUP — Drilling program confirms high-grade gold for Mirage
Four holes drilled at Mirage Resources’ (MGP-T) Dorado gold project in El Salvador have returned high-grade gold and silver values.Each of the holes intersected the Minita vein at depths below 185 met…
EXPLORATION ROUNDUP — Rex Diamond sells “Earth Fire”
A 20.2-carat, blue-white gem, unearthed from Rex Diamond Mining’s (RXD-T) Bellsbank mine in South Africa, has been sold for US$605,000 (or US$30,000 per carat) to a Taiwanese diamond dealer.The finish…