Northern Orion tops up treasury
A special warrant financing will raise $40 million for Northern Orion Explorations (VSE).Investment dealers Gordon Capital, Deutsche Bank Securities, Yorkton Securities and Bunting Warburg have agreed…
News
Drilling planned for Atna ground
Drilling will begin in early August on the Foot, Pak and Toe claims in the Yukon.Westmin Resources (TSE) will spend a minimum of $650,000 on the property this year under a four-year, $3-million option…
STOCK MARKETS — Interest rate cut spurs TSE to record highs
A drop in interest rates ignited the Toronto Stock Exchange 300 composite index, which proceeded to blast through three successive record highs during the 5-day report period ended July 11. The compos…
American Bullion finds new zone at Red Chris property
Drilling on the Red Chris property in northwestern British Columbia is firming up a new zone of mineralization for American Bullion Minerals (VSE).The company has drilled eight widely spaced holes on …
EDITORIAL PAGE — The bear facts of geophysics
My first summer job in geophysics was as a horizontal loop electromagnetic (EM) transmitter operator in the Yukon in 1966. The Anvil camp had recently been discovered by Dr. Arro Aho, and an intense e…
Platinova drills turn in Greenland
At the Peary Land zinc project in Greenland, Platinova A/S (TSE) has begun drilling the Esrum gravity anomaly.The first hole intersected 70 metres of massive sulphides containing sub-economic quantiti…
LETTER TO THE EDITOR — Haileybury history is in the works
For the past two years, I have been researching material regarding the history of the Haileybury School of Mines in northeastern Ontario. It is my intention to write a book on the history of this reno…
DIAMOND NEWS ROUNDUP — Tradewinds encouraged at Drybones
Initial caustic fusion tests on drill core from the Drybones Bay kimberlite pipe near Yellowknife, N.W.T., have so far uncovered six macrodiamonds.The tests were carried out on 10 samples which were t…
Anglo eyes gold prospect in Tanzania
Under an agreement with Pangea Resources (TSE), South African-based Anglo American intends to earn a 70% interest in the 100-sq.-km Kahama licence in Tanzania.The agreement calls for Anglo to spend US…
STOCK MARKETS — Western markets in slump as resource index backtracks
Record trading levels in eastern markets proved to be of little help out west during the past week, as the Vancouver Stock Exchange resource and composite indexes both recorded losses.The resource ind…
Rainy River returns mixed results
The latest assay results from core drilled on Nuinsco Resources’ (TSE) property in Richardson Twp., Ont., show long sections of highly anomalous gold, as well as short sections of high-grade gold.The …
Lenora tests Box and Athona gold deposits
Metallurgical tests on the Box and Athona deposits in northern Saskatchewan indicate a gold recovery of 92%, based on a head grade of 0.054 oz. gold per ton.The two deposits, which constitute the Gold…