NEWS ROUNDUP — Lower grades hurt Glamis
Lower mining grades during the second quarter ended Dec. 31, 1994, adversely affected earnings for Glamis Gold Mines (TSE). The company reported net income of US$95,000 on revenue of almost US$9 milli…
News
NEWS ROUNDUP — Lithos, Raymor strike deal
Two companies — Lithos (ME) and Raymor Resources (ASE) — have acquired a lithium property in Lamothe Twp. in northwestern Quebec. Each company has bought a half interest from Georges Dumont, who wil…
EXPLORATION ’95 — Kennecott plans more Honduran drilling
Results from recent exploration work have prompted Kennecott Exploration to plan further drilling for a gold-copper project in Honduras. The major, which has the right to earn a 60% interest in the pr…
EXPLORATION ’95 — Management of Westmin sees better times
Management of Westmin Resources (TSE) is expecting a significant improvement in its earnings and cash flow this year. Even though it posted a loss of $24.8 million for 1994, somewhat reduced from the …
NEWS ROUNDUP — More ground for Rio Narcea
Junior explorer Rio Narcea Gold Mines (TSE) has acquired mineral rights to three parcels of land in the western half of Spain’s Asturias region. The properties — known as the Navelgas, Oscos and Sala…
Adex announces Tequila Copper deal
TSE-listed Adex Mining reports that its subsidiary, Tequila Copper, has entered into a “letter of understanding” with International Pursuit (TSE) to form a joint venture to develop Tequila’s Asia Paci…
Maj. General to mine Rendell-Jackman
Vancouver-listed Major General Resources intends to mine the Rumbullion and Hammerdown zones as one deposit within the Rendell-Jackman gold property near Springdale, Nfld. The announcement follows con…
EXPLORATION ’95 — Exploration pays off for FirstMiss at
An accelerated exploration program by FirstMiss Gold (NASDAQ) is encountering significant gold mineralization from the Turquoise Ridge deposit at the company’s Getchell mine property, 210 miles northe…
EXPLORATION ’95 — Bathurst camp attracts junior
A junior company is gearing up to test a large property west of the past-producing, base metal-silver-bismuth mine at Nigadoo in the Bathurst camp of New Brunswick. Private company Freegrant Silver vi…
Bre-X has million-ounce resource at Busang project
An independent consultant has determined the Central zone of the Busang gold project in East Kalimantan, Indonesia, has a drill-inferred geological resource of 10.3 million tonnes averaging 1.92 grams…
Falconbridge ups Collahuasi interest
Collahuasi partner Shell Petroleum will sell its one-third interest in the copper deposit in Chile to Falconbridge (TSE) and Minorco for about US$19 million. The two partners will each end up holding …
EXPLORATION ’95 — Aurex makes exploration plans for South
Junior copper-gold producer Aurex Resources (TSE) intends to concentrate its exploration efforts this year on the Talcuna district of Chile, as well as on various properties in Peru and Guyana. Aurex …