NEWS ROUNDUP — Echo Bay buys Etruscan shares
Denver-based Echo Bay Mines (TSE) intends to buy 192,308 common shares of Etruscan Enterprises (VSE) at $2.60 per share. Proceeds of $500,000 will be used by Etruscan to explore the Koma Bangou gold p…
News
New mining plans for Keely Frontier
Plans to rework the old Keely Frontier mine in northeastern Ontario for its cobalt are in the works. Transway Capital (CDN) has entered into an agreement with Sassoon Metals of Switzerland to raise $5…
Noranda funds work in Panama
Reconnaissance silt sampling is set to resume on the Rio Veraguas and Guayabal concessions of Western Keltic Mines (VSE) in Panama. Noranda (TSE) will provide $75,000 towards a $105,000 program aimed …
NEWS ROUNDUP — KRL explores ground in Ontario
Junior KRL Resources (VSE) has begun exploring two Ontario projects. In the Shining Tree area, the junior is drilling three or four large-diameter boreholes under the main showing of the Cooke gold zo…
NEWS ROUNDUP — Pathfinder jumps for Joy
In addition to acquiring a listing on the Vancouver Stock Exchange, Pathfinder Resources has begun exploring the Joy copper-zinc property near Red Lake, Ont. The junior can earn a 25% stake in the pro…
Caledonia boosts stake in Spanish gold mine
Toronto-listed Caledonia Mining has bought an additional 15.2% interest in the Filon Sur gold mine in Spain for US$1.3 million. This raises to 98.4% the company’s ownership in the project. Since 1988,…
Zappa drills Ponce Enriquez in Ecuador
Drilling by Zappa Resources (VSE) has uncovered widespread, low-grade gold mineralization at the Ponce Enriquez project in southwestern Ecuador. Work to date has focussed on two gold zones, the Guadal…
Mine yard scrap proves valuable
At the South mine of Inco near Sudbury, Ont., what began as scrap in the muck has evolved into big bucks in the backyard. Armed with only a suspicion and the co-operation of their fellow miners, suppl…
Shareholder boosts stake in Nuinsco
Private Bahamian corporation Wincro has acquired an additional 600,000 shares of Nuinsco Resources (TSE) at 50 cents each. The purchase, from a group of Nuinsco shareholders, increases Wincro’s intere…
Band-Ore, partners drill property near Timmins
A new gold discovery has been reported by Band-Ore Resources (CDN) on its Thorne property, 10 km west of Timmins, Ont. The first drill hole intersected a 70-ft.-wide mineralized and altered zone which…
Study calls for for production at Nixon Fork
An updated feasibility study gives the thumbs-up to the Nixon Fork gold project in west-central Alaska. Consisting of a 60,000-oz.-per-year underground mine and a gravity-flotation mill, Nixon Fork is…
Summo sizes up Lisbon Valley
A feasibility study is under way on the Lisbon Valley copper project in southeastern Utah. Summo Minerals (VSE) has enlisted Salt Lake City-based Roberts & Schaefer to determine the economics of an op…