NEWS ROUNDUP — Bre-X options Indonesian bet
Calgary-based Bre-X Minerals (ASE) has signed an agreement in principal to earn an 80% interest in an Indonesian gold project. The 57,571-hectare property contains three gold prospects, one of which r…
News
Federal government to sell Cameco shares
The federal government intends to sell half its 19.2% interest in Saskatchewan uranium producer Cameco (TSE) for $102.5 million. Five million shares will be sold to the public at $20.50 per share by a…
Cyprus drops zinc play in Utah
Colorado-based Cyprus Minerals (NYSE) has terminated its option on Noble Peak Resources’ (ASE) Crypto zinc property in Utah. Cyprus optioned the property in 1990 and carried out an exploration program…
Metals sub-index continues decline in March
The metal and mineral sub-index of the Bank of Nova Scotia’s commodity price index appears to be on a downward trend despite the recent surge in gold. The sub-index fell to a cyclical low in March and…
Curragh counting on Asian investors
Cash-strapped Curragh (TSE) says its future depends on a $50-million investment from foreign companies. In a report submitted to an Ontario court earlier this month, Curragh said it is negotiating wit…
Assays finally in on Miramar’s Bruner play
In Nevada, drilling on the Bruner property, owned by Miramar Mining (VSE), has returned encouraging intersections on the Duluth zone and on a previously identified zone southeast of the old Penelas mi…
DIAMOND UPDATE — Aber uncovers seven new kimberlites
Drilling on the Diavik project in the Lac de Gras area of the Northwest Territories has uncovered seven new kimberlite intrusions, reports Aber Resources (TSE). Although bad weather has hampered the e…
New Canamin receives award for reclamation
Following a successful exploration season at the Huckleberry property last year, Vancouver, B.C.-based New Canamin Resources has received a provincial award for successful reclamation of an exploratio…
Mining Week in Nova Scotia and New Brunswick
The first Nova Scotia Mining Week is being staged this week under the theme “If it can’t be grown, it has to be mined.” Sponsors are the Chamber of Mineral Resources of Nova Scotia, the Mining Society…
Laurasia subsidiary options pair of Portuguese properties
A numbered Ontario company, which is a subsidiary of Laurasia Resources (TSE), has an option to earn a 50% interest in two mineral properties in Portugal from Empresa Mineira da Serra do Cercal S.A., …
Wireline boosts exploratory drilling
Mining was flat in the 1950s. Longyear drillers and designers had accumulated more than 50 years of experience drilling in remote locations through a variety of bewildering geological formations. The …
COMMENTARY — Looking overseas for work
It is a double-edged sword that now hangs over the Canadian diamond drilling industry. By working hard, we have earned a worldwide reputation for high standards and efficient production. However, this…