New contract to lower costs at Florida Canyon
A new mining contract at the Florida Canyon mine owned by Pegasus Gold (TSE) is expected to lower costs by about US$25 per oz. Mining at the open-pit, heap-leach gold mine near Winnemucca, Nev., is co…
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Chase releases first Taysan assay
Assay results for the first hole of a continuing drilling program on the Taysan copper project in the Philippines returned a number of better than average copper values. Chase Resource (VSE) has an op…
Melinga encouraged by drill results
Drilling on the Macuelizo gold-oxide project in Honduras recently returned encouraging results for owner Melinga Resources (VSE). One hole in a previously untested zone known as the Sugar Loaf Hill re…
Exall testing at Santo Tomas
Testing of the Santo Tomas porphyry copper deposit in the Mexican state of Sinaloa is confirming previous drill results and the presence of a high-grade core area, Exall Resources (TSE) says. The comp…
Significant gold intercept at Verneuil Twp.
A recently completed drill hole on the Verneuil Twp. gold property of Freewest Resources’ (TSE) in northern Quebec appears to have intersected significant gold mineralization. Hole VP92-10, drilled to…
Copper looms large in Rio Algom’s future
Cut loose during a period of depressed metal prices and a stale global economy, producer Rio Algom (TSE) is out to prove it can make it on its own. A major copper project in Chile should give the Toro…
Sagging gem sales hurt Canadian play
Fresh evidence of a deteriorating diamond market threw some cold water on Canada’s diamond exploration play in the first half of January. South Africa’s De Beers, which controls the diamond cartel, sa…
Glen Auden enters diamond hunt
Subject to regulatory approval, Glen Auden Resources (CDN) has acquired a 100% interest in two claim groups north of Kirkland lake, Ont. The claim blocks cover clusters of circular magnetic anomalies,…
Dutch unload gold reserves
The Dutch central bank was reported to have sold 400 tonnes of gold, equal to about one-quarter of its total gold reserves. Analysts said The Netherlands may be using the money from the sale of the go…
NEWS ROUNDUP — Trader releases Mikwam drill results
Vancouver junior Trader Resource (TSE) has completed three additional drill holes on its Mikwam property in the Casa Berardi area of northern Quebec. The holes tested an area of previously known miner…
NEWS ROUNDUP — Noranda cancels Parquet option
Noranda Exploration, a unit of Noranda (TSE), has informed Parquet Resources (ME) that it does not intend to make its next option payment of $40,000 on Parquet’s Duparquet Twp. property near Rouyn-Nor…
NEWS ROUNDUP — Ontario suffers drop in spending
Exploration and development expenditures in Ontario dropped by 31% to an estimated $300.8 million in 1992, according to the Ministry of Northern Development and Mines. General and mine-site exploratio…