News in Brief (November 06, 1989)
Rio Algom (TSE) has declared a semi-annual dividend of 52.5 cents , an increase of 10 cents , on its common shares, payable Dec 4 to shareholders of record Nov 10.
News
Crown Butte, Noranda compiling results on Montana property
Evaluating a mass of recent drill results from the New World gold- silver-copper property in Montana will be a welcome task for partners Crown Butte Resources (VSE) and Noranda Inc. (TSE) this winter….
Ego plans more drilling on N.W.T. lead-zinc property
Final results have been reported from a 12,000-ft drilling program on Ego Resources’ (TSE) lead-zinc- silver property, 15 km north of MacLeod Bay on Great Slave Lake, N.W.T. A phase-two drill program …
LAC doubles Toqui reserves
LAC Minerals (TSE) has expanded reserves at its Toqui zinc mine 1,000 miles south of Santiago, Chile. Drilling has confirmed the continuity of the pollymetallic Dona Rosa deposit southwest of the mini…
Montreal Exchange Hot Freewest results
Exploration news from the Harker-Holloway gold area of northeastern Ontario sparked heavy trading in the shares of Freewest Resources, a junior involved there in a joint venture with Noranda Inc. (and…
NovaGold offers $12 million for Mount Pleasant tin mine
Halifax-based NovaGold Resources (TSE) has signed a letter of intent to acquire the Mount Pleasant tin-tungsten mine in New Brunswick from LAC Minerals (TSE) and Billiton Metals Canada for $12 million…
Hemlo starts drilling Pukaskwa property in Mishibishu area
Diamond drilling has started on the Pukaskwa River gold property under option to Hemlo Gold Mines (TSE) from Mishibishu Gold (VSE) in northern Ontario. The property is about 40 miles west of Wawa on t…
North American Gold
Major North American gold company Corona Corp. (TSE) is determined to retain its status as a low-cost producer, either through the discovery of new properties or the acquisition of other low-cost prod…
Decline in investor confidence
The decline in investor confidence, combined with a marked drop in gold prices, has taken the steam out of exploration and development activities in the Timmins camp — Canada’s most prolific mining c…
Louvicourt discovery fuels search for more sulphides in Val d’Or
The trouble with the Louvicourt Twp. exploration camp east of Val d’Or, Que., is that the emphasis has always been on gold, says prospector Jack Stoch. The Globex Mining (ME) president was referring t…
Stewart Lake seeks funding to develop graphite property
Development and mill construction of the Kirkham flake graphite project of Stewart Lake Resources (TSE) could be under way by mid-1990 and the mine in production by the end of that year. Annual output…
El Recio results encourage Greenstone
An underground exploration drift on Greenstone Resources’ (TSE) El Recio property in Costa Rica has yielded encouraging results in one of several veins being explored by the Toronto-based junior compa…