News in Brief (June 19, 1989)
The date for the separation of the seven million units issued last month by LAC Minerals (TSE) consisting of one common share and one-half warrant — 1989 series, will be June 19, the company reports….
News
McChip to drill Timmins gold bet
Additional diamond drilling is planned this year on a Timmins area gold property under option to McChip Resources (TSE) from Noranda Exploration. Under the terms of an option agreement, McChip has the…
Minority shareholders delay Falconbridge’s Raglan deal (June 19, 1989)
A small group of New Quebec Raglan Mines (TSE) shareholders is still holding out for a higher price on shares that Falconbridge Ltd. (TSE) is attempting to buy. While the Toronto-based nickel giant wo…
St. Genevieve buying Pamorex interest in bet
A letter of agreement has been signed between St. Genevieve Resources (TSE) and Pamorex Minerals (TSE) whereby St. Genevieve will acquire the 50% interest of the latter in the Granada property in Rouy…
Downturn offers Equinox opportunity
While many of its competitors are bemoaning current market conditions and metal prices, Equinox Resources (TSE) views the downturn in the context of a previously successful investment strategy. Under …
Southern Era Options Costa Roca gold mine
SouthernEra Resources (TSE) has acquired an option to earn a 50% interest in the Macacona gold mine in Costa Rica. Owned by Equinox Resources (TSE), the mine is a small heap leach operation having pr…
Guinness, Power release results
Partial assay results were released recently from the Guinness Gold (ASE), Power Exploration (TSE) joint venture project at Randall Lake in northwestern Ontario. Under an agreement, Guinness is entitl…
Editorial Universality will break the country
If the Canadian government is ever going to gets its deficit whittled down, it is going to have to take more drastic action on spending cuts than it has. There’s no way any impact can be made by makin…
Amalgamation creates Cons. Abitibi Res.
Shareholders of three related companies in northwestern Quebec have approved the amalgamation of the companies into one, the new corporation to be known as Consolidated Abitibi Resources. Approval for…
Jonpol,T & H sinking shaft in Garrison Twp
A $2-million underground exploration program has started on a Garrison Twp., Ont., gold property owned by associated juniors Jonpol Explorations (TSE) and T & H Resources (TSE). John Pollock, presiden…
Giant Yellowknife selling Ross mine
The producing Ross mine in Hislop Twp. west of Timmins in northern Ontario is being sold by Giant Yellowknife Mines (TSE) to a private company. The buyer is Preston Electrical & Mechanical Ltd. of Tim…
Montana silver project owes its prospects to persistence
From a speech by Frank Duval, President of Montana Reserves Co., at the Montana Mining Association’s centennial convention. Big miners move mountains of ore and mountains of money, but they don’t make…