Corrections (May 09, 1988)
Incorrect drill results were published in the story “Initial results in from Goldcap bet” (N.M., April 18/88). The correct results of a program on the Tas gold property, funded by Goldcap Inc. (ASE) a…
News
Goldbrae encouraged by results
Drilling will resume this month on the polymetallic Big Island Lake project near Flin Flon, Man., Goldbrae Developments (VSE) reports. The company says 19,000 ft of drilling has been completed to date…
Lower demand, prices seen for copper
There’s no doubt the price of copper, which topped $1.40(US) per lb at the end of 1987 but has settled back into the 90 cents -$1.10 range of late, has spurred mining activity of the base metal. Figur…
Placer Dome buys Eastfield shares
A private placement agreement between Eastfield Resources (VSE) and Placer Dome (TSE) gives the latter the right to acquire up to 40% of the outstanding shares of Eastfield. Subject to regulatory appr…
Old shaft gives access at depth to Newfields-Teck
Use of an old mine shaft is giving Newfields Minerals (TSE) and Teck Corp. (TSE) an exploration head start in the Kirkland Lake area of northern Ontario. The old Lake Shore No 5 shaft will give the co…
Ronrico earns 25% interest in Sikmar bet
A 25% interest has been earned by Ronrico Explorations (VSE) in the Simkar gold project near Val d’Or, Que. An agreement between Ronrico and Fonteneau Resources required the former to spend $2 million…
Ketza ups Yukon gold output
Steeped in the folklore of the Klondike and the great gold rush of 1896, the Yukon Territory is once again making a significant contribution to Canada’s cumulative gold output. But this time the produ…
MSV buys shares in Nova-Cogesco
Recently increasing its interest in Nova-Cogesco Resources (TSE) to about 25%, on a fully diluted basis, was MSV Resources (ME). The latter is buying 690,000 shares of Nova-Cogesco at $1.75 per share,…
Toronto Stock Exchange Short positions show pessimism in base
Falconbridge was the most active issue this week trading more than 1.3 million shares and picking up an eighth to close at $23 1/8. Falconbridge Chairman William James was in the Dominican Republic re…
Cominco driving adit on SNIP gold project
The 300-m level adit at the SNIP gold project of Cominco Ltd. (TSE) and Delaware Resource Corp. (VSE) is progressing on schedule, the joint venture confirms. The Twin zone structure, which hosts most …
Phoenix has loss after McxFinley sale
After selling a 43% interest in the Bateman Twp. project near Red Lake, Ont., Phoenix Gold Mines (TSE) strengthened its cash position in 1987 the company said recently. As a result of the sale to McFi…
Aur set to join ranks of Canadian gold producers
After two years of concentrated exploration at its Val d’Or, Que., land holdings, Toronto-based Aur Resources (TSE) will make its debut this September as a Canadian gold producer. The Toronto company …