News in Brief (February 22, 1988)
A proposed merger between Central Crude Ltd. and Noront Resources has been cancelled, both companies say.
News
McKinnon scholarships
Don McKinnon, well known for his role in the Hemlo, Ont., gold discovery, has donated $20,000 in scholarship funds to the Haileybury School of Mines. The funds, to be known as the Don McKinnon Scholar…
La Fosse purchase
Iron ore mining leases in northern Quebec belonging to Hollinger North Shore Exploration have been acquired by La Fosse Platinum. La Fosse gained control of the leases, which also contain manganese an…
Canacord selling 9.9% Premier gold interest
Montreal-based Canacord Re- sources says it is planning to deal its 9.9% interest in the Premier gold project north of Stewart, B.C., to Pioneer Metals. Westmin Resources has the right of first refusa…
Multinational rehabilitating Hunter mine, Timmins
After protracted negotiations, Multinational Resources has concluded an agreement to purchase Du Pont Canada’s Baker mill in the Toodoggone area of British Columbia. For a consideration of $50,000, Mu…
Multinational options Carlin-area property
Multinational Resources has optioned the Emigrant Springs property in Nevada’s Carlin gold belt from a U.S. subsidiary of Teck Corp. The agreement with Teck Resources enables Multinational to earn a 5…
Giant Bay tests bioleaching in several joint ventures
Bullish about prospects for bioleaching refractory gold ore, Giant Bay Resources has entered a number of joint ventures to test the process commercially. Teaming up with Wright Engineers in November, …
Cream Silver drilling sparks environmental uproar at Strathcona
After a 14-year moratorium, Cream Silver Mines was testing the environmental waters when it started drilling a 5-hole program on its polymetallic deposit in Strathcona Park on Vancouver Island. The wa…
U.S. Platinum relocates refinery
One of the few North American companies collecting and refining platinum group metals, U.S. Platinum has moved its refinery from Golden to Denver, Colo. Relocating and streamlining the refinery operat…
Metal Prices FUTURES PRICES (February 22, 1988)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) Feb 108.75 108.00 108.55 + 6.55 Mar 106.75 …
Master rehabilitating Hunter mine, Timmins
Water from the 75-year-old Hunter mine near Timmins, Ont., has been pumped down to the first level. Sheathing is being installed on new surface buildings and drifting should begin underground in early…
Chevron still operator BYG could revive Mt. Nansen
The old Mt. Nansen gold mine near Carmacks, Y.T., could resume production later this year on an open pit basis now that majority ownership is being acquired by BYG Resources. A wholly-owned subsidiary…