News in Brief (February 09, 1987)
Malartic Hygrade Gold Mines has arranged financing for $3.1 million via an issue of flow-through shares to two funds in Quebec. The funds will finance exploration in the company’s Orion property in Qu…
News
Vancouver Stock Exchange Dollar’s rise fuels market volume
Recognizing that a stronger Canadian dollar will lead to lower interest rates, investors are scurrying into equities — both blue chip and speculative. Market volume on Vancouver has been climbing ste…
Mary Ellen signs letter of intent
Mary Ellen Resources has signed a letter of intent with the Saskatchewan Mining and Development Corp. (SMDC) whereby Mary Ellen and Lenora Explorations have agreed to joint venture a 17,000-acre Lodge…
Two rigs at work on Novamin ground
Based on 15 intersections from the Tonawanda property in northwestern Quebec, Novamin Resources has determined that the newly discovered zone has an average grade of 0.25 oz gold per ton across 9.9 ft…
New Beginnings gets funds for exploration
A $1-million flow-through- share-funded exploration program will be conducted this year on two properties held by New Beginnings Resources. At the 59-claim Oskabukuta property east of Hemlo, Ont., New…
Early 1988 production Canamax Ketza R. target
With sufficient oxide reserves for a 5-year mine life, Canamax Resources is completing a feasibility study on its Ketza River project where production could begin in early 1988. Located south of Ross …
Can-Mac drilling high grade veins
Exploration has led to the identification of six gold mineralized zones striking across ground held by Can-Mac Exploration, the company says. The property is located in Davis Twp., east of Sudbury, On…
Greenstrike drilliing Fifteen Mile property
Diamond drilling is under way with a second rig scheduled to arrive on Pan East Resources’ Fifteen Mile Stream gold property in Nova Scotia by operator Greenstrike Gold Corp. The goal of the 3,000-m p…
Tonnage, grade increases on Eureka B.C project.
Eureka Resources reports an independent evaluation of 1986 exploration results on the company’s Frasergold precious metals project in central B.C. has confirmed upgrading of results and tonnage and gr…
Revenues climb but loss recorded for Falconbridge
Thanks largely to its acquisition of Kidd Creek, revenues for Falconbridge Ltd. soared to $1.1 billion in 1986, compared to revenues of $890 million in the previous year. But while zinc and gold reach…
Mineral inventory upgraded by Energex on Toodoggone bet
With the evaluation of last year`s exploration data completed, Energex Minerals reports an upgrade in mineral inventory at its Toodoggone, B.C. property to approximately one million tons grading 0.20 …
Granges options Casa Berardi bet
The 200-claim property of Ram Petroleums in Puiseaux and Brouillan twps. in the Casa Berardi area of Quebec, has been optioned to Granges Exploration. Granges expects to start a diamond drill program …