VSM, Serem-Quebec extend drilling
An additional $420,000 is being allocated to a drilling program under way at the zinc-silver-gold Grevet M property in northwestern Quebec, partners VSM Exploration (ME) and Serem-Quebec report. The f…
News
Star Lake mine closed
The Star Lake gold mine has been closed following the depletion of its orebody, Cameco — a Canadian Mining and Energy Corp. says. Located near La Ronge, Sask., the mine opened in Jan. 1987 wih a 2.5-…
Alberta Stock Exchange Nathan active
There was plenty of activity among resource issues on the Alberta Exchange but most had little to show for it in terms of an increase in their share price. Among the exceptions was Nathan Minerals whi…
Ennex developing Scottish gold mine
A Scottish gold mine is in the works. Broker James Capel recently reported Ennex International is exploring the Cononish property at Crianlarach, 60 miles northwest of Glasgow, and to date has defined…
Earnings Report (March 27, 1989)
ABM Gold Corp. (TSE) reports for the year ended Dec 31 a net loss of $22.9 million(US) or $1.72 per share on revenue of $6.8 million. For the same period a year earlier the company reported a net loss…
Northern to drill Isle Dieu prospect
Five holes representing about 3,500 ft will be drilled by Northern Mining Explorations (ME) at the junior’s Isle Dieu Twp. gold property near Matagami, Que. Second phase of the program will involve an…
Hecla purchasing Apex mine in Utah
The troubled Apex germanium- gallium mine and processing plant in Utah is being acquired by Hecla Mining, which will pay $5.5 million (US) and bring the mine back into production this year. Hecla will…
Bitech expands reserves, plans new work programs
Additional significant results have been obtained from recent drill holes on Bitech Energy Resources’ (ASE) Nugget Pond property near Betts Cove, Nfld. The new results have led the company to increase…
Spot prices at a glance (March 27, 1989)
Price Week’s ($US) Change($) Gold* 393.40 1.05 Silver* 6.06 0.07 Platinum* 544.65 0.90 Nickel** 7.35 0.41 Lead** 0.27 Copper 1.49 0.01 Zinc 0….
Black Hawk drilling Perth graphite bet
A diamond drill program using three machines is continuing on an Ontario graphite property under option to Black Hawk Mining (TSE) from Lodi Metals (VSE). The property is 14 miles southwest of Perth, …
Aur no longer chasing Louvem
A takeover offer by Aur Resources (TSE) of Louvem Mines (TSE) has been terminated. Aur, which would have spent about $8.3 million to acquire about 65% of the common shares of Louvem, a small gold prod…
Sikaman receives portion of securities offering
The underwritten portion of a February securities offering designed to raise $15.5 million has been completed, Sikaman Gold Resources (TSE) reports. Sikaman says it has received $6,726,000 from invest…