Cambior receives exploration funds
Two agreements to finance exploration programs for 1987 have been signed by Cambior Inc. The first contract is with CMP 1987 (Quebec) Resource Partnership and Co. Ltd., for the financing of exploratio…
1987
new in brief
Renox Creek Resources has changed its name to Equinox Entertainment Corp. on a share-for-share basis.
Lakeshore program
Geochemical sampling has been completed on Lakeshore Minerals’ property in Maricopa Cty., Ariz. The work has identified several zones of anomalous gold values associated with arsenic and antimony. Du…
Nanisivik mine profitable for MRI
Mineral Resources International reports net income of $4.5 million or 30 cents a share, for the nine months ended Dec 31, compared with a loss of $700,000, or 5 cents a share at the end of 1985. The…
Steep Rock writeoff results in year loss
Steep Rock Resources has written off its $648,208 investment in the Lake St. Joseph iron ore property. The property is near Atikokan, Ont. As a result, the company realized a loss of $188,205 for 1986…
Pine Point reports profit but proceeding with closure
Somewhat ironically, Pine Point Mines reports that in 1986 the company had unaudited net earnings of $2 million, compared with a net loss from operations in the previous year of $2.2 million, before w…
United Reef buys platinum concession
A letter of intent has been signed between United Reef Petroleums and a private company for the purchase, by United, of a 32,000-acre concession in the Labrador Trough. Located in northeastern Quebec,…
Unique platinum play for Eldor, Ellen
A unique showing of platinum mineralization, associated with uranium and gold, is the focus of an exploration program operated by Eldor Resources and funded by partner Mary Ellen Resources. Known as t…
Editorial Ups and downs at the PDA convention
The mood at this year’s convention of the Prospectors and Developers Association of Canada will likely swing somewhere between exhilaration and apprehension. Among the 3,000 or so delegates expected…
Cdn mining not in hopeless state
Mining is a great Canadian success story and is, to a significant extent, responsible for the high standard of living enjoyed by Canadians. It hardly behooves me to tell experts in the mining industry…
Getty to spend $10m. on 1987 exploration
With some excellent gold properties and a working capital of approximately $8.9 million, Getty Resources should be a key player on the Canadian exploration front this year. The company went public las…
Brohm to develop South Dakota bet
With a working capital of $4.3 million, Brohm Resources says it is in an excellent financial position to develop its Gilt Edge project in South Dakota. The company recently completed a private placeme…