Vedron exploration
Recently reporting the substantial completion of a program of ramping to the 650-ft level and driving exploration drifts, crosscuts and ventilation and access raises at its Timmins, Ont., property was…
1988
Steel demand gaining in strength
Consumption of crude steel in the non-Communist world is expected to rise by 6% this year over 1987 levels, to 478 million tonnes, delegates to the 22nd annual conference of the International Iron and…
Alberta Stock Exchange Varna leads again
A Calgary-based company topped the most-active list in Alberta again this week. In much lighter volumes of 300,000, Varna Gold traded as high as 50 and as low as 36 . The issue, which has a promising…
Ore Reserve Increase at Gabanintha Mine (October 24, 1988)
A reassessment of the ore reserves at the Gabanintha mine by Dominion Gold Mines of Australia has increased the reserves now drilled out in the current mining area to over 2.2 million tons at an in-si…
Ketza River gets best results yet
The Ketza River gold mine enjoyed its best operating month yet since starting operations last summer. Operated by Canamax Resources (TSE) and held equally with Pacific Trans-Ocean Resources (TSE), the…
Skylark, BP hit sulphides while drilling CM property
Vancouver-based Skylark Resources (VSE) and partner BP Resources Canada (TSE) have hit on a 78-ft intersection of massive and stringer sulphides at the CM claim project north of Kamloops, B.C. The joi…
Sutton drilling at Creede silver property
A deep drilling program is under way on Sutton Resources’ (VSE) Creede silver property located in Colorado. The program consists of two holes, both about 2,000 ft in length, and is designed to test th…
Toronto Stock Exchange Little cheer on anniversary of Black Monday
Investors found little to celebrate today — the first anniversary of Black Monday. Although those wild and tumultuous days of mid- October are behind us, the uncertainty and damage wreaked by the mar…
Atlantic Report Seabright ceases work on Caribou
Westfield Minerals (TSE) of Toronto has completed an additional 4,000 ft of diamond drilling on the Little River property in Newfoundland. Westfield and its joint venture partner Anglo-Dominion Gold E…
Spot prices at a glance (October 24, 1988)
Week’s Price (US) Change Gold (per oz) $410.80 + $6.10 Silver (per oz) $6.32 + $0.06 Platinum (per oz)$539.00 + $22.00 Copper (per lb) $1.37 + $0.10 Lead (per lb) $0.29 -…
FINANCING (October 24, 1988)
VANCOUVER Shoshoni Gold — gross proceeds rec $250,000. Sierra Madre — 400,000 sold for gross $168,000. Marian Minerals — 700,000 sold for gross $245,000. Wirlwind Res — proceeds rec $105,000. Nava…
Northgate’s cash puts Colomac on fast track
Northgate Exploration (TSE) has agreed to provide the remaining financing needed to get the $135- million Colomac gold project into production. The cash-rich company will inject $8 million directly in…