Base-metal discoveries needed now: ministry
The search for new mineral deposits in Canada in recent years has favored gold to the exclusion of base metals, say a couple of officials with Energy, Mines and Resources Canada who think the “period …
1988
Galactic earnings drop
A delay in the start of the 1988 mining season and debenture issue costs totalling $1.932 million(US) led to a seasonal second quarter loss of $4.348 million for Galactic Resources (TSE), up considera…
Alberta Stock Exchange American Ore active
Although its not ore yet, mineralization in two drill holes created a flurry of trading in American Ore this week. Each hole intersected quartz and carbonate veining in multiple shear zones on a joint…
New Pacer Dome appointment signals emphasis on mining
Placer Dome Inc. (TSE) has re-affirmed its commitment to focus on gold mining by appointing Anthony Petrina as the company’s new president and chief operating officer. A former hard rock miner from Su…
Geraldton pleased with trench results
Trenching by Geraldton Longlac Gold Mines (COATS) has produced encouraging gold values. A mineralized zone was trenched along 80 ft of strike yielding assays up to 0.24 oz gold per ton across 6.5 ft. …
Ennex still needs permits at Scotland-based gold bet
Encouraging results have been reported from a number of international exploration projects held by Ennex International. A loss of $341,000 or 41 cents per share was recorded by Ennex during the six m…
Minister for mines dropped in cabinet shuffle
For the first time since 1980, Canada is without a federal minister of state for mines. The change, part of Prime Minister Brian Mulroney’s recent cabinet shuffle, has so far drawn mixed reactions fro…
Financing (September 26, 1988)
ONTARIO Alterio — final rec iss offer min 625,000 & max 1,250,000 @ 80 cents per unit to net min $465,000 & max $930,000. VANCOUVER Camas — gross proceeds rec $200,000. Gold Torch — gross proceeds…
Cash-strapped Abermin sells Lara property to its partner
Strapped for cash because of problems at its Tartan Lake gold mine in Manitoba (N.M., Sept 5/88), Abermin Corp. (TSE) has been forced to sell one of its key mineral properties, the Lara project on Van…
People (September 26, 1988)
SHILOH RESOURCES — Thomas O’Connor appointed to the board of directors succeeding Mervin L. Judd who has resigned.
First gold bar for Bond Int’s
The first gold bar has been poured from the Golden Patricia gold mine owned by Bond Gold Canada, a wholly-owned affiliate of Bond International Gold (NYSE). Located west of Pickle Lake, Ont., the mine…
Fischer-Watt drills Delamar property
A 5,000-ft exploratory drilling program has been completed by Fischer-Watt Gold Company on its Delamar property in Lincoln Cty., Nev. The company controls 144 claims in the district with six identifie…