Bitech options Kam Creed claims
Bitech Corp. (ASE) has signed a letter of intent to option a gold property in Newfoundland from Kam Creed Mines (TSE). Under terms of the option agreement, Bitech is to make option payments of $60,000…
1989
Chesbar drilling in Chester Twp
A 3,500-ft drilling program has started on Chesbar Resources’ (TSE) Chester Twp. gold property in Ontario’s Swayze greenstone belt. Murgold Resources (TSE) has a 40% interest in the property, 70 miles…
Golden Crescent drilling on two Placer Dome bets
Toronto-based Golden Crescent Resources (ASE) says an 8,400-ft drill program has started on the Detour Lake joint venture property, optioned from Placer Dome (TSE) earlier this year. The property, kno…
Fancamp to explore Mattagami gold bet
Montreal-based Fancamp Resources (VSE) and privately owned partner Fort Rupert Resources are preparing to begin drilling early in 1990 at their jointly owned Lac Marcaut gold-silver property, 136 mile…
Letters to the Editor Which way to Mecca?
In the first half of 1981 in West Africa, as part of a Canadian prospecting team, my duties took me far afield from our base camp. After the usual meeting with the local headman & council, and since m…
First Toronto loss includes writedowns
Writedowns of certain assets contributed to a 9-month loss of $32.5 million ($2.53 per share) by First Toronto Mining (TSE), which has undergone a management change. For the same period last year, the…
Parquet, Cache in option deal
An option has been granted by Parquet Resources (TSE) to Explorations Cache (ME) whereby the latter may acquire up to a 50% interest in the former’s Courville gold property, 30 km northeast of Val d’O…
Black Hawk drilling deep holes at Minago
Two deep holes are being drilled below 1,600 ft to probe for downdip extensions to the Minago nickel deposit in Manitoba, reports owner Black Hawk Mining (TSE). The Minago deposit is 140 miles south o…
Toronto Stock Exchange Indices (December 18, 1989)
1989 Dec 12 Dec 11 Dec 8 Dec 7 Dec 6 HIGH LOW Composite “300” 4002.993989.383982.733969.453951.664037.833353.13 Metals & Minerals 3307.533293.633314.663325.623344.303919.203207.50 I…
News in Brief (December 18, 1989)
Canarim Investment Corp. has changed its name to L.O.M. Western Securities Ltd.
Goldpost signs deal
Goldpost Resources (TSE) has sold its 78.3% share holding in Holcorp Gold Mines for $140,000. Holcorp agreed to sell to Goldpost eight patented claims consisting of surface and mineral rights containi…
Goldex hits zone on Ormico gold bet
Goldex Mines (TSE) says it has intersected a new gold zone while drilling Ormico Exploration’s Val d’Or, Que., claims from the 1,250- ft level on its own ground. Goldex recently completed the work nee…