Newhawk plans more drilling to test R-8 zone
With a 23,000- ft underground drill program nearing completion on the Sulphurets property north of Stewart, B.C., Newhawk Gold Mines (TSE) is planning to extend the decline (now completed to the 120…
1989
Lencourt seeks financing for African acquisition
Since signing an option agreement to acquire a mining company in Zaire, Africa , Lencourt Ltd (TSE) has been working to complete a due diligence examination of the company’s assets and to arrange the …
Cross Lake, Teck in joint venture
Cross Lake Minerals (VSE) and Golden Dragon Resources (VSE) have signed a joint venture agreement with Teck Corp. (TSE) involving the junior comp anies’ Wilhel mina nickel property near Timmins, Ont. …
Ministers can’t guarantee MDAs
The future of Mineral Development Agreements (MDAs) is far from assured following the 46th annual Mines Ministers conference held here recently. Federal Mines Minister Jake Epp, who co-chaired the con…
INSIDER TRADES (September 11, 1989)
Black Cliff — M. Au sold 189,000 (Aug., private) @ 20 cents to hold 87,500. Brewbac — N. Brewster sold 23,621 (July) @ 10 cents to hold 38,592. Cane — Jonpol bought 40,000 (July) @ 9 cents -10…
Louvem seeking $83 million in damages from partner Aur
Just as they were preparing to go home for the recent Labor Day long weekend, employees at Aur Resources’ (TSE) Val d’Or, Que. exploration office found themse lves facing a law suit from Societe Minie…
People (September 11, 1989)
HALLEY RESOURCES — Roy R. Brown appointed chairman of the board; John F. McIntyre appointed president. ATLAS CORP. — Raymond S. Troubh elected to the board of directors. SOUTHLANDS MINING CORP. — D…
Penzim’s Gulf International in Iskut
With Murray Pezim on board as a director, Gulf International Minerals (VSE) is planning a second-phase work program for its 100%-own ed McClymont Creek property in the Iskut River area of British Colu…
Asarco sells interest in asbestos partnership
A Canadian investor group has purchased the 33.33% interest held by Asarco Inc.’s (NYSE) LAQ affiliate in the LAB asbestos partner ship which operates the wor ld’s largest asbestos mine in Quebec. Th…
Boston Bay has 90% control of Lac des sles
In a recent story on Madeleine Mines, it was stated that Belleterre Quebec owns 90% of The Platinum Group. As that property was owned by Boston Ba y, was tha t company taken over by Belleterre? Please…
Moss gets approval for Power purchase
Toronto-based Moss Resources (ASE) says it has entered into a $500,000 flow-through private placement with Goldnev Resources In other news, Moss says the transfer ot its interests in 21 mineral proper…
Wilanour work on schedule
A major underground and surface exploration program on the former-producing Co chenour Willans gold mine near Red Lake, Ont., is expected to be completed by Oc tober, partners Inco Gold, Wilanour Reso…