Correction (December 11, 1989)
A tailings treatment project of Giant Yellowknife Mines (TSE) identified (N.M., Dec 4/89) as being in Timmins, Ont., and operating at a breakeven level during the first nine months of 1989 was incorre…
1989
Colony Pacific gets approvals for underground work
The proposed underground exploration program at the Blue Moon project owned 100% by Colony Pacific Explorations (TSE) was recently approved by all the required government agencies. The wait for enviro…
VSE orders new study for Calpine/Prime merger
The Vancouver Stock Exchange has requested officials of Prime Resources (VSE) and Calpine Resources (VSE) to provide shareholders with a new valuation opinion for the proposed merger between the two c…
Asarco earnings rise
Third-quarter net earnings of $52.7 million(US) were reported by Asarco Inc. (NYSE), a 14% increase over restated earnings of $46.2 million for the same period in 1988. Earnings per share amounted to …
Aurizon, Ezekiel await Val d’Or drill results
More results are expected by year-end from a 20,000-ft drilling program on Aurizon Mines’ (TSE) Connell Corner property adjacent to the Aur-Louvem base metal discovery near Val d’Or, Que. The property…
Feasibility study on Goldlund sets capital cost for Camreco
A first-phase feasibility study has been completed for Camreco Inc. (TSE) which examined the costs required to reopen the company’s Goldlund mine near Sioux Lookout, Ont. Completed by Wright Engineers…
Metal Prices PRODUCER PRICES (December 11, 1989)
ALUMINUM: MW U.S. Market US75.50 cents – 77.00 cents per lb. (Nov 21, 1989). ANTIMONY: New York dealer US85 cents -90 cents per lb. (Nov 9, 1989). BISMUTH: New York dealer $4.55-$4.65(US) per lb. (No…
Hecla will spend $6.6 million to boost Republic gold output
A major $6.6- million development program is slated to begin early next year at the Republic gold mine property in northeastern Washington State. For the past five years the high- grade mining operati…
Inco to develop new mine in Sudbury at cost of $179 million
A new $179-million nickel mine is expected to begin production by 1993, Inco Ltd. (TSE) says. Construction of the facility, known as McCreedy East in the Levack area of the Sudbury Basin in Ontario, w…
Perrex amalgamation with private company fails to materialize
Dennis Sheehan and Robert Valliant, two former vice-presidents of exploration for LAC Minerals, have formed a private company to conduct mineral exploration. The two geologists had previously announce…
Tundra, Placer holes
A drill program by partners Tundra Gold Mines (VSE) and Placer Dome (TSE) has intersected narrow intersections of gold-bearing material along the MP zone on the McKenzie property. Near Val d’Or, Que.,…
Drilling begins on Reymont’s claims near Nelson, B.C.
A 10,000-ft diamond drilling program has started on Reymont Gold Mines’ (ASE) Great Western Star copper-gold property near Nelson, B.C. The current exploration program will test at least five separate…