NovaGold drills copper below planned gold pit
A 15-hole drilling program has started on the Murray Brook property, west of Bathurst, N.B. The target is base metals, not gold. Project operator NovaGold Resources (TSE) is drilling the holes to prov…
1989
Gamsan intersects deep sulphide zone
A recently completed deep drill hole on Gamsan Resources’ Brabant Lake property in northern Saskatchewan has intersected significant sulphide mineralization. Hole 88-11, drilled to a depth of more tha…
Oneida Res. options Arizona gold claims
An Arizona precious metals property has been acquired recently by Oneida Resources (VSE). .T The property, known as the Mexican Hat project, is located in Cochise Cty., Ariz., about 80 miles southe…
Toronto Stock Exchange Firming golds and base metals move indices
A round of buying has pushed the composite index back over the 3600-pt mark. Today’s trading saw 11.67 pts added to the index which closed at 3632.42 pts on volume of 24.9 million shares. The week lon…
CIM-NB gives grant to school
Officers of the New Brunswick Branch of CIM met recently with students and teachers at Fredericton High School to present a grant to the school’s geological studies program. Seen here, John Stirling, …
Noramco Mining tallies massive loss
The loss tallied $61,394,000 by Noramco Mining (TSE) for the first nine months of its current fiscal year testifies to a succession of exploration and development disappointments compounded by the clo…
Treminco targets mill start-up for May
By May of this year, Treminco Resources (TSE) expects to have completed construction of its own 200-ton-per-day mill on the Ptarmigan mine site located about 12 miles from Yellowknife, N.W.T. The new …
Metal Prices FUTURES PRICES (March 13, 1989)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) Mar153.50 150.00 150.10 + 13.40 May145.60 142.30 144.00 + 12.80 Jul138.30 135.30 137…
Platinova, partners plan to dredge for aggregate in Lake Ontario
Toronto-based junior Platinova Resources (TSE) is planning to dredge Lake Ontario for fine aggregate for sale to the concrete industry. Using Scandinavian dredging technology, Platinova and its partne…
Minven initiates study on conventional milling
The feasibility study for a conventional milling operation at Minven Gold Corp.’s (TSE) Gilt Edge mine in South Dakota has been awarded to Bechtel Inc. of San Francisco. The study, which will consider…
Correction (March 13, 1989)
The tonnage range given for the sulphide lenses on the Cominco/ Redfern Tulsequah Chief project was misstated (N.M., Mar 6/89). In fact, the sulphide lenses ranged from 50,000 to 400,000 tons.
Dofasco’s Ontario mines set to close next year
Hamilton-based steelmaker Dofasco Inc. (TSE) recently announced plans to discontinue operations at its two northern Ontario iron mines. The Adams Mine at Kirkland Lake and the Sherman Mine at Temagami…