U.S. REPORT Hemlock options Nevada gold bet
Golden Hemlock Explorations (VSE) has signed a letter of intent to earn a 50% interest in Golden Quail Resources (VSE) gold property in San Bernadino Cty., Calif., 60 miles south of Las Vegas, Nev. He…
1991
Thompson Belt, Flin Flon attract most attention in Manitoba
Projected exploration expenditures in Manitoba in 1990 are expected to be slightly lower than the estimated $40 million spent in 1989. Claim staking in 1990 was down 30% as compared with 1989 but more…
Columbia planning drilling on Spectrum
After a successful exploration program in 1990, Columbia Gold Mines (VSE) plans to spend about $1 million on the Spectrum property in northwestern British Columbia during the coming season. Columbia i…
Gulf puts Asamera back on the auction block
Even though the company was formally taken off the auction block in May of last year, Asamera Minerals (TSE) is once again being offered for sale by a unit of its parent company, Gulf Canada Resources…
Copper price forecasting difficult
The cash price of cash copper on the London Metal Exchange (LME) went from US$1.34 on Sept. 3, 1990, to US$1.53 Sept. 17, to US$1.26 on Oct. 1, and finally to US$1.07 on Jan. 30, 1991. Furthermore, LM…
Busby steps down from juniors
Donald Busby, a well-known promoter and financier, has resigned as a director of International Mahogany (TSE) and Kap Resources (VSE). International Mahogany holds a 70% interest in the Jolu gold mine…
FINANCING (March 25, 1991)
Moraga Resources Ltd. — 1,000,000 units consisting of 1 sh and 1 wt offered @ 74 cents per unit. Golden Eagle Resources Ltd. — 1,500,000 shs offered @ 10 cents per unit.
EDITORIAL B.C. might be ready for a smelter now
There will be big things happening in British Columbia’s mining industry for the rest of this century, big enough to warrant raising the old question of whether the West Coast needs a copper smelter. …
Longold acquires Benoit properties
Vancouver-based Longold Resources (VSE) has acquired two properties in Benoit Twp., Que. where several juniors have recently become active following a recent gold discovery by TSE-listed Freewest Reso…
Rio Algom targeting base metals in new ore search
Toronto-based Rio Algom (TSE) is spending about $20 million this year as part of an aggressive exploration effort to locate new base metal and gold deposits in Canada, says Exploration Vice-President …
Aur plans 2 shafts at Louvicourt, surface drilling continues
Out of the news lately but still busy, the partnership of Aur Resources (TSE) and Societe Miniere Louvem (TSE) is moving fast toward the critical development stage at its Louvicourt Twp. base metal jo…
Toronto Stock Exchange Freewest up as market considers economic
With little else to focus on apart from weak gold prices and a flurry of mixed economic signals, confused investors elected to stay out of the market during the week ended March 19. Although Finance M…