Santa Fe, Newmont set date for merger vote
Shareholders of Santa Fe Pacific Gold (GLD-N) will meet in a special meeting on May 5 in Albuquerque, N.M., to discuss a proposed merger with Newmont Mining (NEM-N).Newmont and its 91%-owned subsidiar…
1997
NovaWest options Raglan properties
Vancouver-based NovaWest Resources (NVE-V) is optioning five additional properties in the Raglan nickel-Copper-platinum camp on the Ungava peninsula of northern Quebec.The newly acquired properties co…
Sur American Gold postpones $8.5-Million financing
Sur American Gold (SUR-A) has postponed its recently announced $8.55-Million financing in light of the ongoing market turmoil surrounding Bre-X Minerals (BXM-T).The financing, along with $2.4 million …
Houston Lake extends gold zone at Dogpaw Lake — Junior company options formerly producing Arrow and Vimy mines
Drilling on the Dogpaw Lake property in northwestern Ontario has enabled Houston Lake Mining (HLM-A) to more than double the known strike length of gold mineralization.Houston Lake holds an option to …
Cons. Callinan returns mixed results from Lynn Lake
Diamond drilling at the Lynn Lake property near Flin Flon, Man., has returned lower gold grades and higher base metal values than previous intercepts.The assays also confirmed the continuity of minera…
Southern Peru gets funds for expansion
Having arranged a multi-Million-dollar loan, Southern Peru Copper (PCU-N) is embarking on a program aimed at expanding and modifying its operations.The first stage in the project calls for expansion o…
Digger drills core at Copperhead gold project — Sister company Cepeda also drilling in Carolinas
The coastal plain of North Carolina is giving up a few of its secrets now that Digger Resources (DIG-V) has begun core drilling at the Copperhead gold project.Since 1996, when drilling began, Digger h…
Friedland sues United States — Former mine owner seeking damages
The first wayward trickle from the ill-fated Summitville gold mine led to a flood of environmental and legal controversy — and it’s not over yet.Canadian lawyers representing Robert Friedland (inset)…
CIM to focus on Central America
Heap-leach gold operations in Central America will be discussed at a luncheon hosted by the Canadian Institute of Mining, Metallurgy & Petroleum, to be held at 12 noon, Thursday, April 17 at Toronto’s…
LME WHSE LEVELS (April 07, 1997)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Mar.31/97 (change from previous week in brackets):Aluminium853,000(-2,525)Copper177,250(-6,225)Lead106,925(-500)Nickel47,862…
Bre-X’s credibility undermined as suspicions mount — Assay lab’s results are only as good as the samples it receives
A month ago, it was reputed to be sitting on the largest gold find of the century, but the ground is now shaking beneath Bre-X Minerals (BXM-T), operator of the Busang gold project in eastern Kalimant…
LATIN AMERICA — Consolidated Nevada irons out wrinkles in Mexico — Mines acquired in 1996 merger experience various setbacks
Four mines recently acquired in Mexico by Consolidated Nevada Goldfields (KNVCF-Q) are yielding mixed results.The Denver-based company took on the mines following a merger, in October 1996, with Mexic…