Amendments announced for Ontario’s Mining Act
In an attempt to eliminate red tape and attract investment in Ontario’s mining sector, the Ministry of Northern Development and Mines has revised the province’s Mining Act.The revisions, which the gov…
1997
MOST ACTIVE ISSUES, Feb. 5-11
ExchgVol(000s)ClosePure Gld ResT111890.38Maymac PeteV…
Sumitomo finds joy at Stone Boy
Drill results from the Stone Boy gold property have triggered increased interest in the Fairbanks district of Alaska.The drill program, which returned a 10.4-metre intersection grading 31.8 grams gold…
Bralorne set for reopening
After several years of false starts, the historic Bralorne gold mine near Vancouver, B.C., is scheduled to reopen in mid-March.The mine operated from 1916 to 1971, but low gold prices forced its closu…
THE DIAMOND PAGE — Bulk sample under way at Jericho project
At the Jericho project in the Northwest Territories, diamond explorers Lytton Minerals (LTL-T) and New Indigo Resources (NDR-A) have begun processing a bulk sample of the land-based JD/OD-1 kimberlite…
ODDS’N’SODS — A lunch fit for a mouse
In the 1930s, the Paymaster Consolidated gold mine near Timmins, Ont., was known as the “ham, jam and an orange mine.”When the Paymaster restarted in 1933, for the second time, funds were in short sup…
Metallica makes headway at projects in Mexico and Chile
Reserves have increased substantially at the Cerro San Pedro gold project near San Luis Potosi, Mexico.Metallica Resources (MR-T) reports that oxide reserves now stand at 77.3 million tonnes grading 0…
Ursa Major expands interests in Kazakstan
Junior Ursa Major International (URSA-C) has added a fourth gold property to its portfolio of mineral assets in Kazakstan.The Hamilton, Ont.-based company can acquire a 60% interest in the Nirinsk lic…
Placer Dome drills to a Fault near Detour Lake
Two more holes drilled by Placer Dome (PDG-T) on the Fault Lake property, adjacent to the company’s Detour Lake gold mine in northern Ontario, have intersected gold mineralization.The property, held i…
First Dynasty ups Dublin Gulch reserves
Vancouver-based First Dynasty Mines (FDM-T) reports that reserves at its Dublin Gulch project in the Yukon have exceeded 1 million oz. gold.Based on 1996 drill results, reserves for the Eagle sulphide…
Larder expands Ontario exploration portfolio
A letter of intent with Explorers Alliance sets the stage for International Larder Minerals (LRDR-C) to expand its exploration portfolio in Ontario.Larder plans to acquire all the share capital of Exp…
Third of workforce laid off at Detour Lake
Placer Dome (PDG-T) has laid off almost a third of the workforce at its Detour Lake gold mine in northeastern Ontario.The layoffs — part of a plan to reduce production costs — will affect 103 of 347…