Dumont drills Cane Springs
A three-hole drilling program at the Cane Springs gold project in western Utah, about 100 miles southwest of Salt Lake City, has turned up altered shear zones along strike from previously known minera…
2003
Bema extends zone at Monument Bay
Drilling at the Monument Bay property in northeastern Manitoba has extended a portion of the Twin Lakes gold deposit.Bema Gold (BGO-T), which is earning an interest in the property under an option fro…
DRC drills Afton
Vancouver — DRC Resources (DRC-T) continues to table encouraging results from infill drilling at the Afton copper project, near Kamloops, B.C.The drilling is part of a prefeasibility study, which wil…
Yandal deadline passes
Newmont Mining has had partial success sorting out the financial problems at its Yandal gold subsidiary in Australia.On March 27, Newmont brashly gave its hedging counterparties and its noteholders at…
Golds add spice to stale market
Vancouver — Canada’s junior exchange maintained its rally over the week ended June 3 as investors nibbled on select gold-related issues. The S&P-TSX Venture Exchange composite index tacked on 5.84 po…
Queenstake buys Jerritt Canyon, again
The sale of the Jerritt Canyon gold mine in Elko Cty., Nev., is on again, following an agreement by owners AngloGold (AU-N) and Meridian Gold (MNG-T) to take shares as partial payment from buyer Queen…
Phelps Dodge settles with New Mexico
Vancouver — The world’s second-largest copper miner has reached an agreement with the state of New Mexico over financial assurances required as part of the closure of its Tyrone, Chino and Cobre oper…
Coeur d’Alene posts loss
The first quarter of 2003 left Coeur d’Alene Mines (CDE-N) with a loss even though revenue and cash flow were substantially increased.A one-time charge of US$28.1 million for early conversion of exist…
Miramar cuts bonanza grades at depth (June 09, 2003)
Vancouver — Miramar Mining (Mae-T) is buoyed by the initial results from a program aimed at testing the depth potential of the Boston deposit on the Hope Bay gold project in Nunavut.Gold-mineralized …
Shareholders OK Gold Summit deal
Shareholders of Gold Summit Mines (GST-V) have approved a reorganization that will see the company take over a large land package in Nevada and California.The reorganization includes a one-for-five ro…
First Quantum profitable (June 09, 2003)
An expansion program and higher head grades enabled First Quantum Minerals (FM-T) to pump out twice as much copper cathode in the recent first quarter as a year earlier.The mid-tier producer mines the…
BacTech gives Tonkin Springs a try (June 09, 2003)
Canadian-Australian junior BacTech Enviromet (YBA-V) has agreed to take a 55% interest in the past producing Tonkin Springs gold mine in Nevada’s Eureka Cty.To do so, BacTech must pay U.S. Gold (USGL-…