News in Brief (January 25, 1988)

Emerald Lake Resources and Highland-Crow Resources have amalgamated into Noramco Mining Corp. each on a share-for-share basis.

Directors of Noront Resources (not:vse) granted stock options to certain employees and directors of the company Jan 7, subject to regulatory approval. Options to purchase a total of 63,200 shares have been granted, 35,000 to employees and 28,200 to directors. All options are exercisable at 50 cents per share.

An interesting survey in 1987, financed under the Canada-Ontario Mineral Development Agreement, was conducted by L. H. Thorleifson of the Geological Survey of Canada and F. J. Kristjansson of the ogs in glacial till in the Beardmore- Geraldton area.

The new ogs preliminary map (P-3105), produced from their work, indicates that local glacial deposits have considerable merit as a geochemical medium — one-third of their till samples had visible gold grains — and that surface sampling of glacial till is a viable mineral exploration tool in terrain composed of this till and bedrock exposure.

New Colony Energy and Interfirst Oil have amalgamated to form Interfirst Resources Inc. (ift:ase). Shareholders of New Colony receive 1-new-share-for-each 4-old shares.

Boca Resources and Dixalta Investments have amalgamated to form Canadian Fortune Resources Inc. (cfd:ase). Shareholders of Boca receive 1-new-for-1-old share.

New Sabina Resources has changed its name to Sabina Resources Ltd. (sbb:vse) on a 1-new- for-2-old share basis.

The Gunnar Gold/Mill City team that forms a part of the Brown Group of Calgary, with treasuries full, will be involved in 15 projects in Ontario, Quebec, Manitoba, Northwest Territories and the U.S. The companies will spend some $6 million in exploration in projects ranging from airborne geophysical surveys covering 50,000 acres of claims near Winter Lake, N.W.T., to detailed diamond drilling of former gold producing mines at Timmins (the Tyranite mine) and at Beardmore (the Sweany gold mine).