Drilling begins at Doyle Lake
Five target areas in Blob Lake, at the Doyle Lake diamond project in the Northwest Territories, have been selected for drilling.Doyle Lake is a 60-40 joint venture between Gerle Gold (GGL-V) and Monop…
News
LATIN AMERICA — Yanacocha number-one gold producer in Latin America
The Yanacocha operation in northern Peru’s Andes Mountains held its status as the top gold producer in Latin America in 1998, turning out 1.34 million oz. with full production from a fourth mine and s…
LATIN AMERICA — Ecuador commissions airborne survey
The government of Ecuador and the World Bank are collaborating on an airborne magnetic survey over the portion of the Cordillera Occidental that occupies the country.Watts Griffis & McOuat and SIAL Ge…
MINING MARKETS & INVESTMENT NEWS — EASTERN MARKETS — Royal Oak Mines slides into receivership
The bell finally tolled for Royal Oak Mines, as the civil court in Ontario withdrew the company’s protection from creditors and placed the company’s assets in the hands of a receiver. The receiver wil…
DIAMOND PAGE — Kennecott finds dyke on DHK claims
Kennecott Canada Exploration has intersected 2.1 metres of a kimberlite dyke while drill-testing an anomaly that lies close to a known kimberlite pipe on the DHK claim block, at the southwestern end o…
LATIN AMERICA — Gammon secures Brenda
Dartmouth-based junior Gammon Lake Resources (GAML-C) has reached an agreement to earn the remaining interest in the Brenda gold project near the city of Ocampo, in Chihuahua state, Mexico.Gammon, whi…
Nasdaq halts trading as Alta files for bankruptcy
With trading of its shares halted, Alta Gold (ALTA-Q) has filed for bankruptcy protection.The Nevada-based gold producer hopes to restructure US$29 million in outstanding debt as well as US$4 million …
LATIN AMERICA — Low copper prices stall Petaquilla
With total minable reserves of 1.1 billion tonnes averaging 0.5% copper, 0.09 gram gold per tonne and minor molybdenum, the Petaquilla property in eastern Panama is one of the largest undeveloped copp…
Copper Ridge gains ground from Kinross
Copper Ridge Explorations (KRX-T) has entered into an agreement to acquire from Kinross Gold (K-T) five mineral properties in the Yukon, Alaska and Arizona.The Vancouver-based junior will lay claim to…
Westward to start program
An option deal will enable Westward Explorations (wwe-v) to earn from Cameco (CCO-T) a 51% interest in the Los Caballos property in Argentina.Cameco identified Los Caballos, which lies near the Chilea…
DIAMOND PAGE — Afridi Lake proves barren
Drilling by Pinewood Resources (PNW-V) at a property in the Afridi Lake area of the Northwest Territories has failed to encounter any kimberlite.Prior to drilling, the Vancouver-based junior evaluated…
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