Ashanti plans friendly takeover of Samax Gold
Though no formal offer has been made, Ashanti Goldfields (ASL-N) says it intends to acquire London-based Samax Gold (SMX-T) as a means of augmenting its existing holdings in Tanzania.Ashanti plans to …
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LATIN AMERICA — Cambior’s Omai mine aims to sustain production levels — Plan hinges on development of soft rock reserves at mine site in northeastern Guyana
With operations now running smoothly at the Omai gold mine in Guyana, owners Cambior (CBJ-T) and Golden Star Resources (GSC-T) are paying extra attention to lowering production costs and searching for…
LATIN AMERICA — LatinGold plans more work for Pinguicos
Toronto-based LatinGold (LAT-T) plans to carry out a follow-up drill program at the Pinguicos property near Guanajuato city in central Mexico. The gold-silver project is adjacent to Penole’s Las Torre…
LATIN AMERICA — General moves Vizcachitas to feasibility — Combined mill and SX-EW project to cost US$276m
Undaunted by the loss of a partner in developing its Vizcachitas project in central Chile, General Minerals (GNM-T) has announced it is going ahead with a bankable feasibility study.An initial feasibi…
LATIN AMERICA — Takla Star hits gold in Bolivia
Drilling by Takla Star Resources (TKR-A) at the Orkho Pina property in western Boliva has cut wide zones of low-grade gold and zinc mineralization.Four of the five holes drilled returned one mineraliz…
LATIN AMERICA — La Salle yields more gold
Toronto-based Chesbar Resources (CBI-M) has released additional results from drilling at the La Salle I gold property on its Anacoco IV concession in Venezuela’s Bolivar state.The 41-hole, 5,000-metre…
Independence options Buckhorn South
Independence Mining has exercised an option with Royal Gold (RGLD-Q) for the Buckhorn South property in Eureka Cty., Nev.Independence, a wholly owned subsidiary of Luxembourg-based Minorco (MNRCY-Q), …
METAL PRICES (September 07, 1998)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateSept. 1Aug. 31Aug. 28Aug. 27…
AZCO gains foothold in Mexico
Vancouver-based AZCO Mining (AZC-T) has acquired an option to earn a 70% interest in La Adelita, a copper-gold-silver prospect in Mexico’s Sonora state.In return, the junior is required to spend US$50…
Rex reports discovery in Mauritania
A sampling program by Rex Diamond Mining (RXD-T) has resulted in the discovery of two diamonds found in two samples at the El Hammami lease in northern Mauritania.The samples were taken as part of a s…
LATIN AMERICA — Ballad, Unuk begin drill program in Peru
Drilling has begun on the Las Princesas project of Ballad Enterprises (BDC-V) and Unuk Gold (UNK-V) in northern Peru.Drilling on the Northern zone will consist of 10 holes over 1,200 metres. The miner…
LATIN AMERICA — Patagonia projects come of age — Minera Andes, Yamana among juniors active in Argentine region
Encouraging results released during the South American winter are setting the stage for what could be a pivotal exploration season in the Patagonia Plateau of southern Argentina.Junior companies activ…