Hemlock takes aim at Tres Amigos
Drilling has begun on the Tres Amigos zone of Golden Hemlock Explorations’ (GHE-V) wholly owned San Jose de Gracia project in western Mexico.Infill drilling is testing the continuity of previously ide…
News
Toronto Stock Exchange Indices (June 23, 1997)
1997June 17June 16June 13June 12June 11HighLowCom…
SPOT PRICES (June 23, 1997)
Wednesday, June 18, 1997Price (US)Week’s ChangeGold*$342.05+ $1.65Silver*$ 4.80…
Nu-Lite reworks private placement
Slow markets have caused Nu-Lite Industries (NLE-V) to re-price a private placement.Unable to complete a 2.2-Million unit private placement at $3 each, the junior has arranged with investors to repric…
BASE METALS — Exploration heats up in Northwest Territories
Results from a third phase of drilling on the Bowl Zone prospect near Mazenod Lake, about 160 km northwest of Yellowknife, N.W.T., indicate that mineralization continues to the east.Owner Fortune Mine…
Cameco drops Springpole
Management of Gold Canyon Resources (CGU-V) reports that Cameco (CCO-T) has dropped its option to earn an interest in the Springpole Lake gold project, 113 km northeast of Red Lake, Ont.The project wa…
STOCK MARKETS — Broad market rises as golds and base metals tumble — Platinum falls back to earth as Noril’sk threat is abated
The bulls were riding high, as the Toronto Stock Exchange 300 composite index rose 59.30 points to close the report period ended June 17 at 6,532.34.On June 13 the index hit 6,550.61 points, yet anoth…
Madsen commissions mine
Madsen Gold (MGF-T) has reached the commissioning stage at its namesake mine southwest of Red Lake, Ont.The operation is producing at the projected daily rate of 500 tons, and the average grade stands…
Northern Crown hits Mexican high grade — Work on a prefeasibility study to begin immediately
More high-grade gold and silver have been recorded along the San Miguel-Chiripa zone at Northern Crown Mines’ (NCW-T) Guadalupe de los Reyes project in the western Mexican state of Sinaloa.The San Mig…
PNG mines hurt by prolonged drought
Drought in the highlands of Papua New Guinea (PNG) is hampering mine operations there.At the Porgera gold mine, 50% owned by Placer Dome (PDG-N), mill operations were suspended June 1 owing to low wat…
Misty Mountain unveils new resource
Misty Mountain Gold (MGL-T) has announced a new minable resource estimate for the Specogna deposit in the Queen Charlotte Islands of British Columbia.The deposit, which forms part of the Harmony proje…
Amax buys Russian gold mine
Amax Gold (AU-N) has bought a half interest in the Kubaka gold mine in far eastern Russia from Cyprus Amax Minerals (CYM-N).To complete the transaction, Amax issued 11.8 million shares of common stock…