NEWS IN BRIEF (June 23, 1997)
First Impression Singles (FIM-V) has changed its name to Global Explorations (GXC-V).
News
Private donations expand — U of T’s geological research — Geology and physics departments get $1 million each
The University of Toronto has received two separate donations that will lead to the creation of chairs for ore genesis geology and exploration geophysics, within the departments of geology and physics…
Drills hit at Duquesne West
Recent drilling by Sante Fe Canadian Mining, a unit of Newmont Gold (NGC-N), has tested a geophysical anomaly at the Duquesne West gold property near Rouyn-Noranda, Quebec.The company is earning an in…
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…
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…