Golden Bear ready to roar in ’96
With new minable reserves calculated for the Kodiak A and Ursa deposits, North American Metals (VSE) is preparing to begin a 170,000-tonne heap-leach operation at its Golden Bear property in northwest…
News
Barrick to develop third mine at El Indio
Exploration at the Chilean project known as El Indio has uncovered a new gold deposit, and Barrick Gold (TSE) expects it will form part of what would be its third mine in South America.The Pascua mine…
METAL PRICES — FREE MARKET (February 05, 1996)
London Metal ExchangeSpot closing prices in $US per tonneDateJan. 30 Jan. 29Jan. 26 Jan. 25 Jan. 24Copper2550-2553 2504-25062497-2502 2548-25532560-2565Lead724-725 716.50-717.5720.5-721.5 7…
Santa Cruz explores Mexican gold project
Trenching on the Escobal gold project in Mexico’s Sinaloa state has enabled Santa Cruz Gold (CDN) to outline gold mineralization.Results include 39 metres of 1.1 grams gold per tonne, 84 metres of 1 g…
Cyprus grabs Taurus by the horns
Now that metallurgical tests have confirmed its expectations for gold recovery, Cyprus Canada will proceed with the next phase of exploration at the Taurus project, near Cassiar, B.C.The company, a wh…
Greenstone expands its Libertad concessions
A US$1.5-million exploration program at the Libertad concessions in Nicaragua is bearing fruit for Greenstone Resources (TSE).Four new zones of gold mineralization have been identified, two of which h…
Amax Gold posts loss for past year
Declining operating costs were not sufficient to stave off a year-end loss for Amax Gold (NYSE).The company recorded a net loss of US$23.9 million (or 36 cents per share) in 1995, which is nevertheles…
Index (February 05, 1996)
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New mining bill receives royal assent
Bill 26 schedule 0 (amendments to the Mining Act) has received royal assent and became effective on Jan. 31, 1996.This affects the reopening time for restaking unpatented mining claims which forfeit u…
Rea Gold seeking another Mt. Hamilton
Rea Gold (TSE) is busy drilling at its Mt. Hamilton mine in eastern Nevada, and results are proving positive.The reverse-circulation program is testing the new Chester gold structure. Forty holes, tot…
More holes drilled at Taylor Brook
The latest hole drilled on the Taylor Brook property of Stratabound Minerals (ASE) shows a wider, but weaker, mineralized zone.Hole 18, collared 100 metres east of hole 17, intersected a 42-metre zone…
Royal Oak acts to remedy low earnings
Washington state-based Royal Oak Mines (TSE) has responded to disappointing year-end results by announcing decisions aimed at increasing the profitability of its gold-mining operations.At the end of t…