Royal Oak boosts output
Record gold production of 318,171 oz. in 1994 generated $33.2 million in operating cash flow for Royal Oak Mines (TSE). Net earnings for the year amounted to $22.1 million on revenue of $162.1 million…
News
Sikaman boosts stake in projects
Toronto-based Sikaman Gold Resources (TSE) has concluded negotiations with Cormine S.E.P. to acquire a 100% interest in the Neuquen and Cerro Mayal gold projects in the province of Neuquen, Argentina….
Prospectors vote for name change
Members of the Prospectors Club in Nova Scotia voted recently in favor of a name change: the Nova Scotia Prospectors Association. Douglas Boddy of Lower Five Islands was elected president. He is joine…
LATIN AMERICA SPECIAL — Sonoma eyes Panamanian prospect
Vancouver-based junior Sonoma Resource (VSE) can acquire a half interest in two Panamanian projects from a unit of Cyprus Amax Minerals (NYSE). The Quebrada Barro and Quebrada Iguana copper-gold prosp…
Ego secures inventory funding
Financing worth up to US$4 million has been secured by Ego Resources for startup of its Cobatec cobalt recovery plant near Cobalt, Ont. Ego has reached an agreement with Amalgamet Canada to finance it…
PEOPLE — ROYCEFIELD — John Harvey, Paul Legere and Wayne
Russell Meares appointed manager of exploration for Australia.
Phoenix project takes flight
The board of directors of Battle Mountain Gold (NYSE) has authorized development of the Phoenix project at the Battle Mountain gold complex in Nevada. The open-pit, heap-leach project is centred aroun…
Lenora drilling Althona deposit
As part of a feasibility study of the Goldfields project in northern Saskatchewan, Greater Lenora Resources (TSE) will carry out three drill programs concurrently. A 16,400-ft. infill program is alrea…
Quebec mines add lustre to MSV
Substantially higher revenue and earnings were enjoyed by MSV Resources (TSE) in 1994, compared with 1993. Greater production and improved metal recoveries enabled the company to almost double revenue…
LATIN AMERICA SPECIAL — Metates poses challenges for project
The Metates gold deposit in Mexico’s Durango state hosts a preliminary inventory of more than 200 million tonnes grading 1.2 grams of gold equivalent per tonne. Gold and silver account for about 80% a…
Drilling extends two zones at Sleeping Giant
Two holes drilled from the new third level of the Sleeping Giant gold mine have confirmed the continuity of Zones 20 and 30 at depth. The mine, found 80 km north of Amos, Que., is owned equally by Aur…
Tri Origin furthers work at Lewis Ponds
The Australian-based subsidiary of Tri Origin Exploration (TSE) has intersected significant mineralization in three of four holes drilled on its Lewis Ponds polymetallic property in New South Wales. H…