Goldcorp finances Red Lake work
TSE-listed Goldcorp is spending $10 million on exploration and development at its Red Lake gold mine in Balmertown, Ont. The program, expected to last two years, consists of 200,000 ft. of exploration…
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Minera Rayrock producing and exploring in Latin America
Significant developments are reported from three of Minera Rayrock’s (TSE) projects in Chile and Costa Rica. The Ivan copper project in northern Chile recently entered production. In January, it yield…
Adex Mining drilling boosts Mt. Pleasant reserves
A “wildcat hole” has Adex Mining (TSE) confident that tin mineralization is continuous between two known structures at the Mount Pleasant mine property in New Brunswick. Adex is funding prefeasibility…
Lower earnings for FMC Gold
New York-listed FMC Gold reported net income of US$600,000 for the recent fourth quarter, down $2.5 million from the same period last year. The closure of the Paradise Peak mill in Nevada and the Roya…
Falco results signal turnaround
Higher nickel prices and increased output enabled Falconbridge (TSE) to post solid results for both the fourth quarter and the past year. For the quarter, the company earned $81.4 million (or 46 cents…
ITEC to expand plant facilities
A subsidiary of St. Genevieve Resources (TSE), ITEC-Mineral, has determined that it can recover economic quantities of precious metals from tailings at its Norbec-Manitou mill in Val d’Or, Que. The su…
NEWS ROUNDUP — Bethlehem merging with Imperial
Two TSE-listed exploration companies, Bethlehem Resources and Imperial Metals, will merge. Bethlehem shareholders will receive one share of Imperial for every three shares tendered, or 50 cents in cas…
OBITUARY — Younie a career diamond driller
The former owner of Hydracore Drills of Richmond, B.C., Truman Younie, died recently of a heart attack. He was 67. Younie spent his entire career in the diamond drilling industry, having started in 19…
Hycroft Resources updates reserves at Crofoot-Lewis
Production at the Crofoot-Lewis open pit gold mine in Nevada increased 10% between 1993 and 1994. Owner Hycroft Resources & Development attributes the rise (94,868 oz. compared with 86,516 oz.) to tri…
STOCK MARKETS — Looming federal budget overhangs jittery
Fears over what the upcoming federal budget holds in store kept investors on the sidelines and led the Toronto Stock Exchange to post a modest loss for the 5-day report period ended Feb. 21. The compo…
Copper output forecast to rise in the Philippines
The Philippine Chamber of Mines expects the country’s copper concentrate production to rise this year on the back of higher international copper prices and lower government taxes imposed on corporate …
Diamond Fields reports new Voisey Bay results
Results are now in from the last three holes drilled at Diamond Field Resources’ (TSE) Voisey Bay nickel-copper project on the northeastern coast of Labrador. Early drilling (holes 94-1 to 94-4) focus…