NEWS ROUNDUP — USMX extends program
A stock repurchase program in which up to 300,000 common shares of USMX (NYSE) were to be acquired has been extended. The program was to have expired Dec. 31, 1994, but was extended until March 31, 19…
News
Pan Pacific pursues interests in Asia
To position itself closer to its exploration projects in Southeast Asia, Vancouver-based Pan Pacific Gold (VSE) is establishing two base operations, one in Hanoi, Vietnam, and the other in Beijing, Ch…
Kennecott drills Milagro property
Salt Lake City-based Kennecott Exploration has drilled six widely spaced HQ holes (2.5 inches in diameter) on a gold-copper property in Honduras. The 52-sq.-mile concession is held by Milagro Minerals…
Castle Minerals in Mexico
A name change has been proposed for Castle Minerals (VSE), along with a share consolidation on a 2-for-1 basis. (The company has 30.6 million common shares outstanding.) In other activities, the junio…
Santa Catalina boosts reserve
The estimated geological reserve at the Oracle Ridge underground copper mine near San Manuel, Ariz., has expanded. The estimate is now calculated as being 8.1 million tons (proven and probable) gradin…
Haddington, Portman drill three plays
Partners Haddington Resources (VSE) and Portman Explorations (VSE) will drill nine targets on a ground position west of New Liskard, Ont. The targets were delineated by spectral induced-polarization (…
Armistice sampling program continues
Bulk sampling under way at Armistice Resources’ (ME) gold property in Virginiatown, Ont., could lead to a small-scale mine. The junior, which remains committed to the idea of proving up reserves below…
Canmine drilling FER project
A 13,500-metre drill program has begun on Canmine Resources’ (ASE) FER base metal project near Flin Flon, Man. The program will test the Island zone, which is interpreted to consist of massive sulphid…
Continental Caretech earns stake in Dryden property
Having just completed a drilling program, Continental Caretech (CDN) has incurred the necessary expenditure to earn a half interest in the Thunder Lake West gold project near Dryden, Ont. The 10-hole …
NEWS ROUNDUP — Eastmain gets properties in Timmins camp
CDN-listed Eastmain Resources has acquired two 160-acre properties near the Kidd Creek copper-zinc-silver mine in Timmins, Ont. To acquire the South property, the junior must pay $330,000 over five ye…
STOCK MARKETS — 1994 trading helps VSE approach near
Trading and financing approached near records for the Vancouver Stock Exchange in 1994. Financing raised through the exchange totalled $1.27 billion, which, in the exchange’s 87-year history, ranks se…
PEOPLE — PLACER DOME LATIN AMERICA
W. Hayes appointed president and chief executive officer.