Northern Crown hits Zapote gold
An 85-ft. intersection grading 0.10 oz. gold per ton is reported from the Guadalupe property in western Mexico. It is the first hole reported in a 13-hole reverse circulation program on the property, …
News
Western Quebec buys Central Crude
Small Quebec gold producer Western Quebec Mines (TSE) will pay $9 million to acquire control of Central Crude (TSE) and the Eagle Lake gold deposit in northeastern Ontario. The seller is Hemlo Gold Mi…
Patent is granted in U.S. for magnetic mapping technique
A patent for a new magnetic mapping technique has been granted by the U.S. Patent and Trademark Office to Texaco. The technique, known as STARMAG, can be utilized by mineral and energy companies alike…
PEOPLE — PEGASUS GOLD (January 24, 1994)
Phillips Baker appointed vice-president, finance and chief financial officer.
Eagle gold coin sales rise 34%
Sales of the American Eagle gold coins totaled 514,000 oz. in 1993, up 34% from the previous year, the United States Mint reports. The coins were first offered in 1986. Since then, more than 7 million…
Cons. Professor issuing rights
Consolidated Professor (TSE) is issuing rights allowing shareholders to buy more than 3.5 million shares in the company. Shareholders of record on Jan. 26 will be issued one right for each common shar…
Appeal court favors Seabright
The Nova Scotia Court of Appeal has upheld the decision in the lawsuit between Westminer Canada and the former directors of Seabright Resources. The three judges rejected all seven grounds of the West…
PEOPLE — ASARCO (January 24, 1994)
John Breen appointed unit manager of the Coeur and Galena silver mines; David Young appointed manager of the Troy silver-copper mine; Sidney Lloyd appointed unit manager of the Leadville silver-lead-z…
Metall may go on the block as German parent restructures
The fallout continues from the restructuring of Germany’s giant resource conglomerate Metallgesellschaft (MG). Rumors circulated this week that MG plans to sell its 50.1% interest in Canadian subsidia…
NEW FRONTIERS IN MINING — Placer Dome output hits 1.8m oz.
Among gold mining companies, Placer Dome (TSE) is the largest of the Canadian-based producers. Its global output in 1993 was about 1.8 million oz., a total it is expected to match or better for many m…
Metals sub-index rises as base metals firm up
The metal and mineral sub-index of The Bank of Nova Scotia’s commodity price index rose for the first time since July. Prices for nickel, lead, zinc, potash and precious metals rose in November, more …
Ram hoping to advance Ontario wollastonite deposit
Having processed a bulk sample from its wollastonite property, 55 km north of Kingston, Ont., Ram Petroleum (TSE) is looking to advance the project to production. Last fall, a 150-ton bulk sample was …