Saudia Arabia an oasis of exploration
Saudi Arabia is known primarily for three things oil, sand and petro-dollars. The Saudis want to add metal mining to that list. Few people regard the desert kingdom as holding out much hope for base o…
News
Equinox merger
The directors of Hecla Mining (NYSE) have approved a merger with Equinox Resources (TSE). Each company has satisfactorily completed its due diligence review, though the proposal is still subject to ex…
NEWS ROUNDUP — Altai studies Tassawini project
Junior Altai Resources (TSE) will complete a final feasibility study of the Tassawini gold project in Guyana. The property is a 50-50 joint venture with Menora Resources (ME). Altai is the operator. A…
Brimstone reserve skyrockets
Additional drilling this year on the Brimstone deposit at the Crofoot-Lewis heap-leach mine in Nevada has boosted the resource estimate by more than 60%. Owner Hycroft Resources & Development (VSE), a…
WCB rates to decrease for most miners in Ontario
At a time when its reputation is being seriously damaged by claims of financial mismanagement, the Ontario Workers Compensation Board (WCB) is sending a mixed message to the provinces mining sector. A…
CIMMER database now on diskette
The Centre in Mining and Mineral Exploration Research (CIMMER) of Laurentian University in Sudbury, Ont., says its Mining Environment Database is available as a stand-alone product for personal comput…
Table Mountain development going smoothly for Cusac
Murphys Law appears to have been repealed at the Table Mountain project near Cassiar, B.C. Cusac Industries (TSE) has found that the Michelle Highgrade zone is not under water as previously thought. I…
NovaGold options Corner Bays Touquoy property
Corner Bay Minerals (TSE) has optioned its Touquoy gold property in Nova Scotia to NovaGold Resources (TSE). NovaGold will pay $5,000 cash and will have 12 months to complete a feasibility study of th…
Private placement to fund drilling
Junior Conquest Yellowknife Resources has completed a private placement of flow-through and common shares. Proceeds of $104,000 will finance follow-up drilling on a recently acquired, 32-claim propert…
Formosa closes Oregon mine
The Silver Butte mine, near Riddle, Ore., is being closed permanently because of environmental concerns and low copper and zinc prices. Formosa Resources (VSE) is carrying on discussions with state au…
New SAG mill for Applied Carbon
Producer Applied Carbon Technology (VSE), formerly Cal Graphite, is commissioning a semi-autogenous grinding (SAG) mill at its graphite operation in Kearney, Ont. Part of a $4-million capital improvem…
Metals sub-index continued to fall in October, bank says
In October, the metal and mineral sub-index of The Bank of Nova Scotias commodity price index dropped to the lowest level since January, 1979. A plunge in copper and lower aluminum prices swamped any …