Somerset Island programs planned
About $1 million will be spent this year by several junior companies planning to explore various diamond properties on Somerset Island, N.W.T. This Arctic Islands region was explored by Diapros (a sub…
News
Redaurum lines up mine financing
The price is $5 million. The prize is a 50% stake in a producing diamond property in Zimbabwe and the surrounding 13,474-hectare exploration permit. When Cornerstone Investments, a private Australian …
Crown Butte re-calculates reserves at New World
After reviewing results from the 1992 drill program, Crown Butte Resources (TSE) re-calculated geological reserves for its New World project in Montana. The advanced project is in an alpine region nea…
OBITUARY — Dominic Giachino
Dominic Matthew Giachino, a native of Cobalt, Ont., died Jan. 31 after a lengthy illness. Giachino graduated first from Haileybury School of Mines, and then in 1933 from Queen’s University as a mining…
Nevada Goldfields raises funds
A private placement of preferred shares through its major shareholder, Gwalia, was recently completed by Consolidated Nevada Goldfields (TSE). The purchase price totalled US$300,000 for 545,455 series…
Ariel acquires adjacent ground
Costa Rican gold producer Ariel Resources (VSE) has increased substantially its reserve position by acquiring the San Martin property adjacent to its Tres Hermanos mining operation. Ariel says it paid…
NEWS ROUNDUP — Positive results at Prairie Creek
More assay results were released by San Andreas Resources (VSE) from its Prairie Creek Mine property 300 miles east of Yellowknife, N.W.T. Hole 92-10 returned 69.2 ft. grading 4.78% lead, 10.46% zinc …
Southern Africa attracts juniors
Southern Africa, home of some of the world’s largest diamond mines, has attracted several Canadian juniors aiming to become overnight diamond producers. Near Kimberley, South Africa, Stow Resources (V…
LATIN AMERICA — Arauco plans drill programs for two Chilean
While still in the private company stage, Arauco Resources (VSE) acquired 100% of 21 mineral properties in southern Chile. They include potential bulk minable gold properties as well as disseminated c…
Metal Prices — FREE MARKET (February 08, 1993)
London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Feb. 2 Feb. 1 Jan. 29 Jan. 28 Jan. 27 Copper 1536-1537 1521-1522 1497-1498 1493-1494…
NEWS ROUNDUP — Starmin, Hellens deal with Falconbridge
A letter of intent to explore for massive sulphides near the town of Cobalt, Ont., has been signed by project partners Starmin Mining (TSE) and Hellens Eplett Mining with Falconbridge. Falconbridge ma…
NEWS ROUNDUP — Agnico finances Goldex purchase
To finance the acquisition of the remaining interest in the Goldex gold deposit in Quebec, Goldex Mines (TSE) has issued 1.78 million flow-through shares at $1.15 to parent Agnico-Eagle Mines (TSE). T…