Princeton faces drilling delays at Rio Lluta
A drilling program on the Rio Lluta property near Arica in northern Chile is scheduled to start shortly. Princeton Mining (TSE) had planned to begin drilling last November but the drilling equipment c…
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Significant gold intercept at Verneuil Twp.
A recently completed drill hole on the Verneuil Twp. gold property of Freewest Resources’ (TSE) in northern Quebec appears to have intersected significant gold mineralization. Hole VP92-10, drilled to…
Trading on TSE jumps 25.5% in 1992
The number of shares traded on The Toronto Stock Exchange (TSE) jumped by 25.5% to 7.3 billion in 1992, according to a recent report from the exchange. Compared with 1991, the total value traded was u…
Copper looms large in Rio Algom’s future
Cut loose during a period of depressed metal prices and a stale global economy, producer Rio Algom (TSE) is out to prove it can make it on its own. A major copper project in Chile should give the Toro…
Lumina assembling land package
Mine financier Robert Hunter is getting into the diamond exploration business. As president of Lumina Investment (VSE), Hunter is overseeing the assemblage of a “significant” property portfolio in bot…
Ramrod plans second Campo drill
With six holes now complete on the Campo Seco gold property in Calaveras Cty., Calif., Consolidated Ramrod Gold (TSE) plans to bring a second drill on to the property. Last October, the company report…
Sagging gem sales hurt Canadian play
Fresh evidence of a deteriorating diamond market threw some cold water on Canada’s diamond exploration play in the first half of January. South Africa’s De Beers, which controls the diamond cartel, sa…
Mining companies budget for exploration spending
The lower prices received for mineral commodities have affected corporate balance sheets but the search by producers for new reserves continues, as the chart below indicates. The 1992 figures were sup…
Glen Auden enters diamond hunt
Subject to regulatory approval, Glen Auden Resources (CDN) has acquired a 100% interest in two claim groups north of Kirkland lake, Ont. The claim blocks cover clusters of circular magnetic anomalies,…
Dutch unload gold reserves
The Dutch central bank was reported to have sold 400 tonnes of gold, equal to about one-quarter of its total gold reserves. Analysts said The Netherlands may be using the money from the sale of the go…
Lencourt under new management
Toronto-based geological consulting firm Watts, Griffis and McOuat (WGM) has sold more than two million shares of Lencourt (TSE) to Interchem (N.A.) Industries in trust. Interchem, a Vancouver-listed …
Falconbridge considers building own power plant
The Kidd Creek division of Falconbridge is one step away from building its own hydro-generating station and Ontario Hydro one step away from losing its largest customer. The division is trying to arra…