More zones uncovered at Sulphurets
At least 16 new zones requiring follow-up exploration were identified by Newhawk Gold Mines (TSE) during this year’s surface exploration program on the Bruceside project at the Sulphurets property in …
News
Minnova options prospects in Coronation Gulf area
A recent option agreement with Continental Pacific Resources (VSE) sets the stage for Minnova (TSE) to acquire a 60% interest in two polymetallic mineral properties in the Coronation Gulf area of the …
Royal Oak halts ERG negotiations
Negotiations have been terminated and will not be resumed regarding the purchase of the processing facility of ERG Resources Inc. in Timmins, Ont., Royal Oak Mines (TSE) reported. Royal Oak said it wa…
New Canamin drilling focuses on high-grade copper core
A drilling program at the Huckleberry property under option to New Canamin Resources (VSE) continues to return excellent copper values. The company is proceeding with a second-phase drilling program t…
Goldex paying $2.05 million for Goldex Extension interest
A member of the Agnico-Eagle Mines (TSE) group of companies, Goldex Mines (TSE), has agreed to pay Montreal-based junior Ormico Exploration (ME) $2.05 million for its 40% interest in the Goldex Extens…
Indicator minerals aid in search for diamonds
(Second of a 3-part series) Using surface geochemical sampling, Dia Met Minerals (VSE) followed a 700-km-long trail of indicator minerals for five years in the Northwest Territories until it made the …
Flag drilling
Calgary-based Flag Resources (ASE) is drilling a “large geological structure” on the southern boundary of the Wanapitei anomaly in Rathburn Twp., near Sudbury, Ont. Flag also plans to drill a 5,000-ft…
Nova-Cogesco offer
An offer to purchase 3.3 million common shares of Nova-Cogesco Resources (TSE) by NCG Acquisition has been extended to Nov. 9 from Oct. 30. NCG, an affiliate of Hughes Lang (VSE) and Orofino Resources…
Yellow Point drops venture
A joint venture agreement allowing Yellow Point Mining (VSE) to earn an interest in the Kasperske Hory gold deposit in Czechoslovakia was recently terminated. Yellow Point President Thomas Tough said …
NEWS ROUNDUP — Freegold signing on 007 as partner
An agreement-in-principle sets the stage for 007 Precious Metals (VSE) to earn a majority interest in Freegold Recovery’s (VSE) interest in the Golden Summit project near Fairbanks, Alaska. The terms …
NEWS ROUNDUP — Formosa finalizes financing
The terms of a financing agreement were settled between Formosa Resources (VSE) and its major shareholder, respecting the US$2.09 million advanced to Formosa for ongoing operating expenses. The compan…
Ontario gives grants for research, cleanup
Three environment-related research and cleanup projects will receive grants from Ontario’s Ministry of Northern Development and Mines. The ministry will contribute $15,000 to Falconbridge Ltd.’s study…