Deak becomes operator at Cheminis mine
A letter of agreement recently signed by Deak Resources (TSE) with Northfield Minerals (ASE) allows it the right to become operator at Northfield’s Cheminis mine near Kirkland Lake, Ont. Deak will als…
News
Drill results should boost Williams Creek reserves
Initial results from this year’s drill program have partners Western Copper Holdings (VSE) and Thermal Exploration (ASE) predicting an increase in reserves at the Williams Creek copper-oxide project 2…
Peru miner pays US$4 million dividend
Southern Peru Copper, a subsidiary of Asarco (NYSE), has paid a US$4-million dividend for the second quarter. Southern Peru, jointly owned by Asarco (52.3%), the Marmon Group (20.7%), Phelps Dodge Ove…
STOCK MARKETS — Commonwealth remains active outlining
Western markets drifted lower over the week ended Sept. 22, with the Vancouver Stock Exchange composite index shedding almost 11 points to finish at 562.82 while the resource index slipped 11.9 points…
Spot prices at a glance (September 28, 1992)
Week’s Price (US) Change Gold* $348.90 + $2.70 Silver* $ 3.84 $0.00 Platinum* $364.25 + $1.25 Nickel** $ 3.09 – $0.07 Lead** $ 0.27 – $0.01 Copper $ 1.08 – $0.01 Zinc $ 0.61 – $0.01 Courtesy of Scotia…
INSIDER TARDING — Canhorn sells into United Reef rally
Toronto-based Canhorn Mining (TSE) sold 1.1 million shares of its affiliate, United Reef Petroleums (TSE), for 16-23 cents each at the beginning of September, a few days too early to fully capitalize …
Oasis, Orient issue flow-through shares
Consolidated Oasis Resources (ME) and Orient Resources (ME) have concluded a financing agreement with Oasis/Orient (1992) Mining Exploration partnership and Soquem. Under the agreement, the partnershi…
Placer to pay US$100 million for half of Chilean copper play
Living up to its stated intention to acquire late-stage exploration properties, Placer Dome (TSE) plans to acquire a 50% interest in the huge Zaldivar copper project from owner Outokumpu Copper Resour…
Challenger drops Deatys Creek property option
After receiving the results from the second phase of drilling on its Deatys Creek property, 90 miles west of Thunder Bay, Ont., Challenger Minerals (VSE) has decided to drop its option. The best inter…
DIAMOND GEMS
. . . Sources close to the Lac de Gras diamond play say the kimberlite that yielded 10 microdiamonds and one macrodiamond in a 40-kg sample for the Dia Met-BHP joint venture (T.N.M., Sept. 21/92) outc…
NEWS ROUNDUP — Glimmer, Hemlo resume drilling
Drilling has resumed on the Hislop Twp. gold property near Matheson, Ont., of Glimmer Resources (VSE) and Hemlo Gold Mines (TSE). The partners plan to drill eight holes, one to test a geophysical anom…
Oneida owns Mexican Hat
The Mexican Hat gold property in Cochise Cty., Ariz., is owned 100% by Oneida Resources (VSE) now that the junior has bought out an 80% interest held by a former joint venture partner.