Canchrome finds two new zones
Two new mineralized zones were uncovered by Canchrome Mines (ME) on the company’s Belanger chromite property near Thetford Mines, Que. One of the zones, Reed-A, sits 25 metres north of the Main zone a…
News
Sikaman proposes debt restructuring (June 01, 1992)
A June 24 meeting is planned by Sikaman Gold Resources (TSE) with the owners of its $6.1 million, 10% convertible debentures to consider a company proposal to convert the debt into preference shares a…
Bank of Canada maintains gold sales at record levels
Gold sales by the Bank of Canada in 1991 were almost 1.8 million oz., the highest level since the program was initiated in 1980 and 462,000 oz. more than 1990 sales. Gold sales will continue at a rate…
Reserve increase at Eskay Creek
The high-grade 21B zone on the Eskay Creek property north of Stewart, B.C., now hosts probable reserves of 1.19 million tons grading 1.91 oz. gold and 85.5 oz. silver per ton. This updated and upgrade…
Gold Fields’ latest survey finds total gold supply falling
Total world gold supply in 1991 dropped for the first time since 1983 to 2,815 tonnes from 2,913 tonnes in 1990, according to Gold Fields Mineral Services’ annual survey Gold 1992. However, primary mi…
Canadian Overseas to dredge for diamonds
Toronto-based Canadian Overseas Exploration (VSE) has acquired the right to a 50% interest in a joint venture to develop and exploit a 650-sq.-km diamond concession off the coast of Namibia. The conce…
Scotia Prime shares double after deal with Phelps Dodge
Halifax-based Scotia Prime Minerals (ASE) has optioned a base metals property near Five Islands, N.S., to the Canadian unit of U.S.-based giant Phelps Dodge Corp. — the fourth in a series of agreemen…
Nerco may sell minerals division
The Nerco Con mine at Yellowknife, N.W.T., could change hands if Nerco (NSYE) finds a buyer for its minerals division. The diversified resource company recently announced it had retained J.P. Morgan, …
Mining at Casa Berardi Est to resume in July, says TVX
The Casa Berardi Est gold mine in northwestern Quebec is expected to be back in operation by mid-July, TVX Gold (TSE) President Martin Robinson said at the company’s annual meeting in Toronto. Operati…
GUEST COLUMN (June 01, 1992)
Suppose for example the provincial government decided it wished to have a good selection of Emily Carr paintings in its provincial gallery and it passed legislation which permitted a committee appoint…
New staking beats previous records at Lac de Gras
One of the biggest staking rushes in North American history gathered momentum recently as crews representing junior and senior mining companies from across the continent flew in to claim more ground i…
Homestake extends offer for Corona
By agreement of all parties, the date by which Homestake Mining (NYSE) is to make a share exchange offer to shareholders of International Corona (TSE) was recently extended to June 15, 1992. The exten…