Rhonda options Noranda prospect
A letter of intent has been signed between Rhonda Mining (ASE) and Noranda Exploration whereby Rhonda may earn a 50% interest in a copper property in the Coppermine area of the Northwest Territories b…
News
NEWS IN BRIEF (May 11, 1992)
Premier Gold Resources Inc. (PGL:VSE) has changed its name to Cryptic Ventures Inc. (CYV:VSE) with a consolidation of capital on a 1-new-for-3-old-share basis. The transfer agent is Pacific Corporate …
Seabee’s mill built with money meant for shopping malls
Claude Resources (TSE) has become involved in a controversy surrounding investment funds set up for would-be Canadian immigrants after running into financing and operational difficulties at its Seabee…
Lakewood, Green Valley react to drill `reports’ for Wood
Western markets leveled off during the period ended May 5, with the Vancouver Stock Exchange composite index finishing up 5.74 points to the 620 level and the resource index slipping just under three …
Ottawa gold selling continues
All that government gold — 12.3 million oz. at the end of March — no longer glitters as it once did. However, despite depressed prices, there’s still a silver lining in those gold bricks gathering d…
LETTERS TO THE EDITOR (May 11, 1992)
In its 1990 annual report, Glimmer Resources stated it has reserves in Hislop Twp. in northeastern Ontario of 1.07 million tons (968,190 tonnes) grading 0.34 oz. gold per ton. When one compares this d…
Melinga drills Honduran property
A track-mounted reverse circulation drill was recently mobilized by Melinga Resources (VSE) to test recently identified geochemical and geophysical targets on the Macuelizo gold-oxide copper prospect …
Placer Dome cuts workforce at mines
Several Canadian mines owned and operated by Placer Dome (TSE) will be restructured in order to reduce operating costs and meet existing production targets with fewer employees. The initiative was not…
Latin American notes
United Nations officer Wolfgang Gluschke, in a Miami conference paper on mineral investment promotion: Most countries in Latin America have undergone considerable changes in the economic, social and p…
Vior expands new Douay zone
A new zone on the Douay gold property in Quebec’s Casa Berardi region has been outlined over a strike length of 1,000 ft., a width of 500 ft. and a thickness of 15-45 ft., reports Societe d’Exploratio…
Noranda may venture into magnesium
Faced with having to control capital expenses in tough economic times, Noranda (TSE) will cut its exploration spending to $112 million this year from $147 million in 1991, said President David Kerr at…
MINER DETAILS; Making royalties look easy
Mining can be a pretty terrible business. When commodity prices are up, companies make huge capital investments to develop a mineral deposit. The metal price inevitably falls and the company must suff…