Silver Drake
A 5,000-ft. reverse circulation drill program funded by Silver Drake Resources (VSE) has started on the Hachita gold property in Hidalgo Cty., N.M. The drill program will test geophysical targets adja…
News
Gold price likely to remain steady
The gold price is likely to peak in the first part of 1991, but will not exceed the US$450-per-oz. level, according to the Annual Review of the World Gold Industry, 1990, published by Shearson, Lehman…
Poor results from Milestone’s gold bets
Drilling on two of Milestone Resource’s (COATS) gold properties in the Birch Lake area of Ontario has returned poor results. On the Shabumeni property, two of the four holes assayed carried no signifi…
Vancouver Stock Exchange A bidding war looms large
The Vancouver Stock Exchange appears to have received the spark needed to ignite a widely predicted jump in activity. The combination of the announcement of a road into the Eskay Creek area, a takeove…
FINANCING VANCOUVER
Ticker Tape Res — 600,000 sold for gross $342,000. Suntac Minerals — 1,800,000 sold for gross $756,000. Gratiam Res — opt exerc on 137,500 @ 40 cents per sh. First Star — 400,000 offered @ 50 cent…
New uranium deposit found in Saskatchewan
A new high-grade uranium discovery has been confirmed by Cameco on its 44% owned McArthur River joint venture project in the Athabasca Basin of northern Saskatchewan. The discovery is about 70 km nort…
Montreal exchange Freewest gets new zone
Freewest Resources was the most active trader on the Montreal Exchange during the week ended May 29 with 527,700 shares changing hands. Noranda, its partner on the Harker-Holloway gold project in nort…
Mine closure means loss for Bachelor
The closure of their mine and mill in Desmaraisville, Que., has hurt Bachelor Lake Gold Mines’ (TSE) 1989 financial results. Producing for only half of the year, Bachelor reported a net loss of $3.4 m…
At Harker-Holloway New zone at Harker-Holloway
A new gold-bearing structure has been identified on the Harker- Holloway gold property, 40 miles east of Matheson, Ont. Noranda (TSE) discovered the new structure while infill drilling on the main Lig…
Underground drifting adding to confidence in Rouyn mine
Underground exploration at the Francoeur gold mine, held equally by Rouyn Mining Resources (TSE) and LAC Minerals (TSE), continues to support the theory that proven reserves can be increased. Situated…
Spending slump hurts Hillsborough
Reduced expenditures on exploration and development by the mining industry have had a negative effect on Hillsborough Resources’ (TSE) 1989 revenue. The mining contractor reported revenues of $31 mill…
Northgate group results mixed as Colomac gold pour awaited
As it waits for the first gold pour at the potentially huge Colomac gold project in the Northwest Territories, Northgate Exploration (TSE) and its group of affiliates reported some mixed first-quarter…