Minesota mineral leases up for sale
The Minnesota government has given notice that it will auction off leases to prospect for and mine metallic minerals on several state- owned properties in northern Minnesota. The sale, affecting eight…
News
St. Genevieve, Bay drilling extends zone at Fourax
St. Genevieve Resources (TSE) and 81% owned subsidiary Bay Resources & Services (ASE) recently received some encouraging results from winter drilling at the Fourax gold property in Malartic, Que. Situ…
Noront trims down Grubline holdings
The 6,800-claim Grubline joint venture of Noront Resources (VSE) and Noranda (TSE) in central Newfoundland is being reduced in size by nearly 50% as the partners narrow their focus to concentrate on t…
Australian Report Small iron ore deposit has appeal
An interesting small mining venture in New South Wales has just been sold. Doral Resources has been mining about 30,000 tonnes per year of magnetite at its mine near Mudgee in east-central New South W…
Quote proposes joint venture on magnesium deposit near Algoma
A large deposit of olivine gabbro discovered in Riggs Twp. near Algoma, Ont., may contain commercially significant amounts of magnesium. Intending to develop the gabbro stock, Quote Resources (VSE) ha…
Aussie election shouldn’t change mining policy
Re-election of the Labor Party in Australia in the recent national election should mean a continuation of the current policy governing the mining industry in that nation. While the final seat tally ha…
Abermin bankruptcy unavoidable
Cash-strapped Abermin (TSE) recently announced bankruptcy under provisions of the Bankruptcy Act with Deloitte & Touche appointed as trustees. Company management had attempted for some time to refinan…
The Anhydrite Alternative
Current research at the Technical University of Nova Scotia (TUNS) Mining Engineering Dept. will soon determine the potential of anhydrite, the dehydrated form of gypsum, for use as an alternative bin…
FUTURES PRICES (April 02, 1990)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (HG) (in US cents per lb.) Mar 127.50 120.00 121.65 — 6.35 Apr 118.10 117.60 116.35 — 4.95 May 116.40 112.00 112.25 — 5.05 SILVER (in US …
For the Record
Every corporation and virtually every person keeps records, both personal and business. In fact, in today’s society there is a tendency to make multiple copies of everything and to put them in “the fi…
Placer Dome earns 60% of Mexican Hat
Through expenditures of US$1.38 million, a unit of Placer Dome (TSE) has earned a 60% interest from Oneida Resources (VSE) in the Mexican Hat gold property in Cochise Cty., Ariz. Some 137 holes totall…
Homestake drift
A US$23-million underground exploration program has been announced by Homestake (NYSE) for gold showings three miles north of the company’s mine near Lead, S.D. Gold mineralization has been found at a…