Bill to change 1872 Mining Act reaches Congress
Legislation to repeal the mining law of 1872 was introduced recently by Representative Nick Rahall (West Virginia), chairman of the House Mining and Natural Resources Subcommittee. In introducing the …
News
Tenneco opens Fondaway mine
The official opening of the Fondaway gold mine near Fallon, Nev., adds yet another new mine to a growing roster that has made this state the leading source of gold production in the U.S. Tenneco Miner…
Simkar discovery
A new gold mineralized zone has been discovered by underground drilling at the Simkar gold project near Val d’Or, Que. The project is owned by partners R onrico Explorations (VSE) and Louvicourt Gold …
Minnesota lowers tax rate for mines
Mining taxes in Minnesota have been lowered by legislators in an attempt to stimulate mineral exploration. Although the state has no base or precious metal mine production, a high tax rate — one of t…
Toronto Stock Exchange Bears rule the market as index continues to
The bear hug squeezing equity markets refused to let go today, Jan. 31, as the composite index slipped another 2.58 points to close at 3,704.42 points. That’s six straight days of losses. Since early …
Minnova to explore Rainbow project
The Rainbow property in the Greenwood mining camp of southern British Columbia will be the subject of a 60% earn-in by Minnova (TSE). The company is earning the interest from Kettle River Resources (V…
Franco in Hemlo
Franco-Nevada Mining (TSE) has entered the Hemlo gold camp by purchasing a 100% interest in 31 claims from International Interlake Industries (VSE). Franco will pay Interlake $1.65 million after compl…
News in Brief (February 05, 1990)
Chesbar Resources (TSE) has changed its transfer agent to Royal Trust Co.
Metal Prices (February 05, 1990)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Jan 30 Jan 29 Jan 26 Jan 25 Jan 24 Copper 1300-1302 13…
Crown Jewel lives up to its name
The Crown Jewel deposit, formerly known as the Buckhorn Mountain property, is proving to be a jewel for owner Crown Resources (NASDAQ). Following a detailed study of all drilling results to date, inde…
Orient drilling at Sturgeon River
A drilling program representing 10,000 ft. has been started up by Ressources Orient (ME) at the Sturgeon River polymetallic project in the Geraldton area of northwestern Ontario. The property comprise…
Metal prices push commodity index down
Sliding metal prices had a negative effect on Scotiabank’s all- commodity price index in December, which was off 0.8% from the previous month. The all-items index has fallen 9.5% in the last year. Eco…