Armistice preparing for bulk sample
Two exploration programs were undertaken by Armistice Resources (ME) at its Virginiatown, Ont., property in January, one geared toward extraction of a bulk sample and the other involving surface work….
News
Mercur mine helping to pioneer treatment by pressure oxidation
The Mercur mine, near this small western community, is as rich in history as in gold. Although local residents are likely aware of the mine’s colorful past, few realize that Mercur is still making his…
Coxheath has proposal to save Tangier mine
A payment proposal offered to creditors of the cash-strapped Coxheath Gold Holdings (TSE) may allow the company to recommence production at its Tangier gold mine in Nova Scotia. The terms of the propo…
U.S. Gold lessens liquidity problems
Through the sale of its 40% interest in the Hayden Hill project, U.S. Gold (NASDAQ) has lessened a liquidity crunch which had threatened to push the company into bankruptcy protection. U.S. Gold sold …
Struggling ERG hurts Pamour
A loss of $54.8 million ($4.62 per share) was reported by Pamour (TSE) for 1989, compared with a loss of $6.4 million (54 cents per share) for the previous year. The loss includes the company’s share …
International Platinum hits high-grade zone on Kirkland Lake bet
A drill hole on the Goodfish property near Kirkland Lake, Ont., has intersected 90 ft. averaging 0.26 oz. gold per ton in an environment commonly associated with Kirkland Lake’s gold producers. The tr…
New drill program started at Douay by Inco, partners
A new 2-phase drilling program is under way on the Douay gold property in Quebec’s Casa Berardi area by project partners Inco, Societe d’Exploration Miniere Vior (ME) and Cambior (TSE). The trio recen…
Battle Mountain share offering
The pricing of a 5-million-share public offering has been reported by Battle Mountain Gold Company (TSE). The price was fixed at US$16 per share. Proceeds from the sale will be used for general corpor…
Rayrock earnings cut in half
Rayrock Yellowknife Resources (TSE) reported net earnings of $3.2 million (32 cents per share) for 1989, compared with $6.6 million (68 cents per share) in 1988. Operating funds increased to $9.3 mill…
Noranda, Glimmer cut parallel gold zones
Four recent holes in an 18-hole drill program currently under way on the 60/40 joint venture of Noranda (TSE) and Glimmer Resources (VSE) near Matheson Ont., have cut a series of parallel gold zones o…
Bachelor Lake agrees to sell 60% of mine, mill to Hecla Mining
Toronto-based Bachelor Lake Gold Mines (TSE) has agreed to sell a 60% stake in its Desmaraisville, Que., gold mine and mill to Hecla Mining Co. of Canada. While the deal is subject to due diligence an…
Vancouver Stock Exchange New results boost Eskay Creek players
Despite a pull-back in gold from the US$405-level to below US$400 per oz., the Vancouver Stock Exchange managed to gain about six points to the 738-level. The bullion market appears to be mirroring in…