Canamax tallies third quarter loss
A net loss of $2 million or 11 cents per share was reported by Canamax Resources (TSE) on revenues of $12 million for its third quarter ended Sept 30. These results, which include proceeds from the …
News
Rio Algom ends talks with Uranium Resources
Negotiations between Rio Algom (TSE) and Uranium Resources (TSE) for a proposed takeover of Uranium Resources by Rio Algom were terminated. The two companies had previously signed a non-binding letter…
Euro, Goldhurst deal
An agreement in principle has been signed between Goldhurst Resources (VSE) and Euro- Nevada Mining (TSE) which gives Euro-Nevada the right to buy 50% of Goldhurst’s royalty in the Mouska gold project…
Inco opens Crixas
Inco Gold, a wholly owned affiliate of Inco Ltd. (TSE), poured the first gold from its Crixas gold mine in Brazil. Designed to process 360,000 tonnes of ore per year to yield 120,000 oz of gold, the C…
Initial drilling returns good values at Rainbow Hill
Although still in its early stage, initial reverse circulation drilling on the Rainbow Hill lode gold project near Cantwell, Alaska, has returned encouraging results for 100% owner, Canalaska Resource…
Drilling to begin at Reymont project
Drilling is scheduled to get under way this month at Reymont Gold Mines’ (ASE) Great Western Star gold-copper property near Nelson, B.C. Spending $3 million by 1994 and making staged payments of $500,…
Mine feed only for Magnacon mill
The Magnacon mine near Wawa, Ont., produced about 3,300 oz gold in October, Windarra Minerals (TSE) reports. Mill throughput during the month averaged 473 tons per day at an average head grade of 0.25…
Gold Standard set to explore Uruguay with Big Pony Gold
Gold Standard (NASDAQ), the Utah-based company which is preparing to do battle with American Barrick Resources (TSE) in court next year for control of the Mercur gold mine, recently raised $2.55 milli…
Low grading nickel values cut by Milestone in Manitoba
Low grade nickel-copper values have been intersected by eight shallow drill holes completed recently on Milestone Resource’s (COATS) Ore Fault claims in southeastern Manitoba. The 16-claim property, a…
War Eagle deja vu
A total of 13 drill holes were completed by Nerco Delamar, a wholly owned subsidiary of Nerco Inc. (NYSE), on the War Eagle Mountain gold-silver project in Idaho. The drilling is part of a joint ventu…
Newhawk drifting returns high grades
Assay results from the first 130 ft of drifting on the R-8 structure at Newhawk Gold Mines’ (TSE) 60% owned Sulphurets project averaged 1.51 oz gold (uncut) and 17.16 oz silver across a true width of …
Audrey tonnage on Mobrun 1100 lens increases by 75%
Probable ore reserves in the 1100 lens at the Mobrun polymetallic mine in Quebec have nearly doubled, says operator Audrey Resources (TSE). The mine, which produces copper, zinc, gold and silver from …