Placer Dome/Tundra drill Val d’Or bets
Three drills are at work on the McKenzie Break group of properties held by joint venture partners Placer Dome (TSE) and Tundra Gold Mines (VSE) near Val d’Or, Que. Situated 15 miles northeast of Val…
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VSM, Serem double reserves at Grevet M find
VSM Exploration (ME) and partner Serem Quebec have more than doubled reserves at their Grevet M property in Quebec. Following the completion of exploration work to the end of October, the partners hav…
Northgate companies make progress on varied North American
Over the last two years Northgate Exploration (TSE) has spent in excess of $180 million and been involved in about 14 investments and acquisitions, which probably give it the honor of being North Amer…
Homestake find near Lupin Mine gets confirmation
A subsidiary of Homestake Mining (NYSE) recently confirmed long-standing rumors that a major “Lupin-type” gold deposit was discovered in the Northwest Territories. Robert Boyd, director of Canadian ex…
Giant Yellowknife faces sale to Frame Mining
Major gold producer Giant Yellowknife Mines (TSE) and its associated Pamour group companies may have a new owner by the end of the year. Parent company Giant Resources of Australia has entered into a …
Cominco Resources still in the red
An aggressive exploration and development program in the international arena is continuing to create red ink for Cominco Resources International (TSE). The company’s third-quarter loss was $2.4 millio…
Westmin earnings dip
Earnings for Vancouver-based Westmin Resources (TSE) dropped to $1.1 million for the third quarter from $4.1 million the previous year. After preferred dividends are accounted for, the company lost 8 …
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 …
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…