Earnings Report (August 14, 1989)
TSE-listed Euro-Nevada Mining posted a net profit of $121,000 or 1 cents per share in its first quarter ended June 30. In the same period last year the company lost $605,000 or 7 cents per share. Rev…
News
Pegasus options Quartz Mountain gold project
Quartz Mountain Gold Corp. (TSE) may soon have a new joint venture partner for its Quartz Mountain gold project in Lake Cty., Oregon. The Vancouver-based company recently granted Pegasus Gold Corp. (T…
Drilling stops on Athabaska Gold bet
Diamond drilling has been suspended pending clarification of financing on Athabaska Gold Resources’ (VSE) Nicholas Lake property, situated 50 miles north of Yellowknife, N.W.T. The company said two dr…
Golden Day, Inlet commence field work
Field work is under way on the Dean Creek gold property 35 km west of Red Lake, Ont., Golden Day Mining Exploration (ME) and Inlet Resources (ME) report. Mapping and trenching work is to be completed …
X-Cal finds new zone
Surface work by X-Cal Resources (TSE) on its 100%-owned Snowbird property near Fort St. James, B.C., has located a new gold bearing zone parallel to an earlier discovery in the East zone area. The com…
Includes 46 ft. of 1.7 oz gold Calpine drilling returns high grade
An ongoing program of step-out and infill drilling by Calpine Resources (VSE) is continuing to return encouraging results from the 21 zone of the Eskay Creek project in northwestern British Columbia. …
Nickel leads Canada’s mineral output
Strong markets in base metals in 1988 helped push the total value of Canadian mineral production that year to a new peak of $21.1 billion, up 19.2% from the previous year. The Mining Association of Ca…
Noranda ponders its options in Amax bid for Falconbridge
The next move in the Amax Inc. (NYSE) takeover bid of Falconbridge Ltd. (TSE) would appear to belong to Noranda Inc. (TSE). The mining and forestry giant, which is Falconbridge’s largest shareholder w…
Nevada Goldfields shuts mine due to low reserves, grade
Nevada Goldfields Corp. (TSE) has shut down its Kingston gold mine in Nevada. Citing lower grades and the failure of exploration to define additional reserves, Nevada Goldfields was forced to close th…
Ont. premier against Falconbridge takeover
Ontario Premier David Peterson may not like the proposed Amax Inc. (NYSE) takeover of Falconbridge Ltd. (TSE), but he may be powerless to stop it. Peterson, in Timmins, Ont., recently, was asked about…
Golden Reward expects gold output in September
MinVen Gold Corp. (TSE), Coin Lake Gold Mines (TSE), and Moruya Gold Mines, partners in the Golden Reward heap leach project, will soon have a golden reward in metal as well as in name. The first gold…
Ronrico bulk sample
A bulk sampling program completed on the former-producing Simkar property near Val d’Or, Que, yielded an average recovered gold grade of 0.217 oz gold per ton. Partners Louvicourt Gold Mines (COATS) a…