Mining Corp. closing doors
Citing a lack of opportunities in the mining construction business, Mining Corp. of Canada says it will wind up its business activities by the end of 1989. The wholly-owned subsidiary of Noranda Mine…
News
McNickle dives
Poor drill results from the Lac St. Jean nickel prospect owned by McNickel Inc. resulted in a sell-off. The issue tumbled to $1.50-$1.75 on active trading today. Results from a series of drill holes, …
Northgate emerges with 50% stake in Neptune gold bet
Toronto-based Northgate Exploration (TSE) has emerged with a bigger stake in Neptune Resources’ (TSE) Colomac gold project after exercising its opti on to acqu ire a 30% interest in the project for $2…
Reed seeks funding
An equity financing is being sought by Reed Lake Exploration (ASE). If completed, the cash raised would fund a follow-up exploration program o n Reed’s Holdswo rth gold property near Hawk Junction, On…
Spot prices at a glance (September 11, 1989)
Week’s Price (US) Change Gold* $360.00 –$ 1.20 Silver* $ 5.09 –$ 0.04 Platinum* $475.75 –$ 1.35 Nickel** $ 5.31 –$ 0.41 Lead** $ 0.32 –…
Calpine bids to avoid errors in Eskay Creek assay results
Partners Calpine Resources (VSE) and Consolidated Stikine Silver (VSE) are using an assaying technique they hope will avoid any innaccuracies in t he results r eleased from the Eskay Creek property in…
Corona sells Bond holding
North American gold producer Corona Corp. (TSE) has decided not to pursue an investment strategy to gain control of Bond International Gold (TSE). Corona says it has exercised its right to sell its 7%…
McNickel cuts low grade nickel
A series of assays from a drill program being completed by McNickel Inc (coats) has yielded lower than expected values in nickel and copper. Investors in the issue scurried to sell which resulted in M…
Amax Gold to explore Villeneuve prospect
Vancouver-based Villeneuve Resources (VSE) has leased its 117- claim group in central Nevada to Amax Gold (TSE). The property lies immediately north of Amax’s low- cost Sleeper gold mine. The agreemen…
Shown Butte plans public financing
A $2.25-million public financing is being planned by Crown Butte Resources (VSE) to fund work on the company’s recently-acquired Black Hills proje ct in South Dakota. The planned financing will compri…
Canada’s ‘unforgiving’ arctic poses
“Mining in the Arctic presents many tough challenges. The environment is harsh and unforgiving, but mining people are a tenacious group and will succeed des pite these obstacles,” say M. 0000,0600 R…
Noranda completes Louvem share deal
Societe Miniere Louvem (TSE) and St. Genevieve Resources (TSE) recently completed an agreement with Noranda Minerals, a unit of Noranda Inc. (T SE), whereby No randa has purchased 800,000 Louvem commo…