COATS (over-the-counter) McNickel active
Sagging investor interest left most mining shares adrift on a directionless COATS market this week. With diamond drilling expected soon, the shares of McNickel Inc. remain active, however. The company…
News
FINANCING (May 22, 1989)
VANCOUVER Brooklyn Res Inc — gross proceeds rec $250,000. Fair Harbour Mng — gross proceeds rec $280,000. Athabaska Gold Res — opt exerc on 250,000 @ 52 cents per sh. Glider Devel Inc — 600,000 s…
Continental drilling program develops leading technology
In the Canadian mining industry, diamond drill holes more than 1,000 ft are considered deep, but compared to holes being drilled for scientific information elsewhere in the world, that’s barely scratc…
Problems at Nickel Plate continue for Corona Corp.
While the Nickel Plate gold mine in British Columbia continues to cause problems, the on-going message of Corona Corp. (TSE) for the entire company is one of good growth potential in low-cost precious…
Porcupine discovery began Canada’s biggest gold camp
Eighty years after its discovery, the Porcupine gold mining camp near Timmins, Ont., is still going strong. Although now surpassed by the Hemlo gold fields as Canada’s largest annual gold producer, th…
Metrologist seeks help
Metrologist Jan Merks is seeking help from mining companies for a book dealing with the metrology of precious metals ores. He can be contacted at: P.O. Box 697, Station A, Vancouver, B.C. V6C 2N5.
Queenston, affiliates in flow-through deals
Toronto-based Queenston Gold Mines (TSE) has entered an agreement with CMP 1989 Resource Partnership and Co. to subscribe for $275,000 in flow-through share financing for 1989. Queenston said proceeds…
Connors completes exploration hole to 8,688-ft depth
An exploration hole to a depth of 8,688 ft and at 64 degrees was completed recently near Kimberley, B.C., by Connors Drilling of Kamloops, B.C. The hole was drilled with Longyear’s CHD 76-mm coring eq…
Seabright open pit
Mining from the first bench of the Touquoy open pit has removed 27,000 tonnes of rock grading 1 g gold per tonne (0.029 oz gold per ton) Seabright Explorations (TSE) says. The Touquoy property is in N…
People (May 22, 1989)
METALLGESELLSCHAFT AG — Dr. Heinz Schimmelbusch appointed chief executive officer and will be based in Frankfurt, West Germany.
`Glasnost’ brings Polish mine, VSE junior together
The new spirit of glasnost sweeping Poland has set the stage for an agreement between that country’s largest copper mining and smelting organization and a Vancouver-based junior mining company. The re…
Montreal Exchange: Market advances
The market took a turn for the better this week with both the market portfolio and mining and minerals index posting broad advances, more than 65 pts and almost 62 pts, respectively. Volume was light-…