Reed Lake drilling Wawa gold property
Drilling is scheduled to begin this month on Reed Lake Exploration’s (ASE) gold property, located northwest of Wawa, Ont. The 19-claim property hosts an iron sulphide deposit containing 900,000 tons o…
News
Drilling resumes at Lac Rouleau project
Drilling will resume this month on the Lac Rouleau gold project, partners Beaufield Resources (TSE) and Falconbridge Inc. (TSE) say. Located in Urban and Barry twps., Que., the Lac Rouleau project was…
Hardrock Extension
Encouraging gold assays have been received by Hardrock Extension (TSE) from the company’s gold property near Geraldton, Ont. Surface stripping and sampling have tested the VG zone for 80 ft. Some of t…
Magino mine officially open Photo by Muscocho Explorations
Attending the ribbon-cutting ceremony at the joint-venture Muscocho Explorations (50%) and McNellen Resources (50%) Magino mine were, from left: Frank Johnson, Muscocho’s general manager mining operat…
ERG Resources get financing
A financing for ERG Resources (TSE) big tailings recovery project near Timmins, Ont., has been arranged. A $41 million gold loan has been provided by Westpac Banking Corp., based in Australia. Pamour …
Levon/Veronex program yields gold in drift
A drifting program on the Congress gold property of Levon Resources (VSE) and Veronex Resources (VSE) near Gold Bridge, B.C., recently intersected a 630-ft long zone grading 0.33 oz gold over an avera…
Atlantic Report Seabright ceases work on Caribou
Westfield Minerals (TSE) of Toronto has completed an additional 4,000 ft of diamond drilling on the Little River property in Newfoundland. Westfield and its joint venture partner Anglo-Dominion Gold E…
Editorial Buying shareholders’ votes
Consider an investor of modest means who holds 100 shares of Inco. How do you think that investor will vote when the company’s board of directors ask his approval to implement a “shareholders’ rights …
Spot prices at a glance (October 24, 1988)
Week’s Price (US) Change Gold (per oz) $410.80 + $6.10 Silver (per oz) $6.32 + $0.06 Platinum (per oz)$539.00 + $22.00 Copper (per lb) $1.37 + $0.10 Lead (per lb) $0.29 -…
Opening new gold mines mean greater costs
Opening new gold mines will almost always take longer than expected and, because more time means greater cost, companies planning to start new mines should be prepared for those costs says Canamax Res…
FINANCING (October 24, 1988)
VANCOUVER Shoshoni Gold — gross proceeds rec $250,000. Sierra Madre — 400,000 sold for gross $168,000. Marian Minerals — 700,000 sold for gross $245,000. Wirlwind Res — proceeds rec $105,000. Nava…
Northgate’s cash puts Colomac on fast track
Northgate Exploration (TSE) has agreed to provide the remaining financing needed to get the $135- million Colomac gold project into production. The cash-rich company will inject $8 million directly in…