Corrections (May 09, 1988)
Incorrect drill results were published in the story “Initial results in from Goldcap bet” (N.M., April 18/88). The correct results of a program on the Tas gold property, funded by Goldcap Inc. (ASE) a…
News
Newmont sells stake in Sherritt Gordon
Newmont Second Capital Corp. a wholly-owned subsidiary of New York-based Newmont Mining, recently sold its 34% stake in Sherritt Gordon Mines (TSE) for approximately $40.8 million(US). Sprott Securiti…
Ottawa offers grants as substitute for earned depletion allowance
The flow-through saga has taken a new turn with the introduction of grants as a replacement for the controversial earned depletion allowance. The new program is designed to aid junior mining and oil a…
Barrick chairman vows to continue growth through acquisitions
In an annual meeting speech, delivered with all the gusto of a southern baptist preacher’s Sunday morning sermon, American Barrick Resources (TSE) Chairman Peter Munk promised recently not to digress …
Mohave steps up Pilgrim project
Mohave Gold Inc. (ASE) has announced it will begin three programs, recommended by MineStart Management Inc., to run concurrently on its Pilgrim mine project, 21 miles northwest of Kingman, Mohave Cty….
Cascadia drilling hits placer gold in B.C.
Visible gold has been noted in seven percussion holes completed on Cascadia Mines & Resources’ Cariboo-Kiethley Creek properties in southwestern British Columbia. Just over a year ago, the company ent…
News inBrief (May 09, 1988)
New Century Resources (VSE) has executed an option with Buxton Placer Exploration to acquire a 50% interest in certain placer leases in the Likely area of British Columbia. Because of uncertainties re…
Alberta Stock Exchange Baslen active (May 09, 1988)
Some of the big traders of recent weeks were active once again as Ottawa offered a lifeline to junior exploration companies by extending the present flow-through financing system until the beginning o…
Goldbrae encouraged by results
Drilling will resume this month on the polymetallic Big Island Lake project near Flin Flon, Man., Goldbrae Developments (VSE) reports. The company says 19,000 ft of drilling has been completed to date…
Phoenix has loss after McxFinley sale
After selling a 43% interest in the Bateman Twp. project near Red Lake, Ont., Phoenix Gold Mines (TSE) strengthened its cash position in 1987 the company said recently. As a result of the sale to McFi…
Canada Tungsten sees hope of mine re-start next year
Things are looking up for Canada Tungsten Mining Corp. (TSE), it says. Not only is the company re- opening its ammonium paratungstate (APT) plant at Fort Madison, Iowa, but President Wayne Lenton told…
Lower demand, prices seen for copper
There’s no doubt the price of copper, which topped $1.40(US) per lb at the end of 1987 but has settled back into the 90 cents -$1.10 range of late, has spurred mining activity of the base metal. Figur…