NovaGold offer extended
Shareholders of tse-listed Northumberland Mines have until April 5 to tender their shares to an offer by NovaGold Resources. NovaGold decided to extend the offer, which gives shareholders one NovaGold…
News
Wilco/Deak Ariadne to form new entity
Toronto-based Wilco Mining and a private company called Deak Ariadne Ltd. have agreed to combine their respective mineral exploration and financial expertise under one company, Wilco announced recentl…
Arcadia Bay bet gets more work
About $1.1 million will be spent this year exploring for additional gold reserves at Arcadia Bay, N.W.T. Since gold was discovered there in 1963, work by several companies has brought proven ore reser…
Minnova’s Ansil to produce by first quarter of ’89
In a recent announcement that should have surprised no one, Minnova Inc. of Toronto said it will put its massive sulphide Ansil copper project in northwestern Quebec into production, with start-up exp…
Hope Brook find
A new gold discovery has been made by Hope Brook Gold near the company’s gold mine in southern Newfoundland. Drilling 1,000 m west of the mine has encountered a mineralized zone at a depth of 400 m. S…
Uranium located at SMDC bet
Uranium mineralization was discovered during drilling at the Key Lake district in northern Saskatchewan where the Saskatchewan Mining Development Corp. is involved with five joint venture partners, an…
Wrightbar financing
An $800,000 financing agreement has been arranged between Wrightbar Mines and CMP 1988 Resource Partnership and Co., Ltd. at 95 cents per share. The money will be used on exploration work at the compa…
USMX gets OK for Nevada mine
USMX Inc., a Denver-based company, says it has been given the green light by the U.S. Bureau of Land Management to proceed with construction on its Green Springs gold project in Nevada. Ground breakin…
St. Genevieve, Augmitto finish second drilling
A second drilling program of 23 holes representing 16,850 ft was recently completed by St. Genevieve Resources and Augmitto Explorations on the Parbec property, located about two miles west of Malarti…
Gold Ridge tests unique gold recovery method
Using technology developed in the oil fields, Gold Ridge Resources is testing a new way of recovering gold at its Wingdam deep channel placer gold deposits located near Cottonwood in north-central Bri…
HBM&S turns profit in ’87
Net income of $39.3 million on revenues of $342.6 million was reported by Hudson Bay Mining and Smelting in 1987, compared to a net loss of $20.2 million on revenues of $291.2 million in 1986. Preside…
Card Lake results
Encouraging results have been received by Card Lake Resources from the company’s gold property in German Twp., Ont. Located north of the operating Aquarius gold mine, the Card Lake claims were tested …