California Gold step closer to production
Pegasus Gold has completed an initial evaluation of the Zaca property in California, currently held by California Gold Mines of Vancouver. Under the terms of a memorandum of understanding with Califor…
News
News in Brief (January 11, 1988)
On Sept 26, the Senate of the United States proclaimed the week of April 24-30 as Mining Awareness Week by adopting Senate Resolution 289. Mining Awareness Week coincides with the dates of amc’s MINEx…
Manridge gets financing
Manridge Explorations has completed a financing with Brault, Guy, O’Brien Inc., an investment house, which raised $1.85 million. Of this amount, $1.45 million was raised on a flow-through share basis….
Ponask in Jamaica
An option has been acquired by Lake Ponask Gold which gives the company the right to earn a 50% interest in a property in Jamaica. Known as the Hope mine property, the ground was mined for lead in the…
Getty tells shareholders not to act on Total ofer
Following an evaluation by Wood Gundy Inc., Getty Resources is advising its shareholders not to tender their shares to Total Resources (Canada). Total has made an offer to buy all the issued and outst…
Mary Ellen project funded by Pacific
An exploration program, funded by Pacific Trans-Ocean Resources, has begun on a property optioned from Mary Ellen Resources. Located in Eby Twp., six miles west of Kirkland Lake, Ont., the property co…
Research focuses on alternate backfill methods
Ontario’s mining industry is currently involved in eight backfill test projects directed at finding safe and cost-effective alternatives to widely used methods of backfill. The testing is being done u…
Prospectors criticize tax reform
Proposed tax reform by federal finance minister Michael Wilson which would see the elimination of flow-through funding at the end of 1989 is a “serious over-reaction,” says the Prospectors and Develop…
Mtn. West/Homestake joint venture amended (January 11, 1988)
Changes have been made to a joint venture agreement between Mountain West Resources and Homestake Mining on the Elkhorn gold property located 22 miles south of Helena, Mont. Under the original January…
Toronto Stock Exchange New Year ushered in with three-day rally
The New Year is being ushered in with a three-day rally which has added more than 103 pts to the tse composite index. Today, the index picked up 25.29 pts to close at 3,263.3 pts. Market players are k…
Discovery West ponders Colomac Lake decision
A spokesperson for Johnsby Mines says the company has not decided yet whether it will put up 40% of the financing required to bring the Johnsby Colomac Lake gold property to production. A joint ventur…
Westmin to drill with Eastmain and MSV
A 12,500-ft drilling contract has been let by Westmin Resources which will test several targets on the Westmain project shared with partner Eastmain Resources in Quebec. MSV Resources, which can earn …