New zone found at Cannon mine
An extension to the B North ore body of the Cannon mine at Wenatchee, Wash. has been discovered, reports Asamera Inc. The new zone, called the B-4, ext ends to the west and north of the B North, whic…
News
News in Brief (April 20, 1987)
Augustus Resources has changed its name to Croesus Resources on a 1-new-for-2-old share basis.
Merger terms okayed for Cdn Premium, Mahogany Minerals
The boards of directors of Canadian Premium Resource Corp. and Mahogany Minerals have approved an amalgamation ratio for the merger of the two companies. An independent consultant has placed a thresho…
Four Seasons holes cut low grade assays
Drilling by Four Seasons Resources failed to intersect economic gold mineralization on the company’s Beaver Dam property in Nova Scotia. The 2-phase drill program tested sections of the main slate hor…
Whim Creek consortium buying Aussie company
Whim Creek Consolidated, acting on behalf of a consortium, has signed a deal with C.R.A. Ltd., to purchase all the shares of Forrest Bay Pty. for $76.5 million. Members of the consortium include Austw…
Hudbay bottom line better despite weak metal prices
Even though base metal prices continued at depressed levels last year, Hudson Bay Mining and Smelting was able to improve its bottom line, but not enough to boost it into the black. The company’s net …
Accounting policy change adds to Galactic loss
A much more conservative accounting policy has been adopted by Galactic Resources, major gold producing asset of which is the Summitville mine in Colorado. As a result, Galactic reported a year-end ne…
Audrey finds higher grades underground at Mobrun mine
Underground drilling and bulk samples from Audrey Resources’ Mobrun project suggest that gold grades are approximately 30% higher than first estimated, President Guy Hebert, tells The Northern Miner. …
Nearly $1 million spending set by Chevron for yukon bet
Chevron Minerals will be spending approximately $700,000 this year on B.Y.G. Natural Resources’ Mt Nansen gold property in the Yukon. The expenditure is almost identical to last year’s budget which wa…
New projects for Glen Auden Res.
The new projects undertaken by Glen Auden Resources this year include: * Ground geophysics are planned on the 51-claim joint venture with Mineta Resources. The property adjoins Rambo Exploration’s pro…
Seabright sits on jewel of east
On the threshhold of crossing that magic line which separates exploration companies from gold producers is Toronto-listed Seabright Resources. This Halifax- based company plans to produce from its Bea…
Blue Moon shines for Westmin, Colony Pacific in California
A section of zinc rich mineralization has been encountered at Colony Pacific Explorations’ Blue Moon property in California. Westmin Resources has already spent $2.7 million(US) on the property and mo…