Canadians find gold on Aruba
In something of a coup, a little known junior Canadian mining company, Monte Carlo Gold Mines, has obtained the exclusive mining concession to this beautiful Dutch island in the Caribbean Sea just 15 …
News
Zahavy to buy Getty’s interest in Favourable Lake
Alberta-listed Zahavy Resources has exercised its right of first refusal and has decided to purchase Getty Resources’ 50% interest in the Favourable Lake joint venture property located north of Red La…
Getty, Noranda drilling expands Tundra potential
The first two holes of the 1987 exploration season on the Tundra property have confirmed the continuation of gold-bearing zones both at depth and along strike, partners Noranda Inc. and Getty Resource…
Plexus financing (April 20, 1987)
An $11-million equity offering is being planned by Plexus Resources, the company says. The financing will follow upon the completion of contracts being prepared between the company and Kennecott which…
Program growing
The Nickel Development Institute is expanding its engineering workshop program. A numer of workshops were conducted in the southern U.S. during the first half of this month and more are scheduled else…
Drilling program set for property
Exploration of the Bellavista, Costa Rica, gold property in the Caribbean, a joint-venture project, has revealed to date reserves of 4.1 million tons grading 0.12 oz per ton. The joint-venture compani…
PEOPLE (April 20, 1987)
ONTARIO PETROLEUM ASSOCIATION — M. R. Hayhow elected president for 1987.
Lacana completes sale of shares
Lacana Mining says it has completed the sale of five million common shares, represented by deposit receipts, at $12 each. The proceeds have been used to reduce the debt incurred from Lacana’s recent p…
Madeleine gets grant for road construction (head)
Madeleine Mines has received a commitment from the Ontario government to conditionally contribute up to $25,000 per kilometre for an access road to its Lac Des Iles project in northwestern Ontario. Cl…
Parklane drilling
Drilling by Parklane Technologies in the Beardmore, Ont., area has identified a quartz vein zone near an iron formation unit. Assays from the zone are expected shortly, the company says. Bay Resources…
Zone discovered
Drilling by Yorbeau Resources has led to the discovery of a new mineralized zone on the company’s Astoria property south of Rouyn, Que. The new zone, known as the Aw, has been intersected by 11 holes …
Brighter picture for Campbell Res
A net income of $875,000 has been reported by Campbell Resources of Toront for the 6-month period ending Dec 31. The company, which had a net loss of $16 million for fiscal 1986, has show a profit for…