News in Brief (October 05, 1987)
Duration Mines has completed a private placement with isa Pacific Gold Fund which netted the company $190,000. Duration issued 100,000 shares at $1.90 per share.
News
D’Or Val, bank reach agreement for bond issue
Agreement has been reached by D’Or Val Mines with Banque Indosuez, Geneva, Switzerland, for the placing of a convertible bond issue in the amount of 35 million Swiss francs (about $30.5 millionC) with…
Cons NRD to continue drilling cmapaign
Eight drill holes totalling approximately 5,125 ft have been completed on Consolidated NRD Resources’ Pinto South property near Val d’Or Que. The company says the gold-bearing intersections are simil…
Skylark gets hot play in Nevada’s Carlin trend
Skylark Resources has entered into an agreement with a U.S. company to earn a 60% interest in a claim block located within the Carlin trend in Nevada. The property is surrounded on two sides by Ameri…
Toronto Stock Exchange Volatile market records a small decline
With the composite 300 index off 7.3 pts at today’s close to 3,902.37 pts., the market continues to exhibit its volatile nature, which might best be illustrated by a gold and silver index that set a r…
Producers strive to keep costs low
Averaging costs in 1986 at 147 primary gold mines, Mine Development Bimonthly calculates that 50% of the gold cost less that $200(US) per oz to produce, with 75% of the gold produced at or under $230….
X-Cal discovers third gold zone
A third mineralized zone has been discoverd by X-Cal Resources on the company’s Tyax property in B.C. The claims are located in the Bralorne-Bridge River area. The new zone returned an average grade o…
News in briefs (October 05, 1987)
MFC Mining Finance says it will purchase VenturesTrident’s 25% joint-venture interest in Cactus Gold Mines’ operating heap-leach gold mine in California, 50 miles northeast of Los Angeles, in return f…
NSR set to begin ramping at Rand Malartic project
De-watering of the existing underground workings at the Rand Malartic gold project at Val d’Or, Que., is almost complete, NSR Resources reports. Ramping is set to begin as soon as the dewatering is fi…
Lupin-style sulphides found at Aber/Highwood bet
Vancouver-based Aber Resources says it is encouraged by drilling results at its Butterfly Lake project in the Northwest Territories’ Mackenzie district. Located 15 miles southeast of the Lupin mine wh…
Editorial Extend flow-through to the Third World
Thanks to the flow-through financing introduced by the federal government, this country is witnessing the greatest gold rush in its history, with upwards of $1 billion to be spent on its exploration t…
U.S. finds platinum in Alaska
Laboratory analyses of six gold ore samples from mines near Fairbanks, Alaska, revealed substantial amounts of platinum, leading U.S. Geological Survey scientists to conclude in a report that the area…