Musto funds earmarked for Utah project
Musto Explorations says it’s “continuing to explore a number of alternatives for improving its working capital position.” President H. Lutz Klingmann confirms that some of the funds would be used to f…
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Power option with Van Horne
A deal has been signed between associated companies Power Explorations and Van Horne Gold Exploration. Power has the right to earn a 50% interest in Van Horne’s gold property five miles south of Dryde…
Placements raise $7m for Galveston
Two agreements with NIM and Co., Ltd. Partnership — 1987, dealing with private placements of common shares on a flow-through basis, have been closed by Galveston Resources. The agreements provide for…
Bogosu program well under way says Sikaman
The field program, on the Bogosu property, by Canadian Bogosu Resources, a Ghanain company jointly owned by Sikaman Gold Resources, and Denison Mines, is well under way, reports A. T. Griffis, Sikaman…
Montreal Exchange Audrey trades higher
Continuing to trade actively on the Montreal Exchange is Audrey Resources, which this week closed up 90 cents to $4.35 on a volume of 670,200 shares. Audrey has a 70% interest in the Mobrun project (…
Mets project calls for $1.1 m.
A $1.1 million exploration program is scheduled this summer on the Mets project of Manson Creek Resources and Golden Rule Resources in the Toodoggone area 160 miles north of Smithers, B.C. Their 1986 …
High River, Nor-Acme to develop Snow Lake
Underground exploration is expected to start shortly on the Snow Lake gold property, following the completion of an agreement between Nor-Acme Gold Mines and High River Resources. The latter company h…
Monk plans to mill small Wawa deposit
Monk Gold & Resources has signed an agreement with a private company to have 50,000 tons of material mined and milled. The reserves, on Monk’s property near Wawa, Ont., grade 0.35 oz gold per ton. Mon…
Outokumpu Mines buys 40% stake in Namew Lake
A 40% interest in Hudson Bay Mining and Smelting’s high-grade Namew Lake nickel deposit has been purchased for $5.2 million by Outokumpu Mines. Located in Manitoba, the Namew Lake deposit hosts reserv…
Reserve inventory set for Quartz net project
A reserve inventory has been calculated by Wright Engineers for Quartz Mountain Gold’s 10,000-acre gold property in southern Oregon. Using a 0.01 oz cutoff grade, reserves now stand at 128.6 million t…
Sands to drill Ore Chimney bet
A 5,000-ft drilling program has started on the Ore Chimney mine property in Barrie Twp., Ont. Vancouver-listed Sands Minerals Corp. arranged for $150,000 in flow-through funding through tap Mineral Ex…
Noranda official backs free trade
A free trade agreement with the United States is “essential” for Canada’s economic future and for the Canadian mining industry, William Deeks, president of Noranda Sales Corp., said at the 89th annual…