50 Years Ago (April 05, 1991)

CANADIAN

MALARTIC

DOUBLES ORE

Another substantial increase in ore reserves, leading to consideration of plans for expansion of milling facilities, has been the principal feature of results at Canadian Malartic Gold Mines during the past year, The Northern Miner learned at the property recently. An increase in mill capacity to at least 1,000 tons daily, as compared with the present 800 tons, is likely to be announced shortly. The increase would be in effect before the end of this year. Development of the two new orebodies has yielded more satisfactory results than were expected by the company.

PERRON GOLD

HAS BEST YEAR

Perron Gold Mines in 1940 had its best year to date from the standpoint of tonnage treated, production earnings and ore reserves. The working capital position was strengthened materially even after the payment of $400,000 in dividends. In the mine, the chief development was the opening of further substantial lengths of ore on the 32 vein structure on the older levels and the good results secured in drifting on this structure at the new horizons reached by the deepening of the shaft.

SISCOE ANNOUNCES

MILL INCREASE

Siscoe Gold Mines is proceeding with plans for increasing capacity of its mill to at least 850 tons daily. The installation is being planned, shareholders were informed by President J.B. Lynch at the annual meeting, so that the company may later increase capacity to 1,000 tons. Total expenditures on new mill equipment are estimated at approximately $100,000.

NEILLY LAMBASTES

REGULATORS

Taxation and overregulation are the reasons for the current apathy that has fallen on the industry, according to well-known Canadian mining executive Balmer Neilly. Speaking at the annual dinner of the Ontario Prospectors & Developers Association, Neilly warned that prospectors are in danger of abandoning their pursuits in the face of unnecessary legislation and regulations. He advocated a “drastic cut” in the authority of the Ontario Securities Commission and in the scope of its work.

ON THE LEVEL

FOR 27 YEARS

With current issues, The Norther Miner enters its 27th year of continuous life. The paper has, since its founding in Cobalt in 1915, followed a course unique among mining publications. The slogan “On the Level” has always distinguished its principles and policies. Born in the midst of the First World War, the paper has survived to the middle of another one. In 1915, few Canadians had much confidence in mines or mining publications. The mining press tended toward the enthusiastic and the promotional. Impartial judgment and accurate reporting were not demanded and the first application of these principles was somewhat startling to operators and the public alike. It took five years to convince more than 500 subscribers that The Northern Miner had introduced a new note of truth into the raucous chorus of indiscriminate eulogy.

ZINC RATIONING

MAY BE IMMINENT

Although there has been no official intimation from Ottawa, The Northern Miner believes the zinc situation in Canada is being closely scrutinized for unnecessary consumption of the metal. When the war broke out, zinc was the weak sister of the base metal group. It now has become one of the scarcest. The war has brought wide and urgent uses for zinc. Canadian output is at an all-time high and every effort is being made by domestic producers to squeeze out the very last pound.