Correction (September 15, 1986)
A story last week on Grandview Resources incorrectly stated that of the company’s reserves of 16 million tons averaging 0.046 oz gold, “about one-third of that is quite low grade and when eliminated w…
1986
Comstate still busy on Timmins area bets
Comstate Resources says it expects results this month from overburden drilling by Noranda Exploration on Comstate’s Mountjoy south property, and diamond drilling by Falconbridge Ltd., on its Thorneloe…
Echo Bay acquiring three more gold mines
Consolidated gold production for Echo Bay Mines will reach a record 480,000 oz per year by 1987 following the acquistion by the company of three producing mines owned by Tenneco Inc. Located in Nevada…
Sullivan resumes Goldstack drilling
Good results are being reported from drilling on Goldstack Resources’ Dubuisson Twp. property with funds provided by Sullivan Mines. Hole 86-18 has returned a 41 ft intersection from 908.5 ft to 949.5…
News in Brief (September 15, 1986)
Abermin Corp. says it has an agreement for the private placement of 1,092,076 shares, at $1.27 per share, subject to regulatory approval.
Another 2,000-ton mill for Dumagami Another feather for the Eagle
Agnico-Eagle Mines has come up with another winner. For close on the heels of bringing its Telbel Mines’ property at Joutel, Que., into highly profitable production, Agnico is ordering a 2,000-ton mil…
U.S. consuming less iron ore
U.S. iron ore consumption dropped more than 11% in June from the previous month and nearly 13% from the same month a year ago, the American Iron Ore Association reports. Consumption totalled 4.7 milli…
Australia may resume uranium sales to France
The Australian federal government plans to resume uranium exports to France, according to a budget speech delivered in August. “The government put economic rationality ahead of factional passion by de…
Bruneau plans drill program in Estrades Twp.
Out to earn a stake in an Estrades Twp., Que., property, Bruneau Mining Corp. says it will immediately carry out a program of detailed geophysical surveys on the property. A drill program based on res…
Amer. Oakwood and Lacana drilling Toodoggone claims
Drill results are expected shortly from an exploration program being conducted by Lacana Mining Corp and American Oakwood Energy in the Toodoggone area of B.C. Murphy Oil is also a partner in the prop…
Record output for Galactic
Galactic Resources reports record monthly production in August from the Summitville gold mine in Colorado. Chairman Robert Friedland says in that month the mine produced over 9,000 oz, bringing total …
Decline gets green light at Newhawk B.C. bet
Formal approval has been received by Newhawk Gold Mines for an underground decline at its Sulphurets property in northwestern B.C. As expected, Lacana Mining has agreed to fund its share of the projec…