Sandhurst closes deal to buy Queenstake block
An Australian placer gold mining concern, Sandhurst Mining has closed earlier plans to acquire approximately 20% each in two Vancouver-based companies, Queenstake Resources and Canadian United Mineral…
1987
Partial dewatering by Cambior, Maufort
The first six levels of the former Siscoe gold mine in northwestern Quebec were dewatered during the recently completed first-phase of an exploration program being undertaken on the property by Cambio…
Expansion complete, Gordex set to pour 12,000 oz in ’88
Although the company poured its first gold bar in June, 1986, Gordex Minerals of Saint John, N.B., has had to find a technological fix to bring its small Cape Spencer gold mine officially into commerc…
Nuinsco deals base metal properties to Seadrift
In a bid to become a Canadian gold producer within 12 months, Nuinsco Resources has dealt some of its base metal properties to Seadrift International in exchange for a larger slice of the Cameron Lake…
Mining consultants views mixed on free trade
As the contents of the Canada/ U.S. Free Trade agreement continue to unfold, it’s clear that greater cross-border access will be offered to Canadian mineral producers. But the agreement may also provi…
Perron Gold raises exploration funds
An exploration agreement has been entered into between Perron Gold Mines and emq (1987) Exploration and Co. Ltd. Partnership whereby Perron will receive $1.05 million in return for 350,000 flow- throu…
Gold-backed Giscard bond poses problems for French
A bond issued almost 15 years ago which is backed by a large amount of gold and which carries a Jan 16 redemption date is causing problems for the French government. Six-and-a-half-million Giscard bon…
Eureka extends zone
A reverse circulation drill program completed by Eureka Resources has confirmed the extension of the Jay zone over a strike length of 750 m. The property is located near Williams Lake, B.C. Over the s…
Montreal Exchange: Abitibi Metals popular
What looked to be a definite upturn in the market, with the gold price stepping however briefly over the $500(US)-per-oz hurdle and the me’s mining and minerals index experiencing daily gains of 33.6 …
Inco spending $51 million on Coleman mine
The old Coleman mine on the north rim of the Sudbury Basin, which was shut down in 1982, will get a new lease on life. Inco Ltd. announced this week it plans to spend $51 million to access the lower p…
McAdam boosts gold reserves at Spud Valley
Reserves in all categories have risen to 247,078 tons at an average grade of 0.41 oz gold per ton at the Spud Valley property on Vancouver Island, McAdam Resources reports. Proven and probable reserve…
Dundee-Palliser pushes for Vezza production
In an effort to bring the Vezza Twp. properties to a production mode, Dundee-Palliser Resources and partner North American Rare Metals have spent approximately $2.8 million on exploration since Septem…