Newfoundland exploration bolstered by majors
Although it’s not as hectic as last summer, Newfoundland’s mineral exploration industry is enjoying another healthy season thanks largely to major mining companies who have firmly established their pr…
1989
McNickel completes $3.4M financing, starts drilling
With a successful $3.45-million public financing behind it, Toronto- based McNickel Inc. (COATS) has started a 20,000-ft drilling program on its Lac St. Jean nickel-copper prospect north of Dolbeau, Q…
Toronto Stock Exchange Falconbridge takeover bid ignites buying
Mining issues — specifically base metal mining issues — led trading activity on the TSE as more than 33.3 million shares changed hands. Almost 10% of that trading was in the form of Falconbridge Ltd…
Gowest, Texmont drilling Tully find
A major drilling program is expected to get under-way this year at the Gowest Amalgamated Resources (ASE), New Texmont Explorations (ASE) gold property at Tully Twp. north east of Timmins, Ont. Plans …
Editorial Coal and alfalfa
Land reclamation is always a sensitive topic for miners and environmentalists alike. In the past, the former saw little value in spending money to reclaim mined lands whereas the latter have tradition…
Bank of Nova Scotia index declines for fifth month
Falling precious and base metal prices contributed to a further decline in Scotiabank’s all-commodity price index in June. The index dropped 2.9% from May, the fifth consecutive monthly decline. Bank …
Canadian Giant to explore Terrex’s Newfoundland bet
Exploration is expected to get under way soon at a group of Newfoundland claims acquired recently by Terrex Resources (ASE) from Nippers Harbour Minerals Ltd. Situated about 10 km south of the Bitech …
Vancouver Stock Exchange Alaskan project boosts Fairbanks 50^
It may not be happening in any major way in Vancouver, but brokers here are heartened by the recent upswing in trading activity on the big boards back East. However, unlike several years ago when juni…
Blue Emerald starts Lac St. Jean program
A $500,000 exploration program has begun on a group of four grassroots exploration properties under option to Blue Emerald Resources’ (VSE) in the Lac St. Jean area of Quebec. The largest of the four …
Front Picture
Morten Riset, a refinery operator with Cheni, stands beside gold bar at the Lawyers mine site. Photo by The Northern Miner…
Low gold prices forcing closure of MacLellan mine
After much success in reducing costs, improving efficiencies and increasing gold production, LynnGold Resources (TSE) fell victim to plummeting gold prices. After sustaining continued losses at its Ma…
Fairbanks drilling hits 1,130 ft of 0.043 oz gold
Recent drilling by Fairbanks Gold (VSE) at the Fort Knox property near Fairbanks, Alaska, has encountered broadly disseminated free gold extending from surface to a depth of more than 1,000 ft. Becaus…