Exploration inAlaska up by 19%
A review of exploration activity in Alaska for 1990 shows spending increased 19% to US$56.7 million from the previous year’s US$47.8 million. Three gold projects near Juneau, all in advanced stages of…
1991
Minera proceeds with Ivan study
Toronto-based Minera Rayrock (TSE) says initial capital costs to build a new copper mine at 100% owned Ivan property in Chile are estimated at US$19.5 million, including US$3 million for working capit…
Cambior to purchase another 25% of mine
Montreal-based Cambior (TSE) has reached an agreement to purchase an additional 25% interest in the Valdez Creek placer gold prospect in Alaska from a subsidiary of Valdez Gold for US$6 million. Once …
NovaGold’s ambitions rely on processing technology
The corporate strategy of NovaGold Resources (TSE), based in Halifax, N.S., is to become a “vertically integrated major mining company,” says company Comptroller Glenn Holmes, and “a world leader in t…
Cassiar miners back at work
A union dispute at the Cassiar mine in northern British Columbia has been resolved by the ratification of a 2-year agreement by the mine’s 330 union employees. The mine is owned and managed by a unit …
Denison to reject Hydro price offer
The future of Denison Mines’ (TSE) Elliot Lake, Ont., uranium mine continues to hang in the balance now that the company and Ontario Hydro have failed to agree on a new pricing formula for a long-term…
U.S. REPORT Hemlock options Nevada gold bet
Golden Hemlock Explorations (VSE) has signed a letter of intent to earn a 50% interest in Golden Quail Resources (VSE) gold property in San Bernadino Cty., Calif., 60 miles south of Las Vegas, Nev. He…
Thompson Belt, Flin Flon attract most attention in Manitoba
Projected exploration expenditures in Manitoba in 1990 are expected to be slightly lower than the estimated $40 million spent in 1989. Claim staking in 1990 was down 30% as compared with 1989 but more…
Columbia planning drilling on Spectrum
After a successful exploration program in 1990, Columbia Gold Mines (VSE) plans to spend about $1 million on the Spectrum property in northwestern British Columbia during the coming season. Columbia i…
Busby steps down from juniors
Donald Busby, a well-known promoter and financier, has resigned as a director of International Mahogany (TSE) and Kap Resources (VSE). International Mahogany holds a 70% interest in the Jolu gold mine…
FINANCING (March 25, 1991)
Moraga Resources Ltd. — 1,000,000 units consisting of 1 sh and 1 wt offered @ 74 cents per unit. Golden Eagle Resources Ltd. — 1,500,000 shs offered @ 10 cents per unit.
Longold acquires Benoit properties
Vancouver-based Longold Resources (VSE) has acquired two properties in Benoit Twp., Que. where several juniors have recently become active following a recent gold discovery by TSE-listed Freewest Reso…