Noranda sells stake in Hemlo
Mining giant Noranda (TSE) will hold on to its remaining 45.7% interest in Hemlo Gold Mines (TSE) after selling a 9.3% stake to an underwriting syndicate by mid-February, said Alan Thomas, senior vice…
1992
1991 expenditures drop in Ontario
Exploration expenditures in Ontario for 1991 are estimated to be $124 million, compared with $141 million in 1990 and $218 million in 1989, says Ontario Ministry of Northern Development and Mines. Min…
Montreal Exchange — Aurizon benefiting
Volumes remained buoyant but the market portfolio and mining and minerals index went in opposite directions during the week ended Feb. 4, the former closing up by 7.8 points and the latter slipping by…
Conference will focus on zinc
Critical issues facing the world’s zinc industry, such as recycling growth, environmental reform and changes in society’s use of such materials, will be on the agenda of an international conference Fe…
New property royalty for Euro
Toronto-based Euro-Nevada Mining (TSE) has acquired a 4% net smelter return on about 27,000 acres of the Alligator Ridge gold trend in Nevada. The company said it paid US$3 million. A portion of the A…
Rio Algom to develop copper mine in Chile
Toronto-based Rio Algom (TSE) will proceed with development of the Cerro Colorado copper mine in northern Chile after receiving approval from the Chilean Foreign Investment Committee. Cerro Colorado w…
Second Inco rig at Fawcett Twp.
Operator Inco (TSE) has moved a second rig on to Fort Knox Gold Resources (TSE) base metal prospect in Fawcett Twp., near Shining Tree, Ont. At the same time, core from hole SG-10, recently completed …
Greater Lenora retains Goldfields play
The inability of RJK Mineral (ASE) to meet an option payment due Dec. 31, 1991, means associated company Greater Lenora Resources (TSE) will retain a 100% interest in the Goldfields gold project in no…
Former gold producer — Miramar aims to reopen Flowery
Management of Miramar Mining (TSE) hopes to bring the Flowery gold mine back into full-scale production. The former producer is in Storey Cty., Nev., about 10 miles east of the famous Comstock Lode. T…
Key-Rio deal
Subject to regulatory approval, Key Anacon Mines (TSE) says it has entered into an option agreement with Rio Algom Exploration, a unit of Rio Algom (TSE), whereby Rio may earn a 60% interest in Key’s …
Northfield options Swansea claims
A letter of intent between a Northfield Minerals (ASE) subsidiary and Hemlo Gold Mines (TSE) has paved the way for further exploration on the Swansea gold project about six miles west of Virginiatown,…
Morning raid on St Lambert
Recently armed rebels known as the Touharegs attacked Canadian drilling company St Lambert’s camp in Takanamat, Africa, at 3 a.m. Although the crew members, from Quebec, did not suffer from any injuri…