NEWS ROUNDUP — Glamis options Mexican gold
A wholly owned Mexican subsidiary of Glamis Gold (TSE) is acquiring the property known as El Rosario, in Chihuahua state. An initial payment of US$60,000 has been submitted, with a signed letter of in…
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American Gem testing Montana sapphire play
Newly formed American Gem (TSE) is out to prove that diamonds are not the only commodity with sparkle these days. It is developing a large, gem-quality sapphire deposit in the mountains east of Helena…
Canarc directors defend lawsuit
Faced with a lawsuit related to involvement in a proposed merger between Canarc Resource (VSE) and Rembrandt Gold Mines (ASE), certain directors of Canarc as well as certain investors and Canarc itsel…
Gregor drills Hemlo 1-zone
Junior Gregor Goldfields (CDN) has drilled three holes at 100-ft. spacings on its property in Ontario’s Hemlo camp. The drilling, which was intended to test what is known as the 1-zone, resulted in 0….
Interim report recommends rule-making powers for OSC
The interim report of the Ontario securities regulation task force recommends giving the Ontario Securities Commission (OSC) powers to make binding rules. The report also recommends that OSC policy st…
COMMENTARY — Russia offers tremendous opportunity
Despite the recent political turmoil in Russia, a tremendous opportunity exists for Western-based mining companies. Russia accounts for about one-eighth of the world’s land mass, second only to Canada…
Tri Origin reports values from Lewis Ponds
“Promising” best describes results of the first six holes drilled in a recent program on the Lewis Ponds gold and base metal project near Sydney, Australia. Holes 18, 20 and 21 intersected extensive m…
Pangea intersects gold mineralization
Results from 15 of the first 23 holes drilled on the Fenn-Gibb property, near Matheson, Ont., indicate several types of gold mineralization are present. In several holes, Pangea Goldfields (CDN) has f…
Orleans testing bulk sample
Mill testing is in progress on a 100-tonne bulk sample from a wollastonite property near Lac St. Jean, Que. Orleans Resources (ME) says the sample is being processed at a pilot plant operated by the C…
Fairmile plans Buffalo Valley drilling
An initial hole on the Buffalo Valley property in Lander Cty., Nev., has returned gold values in several narrow intersections. Fairmile Acquisitions (ASE) drilled the hole to test for deep, porphyry-g…
Chesbar trenching in Venezuela
Two high-grade sections were encountered during trenching in saprolitic material on La Salle, a gold concession in southeastern Venezuela. Operator Chesbar Resources (ME) and partner VenCan Gold (ME) …
Musto, MIM proceed with Alumbrera
YMAD, the Argentine state-owned mining company, has received notice of the decision of International Musto Explorations (Antigua) to develop the Bajo de la Alumbrera gold-copper deposit. Musto has opt…