Open-pit eyed at Kemess North
Northgate Exploration (NGX-T) reports that its Kemess North gold-copper project in north-central British Columbia contains a resource of 4 million oz., enough for a mine life of 11 years. According to…
2003
McWatters pulls plug at Sigma-Lamaque
McWatters Mining (MWA-T) has ceased mining at its money-losing Sigma-Lamaque open-pit operation in Val d’Or, Que. Milling, however, will continue until all stockpiled ore has been processed.Meanwhile,…
Newmont buys into Southwestern
Vancouver — Newmont Mining (NEM-N) will buy 450,000 shares of Southwestern Resources (SWG-T) at $15 per share for total proceeds of $6.75 million. Newmont has agreed, for 12 months, not to sell the s…
Canyon tables new study
One of the highlights of the report period ended Oct. 6 was the tabling of a prefeasibility study of Colorado-based Canyon Resources’ 10.9-million-oz. McDonald gold project in Montana, which has been …
OGS geologist wins medal
Peter Barnett, a geologist with the Ontario Geological Survey (OGS), has received the 2003 provincial geologist’s medal. The presentation was made during a conference of Canada’s energy and mines mini…
Inmet, Outokumpu rework share deal (October 13, 2003)
Finland’s Outokumpu has raised ;23 million by selling 4 million shares in Inmet Mining (INM-T).The shares were issued to Outokumpu as part of Inmet’s acquisition of the Pyhasalmi copper-zinc mine in F…
H. Douglas Hume
H. Douglas Hume, founder and chairman of Toronto-based Nuinsco Resources, has died. He was 82.Hume founded Nuinsco with geologist George Archibald, a life-long friend and business partner.The two met …
S Malartic samples Croinor
South Malartic Exploration (MSU-V) and Richmont Mines (RIC-T) have arranged a custom-milling agreement for a bulk sample from the former’s Croinor gold deposit, about 70 km east of Val d’Or, Que.South…
Midway drills Spring Valley
A reverse-circulation drill program is testing a strong gold prospect at the Spring Valley property in Nevada’s Pershing Cty.Midway Gold (MDW-V) will drill 3,000 metres in order to test a gold-bearing…
Junior exchange follows gold trend (October 13, 2003)
Vancouver — A hiccup in the price of bullion kept Canada’s junior exchange from experiencing another week of impressive gains. The S&P-TSX Venture Exchange composite index closed up one tenth of a po…
Afcan tops up till for TJS project
Junior Afcan Mining (AFK-V) has raised $9.4 million by privately placing 40 million units priced at 25 apiece.The units, consisting of a share and half a warrant, are subject to a 4-month hold period…
New Jackson bodies bear stones (October 13, 2003)
Sampling of three areas of frost boil on Twin Mining’s (TWG-T) recently discovered Jackson Inlet kimberlite bodies has proved fruitful.In all, three samples totalling 50.5 kg yielded 13 diamonds, with…