Colby acquisition
A block of 32 claims in the Kenora, Ont., gold belt has been acquired by Colby Resources, the company says. The block is located between two claim blocks under development by the Echo Bay/Nuinsco join…
News
CORRECTION (May 25, 1987)
Courageous Lake map run in May 18 issue of The Northern Miner incorrectly identified Getty Resources Ltd.’s trading symbol as GBY. Getty Resources trades on the Toronto Stock Exchange and their tradin…
Vancouver Stock Exchange Market succumbs to profit-taking
The market has lost some of its earlier strength and appears to be consolidating for its next upward move. Trading volume has dropped sharply and not surprisingly many stocks have succumbed to profit-…
Sonora mine in production
After a 2-year delay due to enviromental restrictions and bureaucratic red tape, the first gold bar was poured recently from Sonora Gold Corp.’s Jamestown Mine in California. Expected to produce aroun…
Eldorado’s debt precludes positive uranium benefits
At a time when the worst appears to be over in the uranium industry, Eldorado Nuclear finds itself unable to enjoy the benefits of a firming market for its product. The banks, which financed Eldorado’…
Black Cliff Mines options Malartic property.
Nearly seven years after it reopened the former Vinray gold mine in Malartic Twp., Quebec, Black Cliff Mines of Toronto has optioned the property to Rouyn, Quebec-based Exploration Essor. Exploration …
Lenora planning underground work
An underground exploration program is being planned by Lenora Explorations for the company’s Golden Harker property near Kirkland Lake, Ont. The program will enable sampling and testing of reserves to…
News in Brief (May 25, 1987)
Mark Resources recently completed its previously announced $50.3 million financing. The Calgary based company has received receipts for the final prospectus qualifying the common shares and debentures…
Metal snips (May 25, 1987)
Growth in China’s wire and cable sector is likely to be rapid, with copper consumption in the country expected to rise by about 60% during the next 10 years, predicts the Commodities Research Unit of …
Alaska placer mine enters fourth year of operations
A $150,000(US) development drilling program has begun at the Valdez Creek placer gold mine in Alaska, and stripping operations are expected to get under way there in early June. The work program opens…
Pine Point seeks interest in mine
With operations in the Northwest Territories expected to cease in 1988, Pine Point Mines is negotiating a 40% interest in Cominco’s Polaris mine in the High Arctic. Noting that the company is now in t…
Brosnor plans exploration work on 3 properties
A $3-million exploration program for 1987 has been announced by Brosnor Exploration for three Quebec properties. The Louvicourt Twp. gold property in northwestern Quebec will be the site of most of th…