Soviet gold sales depress market
Official figures are virtually impossible to get, but it appears the Soviet Union has been selling gold heavily in recent months in order to gain foreign currency. Soviet gold sales in 1985 are estima…
News
Lacana profit takes leap on gold production
Climbing gold sales from the Pinson-Prebble and Dee mines in Nevada in which Lacana Mining has interests, added to a higher gold price, gave the company record earnings for the nine months ended Sept …
Noble Peak gets Matagami claims
An airborne geophysical survey in under way on a large 531-claim pro perty acquired by Noble Peak Resources. Located in the Detour Lake-Matagami area of northern Quebec, the property straddles a 5-km …
Lac appeal decision may drag
The market seems to be saying that Lac Minerals is going to win, to some degree, its appeal of an Ontario Supreme Court ruling awarding the Page-Williams gold mine at Hemlo, Ont., to International Cor…
Audrey’s Mobrun project has initial recovery problem
Recovery problems have cropped up at the Mobrun project, shared equa lly by partners Audrey Resources and Corporation Falconbridge Copper. Located near Rouyn, Que., the deposit is being mined via open…
Novamin cuts high grade gold near Cadillac
Early results from a drilling program started Nov 6 by Novamin Resou rces east of Cadillac in northwestern Quebec have returned some good values including one high grade hole. Of 11 holes drilled on t…
News in Brief (December 08, 1986)
Agassiz Resources reports a profit of $962,387 on revenue of $17,693 ,661 for the year ended June 30 compared with $1,932,156 on revenue of 13,588,194 for the same period in 1985. For the 3-month peri…
Mono raises funds
Mono Gold Mines has completed a flow-through share issue of 500,000 shares at 60 cents per share. The private placement will provide $300,000 to the company. The cash will fund additional exploration…
Big drill at Casa Berardi
With winter setting in, there is a lot of new drilling getting under way in Quebec’s Casa Berardi area. One of the latest to announce a big program is North American Rare Metals (ME) and its joint ven…
Touring Thompson wins northern support
Prospectors and explorationists in northern Ontario are in general agreement with the recommendations of the Thompson committee report on junior mine financing, Chairman Edward Thompson says. Last mon…
Beaufield awaiting drill assay results
Assays are expected shortly from a 7,000-ft drill program under way on Beaufield Resources gold prospect in Douay Twp., Que. Located east of Joutel, the 111-claim property ties on to the boundary of t…
Macamic to explore Gateford chrome bet
A joint venture agreement has been completed between Gateford Resour ces and Macamic Resources which gives the latter company the right to earn a 50% interest in Gateford’s Reed-Belanger chrome deposi…