Puffy Lake mine faces uncertain future
Mining and milling operations at the Puffy Lake mine in north central Manitoba will be reduced and suspended over the next three months while Pioneer Metals (TSE) seeks to identify an operating plan t…
News
Regal Goldfields gets Lac St. Jean claims
Two blocks of claims in the Lac St. Jean area of Quebec have been acquired by Toronto-based Regal Goldfields (COATS). According to President Douglas Bannerman, the first property comprised of 18 claim…
Oneida gets drill results from Mexican hat project
Oneida Resources (VSE) has received encouraging results from initial exploration on its Mexican Hat property in Cochise Cty., Ariz. Of 74 surface samples taken, 36% assayed in excess of 0.01 oz gold p…
Earnings Reports (March 27, 1989)
Sonora Gold Corp. (VSE) reports for the year ended Dec 31 a net loss of $4.6 million or 26 cents per share on revenue of $36.5 million. For the same period a year earlier the company reported a net l…
Hansuld considers future after Canamax departure
John Hansuld is contemplating his future in the mining industry after resigning recently as president and director of Toronto-based Canamax Resources (TSE). Reached at his home in Mississauga, Ont., H…
Timmins Report The end of MEDA hurts exploration
Exploration activity in the Porcupine gold mining camp has dropped dramatically, hit hard by the end of the mineral exploration depletion allowance (MEDA) “Exploration is coming to a screeching halt,”…
X-Cal begins reserve calculations for Snowbird
X-Cal Resources (TSE) says its winter drilling to date has located possible reserves of about 250,000 tons grading 0.20 oz gold from the North zone on its 6,000-acre Snowbird property near Fort St. Ja…
IOCC GOLD OPTIONS (March 27, 1989)
Options Open Series Volume Last Interest May 390 C * 146 14.70 573 May 400 C * 218 10.00 3,733 May 420 C * 715 2.80 2,858 May 460 C * 100 0.40 1,505 Aug 400 C * 11…
Golden Bear cost doubles putting project at risk
The Golden Bear project of North American Metals (VSE) and Chevron Minerals in northwestern British Columbia could be in jeopardy because of higher than anticipated start-up costs according to North A…
Santa Maria gets new gold property
Toronto-based Santa Maria Resources (TSE) has acquired an additional 174 claims in the Muskeg Lake area of northern Ontario. The property is located west of the town of Pickle Lake, and is underlain b…
Correction (March 27, 1989)
Union agreements do not require Campbell Resources (TSE) to keep its S-3 mine open as recently reported (N.M., Mar 20 /89). Campbell is exploring for additional reserves in the hope of prolonging the …
Details still under discussion of Dumagami, Agnico merger
Dumagami Mines (TSE) was expected to announce a merger with Agnico-Eagle Mines (TSE) at Dumagami’s annual meeting, but the issue didn’t even come up until after the meeting when company representative…