News in Brief (May 16, 1988)
Lenora Explorations (TSE) and Mary Ellen Resources (VSE) have entered into preliminary discussions regarding the possible merger of the two, the boards of directors of the companies have announced.
News
NovaGold financing (May 16, 1988)
NovaGold Resources of Halifax has signed an agreement with M.E.Q. (1988) Mineral Exploration and Co. Ltd. Partnership, providing for the purchase by the latter of $2,510,000 of flow-through NovaGold c…
Most successful Conwest marks 50th anniversary
One of the most successful resource companies in Canada today, Conwest Exploration (TSE) will be celebrating its 50th anniversary next month. A success story from Day One, it is something of a chronic…
Echo Bay, Nuinsco still short of mineable grades at Cameron
The jury is still out on the mineability of the Cameron Lake gold deposit in northwestern Ontario, shareholders were told at Nuinsco Resources’ (TSE) recent annual meeting in Toronto. Partners Nuinsco…
Breakwater says financing available for acquisition
With $36.4 million in working capital and its bank debt paid off, Breakwater Resources (TSE) has the financial clout for a major acquisition — and the target could be Asamera Inc.’s (TSE) minerals di…
Obituaries (May 16, 1988)
Thomas M. Crandell, vice-president mining for Orofino Resources, died in Orillia, Ont., May 6 after a brief illness. Crandall, who was also general manager operations for Orofino’s parent company, Nor…
Denison has sold its interest in Standard Trustco
After failing at the first attempt, Toronto based Denison Mines (TSE) has sold its 44.8% interest in Standard Trustco Ltd. to Roman Corp. for $71.6 million, the company said recently. The new $22.95 p…
Northgate remains quiet on acquisition rumors
Since Northgate Explorations (TSE) sold its Chibougamau, Que., gold/copper mines to Western Mining of Australia in December for $160 million, the question most asked around the Northgate offices is “w…
Faith Mines starts drilling program
Faith Mines (VSE) has commenced an 8,000-ft diamond drill program on 7 1/4 mineral claims situated approximately 2,000 m east of Perron Gold Mines’ Sleeping Giant deposit in Chaste Twp., Que. Faith en…
X-Cal pulls good gold assays at Snowbird’s new North zone
Some encouraging drill results were released recently from X-Cal Resources’ (TSE) Snowbird gold property near Fort St. James, B.C. The Toronto company is currently drilling the new “North Zone” which …
Alberta Sotck Exchange Mohave trades high
An announcement that Mohave Gold has delivered a letter of intent to buy and Nevada-based gold/silver producer called Canyon Development Mining Inc., made Mohave one of the most active traders. With 4…
New Privateer Mine to start operating
New Privateer Mine says permission has been received for the treatment of the first 10,000 tons of ore in the recently-completed concentrator. Progress is under way with both primary and secondary cru…