Third of workforce laid off at Detour Lake
Placer Dome (PDG-T) has laid off almost a third of the workforce at its Detour Lake gold mine in northeastern Ontario.The layoffs — part of a plan to reduce production costs — will affect 103 of 347…
Articles by Northern Miner Staff
Abacus tallies resource at Niblack project
Abacus Minerals (AMC-V) has calculated a drill-indicated resource for the Lookout zone of its Niblack volcanogenic massive sulphide project in southeastern Alaska.The resource stands at 1.8 million to…
ODDS’N’SODS — A lunch fit for a mouse
In the 1930s, the Paymaster Consolidated gold mine near Timmins, Ont., was known as the “ham, jam and an orange mine.”When the Paymaster restarted in 1933, for the second time, funds were in short sup…
Metallica makes headway at projects in Mexico and Chile
Reserves have increased substantially at the Cerro San Pedro gold project near San Luis Potosi, Mexico.Metallica Resources (MR-T) reports that oxide reserves now stand at 77.3 million tonnes grading 0…
Ursa Major expands interests in Kazakstan
Junior Ursa Major International (URSA-C) has added a fourth gold property to its portfolio of mineral assets in Kazakstan.The Hamilton, Ont.-based company can acquire a 60% interest in the Nirinsk lic…
Placer Dome drills to a Fault near Detour Lake
Two more holes drilled by Placer Dome (PDG-T) on the Fault Lake property, adjacent to the company’s Detour Lake gold mine in northern Ontario, have intersected gold mineralization.The property, held i…
MOST ACTIVE ISSUES, Jan. 29-Feb. 4
ExchgVol(000s)ClosePure Gld ResT545980.42Placer DomeT…
TORONTO STOCK EXCHANGE INDICES (February 10, 1997)
1997Feb 4Feb 3Jan 31Jan 30Jan 29HighLowComposite”…
Union Pacific lays claim to diamond mine
Diamond miner Redaurum (RRK-T) says it intends to “strenuously defend” title to its Kelsey Lake mine, 45 miles west of Fort Collins, Colo., near the Wyoming border.The company’s rights to the new diam…
Omax Resources plans financing
A private placement of 5 million warrants, priced at 83 cents each, is expected to provide gross proceeds of up to $4.15 million for Omax Resources (OXR-V).The junior company is exploring a number of …
Kennecott drilling at Candle Lake property
Drilling at the Candle Lake property near Prince Albert, Sask., is under way in an effort aimed at collecting 45 tonnes of kimberlite.The project is a joint venture involving War Eagle Mining (WEM-V),…
PRODUCER PRICES (February 10, 1997)
ALUMINIUM: LME settlements US$1,594 per tonne, alloy $1,507 per tonne (Feb.4/97).ANTIMONY: Composite free market, US$2,400 per tonne (Feb. 4/97).BISMUTH: Composite free market US$3.15 per lb. (Feb. 4/…