Celtic acquires polymetallic project
Junior Celtic Minerals (ASE) will acquire the Wing Pond gold-silver and base metal property east of Gander, Nfld. It may do so by paying the vendor $10,000 in cash and issuing 950,000 Celtic shares. T…
Articles by Northern Miner Staff
Manhattan Minerals obtains line of credit
A US$7.5-million line of credit has been arranged by Manhattan Minerals (TSE), to be used primarily for developing the Moris heap-leach gold mine in Mexico’s Chihuahua state. Up to US$5 million will b…
Freewest options Barry Twp. ground
An option to earn a 60% interest in 18 claims adjoining ground where Murgor Resources (VSE) made a gold discovery has been acquired by Freewest Resources Canada (TSE). Freewest can earn the interest f…
VenCan grants option to Chesbar
Junior companies VenCan Gold (ME) and Chesbar Resources (ME) have signed an agreement relating to their gold exploration joint venture in Venezuela’s Bolivar state. The agreement, which is still subje…
Sutton to calculate costs for Marudi gold project
Having completed its 1994 drilling program on the Marudi concession in southern Guyana, Sutton Resources (VSE) will next determine capital and operating costs for an open-pit mine. Two deposits, Marud…
Highwood to test sodalite deposit
A sodalite deposit in southern Greenland has drawn the interest of Highwood Resources (TSE). The junior has reached an agreement-in-principle with Mineral Development International A/S of Denmark for …
Canchrome finances Turgeron program
Montreal-based Canchrome Mines (ME) will use proceeds from a private placement to carry out drilling on the Turgeron gold property in northwestern Quebec. The $150,000 placement consisted of 375,000 f…
NEWS ROUNDUP — ITEC completes $5-m financing
ITEC Mineral, a 67%-owned subsidiary of St. Genevieve Resources (ME), is raising funds to upgrade its Norebec-Manitou mill near Val d’Or, Que. Proceeds from a $5-million financing, consisting of 1.7 m…
Kennecott deal sets precedent
In what is described as a “win-win” situation, the U.S. Forestry Service will allow a subsidiary of Kennecott to explore for and extract minerals from a parcel of land within the Tongass National Fore…
NEWS ROUNDUP — Aussies set sights on Cliff Resources
Shares of Australian-based Black Hill Minerals and Strategic Industry Investments will be exchanged for shares of Cliff Resources (TSE). Although the exchange ratios have not been determined, the dire…
Sharpe and Freewest cut sulphides in Wisconsin
The first hole drilled by partners Sharpe Energy and Resources (VSE) and Freewest Resources Canada (TSE) on their Horseshoe property in Wisconsin has yielded a significant base metal intersection. Hol…
Drilling under way at Big Gossan
Drilling of the western extension of the Big Gossan copper-gold deposit in Indonesia has returned high-grade values for Freeport-McMoRan Copper & Gold (NYSE). Situated 1 km from the company’s mill on …