News

Vancouver — Drilling at Imperial Metals‘ (III-T) 50%-owned Huckleberry mine, 123 km southwest of Houston, B.C., has identified a new copper-molybdenum zone just north of the main pit at the mine site.

With its 40%-owned Samira Hill gold mine up and running in neighbouring Niger, Etruscan Resources (EET-T) is free to focus on its Youga gold project in Burkina Faso.

United States stock markets drifted marginally lower over the report period Jan. 5-11, with the S&P 500 index down 5.06 points at 1,182.99.

The week of Jan. 5-11 saw the price of gold fall to US$420 per oz. on Jan. 10 before climbing back up to US$421.35, where it closed in the afternoon in London (down US$6.40 over the period). The gold index was down one point to close at 198.69. Th…

Junior mining stocks appeared to be resurging over the trading period Jan. 4-11. The TSX Venture Exchange lost 15 points, or less than 1%, to close at 1772.53, largely owing to the weak gold price.

The Luscar Energy Partnership, which consists of equal partners Sherritt International (S-T) and the Ontario Teachers Pension Plan Board, intends to double the capacity of the Coal Valley mine, 100 km south of Edson, Alta.

Vancouver — The Eritrean government is seeking further meetings with foreign companies exploring for minerals in the East African country. The move comes four months after its surprising and unexplained ban on all exploration within its borders.