News

Vancouver — NovaGold Resources () intends to acquire the shares of SpectrumGold (SGX-T) that it does not already hold.

Higher-than-expected costs at the Petrex mines in South Africa and an unrealized US$13.4-million derivative loss pushed Bema Gold () US$21.5 million into the red during the fourth quarter of 2003.

Underground definition drilling of zone 113 at the Casa Berardi gold project in Quebec continues to exceed the expectations of Aurizon Mines (ARZ-T).

The government of Sierra Leone has cancelled the diamond mining leases held by Rex Diamond Mining (RXD-T).

Drilling by Miramar Mining (MAE-T) is extending mineralization in the Madrid area of the Hope Bay gold project, near Bathurst Inlet in Nunavut.

Metallica Resources (MR-T) has acquired Glamis Gold‘s (GLG-T) net smelter return royalty on the Cerro San Pedro heap-leach gold-silver project in central Mexico.

Early-stage reverse-circulation drilling by Patagonia Gold (PGD-L) at the Cerro Crespo property in Chubut province, Argentina, has intersected gold along a 200-metre-long vein.

Proceeds from a $6.5-million private placement will enable Minera Andes () to advance the Huevos Verdes gold-silver project in southern Argentina.

Vancouver-based Chesapeake Gold (CKG-V) has assembled a portfolio of 10 gold projects in Mexico, including ones in a new epithermal gold district.

Vancouver — Pacific Rim (PMU-V) plans to sell its Chilean unit that holds the Andacollo gold mine to Toronto-based MCK Mining ().

Following positive early sampling results, Goldeye Explorations (GGY-V) plans to open an exploration drift on the Sonia gold and silver prospect in central Chile.

Vancouver — Drilling by First Point Minerals (FPX-V) at the Rio Luna property in Nicaragua has intersected a stockwork zone of high-grade gold mineralization near the surface. The 2,000-metre, 15-hole program is testing the Bal…