Feds to spend $10m to boost Arctic mining
The federal government will spend an additional $10 million over two years on geological maps and surveys in Canada’s north in an effort to stimulate exploration and development.The funding is part of…
News
South Africa takes action on mine safety
The government of South Africa has stopped black-owned company New Diamond Corp. (NDC) from mining and prospecting at Schmidtsdrift, an alluvial diamond mine in the Northern Cape.The Department of Min…
Blue Ice proves puzzling
After a summer’s drilling on the High Arctic Blue Ice project at Victoria Island, there appear to be more questions than answers for Diamonds North Resources (DDN-V).Both the Carina and newly discover…
People (November 24, 2003)
Alliance Resource — Brian Cantrell appointed VP and CFO.Desert Sun — Peter Tagliamonti appointed VP and COO.European Goldfields — Eduardo Baer appointed president and executive directo…
Fortune expands zone at Nico (November 24, 2003)
A 13-hole drilling program by Fortune Minerals (FT-T) at the Nico polymetallic deposit in the western Northwest Territories has expanded the known mineralization in the deposit’s West Pit area.The new…
Caledon finds wide zones on surface at Gaolong (November 24, 2003)
Surface sampling at the Gaolong gold deposit in Guanxi province, China, by London-listed explorer Caledon Resources (CDN-L), has shown extensive widths of silicified and brecciated limestone carrying …
Rimfire hits mineralized breccia at Thorn
Vancouver — Systematic exploration over the Thorn property by partners Rimfire Minerals (RFM-V) and Cangold (CLD-V) has resulted in the discovery of a polymetallic heterolithic breccia some 130 km so…
Spot Prices Tuesday November 18, 2003 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$392.42+14.10Silver$5.21+0.28Platinum$762.00+20.00…
Fury finds two zones at Windfall Lake
A new structural model drawn at Windfall Lake, in northwestern Quebec, seems to be holding up for Fury Explorations (FUR-V).Fury can earn a 37.5% interest in the property, which covers 534 ha (5.3 sq….
Sulliden outlines geochem targets at Shahuindo (November 24, 2003)
Reconnaissance soil geochemistry by Sulliden Exploration (SUE-T) at the Shahuindo property in Cajamarca department, northern Peru, has outlined targets with elevated gold concentrations.The 90-line-km…
Lending Rates (November 24, 2003)
as of 4 pm ET, Nov. 18, 2003(%)Bank of Canada3.00Target overnight rate2.75Canadian Prime4.50U.S. Discount Primary2.00U.S. Fed Funds market rate1.00U.S. Prime4.00LIBOR US$ 3-month1.17LIBOR US$ …
Partners test Trinidad South (November 24, 2003)
Globestar Mining (GMI-V) has launched a 2,000-metre drill program over the 3-sq.-km Trinidad South gold-in-soil anomaly on the Bayaguana gold project in the Dominican Republic.Globestar believes Trini…