World Wide acquires Dafang prospect
Libra Gold, the exploration subsidiary of World Wide Minerals (WWSS-C), has acquired Princess Resources’ (PRL-V) 51% interest in the Dafang gold-silver project in China’s Hunan province.World Wide’s C…
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Converse drill results mixed
Drilling at the Converse gold project in Nevada has returned lacklustre results for Cameco (CCJ-T) and Romarco Minerals (R-T).At Converse, the companies, together with 50% joint-venture partner Newmon…
Noranda may drop Caber
Low metal prices are forcing Noranda (NOR-T) to reconsider its participation in the Caber zinc-copper-silver project near Matagami, Que.The major can earn up to 70% interest in the property from South…
Wheaton River nabs Red Mountain
North American Metals (NAM-V), which is 89%-owned by Wheaton River Minerals (WRM-T), has agreed to buy the Red Mountain gold project of defunct Royal Oak Mines for $413,360.Situated in northwestern Br…
Grupo Mexico plans asset sale to pay off debt
Having borrowed US$817 million from Chase Manhattan Bank to acquire Asarco, Groupo Mexico is liquidating non-core assets to cover that debt and beef up its bottom line.As a first step, the Mexican cop…
Miramar Mining buys half of Hope Bay gold project
Miramar Mining (MAE-T) has gained a half-interest in the Hope Bay gold project in Nunavut from Cambiex Exploration (CBX-T).Miramar will act as operator during the feasibility and development phase, wh…
Pacific Rim expands Luicho target
Surface sampling by Pacific Rim Mining (PFG-T) has expanded the Luicho gold prospect in southern Peru.The company has collected 2,711 samples from a 250-metre-wide zone of north-southerly and northeas…
Melkior eyes iron deposit in West Africa
A letter agreement with the government of Ivory Coast sets the stage for Melkior Resources (MKR-M) to earn up to a half-interest in the Mount Klahoyo iron deposit in the West African nation.More than …
Bema finances Julietta project
Bema Gold (BGO-T) intends to raise $9.5 million in a private placement of 10 million special warrants priced at 95 each. A portion of the proceeds will be used to explore the 79%-owned Julietta gold-…
SouthernEra assesses Camafuca samples
Toronto-based SouthernEra Resources (SUF-T) is encouraged by the latest mining results at its Klipspringer diamond property in northeastern South Africa.An average of 41.5 carats per 100 tonnes was re…
Nord Pacific takes over Tritton
The Australian copper deposit known as Tritton, current- ly owned equally by Nord Pacific (NPF-T) and ASX-listed Straits Resources, will soon be owned entirely by the former. Nord has agreed to buy St…