Placer bids to acquire PNG company
A takeover bid has been launched by Placer Dome (PDG-T) for Highlands Gold, a Papua New Guinea-based company that owns 25% of the Porgera gold mine, and for the remaining 24.6% interest of subsidiary …
News
Low gold sales take shine off Rayrock earnings
Poor third-quarter results took the shine off an otherwise improved year for Rayrock Yellowknife Resources (RAY-T).The company lost US$1.8 million (or 10 cents per share) for the period, compared with…
EXPLORATION ROUNDUP — Japanese explorer Sumitomo outlines large gold deposit in central Alaska
With assistance from Watts, Griffis & McOuat (WGM) and the Metal Mining Agency of Japan (MMAJ), Sumitomo has been exploring for the yellow metal in little-known parts of east-central Alaska. The fruit…
Partners expand Wolverine
The geological resource of the Wolverine deposit is now estimated at just over 5.3 million tonnes grading 1.81 grams gold and 359.1 grams silver per tonne, plus 12.96% zinc, 1.41% copper and 1.53% lea…
EXPLORATION ROUNDUP — Fipke determined to climb every mountain
The man who sparked the great diamond rush in Canada’s Northwest Territories is too busy with new projects to spend much time celebrating government approval of this country’s first diamond mine.When …
EXPLORATION ROUNDUP — Sahelian adds to African holdings
The mineral potential of Mali has caught the attention of Sahelian Goldfields (SHGI-C), which has acquired rights to earn a 75% interest in a 200-sq.-km concession in the Kangaba district.The junior h…
EXPLORATION ROUNDUP — Northfield finds zone at Macuchi
A 10-hole drill program on the Macuchi prospect in central Ecuador has uncovered what may be a new mineralized area, reports Northfield Minerals (NFM-T).Drilling 75 metres west of the Mercedes zone, N…
New Island uncovers new zone
Reconnaissance work by New Island Minerals (NLM-A) on its wholly owned Robinson River property in western Newfoundland has identified a new gold and copper zone.The structure, which measures 4 km long…
Alaskan gold district attracts interest of Homestake
The Fairbanks gold district of Alaska has caught the attention of U.S.-based Homestake Mining (HM-N).The major has entered into an agreement to acquire a 100% interest in the Whiskey Gulch and Marshal…
EXPLORATION ROUNDUP — Ashanti steps up efforts in Africa
Shallow drilling by Ashanti Goldfields (ASL-N) has expanded the Geita gold property in Tanzania.The property contains a known resource of 11.9 million tonnes grading 3.44 grams gold per tonne, equival…
EXPLORATION ROUNDUP — AMT boosts inventory at North Copper Creek
Toronto-based AMT International Mining (AAI-T) has expanded its copper inventory in southern Arizona.Reserves and resources rose to 3 billion lb. copper from 2 billion lb., following drilling at the C…
Holmer hits more gold in Timmins
Toronto-based Holmer Gold Mines (HGM-A) has identified two new gold zones at its Main Zone deposit in the Timmins camp of Ontario.The holes tested mineralization in both the hangingwall and footwall o…