Musto, MIM proceed with Alumbrera
YMAD, the Argentine state-owned mining company, has received notice of the decision of International Musto Explorations (Antigua) to develop the Bajo de la Alumbrera gold-copper deposit. Musto has opt…
News
PDAC honors five with awards
The Prospectors and Developers Association of Canada (PDAC) has named Neil Hillhouse “Prospector of the Year.” Other award winners, who will be honored at the March 7 banquet of this year’s PDAC conve…
American Gem testing Montana sapphire play
Newly formed American Gem (TSE) is out to prove that diamonds are not the only commodity with sparkle these days. It is developing a large, gem-quality sapphire deposit in the mountains east of Helena…
Canarc directors defend lawsuit
Faced with a lawsuit related to involvement in a proposed merger between Canarc Resource (VSE) and Rembrandt Gold Mines (ASE), certain directors of Canarc as well as certain investors and Canarc itsel…
Gregor drills Hemlo 1-zone
Junior Gregor Goldfields (CDN) has drilled three holes at 100-ft. spacings on its property in Ontario’s Hemlo camp. The drilling, which was intended to test what is known as the 1-zone, resulted in 0….
Orleans testing bulk sample
Mill testing is in progress on a 100-tonne bulk sample from a wollastonite property near Lac St. Jean, Que. Orleans Resources (ME) says the sample is being processed at a pilot plant operated by the C…
Correction (February 28, 1994)
Funds raised by Altai Resources (TSE) through a 100,000-share private placement at $3 per share (T.N.M., Jan. 31/94) will be used for seismic survey work on gas permits in Quebec. Altai has interests …
NEWS ROUNDUP — Quartz Mountain put on hold
The Quartz Mountain project has been put on hold because of technical and permitting problems, compounded by a lower gold price than expected. The project, in southern Oregon, is owned 50-50 by Toront…
NEWS ROUNDUP — Deak adds reserves to the Kerr mine
Exploration and development have resulted in increased reserves at the Kerr mine in northeastern Ontario. Past estimates of 2.2 million tons at 0.124 oz. gold per ton have been augmented by 459,000 to…
NEWS ROUNDUP — Lenora obtains new Yemeni licence
Junior Greater Lenora Resources (TSE) has cancelled plans to explore 237 sq. km near Aden, the capital of South Yemen. Instead, it has obtained an exploration licence for 73 sq. km in the west-central…
Financing plans for Mariquita
Development will soon begin on the Mariquita copper deposit in northwestern Mexico. A Mexican company held 49% by Cominco Resources International (TSE) and 51% by Empresas Frisco will acquire the depo…
Reserve increase at Prairie Creek
By incorporating results from last year’s drill program, San Andreas Resources (VSE) has beefed up reserves at its Prairie Creek property. Situated west of Yellowknife, N.W.T., the deposit is now esti…