Flag drilling
Calgary-based Flag Resources (ASE) is drilling a “large geological structure” on the southern boundary of the Wanapitei anomaly in Rathburn Twp., near Sudbury, Ont. Flag also plans to drill a 5,000-ft…
News
More kimberlite intrusions uncovered — Aber program hits 7
An 8-hole drill program near the south shore of Lac de Gras, N.W.T., yielded seven separate kimberlite intrusions for partners Aber Resources (TSE), Commonwealth Gold (VSE) and SouthernEra Resources (…
Royal Oak halts ERG negotiations
Negotiations have been terminated and will not be resumed regarding the purchase of the processing facility of ERG Resources Inc. in Timmins, Ont., Royal Oak Mines (TSE) reported. Royal Oak said it wa…
New Canamin drilling focuses on high-grade copper core
A drilling program at the Huckleberry property under option to New Canamin Resources (VSE) continues to return excellent copper values. The company is proceeding with a second-phase drilling program t…
Goldex paying $2.05 million for Goldex Extension interest
A member of the Agnico-Eagle Mines (TSE) group of companies, Goldex Mines (TSE), has agreed to pay Montreal-based junior Ormico Exploration (ME) $2.05 million for its 40% interest in the Goldex Extens…
Yellow Point drops venture
A joint venture agreement allowing Yellow Point Mining (VSE) to earn an interest in the Kasperske Hory gold deposit in Czechoslovakia was recently terminated. Yellow Point President Thomas Tough said …
NEWS ROUNDUP — Freegold signing on 007 as partner
An agreement-in-principle sets the stage for 007 Precious Metals (VSE) to earn a majority interest in Freegold Recovery’s (VSE) interest in the Golden Summit project near Fairbanks, Alaska. The terms …
NEWS ROUNDUP — Formosa finalizes financing
The terms of a financing agreement were settled between Formosa Resources (VSE) and its major shareholder, respecting the US$2.09 million advanced to Formosa for ongoing operating expenses. The compan…
Ontario gives grants for research, cleanup
Three environment-related research and cleanup projects will receive grants from Ontario’s Ministry of Northern Development and Mines. The ministry will contribute $15,000 to Falconbridge Ltd.’s study…
NEWS ROUNDUP — More drilling success at Myra Falls
Drilling by Westmin Resources (TSE) is continuing to intersect impressive ore-grade mineralization in the Battle and Gap zone discoveries at the Myra Falls mine property near Campbell River, B.C. A re…
Meikle to address CIM audience
Guest speaker at a Nov. 26 luncheon sponsored by the Toronto Branch of the Canadian Institute of Mining, Metallurgy and Petroleum will be Brian Meikle. He will give an update of his namesake project i…
Australia counts on its minerals
Mineral resources have contributed greatly to Australia’s growth and continue to do so, a luncheon gathering of the Toronto branch of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) w…