Montreal Exchange Stratmin gains 20 cents
A sagging market during the first week of the new year gave way to one with a small gain for the report period ended Jan. 15. The market portfolio moved up by more than 5 points on daily volumes in th…
News
Cheni’s drilling at J&L cuts consistent silver-zinc values
Drilling on the recently discovered Yellowjacket zone on the J&L property near Revelstoke, B.C., is returning consistently good results. Cheni Gold Mines (TSE) is funding the drilling program and can …
Fluorspar mine in Newfoundland closes due to depressed prices
A fluorspar mine on Newfoundland’s south coast has been closed indefinitely because of poor market prices. The decision comes just weeks after the mine operator’s parent company, Minworth PLC of Engla…
U.S. REPORT Canyon cuts deal with Kennecott
In a deal potentially worth US$35 million, Canyon Resources (NASDAQ) recently granted Kennecott Corp. the right to earn a 51% interest in the Briggs property located in the Panamint Range of Californi…
Nahanni drilling
Toronto-based Nahanni Mines (TSE) says ground geophysical surveys were completed last month on its South Pipestone gold prospect about 50 km northeast of Timmins, Ont. The survey work identified three…
Ontario to establish Elliot Lake office for mineral development
As part of a plan to bring facilities and staff to areas of greatest public need, the Ontario Ministry of Northern Development and Mines is opening a new minerals development office in Elliot Lake, On…
Grizzly Creek picks up Garrison property
Grizzly Creek Resources (VSE) has purchased an option on a 5-claim property adjacent to the New Buffonta gold deposit in Garrison Twp., Ont. The deposit, currently being mined by partners Perrex Resou…
Bankers running short of time as Colomac fuel supply drops
Bankers who have already lent $90 million for construction of the Colomac gold mine must decide by the end of the month whether to put more money into the project. Otherwise operator NorthWest Gold (A…
Lamaque survey work unsuccessful
No meaningful conductors were uncovered by a deep penetration geophysical survey on a portion of the Lamaque gold mine property at Val d’Or, Que., Golden Pond Resources reported. The company has a 25%…
Prime Equities launched as public company
Headed by Chairman Murray Pezim and President Chet Idziszek, Prime Equities (VSE) was recently launched as a publicly trading company holding under its corporate umbrella interests in numerous resourc…
Merger of JKS, Lamage
Robert Parsons, president of JKS Boyles, recently announced the merger of the JKS line of cutting and coring diamond tools with Lamage, a subsidiary of JKS Boyles since 1983. The new company will be n…
MSV gets $1.7m grant to fund Eastmain road
The remote Eastmain gold deposit in northern Quebec has moved one step closer to production following an announcement that the provincial government will provide financial assistance for a winter acce…