Legacy to fund work on Agnico property
Exploration for deep base metal deposits will begin in June, 1991, on Agnico-Eagle Mines’ (TSE) mining claims in Coleman Twp., near Cobalt, Ont. Legacy Explorations (COATS) has agreed to finance a $50…
News
Jonpol seeks partner while proceeding quietly at Garrison
Although still seeking a joint venture partner for its Garrison gold project, near Matheson, Ont., Jonpol Explorations (TSE) continues to probe the gold zones which remain wide open in all directions …
Amax Gold says Canamax sale to parent Amax is non-event
A spokesman for Amax Gold (TSE) recently described the Colorado company’s recent decision to sell its 44% stake in Canamax Resources (TSE) to parent Amax (TSE) as “a non-event.” The sale of 10.4 milli…
Results from Rendell-Jackman do little to increase reserves
Recent results from Major General Resources’ Rendell-Jackman property in Newfoundland suggest that the Hammer Down gold zone may be pinching out to the east. While probing strike extensions of the zon…
NEWS IN BRIEF (September 10, 1990)
Denison Mines recently sold its 19.5% interest in Parlake Resources (TSE) in a private transaction. Denison declined to reveal the price it received for the 496,611 shares of the junior it sold.
COATS (over-the-counter) Home Lake up 40 cents
On word that Home Lake Resources had staked 100 claims in the Eastmain River area of northern Quebec, shares of the junior company jumped 40 cents to close at $1.55 on a volume of 120,950 for the week…
Brunswick cleaning up smelter
Brunswick Mining and Smelting has started a cleanup program at its Belledune, N.B., smelter, according to Canadian Occupational Health & Safety News. Recommendations for the cleanup were made by an in…
U.S. REPORT First gold poured at Santa Fe’s Rabbit Creek
By 1992, the gold unit of Santa Fe Pacific (NYSE) expects to be producing more than 300,000 oz. gold annually from various mining operations in Nevada. About 200,000 oz. of this amount is targeted to …
Gold rally runs out of steam
The Persian Gulf crisis this summer had an immediate, positive effect on the world’s gold and oil markets, but of late the Iraqi invasion of Kuwait could be said to have added only to the trading vola…
High grade sampling at Treaty Creek
The first phase of exploration on the Treaty Creek Project, 80 km north- northwest of Stewart, B.C., has discovered a new zone of precious and base metal mineralization. Tantalus Resources (VSE) is ea…
U.S. REPORT Galactic revises Cornucopia deal
The proposed business combination between Galactic Resources (TSE) and Cornucopia Resources (TSE) has been revised. The new proposal would have Cornucopia shareholders exchange their shares for 0.55 s…
Brookbank lawsuit one of three facing Metalore
Shareholders of Metalore Resources (TSE) presented some difficult questions to President George Chilian at the company’s recent annual meeting in Toronto. They were looking for some straight answers a…