Homestake selling Doe Run interest
Primary lead producer The Doe Run Co. will soon have only one owner. Homestake Mining (NYSE) has agreed to sell its 42.5% interest in Doe Run to Fluor Corp. for US$125 million and indemnification agai…
News
Central Crude’s new concept at Moss Lake sparks scramble
Evidence is building that a large- tonnage, low-grade, open pit gold- copper-silver deposit may be shaping at the Moss Lake project of Central Crude (TSE) in the Shebandowan area, 70 miles west of Thu…
Mines Gaspe to develop new copper deposit
The Mines Gaspe division of Noranda (TSE) says it plans to proceed with the development of a new copper deposit at the company’s mining operation near Murdochville, Que. Development of the new orebody…
Platinova President receives debenture
Platinova Resources (TSE), a Toronto-based company which is involved in gold exploration in Greenland, recently completed a private placement agreement with President Robert Gannicott. Under the agree…
Golden Rule set up to reserve fiqure
Calgary-based Golden Rule Resources (TSE) says results from a winter drilling program on its Tower Lake gold project in northern Saskatchewan “will add substantially to the tons and grade of the previ…
Raising $1 million for memorial fund
In remembrance of the women killed at Ecole Polytechnique in Montreal last December, The 1989 Canadian Engineering Memorial Foundation is trying to raise $1 million for an endowment fund. The money wi…
B.C. plans to build toll road into Iskut River area
British Columbia Premier Bill Vander Zalm recently announced the go-ahead for a 72-km road to reach the resource-rich Eskay Creek and Iskut River areas in the province’s isolated northwest. In a speec…
Silver Drake
A 5,000-ft. reverse circulation drill program funded by Silver Drake Resources (VSE) has started on the Hachita gold property in Hidalgo Cty., N.M. The drill program will test geophysical targets adja…
Gold price likely to remain steady
The gold price is likely to peak in the first part of 1991, but will not exceed the US$450-per-oz. level, according to the Annual Review of the World Gold Industry, 1990, published by Shearson, Lehman…
Poor results from Milestone’s gold bets
Drilling on two of Milestone Resource’s (COATS) gold properties in the Birch Lake area of Ontario has returned poor results. On the Shabumeni property, two of the four holes assayed carried no signifi…
Vancouver Stock Exchange A bidding war looms large
The Vancouver Stock Exchange appears to have received the spark needed to ignite a widely predicted jump in activity. The combination of the announcement of a road into the Eskay Creek area, a takeove…
CIM conference showcases Abitibi’s major ore deposits
A week-long symposium focusing on mineral exploration in the Abitibi region of Quebec attracted more than 400 delegates to this northern city. Hosts of the bilingual event, titled “Northwestern Quebec…