US$9.3 million budget for Fort Knox
The development of the Fort Knox property, near Fairbanks, Alaska, is scheduled to resume May 1. Fairbanks Gold (VSE), 51% owner of the property and the project operator, plans to spend US$9.3 million…
News
Audrey planning an offer for Asamera Min. assets
Polymetallic miner Audrey Resources (TSE), based in Rouyn- Noranda, Que., is hoping to pick up where Corona left off by making a takeover offer for the Canadian and U.S. mineral assets of Asamera Mine…
Gold production up at Malartic Hygrade
With mill construction at its Congress gold mine under way, Malartic Hygrade Gold Mines (VSE) is looking forward to becoming a much larger gold producer. In 1989, output from a number of Malartic’s Va…
Equity earnings more than double
Increased sales volumes of gold and silver plus lower production costs more than doubled earnings for Vancouver-based Equity Silver Mines (TSE). Net earnings for the year ended Dec. 31 were $20.6 mill…
Grade improving at depth on Astoria gold project
Impressive gold grades are being confirmed by recent underground exploration work on Belmoral Mines (TSE) and Yorbeau Resources’ (TSE) Astoria gold project, three miles south of here. The companies ha…
Noranda hits on Teddy Bear bear
The Lightning gold zone in Harker and Holloway twps., 40 miles east of Matheson Ont., has yielded more good assays in six of 11 deep holes completed recently by partners Noranda (TSE), Freewest Resour…
Five luminaries garner PDAC awards
Jim Gill and Howard Stockford are among the mining executives whose accomplishments are being recognized this year at the Prospectors and Developers Association’s annual convention in Toronto this wee…
Land use, environment among PDAC issues
Delegates at this year’s Prospectors and Developers Association of Canada Convention will be reminded of some of the new realities that confront the mining industry when they gather at Toronto’s Royal…
Interest payments hit Cameco profits
Interest payments on longterm debt resulted in a $33-million drop in earnings reported by uranium producer Cameco in Saskatoon, Sask. The company said its 1989 earnings declined to $23.5 million from …
Hole on Fontana property cuts 45 ft. grading 0.48 oz. gold
A drill hole on the Fontana property in Duverny Twp., about 50 km northwest of Val d’Or, Que., has returned significant gold values in the vicinity of the Hooper- Bunkhouse vein junction. The property…
RSV drills gold, copper zone
Diamond drilling has commenced on a gold/base metals property jointly owned by International RSV Resources (VSE) and Ramardo Holdings (COATS). The property is in Denain Twp., Que., 30 miles southeast …
Franco-Nevada profit up from 1988 levels
Franco-Nevada Mining (TSE) has reported a net profit of $2.2 million or 18 cents per share for the nine months ended Dec. 31, compared with $886,000 or 7 cents per share during the same period last ye…