Interest in Midway zinc increased by Regional
Regional Resources (TSE) plans to accept an offer from Canamax Resources (TSE) to buy that company’s 24.5% interest in the Midway zinc-silver project in northern British Columbia. Canamax wants $1.1 m…
News
Commodity price rise focus of IMF study
Rising prices of non-fuel primary commodities that began in 1987 continued in 1988 and through early 1989, the International Monetary Fund (IMF) reports in its 1989 edition of Primary Commodities: Mar…
Newfoundland exploration bolstered by majors
Although it’s not as hectic as last summer, Newfoundland’s mineral exploration industry is enjoying another healthy season thanks largely to major mining companies who have firmly established their pr…
McNickel completes $3.4M financing, starts drilling
With a successful $3.45-million public financing behind it, Toronto- based McNickel Inc. (COATS) has started a 20,000-ft drilling program on its Lac St. Jean nickel-copper prospect north of Dolbeau, Q…
Editorial Coal and alfalfa
Land reclamation is always a sensitive topic for miners and environmentalists alike. In the past, the former saw little value in spending money to reclaim mined lands whereas the latter have tradition…
Bank of Nova Scotia index declines for fifth month
Falling precious and base metal prices contributed to a further decline in Scotiabank’s all-commodity price index in June. The index dropped 2.9% from May, the fifth consecutive monthly decline. Bank …
Canadian Giant to explore Terrex’s Newfoundland bet
Exploration is expected to get under way soon at a group of Newfoundland claims acquired recently by Terrex Resources (ASE) from Nippers Harbour Minerals Ltd. Situated about 10 km south of the Bitech …
Low gold prices forcing closure of MacLellan mine
After much success in reducing costs, improving efficiencies and increasing gold production, LynnGold Resources (TSE) fell victim to plummeting gold prices. After sustaining continued losses at its Ma…
Fairbanks drilling hits 1,130 ft of 0.043 oz gold
Recent drilling by Fairbanks Gold (VSE) at the Fort Knox property near Fairbanks, Alaska, has encountered broadly disseminated free gold extending from surface to a depth of more than 1,000 ft. Becaus…
Lenora to earn in at Eagle Lake bet
Having agreed to earn a 60% stake in Eagle Lake Explorations’ (ASE) Yukon base metal property, Greater Lenora Resources (ME) is to start a 3,000-ft drill program within two weeks. Under a recent agree…
Metal Prices PRODUCER PRICES (August 07, 1989)
ALUMINUM: MW U.S. Market US80.25 cents – 82.25 cents per lb. (July 27, 1989). ANTIMONY: New York dealer 95 cents -$1.00(US) per lb. (July 20, 1989). BISMUTH: New York dealer $5.50-$5.65(US) per lb. (J…
Wharf set for record output
After a $9-million capacity expansion last year, Wharf Resources’ (TSE) Annie Creek heap leach mine, a few miles south of this mining town, is on target to set a production record. Wharf is aiming at …