Monte Carlo Gold Mines — a new beginning
In late 1988, Robert Salna and several associates purchased the controlling interest in Monte Carlo Gold Mines Ltd. Since that time, changes in the management team of Monte Carlo have facilitated a ne…
News
LynnGold’s MacLellan mine struggling along
Struggling against falling bullion prices, LynnGold Resources’ (TSE) MacLellan mine near Lynn Lake, Man., produced 13,460 oz of gold at a cost of $443 per oz during the first quarter of this year. Tho…
Oneida hits
Drilling by Oneida Resources (VSE) on the company’s Mexican Hat gold property has returned an exceptional hole of 285 ft grading 0.203 oz gold per ton. The assay cut to one oz was 0.096 oz gold per to…
Editorial Rock mechanics research should be put to use
Governments in Canada have the power to give mining companies the right to develop the country’s mineral resources. They also have the responsibility of making sure companies use the best available te…
Judge’s retirement could trigger new Hemlo hearing
The retirement of a Supreme Court of Canada judge could result in another appeal hearing in the ownership dispute over the Page- Williams gold mine in the Hemlo area of northern Ontario. Justice Willi…
Market slump continues
Ongoing concern about the direction of the economy and gold’s dismal performance managed to keep investors on the sidelines for yet another week. The prolonged market slump has taken its toll on even …
Serem, VSM Exploration boost Grevet M tonnage
Possible and probable reserves at the Grevet M property in northwestern Quebec, northeast of Quevillon, stand at 2.1 million tonnes grading 8.72% zinc, project partners Serem-Quebec and VSM Exploratio…
Placer Dome pays $18 million for 60% interest in Paymaster project
American Reserve sells 60% of Timmins project Vancouver-based American Reserve Mining Corp. (VSE) has sold a 60% interest in its Paymaster gold property at Timmins, Ont., to Placer Dome Inc. (TSE) for…
Ego to drill NWT zinc-silver bet
Exploration is scheduled to begin in June on a zinc-lead-silver property in the Northwest Territories recently optioned by Ego Resources (TSE). Ego has an option to earn a 100% interest in Initiative …
Higher grades needed on Gamsan’s Brabant Lake bet
A recent study of Gamsan Resources’ (ASE) Brabant Lake polymetallic deposit in northern Saskatchewan concluded that current reserves are inadequate to justify development of a mine. The study was done…
Win-Eldrich makes production plans for Ashdown bet
Fill-in drilling, surface trenching, column-leach tests and a heap leach feasibility study have been completed by Win-Eldrich Mines (TSE) at its Ashdown property in Humboldt Cty., Nev. The company say…
Alberta Stock Exchange Guinness plummets
As a result of confusion regarding the future direction of interest rates, volumes were generally low on the Alberta Exchange this week. However, the lack of trading activity didn’t preclude a sudden …