New $1.2 M program for Vault claims
A 1989 work program budgeted at $1.2 million has started on the Vault property near Okanagan Falls, B.C. Inco Gold Ltd. (TSE) owns 60% and is operator, while Seven Mile High Resources (VSE) holds a 40…
News
Hecla, Agnico give joint venture a boost
The Lucky Eagle joint-venture exploration undertaking being formed by Agnico-Eagle Mines (TSE) and Hecla Mining Co. of Coeur d’Alene, Idaho, will start out with at least 20 properties in identified bu…
PRODUCER PRICES Metal Prices (February 13, 1989)
ALUMINUM: MW U.S. Market $1.02-$1.05 per lb. (Feb 2, 1989). ANTIMONY: New York dealer $1.00 cents -$1.03 per lb. (Jan 19, 1989). BISMUTH: New York dealer $6.75-$6.85 per lb (Jan 26, 1989). CADMIUM: Ne…
Copper prices take a tumble
Labor problems and a mine explosion in South America, rising inventories in London Metal Exchange (LME) and New York Commodity Exchange (Comex) warehouses and backwardation on both exchanges seem to h…
Metall bids for copper producer
Toronto-based Metall Mining (TSE) has finally done what it has promised to do for the past couple of years. By agreeing in principle to pay $85 million(US) for all the outstanding shares of Michigan-b…
Aussie platinum prospect
A platinum mine in Australia — the nation’s first — is a possibility this year. Reynolds Metals is undertaking a drilling program on the Yarawindah Brook property north of Perth and is hopeful of co…
Biron Bay deal
Biron Bay Resources (ASE) has entered into an agreement with NovaGold Resources (TSE) which will give the company the right to acquire an interest in NovaGold’s Summit gold property in New Mexico. The…
What old gold mines threw out may now be economic
Gold is found in a variety of geological settings. One of the primary sources for the precious metal growing in popularity these days is old tailings ponds. Energy, Mines and Resources Canada estimate…
Roddy options Gold Bar
Roddy Resources (TSE), an Arizona gold producer managed by Belmoral Mines (TSE) which has a substantial interest in Roddy, has optioned a new property known as the Gold Bar in the Wickenburg area of A…
Moss Lake drilling highlights West zone
Results from three of eight holes drilled on the Moss Lake project in northwestern Ontario are “proving up an area where there were no values before,” says Storimin Exploration (ASE) President, A. E. …
Bissett mine sale revised
By mutual agreement, Cassiar Mining Corp. (TSE) and Rea Gold Corp. (TSE) have agreed to revise the terms of a letter of intent that will result in the sale of the Bissett gold mine and mill located at…
Montreal Exchange Market races on
The market continued to gather strength this past week, although the resources sector seemed to lose some of its steam in a mixed-trading performance; the mining and minerals index closed up 13.5 pts….