News in Brief (February 15, 1988)
Greyhawk Resources and another Vancouver-listed junior exploration company, Willcrest Resources, have both rejected an offer from The Quinto Mining Corp. to buy back their 25% interests in the Lumby …
News
Stroud extends strike
Drilling has increased the strike length of the mineralized zone on the Leckie property, held by partners Stroud Resources and Exador Resources. Exador has the right to earn a 30% interest in the proj…
Higher metal prices boost Phelps Dodge, Asarco profits
Higher copper prices in 1987 had a marked impact on the annual earnings of two American producers, Phelps Dodge and Asarco Inc. Phelps Dodge’s primary metals segment, consisting mainly of copper-produ…
Mineta drills sulphides
An 8-hole drill program has traced a sulphide horizon for 5,000 ft, partners Mineta Resources and Hyperion Resources say. Located in Casa Berardi Twp., Que., the property is south of the Golden Pond g…
Glen Auden options three projects
The market crash doesn’t appear to have slowed down the deals being made by Glen Auden Resources. The junior explorer, which identifies project areas and then brings in partners to carry the company f…
Timing dampens enthusiasm for OSC’s new junior financing policy
Cautious enthusiasm is coming from the mining and investment community concerning the new junior natural resource policy drafted by the Ontario Securities Commission (OSC). If anything, the lack of an…
New report and map on deep sea deposits
A report and map providing comprehensive coverage of the nature and distribution of recently formed metallic mineral deposits on the deep seabed have been released by the Geological Survey of Canada. …
Pegasus retreats from Nevada bet
Pegasus Gold, which pioneered many aspects of heap leaching in the United States, has decided not to participate in the Zaca gold property of Cali fornia Gold Mines. The pullout appears to be a major …
Theresa zone yields results for Duration and Locator
Underground sampling at the Theresa gold property has yielded encouraging results, equal partners Duration Mines and Locator Ex plorations say. Located near Long lac, Ont., the Theresa mine’s undergro…
Hemlo Gold lives up to early billing
When the initial public offering of Hemlo Gold Mines was subscribed for last February, the company was expected to be a steady money maker. With 87.3 million shares outstanding, Hemlo had the largest …
ME listing for Jilbey
Recently listed on the Montreal Exchange was Jilbey Industries, a junior exploration company incorporated in British Columbia in 1983 with head office in North Bay, Ont. Jilbey (symbol jlb) is activel…
Investment Comment ERG issue a bargain, analyst says
While ERG Resources is preparing to test its brand-new Timmins, Ont., tailings project, the company’s annual meeting in Montreal was obviously not at the top of anyone’s social calendar. An uneventful…