Surf Inlet to explore old Surf mine workings
Vancouver-based Surf Inlet Mines recently completed a private placement with Beltech Corp. of Australia to raise $1 million to finance the first phase of a major underground program at the Surf Inlet …
News
Gunsteel program enhances potential at Nugget mine
Exploration work at Gunsteel Resources’ Nugget property continues to enhance its production potential. Because the geology and mineralogy of the various gold-bearing structures are quite complex, the …
Montreal Exchange Market woes persist
(Editor’s note: Please note this week’s me stocks table runs only to the Monday, Oct 26, close.) Last week’s massive market “correction” continued on this week on the Montreal Exchange, with the gener…
Atlantic Report Newfoundland’s first gold rush
Every available diamond drill in Newfoundland is under contract as Canada’s youngest province continues to enjoy its first gold rush. Major mineral exploration and development projects are going on in…
Sherritt, Agassiz end negotiations over SherrGold
Negotiations between Sherritt Gordon Mines and Agassiz Resources involving acquisition by Agassiz of the former’s shareholding (60.5% interest) in SherrGold Inc., together with certain other mining in…
Flood of share buybacks issued by mining companies
The collapse of the stock markets, which has erased billions of dollars of value and decimated investor confidence, is also being seen as a buying opportunity — by none other than the companies thems…
May is target date for construction start at Northumberland mine
Construction of its Murray/ Brook gold and silver mine in New Brunswick could begin as early as May of next year, says the president of Northumberland Mines. Dr William Young says, thanks in part to f…
Deka nears production for Minnova, Syngold
A production decision is still some time away for the Deka (Donalda mine) prospect in northwestern Quebec, but Syngold Exploration President Barry Simmons is confident the project will be developed. A…
Six-month recovery 7,300 oz for Canroes
Gold recovery during the second and third quarters will be 7,300 oz with an estimated production cost, including processing, of $227(US) per oz, Canreos Minerals reports. The company says it mined 65,…
Energex finishes Toodoggone work
The $2.3-million exploration program on Energex Minerals’ Toodoggone area property in northern B.C. has been completed. A month ago the company raised another $300,000 (flow- through) to extend the pr…
Investment Comment Gordex is worth a look
While investors scurry to find a shelter from the recent stock market debacle, gold could still provide a refuge from the recession which analysts say could be just around the corner. Current thinking…
Reed possible chromite mine Gateford and Macamic say
Partners Gateford Resources and Macamic Resources expect to have a drill program completed by March, 1988, on their Reed-Belanger chromite property in the Eastern Townships, Que. Macamic must spend $7…