Nordac planning a share consolidation
Shareholder approval will be sought by Nordac Mining for the company’s plan to consolidate its common shares on a one new share for each 2.5 shares held basis. Nordac, which will have its name changed…
News
Shannon drilling near Matagami
A second-phase 16,500-ft drilling program has been started by Shannon Energy on the company’s property near Matagami, Que. The program is testing a geophysical anomaly thought to represent a conductin…
Mimiska uncovers 3 gold veins
Three veins uncovered by Mimiska Exploration on its Fern Elizabeth property in Atikokan, Ont., have given the Quebec-based company something to smile about. One of the veins, named the Elizabeth, is a…
Core Energy drops La Ronge option
Vancouver-listed Core Energy Corp. intends to drop its option on the 15,460-acre Conjuring River property, in the La Ronge area of northern Saskatchewan. The decision follows a 3-hole drilling program…
Production called for at Cheni’s Lawyers bet
The preliminary prospectus of Cheni Gold Mines outlines in considerable detail its plans for the Lawyers property north of Smithers, B.C. (N.M., April 13/87). A report by Wright Engineers recommends t…
Storimin pulls fine drill hole at Moss Twp.
A big width of ore grade material has been intersected in a rather exciting diamond drill hole put down by Storimin Exploration at its Moss Twp. gold property 70 miles west of Thunder Bay in northwest…
Letter to the Editor Asbestos ban criticized
The Asbestos Institute has demonstrated clearly beyond any reasonable doubt that the data and reasons supporting the Environmental Protection Agency’s (EPA) proposed ban on asbestos in the U.S., is ou…
News in Brief (May 04, 1987)
Greenstone Resources has acquired a gold property in Costa Rica with both open pit and underground reserves. The company is purchasing a 100% working interest in the El Recio project for $165,000(US) …
Rio Algom is plagued with its potash problems
Potash problems have caught up with Rio Algom Ltd. and have taken a 33% bite from the company’s bottom line in this first quarter. And it is enough of a bite that Chairman and ceo George Albino warned…
Vista flow through to raise $5.5 m
Private placements totalling $5.5 million have been arranged by Vista Mines. The money will be issued in 1987 and 1988 in exchange for Vista flow-through shares which will be taken up by two flow- thr…
Achates completes sampling program
Recently completing a reconnaissance basal till sampling program in the central part of its 4,940-acre Vanier-Disson property, located 60 km southeast of the Casa Berardi area, was Achates Resources o…
McIntyre loss after coal disposal
McIntyre Mines reports a 1986 net loss, after extraordinary items, of $34,323,000, or $9.42 per share, compared with a loss in the previous year of $26,255,000, or $7.23 per share. The extraordinary i…