Nuinsco encouraged by drill results
Diamond drilling by Nuinsco Resources (TSE) in Ontario’s Rainy River district has revealed intervals of high-grade gold.Of 22 holes drilled on the Richardson Twp. property, 17 have been analyzed, with…
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Former Ugandan cobalt producer attracts attention of Banff Resources
Preparations are under way to resuscitate the Kilembe copper-cobalt mine in Uganda.Banff Resources (VSE) can earn a 65% interest in the former producer from the Ugandan government by completing a feas…
Rea projects highlighted by Mt. Hamilton, Bissett
The initial phase of a US$1-million exploration program is under way at the Mt. Hamilton gold mine on Nevada’s Battle Mountain trend.The work, which involves 35,000 ft. of infill drilling in and aroun…
Westward and Cameco differ on startup date
A disagreement is reported between Cameco (TSE) and Westward Explorations (VSE) concerning the date when commercial production began at the Contact lake gold mine in northern Saskatchewan.Based on pro…
Echo Bay, TVI acquire property in Philippines
The KingKing porphyry copper-gold property in the Philippines will soon be in the hands of Echo Bay Mines (TSE) and TVI Pacific (ASE).The former will be the operator, with a 75% interest, while the la…
Teddy Bear funds Holloway share
Teddy Bear Valley Mines (CDN) is raising the necessary funds to cover its portion of construction costs at the Holloway gold joint venture in northeastern Ontario.The company will raise $2 million thr…
Hemlo options Acabit property
Exploration Acabit’s (ME) gold property in Quebec’s Private Twp. has been optioned to Hemlo Gold Mines (TSE).The latter can acquire the former’s 42 mining claims in the area, subject to a 2% net smelt…
“Pride and vision” theme of CIM Centennial
“Pride in the past and vision for the future” will be the theme used in 1998 to mark the 100th anniversary of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM).Anne McLellan, Canada’s m…
Insider Trading — Cameco insiders exercise options, sell shares
Four Cameco (TSE) insiders exercised options and sold shares in April.According to the Ontario Securities Commission’s OSC Bulletin, Gary Chad, senior officer, exercised options and acquired 3,000 sha…
Homestake eyes gold in Eastern Europe
Mining giant Homestake Mining (NYSE) has reached an agreement whereby it can acquire a sizable chunk of the Chelopech gold-copper mine 75 km east of Sofia, Bulgaria.The company will buy 6 million newl…
Strike halts production at Golden Giant
A strike has halted production at the Golden Giant mine of Hemlo Gold Mines (TSE).The 223 members of United Steelworkers of America Local 9364 went on strike June 17, citing a dispute with management …
Eldorado expanding Colorada mine
By expanding facilities at the Colorada mine in Mexico’s Sonora state, Eldorado (TSE) expects to reduce processing costs by up to 30% and improve gold output by up to 15%.A new Merrill-Crowe circuit, …