Financing plans for Mariquita
Development will soon begin on the Mariquita copper deposit in northwestern Mexico. A Mexican company held 49% by Cominco Resources International (TSE) and 51% by Empresas Frisco will acquire the depo…
News
Reserve increase at Prairie Creek
By incorporating results from last year’s drill program, San Andreas Resources (VSE) has beefed up reserves at its Prairie Creek property. Situated west of Yellowknife, N.W.T., the deposit is now esti…
`Unsuitability’ clause could trigger litigation —
Concern over proposed changes to the U.S. Mining Law lent a tone of apprehensiveness to a major mining conference held recently in this southwestern American city. More than 3,700 delegates attended t…
Metall withdraws Int’l Musto bid
In what appears to be the final play in its bid for a stake in the Bajo de la Alumbrera project, Metall Mining (TSE) has withdrawn its bid for all the shares of International Musto Explorations (TSE)….
Correction (February 28, 1994)
Funds raised by Altai Resources (TSE) through a 100,000-share private placement at $3 per share (T.N.M., Jan. 31/94) will be used for seismic survey work on gas permits in Quebec. Altai has interests …
NEWS ROUNDUP — Francisco adds to treasury
Armed with more than $8 million from a private placement, Francisco Gold (VSE) is stepping up exploration in Mexico and Venezuela. The placement includes 2.5 million special warrants at $3.33 each. Th…
NEWS ROUNDUP — $10 million for Manhattan
A $10-million private placement will enable Manhattan Minerals (VSE) to explore and develop three properties in Mexico. Most of the proceeds ($6 million) will be spent on the Moris gold project in the…
Westmin to process Snip concentrates
The Premier Gold mill is being modified to process 8,000 tonnes of concentrates from the Snip gold mine in northwestern British Columbia. Westmin Resources (TSE) will process a year’s production from …
Nebex hits gold in Shear 20 zone
A hole drilled by Nebex Resources (ASE) to test a deep, induced-polarization anomaly has intersected what appears to be a new gold zone near Yellowknife, N.W.T. Averaging 0.32 oz. gold per ton over 16…
Altai acquires more Peruvian prospects
Toronto-listed Altai Resources has acquired two new copper projects in Peru. The Achanizo deposit, in Caraveli province, contains seven known veins which range from 300 to 1,200 ft. in length and aver…
Republic Goldfields finds two new zones
Vancouver-listed Republic Goldfields has identified two potential open-pit zones at the Congress gold project in Arizona. Reverse circulation drilling has partially defined the Golden Wave and Bellick…
EDITORIAL PAGE — Diamond standard needed
The Australians did it. American regulators followed suit. And Canadians should do it, too . . . . . . Introduce diamond reporting standards, that is. In the early 1990s, a group of Australian diamond…