Gibraltar earnings at 10-year high
Gibraltar Mines (TSE) reported its highest earnings since 1979 for the year ended Dec. 31. Net earnings for the year were $24.3 million on revenues of $104.7 million, compared with earnings of $8.3 mi…
News
Manitoba suffers slowdown in drilling activity, spending
Since the mid-1980s, Manitoba’s mineral exploration industry has been showing strong growth in activity and spending. As a consequence of increased exploration since 1986, four new mines were put into…
Stillwater plans Montana smelter
Construction of a smelter to treat palladium and platinum concentrates is planned by Stillwater Mining for western Montana near its mining operation. Estimated cost of the facility is US$6.6 million. …
American Consolidated hits mineralization
A mineralized vein continuing through three drill holes has been encountered on American Consolidated Mining’s gold-silver-copper prospect in Clifton Cty., Utah. Channel samples cut across the vein st…
Trevco bulk sample
Calgary-based Trevco Oil & Gas (ASE) has commissioned Minroc Management of Toronto, and J.S. Redpath Mining Consultants of North Bay, Ont., to provide an estimate of total costs to remove, ship and pr…
Marine geology lab opens at U of T
The University of Toronto officially opened its Scotiabank Marine Geology Research Laboratory on March 1. Laboratory director Steven Scott said work in the lab, located at the university’s new Earth S…
COATS (over-the-counter) Sindor raises cash
Raising $1.1 million in a public offering of 2.2 million units was Sindor Resources. The company also completed a private placement of $500,000, and traded over one million shares between 47 cents and…
Research unit to be formed
The Mineral Deposit Research Unit, a joint initiative between the University of British Columbia (UBC) and the mining industry, is looking for qualified people to staff a research project oriented tow…
Huge porphyry gold-copper deposit Industry watching developments
Having drilled some 450 holes totalling in excess of 340,000 ft., no doubt remains that Continental Gold (VSE) has outlined a huge porphyry gold-copper deposit on the Mt. Milligan property over 100 mi…
Bonanza Metals buys new project
In an agreement with Charlim Exploration (VSE), Bonanza Metals (ASE) will acquire a 70% interest in a property bordering the Poirer/Joutel mining concession in Quebec. Bonanza paid $50,000 cash and wi…
Modest results on Douay gold bet
Low gold assays have been reported by Societe d’Exploration Miniere Vior (ME) from four final drill holes on the Douay joint venture in northwestern Quebec. The project is 42% owned by operator Inco (…
Volatility of gold price followed with keen interest
The market collapse of October, 1987, followed by a falling price of gold in 1988 and a depressed price for the precious metal for a good part of 1989, had a devastating effect on junior mining compan…