Macassa Mine

New Macassa discovery shapes up

Follow-up underground drilling has extended the newly discovered D zone at the Macassa mine, west of Kirkland Lake, Ont.Kirkland Lake Gold (kgi-t) sunk six stepout holes on 15-to-30-metre centres from…


Kirkland suspends Macassa (March 10, 2003)

The failure of a pillar between an ore pass and shaft 3 has forced Kirkland Lake Gold (KGI-V) to suspend production at the Macassa mine, west of Kirkland Lake, Ont.A seismic event caused damage to a 6…


Alcoa

A new estimate indicates that the past-producing Macassa mine has a proven and probable reserve of 726,000 tonnes grading 15.4 grams gold per tonne, or 356,300 oz. gold.Kirkland Lake Gold (KGI-V) repo…


Kirkland Lake raises cash

Kirkland Lake Gold (KGI-V) (formerly Foxpoint Resources) has raised more than $4.7 million via a private placement of some 2.6 million common shares at $1.80 apiece.That’s $765,000 more than initially…


Foxpoint fires up Macassa

Foxpoint Resources (FPR-V) has resumed gold production at the Macassa mill in Kirkland Lake, Ont.On a daily basis, the mill is running through 1,100 tons of tailings from the Lakeshore property. The t…


CDNX posts gains in active week

Vancouver — Canada’s junior exchange entered the Christmas season on a bullish note, posting gains on all indices during the week ended Dec. 4. The Canadian Venture Exchange composite index added 15….



Resource grows at Timmins project

The Hoyle Township project owned by Black Hawk Mining (BHK-T) east of Timmins, Ont., has a substantial gold resource and could be economic at improved gold prices, according to a recent report.The stu…


Kinross throws in towel at Macassa

The Macassa mine in Kirkland Lake, long Canada’s deepest mine and still the country’s deepest gold mine, has closed its doors at the ripe age of 66.The mine’s operator, Kinross Gold (K-T), will contin…


Kinross takes huge writedown

Kinross Gold (K-T) will take a writedown of US$216 million against its fourth-quarter results.The writedown consists of US$104.6 million from the company’s merger with Amax Gold, US$46.9 million on th…


Post-merger Kinross launches mine review

The recently completed merger with Amax Gold has provided a dramatic boost in revenue for Kinross Gold (K-T), as well as a larger stable of mines to manage. With gold prices at near-record lows, the T…


New mines open in 1997

The year past won’t be remembered as much for its mine openings as for its scandals, but several notable (and legitimate) projects did come fruition both in Canada and abroad during 1997.The Musselwhi…