Samax reports gold find in Congo
Samax Gold (SMX-T) has intersected what it describes as significant gold mineralization at its 85%-owned Mougongo prospect in Congo.Drill hole 4 cut 28.5 metres grading 3.7 grams of the yellow metal (…
News
MINING MARKETS AND INVESTMENT NEWS — Tiomin finances Kenyan study
Toronto-based Tiomin Resources (TIO-T) expects to raise $1 million through a private placement of 2 million shares priced at 50cents each.The company is preparing to begin a feasibility study at its K…
Drilling hits new zone at Itetemia
Ongoing drilling at the Itetemia gold property in the Victoria Lake gold district in Tanzania has confirmed the volcanogenic nature of mineralization.Tan Range Exploration (TNX-A) reports that five co…
Arizona Star options project in Chilean mineral belt
Arizona Star Resource AZS-V) will acquire control of the Cenizas gold project in northern Chile from Fremont Gold (FGLD-O) and Rio Tinto (RTP-N).Situated 175 km southeast of Antofagasta, the 13,259-ha…
Poplar buys into South African diamond projects
Vancouver-based Poplar Resources (PPX-V) has branched into South Africa by acquiring a 45% interest in Savannah Diamondfields, the main assests of which are the Aardvark and Barkly West diamond projec…
Golden Goose sees heap-leach potential at Magino
The past-producing Magino gold mine near Wawa, Ont., has the potential to become an economic heap-leach operation, says Irwin Miller, president of Golden Goose Resources (GGR-T).But Miller’s opinion i…
Drilling adds to Converse’s potential
Encouraging gold values have been intersected in a drill program at the Converse joint venture in Nevada’s Battle Mountain trend.The project is operated by Uranerz USA, which has a 25% interest. Newmo…
Birim’s Dunkwa extended at depth
Drilling by Battle Mountain Gold (BMG-T) at the Dunkwa property in Ghana has extended the Mampon gold deposit at depth.Battle Mountain, the operator, is acquiring a 65% interest in the project from Bi…
Taylor yields more gold for St Andrew
Results from infill and stepout drilling at the Taylor gold property in the Matheson area of northeastern Ontario continue to impress St Andrew Goldfields (SAS-T).Nineteen holes were recently drilled …
Buchans River options ground from Noranda
St. John’s, Nfld.-based Buchans River (BUY-A) has agreed to option the Little Sandy base metal properties in the central region of its home province.The vendor, Noranda Mining & Exploration, a subsidi…
SouthernEra tallies resource
Toronto-based SouthernEra Resources (SUF-T) has attached a resource figure to the partly owned Camafuca diamond pipe in Angola’s Lunda Norte province.Resources are pegged at 88 million cubic metres gr…
Tender postponed for Russian gold mine — Placer Dome, Barrick among companies expressing interest
The proposed tender for the Sukhoi Log gold deposit in northwestern Russia has been postponed until 1999 to allow foreign companies an opportunity to evaluate the project.The regional government of Ir…