Avalon drills Dubenski project
A first phase of drilling by Avalon Ventures (AVL-V) is testing the resource potential of the Dubenksi gold project, 70 km southeast of Kenora, Ont.The property already contains a resource of 253,000 …
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Miramar puts Talapoosa gold project on hold
Citing low gold prices and inconsistent recoveries, Miramar Mining (MAE-T) has taken a $33.6-million writedown on the Talapoosa gold-silver project in western Nevada, suspending its development.”At cu…
St Andrew funds Matheson drilling program
Through a private placement, St Andrew Goldfields (SAS-T) is raising funds to continue diamond drilling in the Matheson area of northwestern Ontario.The junior raised $3.4 million by issuing 4 million…
LITERATURE REVIEW — Hecla Mining boosts its silver production
During 1996, Hecla Mining (HL-N) produced 3 million oz. silver from its various operations, representing a 35% increase over the 2.2 million oz.produced in the previous year.Of last year’s total, abou…
LITERATURE REVIEW — Noranda earnings slip over 1996
Diversified resource company Noranda (NOR-T) says weak commodity prices caused its net earnings to drop by almost 50% in 1996, despite a 16% increase in cash flow to a record $1.5 billion.The company …
Santa Fe finds more gold at Duquesne W.
Drilling by Santa Fe Canadian Mining has identified a new gold zone on the Duquesne West property of Globex Mining (GMX-T), 30 km northwest of Rouyn-Noranda, Que.Santa Fe, a wholly owned subsidiary of…
Omni hits gold at Goddell Shear
Underground drilling at the Goddell Shear project in the Mount Skukum area of southern Yukon is returning some noteworthy intercepts.Omni Resources (ORI-V) reported results from four holes, which were…
THE DIAMOND PAGE — Diadem tests California samples
Three white diamond fragments and a broken dodecahedron (12-sided diamond) were recovered from samples taken from drill core testing the Leek Springs diamond project in California. Operator Diadem Res…
LITERATURE REVIEW — Santa Fe’s Nevada mines come of age
Having set a gold production record at its Nevada and California operations in 1996, Santa Fe Pacific Gold (GLD-N) says it is on track to join the 1-million-oz. club this year, climbing to a projected…
Rift Res. eyes properties in Niger
EXP Resources, a privately held company in Alberta, can acquire a 60% interest in a 1,900-sq.-km gold-copper concession in southwestern Niger.EXP secured the option by paying US$50,000, issuing 1.2 mi…
Earnings rise for Teck and Cominco
The sale of its 10.8% stake in Diamond Fields Resources saw the 1996 net earnings of Teck (TEK-T) jump by almost 184% over the previous year.The Vancouver-based major reported net earnings of $255 mil…
Stillwater boosts its reserves and production
Montana-based Stillwater Mining (PGMS-N) reported a modest loss in 1996 but saw increases in production, head grade and reserves.The only producer of platinum and palladium in the U.S. lost US$2.8 mil…