Eastfield options ground to Prism
A joint-venture agreement with Eastfield Resources (VSE) gives Prism Resources (VSE) the right to earn a 50% interest in a group of properties in the Tonopah gold mining district of west-central Nevad…
News
Rea Gold boosts reserves at Bissett
Vancouver-based Rea Gold (TSE) has seen geological gold reserves increase at its Bissett mine, about 160 miles northeast of Winnipeg, Man.Geological reserves at the former producer are now estimated a…
Normabec explores for base metals
In the Matagami region of northern Quebec, Normabec Mining Resources (ME) is exploring for nickel-copper sulphides and precious metals.Normabec entered an agreement with Soquem to acquire an interest …
Homestake targets Aussie subsidiary
In a stock swap valued at about US$162 million, Homestake Mining (NYSE) plans to assume sole ownership of its Australian subsidiary.The company will exchange 9.8 million shares of its common stock for…
Cambior withdraws from Douay project
An option on the Douay gold deposit near Joutel, Que., has been dropped by Cambior (TSE). The agreement had required Cambior to finance development of the deposit to earn a 50% interest from Vior Mini…
Argentine government agency woos Canadian mining companies
Mining companies may be familiar with the competitive nature of business, yet many governments are not. However, this would appear to be changing, as an increasing number of countries are now competin…
Etruscan finances Nigerien project
Two private investors have purchased $1.5 million, and Echo Bay Mines (TSE) has purchased $2.7 million in common shares and warrants, in Etruscan Enterprises (VSE).The placement enables Etruscan to co…
Union situation uncertain at Faro
Employees at the Faro mine in the Yukon are currently not members of a union, although the United Steel Workers of America has petitioned the Canada Labour Relation Board to review its jurisdiction ov…
FirstMiss delayed at Turquoise Ridge
The necessity of interpreting new exploration data for the Turquoise Ridge deposit in northern Nevada will delay completion of a prefeasibility study.FirstMiss Gold (NASDAQ) reports that new data on 1…
Stock Markets — Voisey Bay trading enters wait-and-see phase
Trading activity on the western markets has succumbed to the summer doldrums. The markets’ enthusiasm for the Voisey Bay nickel-copper-cobalt play in Labrador has dampened, with investors assuming a w…
Windy Craggy settlement prompts Kemess development
The British Columbia government and Geddes Resources (TSE) have resurrected a compensation agreement for the 1993 expropriation of the Windy Craggy copper deposit in the northwestern corner of the pro…
Minefinders announces start of drill program at Bolsa property
The new president of Minefinders (VSE) expects drilling will begin this September on La Bolsa, a gold property in Mexico’s Sonora state.Mark Bailey, who is also a geologist, heads up a new management …