Conwest becomes Granduc shareholder
Toronto-based Conwest Exploration (TSE) has gained an 18.1% direct interest in Granduc Mining (TSE) by buying 2 million shares of the junior gold producer. A further 815,330 shares were bought by Conw…
News
COMMENTARY — Nuclear industry expectations
Since 1990, the demand for new nuclear capacity in Canada has diminished as a result of the economic recession, and heightened energy conservation by industry and consumers. Major utilities such as On…
PEOPLE — OLYMPIC RESOURCES
Theodore Konyl appointed director.
Hendricks merging with Everdeen
Inactive Everdeen Resources has agreed to amalgamate with privately owned Hendricks Minerals of Canada. Before the amalgamation can take place, Hendricks must first obtain ownership of the issued and …
Assessment work allocation changes proposed
If proposed changes to Ontario’s Mining Act become law, claim-stakers with small blocks of ground will gain an advantage and those who stake large blocks will lose one. Exploration expenses on a block…
$5.5 million alloted for Golden Bear
About $5.5 million will be spent on a 3-phase program to explore the Golden Bear property in northwestern British Columbia. The property is owned by North American Metals (VSE) which, in turn, is 81% …
LATIN AMERICA ROUNDUP — Joutel starts Cuban exploration
The ink has just dried on three contracts which will enable Joutel Resources (TSE) to start preliminary exploration on its Cuban properties. The company plans to complete two airborne geophysical surv…
Metallica completes acquisition, financing
Having completed a 1-for-7 share consolidation and a name change, Metallica Resources (CDN) — formerly Burgess Point Resources — has acquired Venezuelan Mineral Development Corp. (Vencorp). Vencorp …
X-Cal exploring near Sleeper
A gold prospect next to the producing Sleeper gold mine in Nevada is providing a new exploration focus for X-Cal Resources (TSE). Sampling on the X-Cal-York Mines property has returned an 11-ft. width…
Goldbrook focuses on Big Mac zone
To cover fully an area of intense hydrothermal alteration, Goldbrook Explorations (ASE) has acquired an additional 12 units adjoining its Onaman River base metal property. The property, north of Beard…
ODDS’N’SODS — Prospecting, 1990s style (2)
The author concludes his story of his prospecting trip to northern Ontario last spring. Dusk was falling rapidly and it was starting to rain. I hastily carried my bags about 35 yards from the tracks i…
Rayrock increases minable reserves
Drilling at three Nevada gold mines has almost doubled minable reserves for Rayrock Yellowknife Resources (TSE). The estimate has increased to more than 1 million oz. from 593,000 oz. at year-end 1992…