Casino drilling to escalate
With four rigs already turning at the Casino property in the southern Yukon, Pacific Sentinel Gold (VSE) is planning to mobilize at least one more to the property in June. The drilling is part of a $7…
News
Ashton boosts Canadian diamond spending
Australian diamond producer Ashton Mining plans to spend at least $1.3 million, or about 20% of its diamond exploration budget, to evaluate targets in Canada this year, says Chief Executive John Robin…
Cornucopia reviews Tonkin Springs
With Homestake Mining (NYSE) out of the picture, U.S. Gold (NASDAQ) has signed an agreement giving Cornucopia Resources (TSE) an option to acquire a 55% interest in the Tonkin Springs mine and mill in…
Cyprus, Amax spawn mega mining company
The merger of two of the largest mining companies in the U.S. is expected to create one of the largest in the world. Amax (NYSE) and Cyprus Minerals (NYSE) are proposing to merge into a new entity, Cy…
Greenstone Res. seeks financing
Now that Greenstone Resources has secured total ownership of Panamanian-based Minas Santa Rosa S.A., the next step is to rustle up financing for the gold project. Greenstone picked up the remaining 51…
NEWS ROUNDUP — Royal Oak output below budget
At 65,628 oz., the amount of gold produced by Royal Oak Mines (TSE) in the first quarter was less than expected. The reason: ore dilution problems at the Hope Brook mine on the southwest coast of Newf…
PEOPLE — RADCLIFFE RESOURCES (May 31, 1993)
Richard Pearson assumes presidency; Donald Lyons appointed director.
Canada Talc oldest producer in Ontario
If one were asked to name the oldest continuously producing mine in Ontario, the prolific gold mines of Timmins and Kirkland Lake may spring to mind. Few would guess that the province’s oldest mine is…
Flag to deepen Wanapitei holes
Having intersected a wide magnetite zone in two holes collared two miles apart on its Wanapitei holdings in Mackelcan Twp., Ont., Flag Resources (ASE) plans to use a larger drill to deepen the holes. …
Hemlo’s Freewest stake jumps to 27%
Toronto-based Hemlo Gold Mines (TSE) will increase to 27% its interest in Freewest Resources (TSE) by acquiring one million shares of the junior under a financing agreement signed in 1989. The common …
Golden Star locks up golden deal
A deal to acquire two properties in French Guiana has been signed by Golden Star Resources (TSE). The first property, known as St. Elie, covers 39 sq. miles (100 sq. km) and was formerly the largest p…
METALS MARKETS — Gold up on renewed investor interest
The sharp turnaround in the gold price in April and its continued strong upswing should herald renewed financial strength for this sector of the mining industry. Spurred by investors jumping into the …