Goldbar, New Island uncover gold zone
A gold zone has been discovered by partners Newfoundland Goldbar Resources (CDN) and New Island Minerals (ASE) on their 14,300-acre Glover Island property in central Newfoundland. The zone, called the…
News
Fancamp acquires gold property
Vancouver junior Fancamp Resources (VSE) has acquired 10 claims near the recent gold discovery made by PGE Resources (ASE) in the St. Croix sedimentary-volcanic terrane, 50 km north of Saint John, N.B…
New Adrian find in Panama
Assay results are expected shortly from a stepout hole drilled by Adrian Resources (VSE) on the Petaquilla property in Panama. A $2-million program, funded by Adrian, is earning a 32% interest from Mi…
Homestake projects 1996 startup for Eskay Creek
By July of this year, the Canadian unit of Homestake Mining (NYSE) expects to submit an application to government for permission to build a mine at the Eskay Creek project, north of Stewart, B.C. “We …
Flag Res. drills at Wanapitei
A deep hole to test the centre of the western magnetic peak of the Wanapitei anomaly near Sudbury, Ont., is under way, reports Flag Resources (ASE). Flag has a 100% interest in 26,000 acres covering t…
BMR, Rea join forces
The recent joint-venture agreement between BMR Gold (TSE) and Rea Gold (TSE) will lead to a 2-phase development and operation program at BMR’s Comstock gold project near Carson City, Nev. Rea Gold wil…
Royalty of 12.5% proposed by new U.S. administration
The Clinton administration in the U.S. is proposing a 12.5% royalty on hardrock minerals mined on public lands. President Bill Clinton’s economic plan to revive the American economy would also see a t…
Royal Oak proposes acquisition of Colomac
In a deal that works out to be roughly 5 cents on the dollar, Royal Oak Mines (TSE) is proposing to acquire the Colomac gold mine and related assets 130 miles north of Yellowknife, N.W.T. The acquisit…
Exploration funds move southward
Gold companies in the U.S. are moving large portions of their exploration budgets to Latin America, where government leaders are actively revising mining laws to attract foreign investment, according …
EDITORIAL PAGE — The restrictions grow
Some rules are required to make life bearable for all but it almost goes without saying that if you make the regulations too restrictive, the activity — business, sporting or whatever — is bound to …
McKnight leads Asian trade delegation
A Canadian business delegation led by Energy, Mines and Resources (EMR) Minister William McKnight is currently visiting Thailand, Korea and Japan. “These countries are important trading partners for C…
LETTERS TO THE EDITOR — Comparison not justified
In a recent article (T.N.M., Feb. 15/93) concerning the initial results obtained from the Outlet Bay diatreme, a comparison was made between the discovery of a microdiamond from this location and the …