Diamond play recovers from core contamination
The credibility of the Lac de Gras diamond play suffered a serious blow recently when the Aber-Commonwealth-SouthernEra joint venture mistook synthetic drill bit diamonds for natural stones derived fr…
News
NEWS ROUNDUP — Cross Lake in option deals
An option to earn up to a 70% interest in 18 claims in Fox and Stimson twps. 45 miles northeast of the Kidd Creek operation near Timmins, Ont., has been negotiated by Noranda Exploration with Cross La…
Bank backs Teck’s Balmer bid
An offer by Luscar to buy the Balmer and Greenhills coal mines in southeastern British Columbia was blocked by a creditor of the mines’ former owner, bankrupt Westar Mining. The Bank of Montreal oppos…
Ontario conducts environmental tests
Prompted by concerns about environmental impact of previous disposal practices, Ontario’s Ministry of Northern Development and Mines has commissioned a geotechnical assessment of soil and groundwater …
NEWS ROUNDUP — NCG acquires control of Nova-Cogesco
Following a successful takeover bid, NCG Acquisition, a unit of Hughes Lang (VSE) and its 53% owned subsidiary Orofino Resources (TSE), has acquired about 51% of the outstanding shares of Nova-Cogesco…
EXPLORATION ’92 — Maria mine records strong performance
The Maria copper mine in Mexico, 49% owned by Cominco Resources International (TSE), achieved during the third quarter, the highest level of operating profit since startup in 1990, the company reporte…
EDITORIAL PAGE — Blue-collar whiz kids
Global competition is making it more evident that corporate Canada has under-invested in its workforce, that Ottawa has poured millions of dollars into poorly focused training programs and that the pu…
EXPLORATION ’92 — Lac boosts gold output, lowers costs
Gold production increased by 16% during the third quarter of 1992 while cash costs per oz. decreased by 23%, Lac Minerals (TSE) reported. In the first nine months of 1992, gold output increased almost…
Amax quarterly results slip
Third-quarter earnings for Amax Gold (NYSE) took a turn for the worse, sliding to US$700,000 from US$5.4 million for the same period last year. Earnings for the nine months ended Sept. 30 were also lo…
EXPLORATION ’92 — High-profile gold project — Pipeline
One of the highest-profile projects in southwestern U.S. is the continuing exploration and development program at the Pipeline gold deposit in Crescent Valley, Nev. The Pipeline project is part of the…
INSIDER TRADING — Fuda vends Ontex shares
With the promising Brookbank gold project near Beardmore, Ont., still tied up by a property ownership dispute, the president of Ontex Resources (ASE) recently sold some of his interest in the junior. …
Waddy Lake drills at Komis
Waddy Lake Resources (TSE) has announced further drill results from a recently completed program on its Komis deposit near La Ronge, Sask. The 20-hole program was designed to confirm and expand minera…