LETTERS TO THE EDITOR (May 11, 1992)
In its 1990 annual report, Glimmer Resources stated it has reserves in Hislop Twp. in northeastern Ontario of 1.07 million tons (968,190 tonnes) grading 0.34 oz. gold per ton. When one compares this d…
News
U.S.REPORT (May 11, 1992)
The sale of subsidiary Tenneco Minerals to Solvay America for US$500 million in cash was announced recently by Tenneco Inc. of Houston. Tenneco Minerals mines and processes trona ore to produce soda a…
Ottawa gold selling continues
All that government gold — 12.3 million oz. at the end of March — no longer glitters as it once did. However, despite depressed prices, there’s still a silver lining in those gold bricks gathering d…
Arimetco placement raises $25 million
Copper oxide specialist Arimetco International (TSE) has raised $24.9 million via a private placement of 5.2 million special warrants at $4.75 each. Acting as underwriters were Midland Walwyn Capital …
Hurdman stepouts follow zone
Stepout holes on the Hurdman Twp. joint venture property north of Timmins, Ont., have confirmed that the zinc-rich zone intersected in the first drill program (T.N.M., Jan. 20/92) of Noront Resources …
Public funding available in Rabbit Lake assessment
The federal government has awarded a total of $125,000 to participants in the federal environmental assessment of a proposed expansion at the Rabbit Lake uranium mine. The northern Saskatchewan mine i…
CORRECTION (May 11, 1992)
TVX Gold (TSE) director Glenn Ives recently bought 1,000 shares of the company for $3.40 to hold 1,000 directly. Incorrect information was reported in the May 4 issue of The Northern Miner.
Yellowjack drilling tests Katie claims
A recent hole drilled by Yellowjack Resources (VSE) to further test the Main zone on the Katie claims returned 426 ft. grading 0.2% copper and 0.008 oz. gold per ton from 226-650 ft. The company recen…
Cominco Int’l seeks funds for refinery, Turkish project
In order to fund expansion plans at the Glenbrook nickel refinery and development work at a copper project in Turkey, Cominco Resources International (TSE) recently announced plans to raise $20 millio…
Judge convicts Silver Bar’s Gilson
Junior mining company Silver Bar Mines has been found guilty by a provincial court judge in North Bay, Ont. of filing a press release containing misrepresentations. Ronald Gilson, president and a dire…
Casa Berardi drill targets ready
Partners Cross Lake Minerals (VSE) and Glen Auden Resources (VSE) report that New Legends Metals has spent more than $100,000 on their claim package in the Casa Berardi region of northwestern Quebec. …
Westar strike threatens mine
A labor strike at the Balmer coal mine in southeastern British Columbia threatens plans by Westar Mining (TSE) to restructure the company’s debt. Westar operates the Balmer and Greenhills open pit met…