Drilling expands potential of New World project
Drilling success on the New World property this year has Crown Butte Resources (TSE) predicting a substantial increase in reserves from those reported at the end of the 1989 program. Recent drilling a…
News
New group set to raise $1 m for Baslen exploration plan
A group of businessmen gathered in a downtown Toronto hotel room recently to discuss the future prospects for junior exploration company International Baslen Enterprises (ASE). The informal meeting wa…
Merrill to act as agent for Poco sale
Merrill Lynch Canada will act as financial adviser and agent in connection with Corona’s (TSE) planned sale of its oil and gas holdings in Poco Petroleums and Avalon Corp. Last month, Corona announced…
Chibougamau settlement imminent
An agreement to end a 6-month lockout at Westminer Canada, Chibougamau, Que., copper-gold mines is likely to be signed within the next week, according to Tony Owens, vice-president of operations. He s…
Agnico makes find half-mile west of Eagle gold mines
A new discovery located 2,600 ft. west of the Eagle shaft and on claims wholly owned by AgnicoEagle Mines (TSE) has recently been announced by the company. The extensive landholdings in Joutel Twp., Q…
Shearson rules out big slump for metals
The continuing Persian Gulf oil crisis may have dimmed prospects for lead and zinc, but a repeat of the 1974-75 and 1979-82 periods, when prices fell sharply and then remained depressed for a number o…
Eastmaque sets conversion period allowing 30 days
The board of directors of Eastmaque Gold Mines (TSE) has set the 30-day special conversion period for the company’s convertible preferred shares to begin on Nov. 19. The special conversion allows conv…
U.S. REPORT BMR looking at Nevada producer
An option to purchase all the outstanding shares of Oliver Hills Mining has been acquired by BMR Gold (ASE). Oliver Hills is a privately owned company which owns a gold-silver heap leaching facility n…
Filing claim staking by `fax’ marks end of an era; but few turn
What was earmarked “the last staking rush of its kind” barely caused a stir last week as a mere handful of individuals competed for ground on the western tip of the Shebandowan greenstone belt. As min…
NEWS IN BRIEF Golden Chance
Golden Chance Resources Inc. (GCH:VSE) has changed its name to Trimark Resources Ltd. (TRK: VSE) on a 1-new-for-9-old-share basis. Transfer agent is Central Guaranty Trust.
U.S. REPORT NDU starts drilling on Bend, prepares for TSE listing
Drilling is under way on the Bend copper-gold deposit in northern Wisconsin, according to operator NDU Resources (VSE). The deposit, which hosts preliminary reserves of 1.9 million tons grading 2.8% c…
Westlake, Minera merger approved
Final court approval has been granted for a merger between Minera Rayrock (TSE) and Westlake Industries (VSE) which holds a 40% stake in Minera’s Bellavista gold project in Costa Rica. Under the merge…