Queenston, affiliates in flow-through deals
Toronto-based Queenston Gold Mines (TSE) has entered an agreement with CMP 1989 Resource Partnership and Co. to subscribe for $275,000 in flow-through share financing for 1989. Queenston said proceeds…
News
Connors completes exploration hole to 8,688-ft depth
An exploration hole to a depth of 8,688 ft and at 64 degrees was completed recently near Kimberley, B.C., by Connors Drilling of Kamloops, B.C. The hole was drilled with Longyear’s CHD 76-mm coring eq…
Seabright open pit
Mining from the first bench of the Touquoy open pit has removed 27,000 tonnes of rock grading 1 g gold per tonne (0.029 oz gold per ton) Seabright Explorations (TSE) says. The Touquoy property is in N…
People (May 22, 1989)
METALLGESELLSCHAFT AG — Dr. Heinz Schimmelbusch appointed chief executive officer and will be based in Frankfurt, West Germany.
`Glasnost’ brings Polish mine, VSE junior together
The new spirit of glasnost sweeping Poland has set the stage for an agreement between that country’s largest copper mining and smelting organization and a Vancouver-based junior mining company. The re…
Montreal Exchange: Market advances
The market took a turn for the better this week with both the market portfolio and mining and minerals index posting broad advances, more than 65 pts and almost 62 pts, respectively. Volume was light-…
Drillers need to cut lost-time injuries says MAPAO director
The diamond drillers’ job is seen as a high risk occupation and unless the industry does something to improve that image, government may step in with increased regulation to reduce the rate of lost-ti…
Jolu gold mine continues to give impressive results (May 22, 1989)
The production performance of the Jolu mine in Saskatchewan’s La Ronge district has progressed from impressive in March to spectacular in April. The 400-ton-per-day gold mine is operated by 30%-owner,…
Canamax closes deal
A definitive agreement has been signed between Canamax Resources (TSE), Pacific Trans-Ocean Resources (TSE), Lloyds Bank and Central Capital Corp. regarding the sale of the Ketza River gold mine to Ca…
Belmoral reports quarterly loss
Low gold prices and a lower grade of ore at the Dumont mine near Val d’Or, Que., were part of the reason Belmoral Mines (TSE) recorded a $4 million net loss for the first quarter of this year, the com…
Flow-through battle, increase in membership highlight ’88
From a report by Max Matte, secretary-manager of the Canadian Diamond Drillers Assocation (CDDA), to the association’s annual general meeting in Quebec City recently. The year 1988 does not have what …
Granges Exp. faces Trout Lake law suit
Toronto-based investment firm Oxford Acquisitions Inc. recently launched a $100-million law suit against Granges Exploration (TSE) and Outokumpu over a recent deal involving the Trout Lake mine in Man…