Tundra drilling (February 20, 1989)
Tundra Gold Mines (VSE) is operating two drill rigs on its 2,400-acre McKenzie Break property in Quebec. Drilling has returned encouraging results from two mineralized zones. Results include 1.3 ft gr…
News
LAC nets record gold production
Record gold production of 319,407 oz enabled LAC Minerals (TSE) to earn $45.9 million or 50 cents per share in 1988. This compares to earnings of $41.9 million or 48 cents per share realized in 1987…
News in Brief (February 20, 1989)
Delaware Resources has changed its name to Prime Resources Corp. (PMR:VSE) on a share-for-share basis.
Delmay options claims
Delmay Mining Corp. (ASE) has optioned its Stitt property near Kirkland Lake, Ont., to Silver Spur Resources (VSE) and Whiskey Creek Resources (VSE). Silver Spur and Whiskey must spend $500,000 each o…
Imperial studies $135-million plan for Polley
After analyzing the 1988 exploration program at the Mount Polley copper/gold deposit in south-central British Columbia, project operator Imperial Metals Corp. (TSE) says drilling has successfully conf…
Editorial Bringing the past to life
Rosa Brown was no fool. The little old lady who trooped through Kirkland Lake in the years between the two World Wars accompanied by her pack of dogs may have been eccentric, but she was no fool. They…
White mine’s output up but operating costs rise
Gold production at the A.W. White mine near Red Lake in northwestern Ontario totalled 70,200 oz last year, up from 63,800 oz in 1987, Dickenson Mines (TSE) reports. During the fourth quarter of 1988, …
DRX to launch control bid for troubled McFinley Mines
New York-based holding company DRX Inc. is preparing to launch a takeover bid for McFinley Red Lake Mines (TSE). Dissatisfied with the lack of progress at McFinley’s Bateman Twp. gold project near Red…
Editorial How will Epp fare?
Government plays an ever-increasing role in how business operates in Canada, whether it’s primary industries like mining or any other commercial endeavor. But does it matter who sits at the head of th…
Drilling resumes at Bitech project
After arranging a $1.3-million private placement, Bitech Energy Resources (ASE) has resumed drilling at the Nugget Pond gold project in Newfoundland. Bitech has so far outlined 259,396 tons of grade 0…
Vista mill results
Vista Mines (TSE) has completed a 10,000-ton bulk sampling program from its Rio gold deposit in Saskatchewan. The sample yielded an average grade of 0.12 oz gold per ton. Milling was performed at Vist…
FINANCING (February 20, 1989)
VANCOUVER Benz Gold Res — gross proceeds rec $112,500. Golden Sky Res — gross proceeds rec $133,400. Sleeping Gold Ltd — 600,000 offered @ 43 cents per sh. Stag Expls Ltd — gross proceeds rec $19…