Corona acquires option in Messeguay bet
An option agreement has been entered into by gold producer Corona Corp. (TSE) and Quebec junior Messeguay Mines (ME) whereby the former may earn up to a 70% interest in a portion of Messeguay’s Launay…
News
Kewagama drilling at Granada bet
A preliminary underground drilling program at the Granada property in northwestern Quebec has been completed, Kewagama Gold Mines (Quebec) (ME) reports. A total of 3,288 ft of drilling was carried out…
Vancouver Stock Exhange Calpine continues to climb
With the Christmas season drawing near, market activity on the VSE has dropped off considerably. The expected seasonal decline and some tax-loss selling impacted on the VSE Index which was off 2.35 po…
Alberta Stock Exchange Bitech on gold scent
Even in a listless market, investors will still respond to the sniff of a significant gold discovery. Bitech Energy has offered plenty of recent evidence that it is on the scent of something interesti…
Canaustra finds sulphides on Gull Pond property
A new discovery of polymetallic sulphides has been made by Canaustra Gold Exploration (VSE) on the Gull Pond property in the Baie Verte peninsula of Newfoundland. The discovery was the result of back-…
Lornex wind-up meets opposition
An agreement concluded earlier this month between Rio Algom (TSE) and Teck Corp. (TSE) which would see Lornex Mining (VSE) discontinued as a public company is said to be facing opposition by at least …
Aunore funding
Two private placements totalling $1 million have been completed by Aunore Resources (ME) with Middlefield Resource Fund 1988 Ltd. Partnership II. The company says proceeds from the placements (worth $…
Books (December 19, 1988)
Walter Guppy’s book “WetCoast Ventures” (N.M., Dec 5/88) can be ordered directly from him at Box 94, Tofino, B.C. VOR 2Z0. Or you can contact Guppy by phone (when he’s not out prospecting) at 604- 725…
Placer taking control of La Coipa
A gold and silver mining project in Chile with proven and probable reserves in excess of five million gold equivalent ounces appears to be on its way into the international property portfolio of minin…
Value of ’87 mineral production in Canada reaches $17.7 million
The value of mineral production in Canada (excluding petroleum and natural gas) totalled a record $17.7 billion in 1987, the Mining Association of Canada reports. Of that amount, the value of gold con…
Toronto Stock Exchange Gold equities dragged by tumbling bullion
Investors continued to beat on gold equities, dumping shares of companies in all catagories. The index responded to a $4 decline in the price of bullion, which opened at $422.60 on the second London f…
Noranda takes 100 tons from Central Crude bet
Noranda Inc. (TSE) is taking out a 100-ton surface bulk sample from five test areas on the No 6 and No 8 zones in the Mishibishu Lake area. Located 30 miles west of Wawa, Ont., the property is being e…