Funds for Orleans
A financing agreement worth $188,000 has been arranged between Orleans Resources (ME) and NIM Resources — 1988 and Co. Ltd. Partnership. To be issued are 250,667 shares at 75 per share. The funds wi…
News
Mill Rationalization Program
An engineering, procurement and construction management contract for a mill rationalization program was recently awarded to Wright Engineers and Fluor Daniel by Inco Ltd. The program, which is expecte…
MinVen finds gold in S. Dakota
Surface drilling at MinVen Gold Corp.’s (TSE) Gilt Edge mine in South Dakota has encountered significant gold mineralization over some unusually long thicknesses. The company is involved in a $9.4 mil…
Mining Reserve Calculations Begin For Sulphurets Project
Reserve calculations to be used in generating mining reserve figures for the advanced Sulphurets project in northwestern British Columbia are now in progress. The property is owned 60% by operator New…
Northgate, Westfield pool mining assets
Northgate Exploration (TSE) and affiliate Westfield Minerals (TSE) have agreed to pool several assets into a holding company. Known as Norwest Holdings, the company will own an 18% interest in Whim Cr…
Joint milling plan possible for Grangesw, Muscocho
The principal operating companies involved in the adjacent Mishi and Magnacon gold projects, Granges Exploration (TSE) and Muscocho Explorations (TSE), have agreed in principle to test mill up to 200 …
First Mississippi pre-tax profit from mining division $2.5 million
First Mississippi Corp. has reported a pre-tax operating profit of $2.5 million from its minerals division for the year ended June 30. The profit, which compares with a $200,000 loss a year ago, refle…
Render unto Caesar
The Polish mint has struck a one-troy-pound gold coin to commemorate the tenth anniversary of Pope John Paul II’s election as pontiff. Even though there are only 300 of the 0.999% pure gold coins mint…
Muscocho, McNellen release drill results at Magino below 500 ft
Drilling below the 500-ft level at the Magino gold project in northern Ontario confirms the downward persistence of the property’s multiple-vein system, say project partners Muscocho Explorations (TSE…
Tenajon Reports Further Drill Results From SB Property
Channel samples taken from recent underground work at the SB property near Stewart, B.C. returned impressive values in a number of metals including gold, silver, copper, lead and zinc. Tenajon Resourc…
Mill tune-up phase begins at Mark V bet
The first of several test milling runs was recently completed at Mark V Petroleums and Mines’ (VSE) Bagdad gold property near Philipsburg, Mt., where the Vancouver company is tracking a number of high…
Augmitto on schedule at Beauchastel property
Pre-production development is proceeding on schedule and within budget on Augmitto Explorations’ (TSE) Beauchastel gold property near Rouyn, Que. The company reports that construction of a 1,000-ton-p…