Micham goes underground
An underground work program has started on the Madoc, Ont., gold property held under option by Micham Exploration. The $2.3-million program will include a 1,000-ft- long decline ramp extending to a de…
News
Drilling by X-Cal
X-Cal Resources (xcl:tse) has commenced a winter diamond drilling program on its Snowbird property near Fort St. James, B.C. The program will continue for approximately five weeks. Current plans call …
Nickel Plate’s third life boosts Mascot
The third era of production from the historic Nickel Plate mine at Hedley is proving profitable for Mascot Gold Mines. The new British Columbia gold producer, owned 50% by Lacana Mining, expects to pr…
Toronto Stock Exchange Lacklustre trading underlies market selloff
Resource issues were unable to buck the sell off today, which saw the tse composite decline 47.8 pts to 3,122.57 pts. Last week’s improved U.S. trade deficit news — which generated a small jump in ma…
Cdn-United Minerals drilling B.C. prospect
A $300,000 exploration program is under way on Canadian-United Minerals’ Firewood polymetallic prospect located 10 miles north of Granisle in central British Columbia. Work will include 5,000 ft of di…
Canada’s mineral output surges ahead 11% in 1987
Each of nine metallic minerals included in an estimate of 1987 mineral output in Canada by the federal department of Energy, Mines and Resources showed an increase in volume of output during the year….
Cominco intersects high-grade at Buckhorn
More high grade gold mineralization has been encountered below the West Sinter zone at the Buckhorn mine of Cominco Resources International. The latest results included 165 ft grading 0.8 oz gold per …
Rio’s computers in Elliot Lake mines will save over $10 million by
Computers are rapidly making their way into mines across the country. This development is inevitable because computers that are used properly save time and money. Rio Algom’s management is aware of th…
Investors should give juniors more respect, analyst says
The following is the text of a presentation made recently at The Gold Show ’88 in New York City. My recent major recommendations among Tier 1 gold stocks were Lac Minerals, Echo Bay Mines and American…
Sale of Mascot brings profit to Royex Gold
An extraordinary gain resulting from the sale of Mascot Gold Mines to Lacana Mining, enabled Royex Gold Mining to realize net income of $47 million for the year ended Sept 30, 1987. This compares to a…
Greater Temagami drilling original copper mine claims
The old Temagami mine property 25 miles south of Ontario’s famed Cobalt silver camp will be getting the once-over by Vancouver-listed Greater Tema gami Mines. The company optioned the property from Te…
Lacana’s profit without Mascot lower in 1987
Earnings of $10.3 million (52 cents per share), before extraordinary items, for the nine months ending Sept 30, 1987, were recorded by Toronto-based Lacana Mining. Net earnings for the same period, af…