Cullaton Lake: crisis after crisis
On a fall day in 1960, two prospectors were tracking an iron formation through dense, soupy fog on the undulating barren lands near Henik Lakes in the Northwest Territories, about 200 km inland from E…
News
Gold is down the road, Denison chairman says
Gold might help the share price of Denison Mines, but it’s not likely the company will be into the gold business for some time yet. Following the annual meeting, Chairman Stephen Roman said that the c…
Inco’s VP seeks stricter environmental controls on new
Government funding assistance for new developments should be conditional on meeting environmental standards, says a senior Inco executive. “There is no way that we should have the taxpayer’s money bei…
B.C. Mines Minister wants to abolish mining royalties
British Columbia’s Mines Minister Jack Davis is arguing for a level playing field on taxation and freer markets for the mining industry. Speaking at the B.C. Mining Association annual meeting, Davis s…
Golden Rule expects to do record exploration work
Direct exploration costs in the 1987 fiscal year funded by Golden Rule Resources totalled approximately $4.2 million. But it was exposed to $11 million in expenditures under various joint venture agre…
Queenstake expands horizons from placers to hard rock
After spending a decade building its placer mining base, Queenstake Resources is using cash flow from this sector to develop several hardrock properties. Gordon Gutrath, president, believes a producti…
Imperial Metals
Imperial Metals reports net income for the 9-month period ended Dec 31 of $766,000 or 4.5 cents per share on revenues of $2.7 million. This compares to a loss of $54,000 or 1.4 cents per share after…
Carlson drilling Hemlo-Marathon bet
A 12,000-ft drilling program is being carried out by Carlson Mines and its joint- venture partner Black Gregor Explorations on their Hemlo-Marathon property, north of Lake Superior, Ont. The program, …
Investment Comment Northgate’s cash could help Westfield
With around $200 million in hand from the sale of its mining arm to Australia-based Western ining Corp., Northgate Exploration is well positioned to acquire some new gold properties. The Toronto outfi…
Mazarin, Dufresnoy are encouraged by first results
Encouraging first results have been released by Mazarin Inc. following drilling at the Inmont gold-copper property located 12 miles northwest of Rouyn-Noranda, Que. Mazarin, the operator, and sister c…
Harker-Holloway area continues to draw exploration activity
A spate of new gold discoveries made last year and construction of a new mine continue to stimulate a record amount of exploration in the Harker-Holloway area extending for 35 miles from Matheson, Ont…
Buoyed by record result, Newmont earnings go up
With five operating gold mines and 15 million oz in proven ore reserves, New York-based Newmont Gold is moving rapidly toward the number one spot in North America’s gold production leagues. The 95%-ow…