News

With a registration of 1,585 on the second night, the 39th annual convention of the Canadian Institute of Mining and Metallurgy at Toronto established a new signpost this week in the upward march of t…

Concurrent with a program of depth development, Pickle Crow Gold Mines has been intensifying the search for subsidiary vein occurrences. Two diamond drills are probing from surface ground contiguous t…

Rayrock Yellowknife Resources will spend about $3.5 million on exploration this year. Most of the money will be used in a search for precious metals, including reserve definition drilling on the Costa…

Newmont Exploration of Canada has budgeted $6.3 million for exploration in 1988. However, another nearly $4 million will be contributed by joint-venture companies on Newmont-managed ground, bringing t…

Canada’s newest gold mining giant, Placer Dome, is boosting its exploration spending to $51.9 million in 1988, an $11.6-million increase over the 1987 budget. But unlike Noranda, which has hungry base…

Getty Resources is exploring and developing five major projects in Canada financed by $10 million in 1987 flow-through share issues. It has a sixth project in Nevada, which is funded from working capi…

Thanks to the sale, late last year, of the Copper Rand and Portage mines in Chibougamau, Que. to Western Mining of Australia, Northgate Exploration is a cash-rich explorer. Cash and investments total …

Granges Exploration has reduced its budget this year, cutting $2.5 million from the $12.5 million spent last year on the search for base and precious metals. Of the current $10-million allocation, 1…

Last year, Noramco Capital gave a dazzling display of coast-to-coast ** fund-raising that netted about $60 million. This year, the company will narrow the field of prospects and concentrate on specifi…

Hudson Bay Exploration and Development, a wholly-owned subsidiary of Hudson Bay Mining & Smelting, will again be concentrating its exploration efforts in northern Manitoba and Saskatchewan in 1988. Th…

In 1988, Falconbridge Ltd.’s surface exploration budget will be $24 million compared with $22.5 million in 1987. Michael Knuckey, vice-president, exploration, says the proportion of expenditures in su…

Esso Minerals Canada plans to spend in the neighborhood of $11 million on gold and polymetallic massive sulphide exploration throughout Canada in 1988. About 70% will be directed toward precious metal…