News in Brief (March 23, 1987)
Penway Explorers reports it has an agreement to acquire 20 additional mining claims in the Red Lake area of Ontario. The company says to date no work has been done on these claims, but that it intends…
News
Toronto Stock Exchange Trading still lively after all these weeks
Well into the third month of the new year and still the pace of trading has not slackened. If anything it’s becoming even more hair- raising with records being shattered right left and centre. The com…
Western results excite Teeshin
Favorable gold and silver drilling results have been reported by Teeshin Resources for its Dome Mountain project near Smithers, B.C. In Boulder zone one, the average grade of gold indicated was 0.44 o…
X-Cal steps up drill program
A second diamond drill has allowed X-Cal Resources to step up drilling on its Snowbird gold- antimony property in central British Columbia’s Omineca district. A detailed geophysical survey now in prog…
Predict 50% increase in Wharf gold output for 1987
Chronically under-financed, Wharf Resources has struggled to maintain production at its Annie Creek gold mine near Lead, S.D. But the company appears to have turned the corner and with record precious…
Argentex assays
Argentex Resource Exploration has received check assays for two holes completed on the company’s property in Puiseaux and Orvilliers twps., Que. Hole 87-49 cut three sections of 8 ft, 3.8 ft and 115.6…
Did not want to kill CANMET
Your editorial of Feb 9, “Where does CANMET go from here?” contains several innacuracies for which I would appreciate public correction. Firstly, I have never been commissioned to do a study of CANMET…
Sonora gold group getting major funds
Vancouver-based ABM Gold Corp. is raising major financing in the United States for the further financing of four closely associated listed Canadian companies within its fold — Sonora Gold Corp., Gold…
Nuinsco/ Seadrift active in Quebec
With a healthy funding package in place, activity is continuing at a brisk pace with seven drills in operation at the Aldermac and Lac Dufault prospects held in joint venture with Toronto-listed Nuins…
Funding increased
Toronto-based Canadian Lencourt Mines has completed a placement with NIM and Co., Ltd. Partnership — 1987 of 1,250,000 shares on a flow-through basis, netting the company $500,000, subject to regulat…
Too much on gold
As a subscriber of many years, I have always appreciated your newspaper for its wide coverage of the industry and the completeness of information on the Canadian mining scene. As an expatriate mining …
People (March 23, 1987)
Gold Institute — John H. Lutley appointed managing director.