Placer Dome to gain stake in Alaskan property
Teryl Resources (TRC-V) and the U.S. subsidiary of Placer Dome (PDG-T) have struck a deal whereby the latter can earn a 60% interest in the Westridge property in Alaska.Placer Dome U.S. can earn its i…
1997
Rift cleared to explore Ugandan property
Junior Rift Resources (RIF-V) has been granted a second exclusive prospecting licence in Uganda.The new licence covers 3,374 sq. km, bringing the area of Rift’s licensed holdings in the country to 10,…
LATIN AMERICA — Vista to drill gold project in Venezuela
Vista Gold (VGZ-T) will begin drilling its Guariche gold property in Venezuela next month in an attempt to confirm proven and probable reserves.The resource at the Triunfo 1 concession, within the 25-…
CAG unveils results from Kazakstani prospects
Central Asia Goldfields (CGZ-M) has released encouraging drill results from winter drilling on the Ashiktas and Ortasay gold prospects in Kazakstan (T.N.M. March 24/97).At Ashiktas, the first hole rep…
LATIN AMERICA — CanAlaska picks up Mexican properties
International CanAlaska Resources (ICA-V) has picked up new ground in the growing mineral play in southwestern Chihuahua state, Mexico.The Vancouver-based junior can acquire two property packages, the…
LATIN AMERICA — Argentine government manoeuvres to attract dollars to mining sector
Although mining represents but a small portion of Argentina’s economy, more and more mineral development projects are expected to enter production there.The country currently produces 35,000 oz. gold …
STOCK MARKETS — Sluggish VSE index drags miners down
The Vancouver Stock Exchange composite index continued its downward trend over the report period ended March 25, dragging many mining issues with it.The index lost 60 points to finish at 1,265.7. The …
METAL PRICES — FREE MARKET (March 31, 1997)
London Metal ExchangeMidday bid-ask prices in $US per tonneDateMar. 25Mar. 24Mar. 21Mar. 20Mar. 19…
Eastfield to transfer Canadian assets
Eastfield Resources (ETF-V) plans to spin off its Canadian properties into a new company.Under the plan, shareholders will exchange one Eastfield share for one New Eastfield share and one share in the…
BYG to buy YGC from Wheaton River Minerals
Whitehorse, Y.T.-based BYG Natural Resources (BYG-T) plans to acquire a controlling position in Vancouver-based YGC Resources (YGC-V) for $2.3 million.The deal would see BYG acquire Wheaton River Mine…
EDITORIAL PAGE — Tackling corruption
Doing business in foreign countries has placed some North American mining companies face-to-face with the problem of how to secure promising projects without taking part in the corrupt business practi…
THE DIAMOND PAGE — DiamondWorks starts mining in Angola
DiamondWorks (DMW-V) has begun mining alluvial diamonds at its Luo project in Angola, following the commissioning of a 120-tonne-per-hour floating dredge.The dredge, airlifted in from South Africa, be…