1997

Abacus Minerals (AMC-V) has calculated a drill-indicated resource for the Lookout zone of its Niblack volcanogenic massive sulphide project in southeastern Alaska.The resource stands at 1.8 million to…

In the 1930s, the Paymaster Consolidated gold mine near Timmins, Ont., was known as the “ham, jam and an orange mine.”When the Paymaster restarted in 1933, for the second time, funds were in short sup…

Reserves have increased substantially at the Cerro San Pedro gold project near San Luis Potosi, Mexico.Metallica Resources (MR-T) reports that oxide reserves now stand at 77.3 million tonnes grading 0…

Junior Ursa Major International (URSA-C) has added a fourth gold property to its portfolio of mineral assets in Kazakstan.The Hamilton, Ont.-based company can acquire a 60% interest in the Nirinsk lic…

Two more holes drilled by Placer Dome (PDG-T) on the Fault Lake property, adjacent to the company’s Detour Lake gold mine in northern Ontario, have intersected gold mineralization.The property, held i…

Calgary-based Canadian Mountain Minerals (CYM-A) and Kelowna-based Goldtex Resources (GXR) are encouraged by initial results from their gold-prospecting efforts in northwestern Yemen.The juniors are p…

Dong Bi appointed director.

Robert Cogliandro appointed president.

Gold Funds as of January 23, 1997BGRCentralNet Value$21.39$5.78Price$16.75…

A private placement has enabled Greenhope Resources (GRH-M) to raise just over $500,000 to fund exploration work in Mozambique.The major participant in the financing was Trillion Resources (TLQ-T), Gr…

Diamond drilling by Ashanti Goldfields (AHD.U-T) is about to begin on the Nassile property in Niger.The African gold producer can earn up to a 60% interest in the joint-ventured project from Royalstar…

An exploration program by the African subsidiary of Ashton Mining will test the diamond potential of the Kenieba project in Mali, West Africa.The project is 49% held by Vancouver-based Mink Mineral Re…