Alberta Stock Exchange Galore boosts Yukon

Volume leader during the week ended Aug. 21 was Yukon Minerals which traded more than a million and a half shares for a gain of 12 cents. The Yukon issued closed at 28 cents after the company announced it has acquired a property adjacent to the claims of VSE-listed Bellex Mining in the Galore Creek area of British Columbia. Bellex recently announced a significant copper- gold discovery on its claims (see story). Shares of Golden Pacific Resources gained 20 cents to close at $4.70 during the report period. The company is finishing off a 12,000-ft. drilling program on its Penon Blanco gold property in California. Golden Pacific has spent more than $1 million on the property to date.

Benefiting from renewed interest in its claims situated northeast of Sudbury, Ont., was Flag Resources which traded 64,100 shares to close at 30 cents, up 17 cents on the week. Earlier this month, Falconbridge Ltd. staked two townships near Flag’s ground. The object of the staking is a huge unexplained geophysical anomaly 30 miles northeast of Sudbury. Both Flag and Falconbridge plan geophysical programs to test the anomaly this year. Ontex Resources moved up 10 cents to $1.65 on thin volume. The company is gearing up to meet rival Metalore Resources in court on Sept. 4 for a trial to settle ownership of the Brookbank gold deposit near Beardmore, Ont., where Placer Dome is operator.

Two other junior gold issues posting minor gains this week were Glencairn Exploration up 8 cents to 93 cents, and Kingswood Exploration up 5 cents to 33 cents. Kingswood recently completed a $1.12-million flow- through financing to fund its exploration programs in Quebec.

Shedding 52 cents to close at $2.20 was Durvada Resources which has been looking for more ore on its heap leach gold property in Nevada. Also down 19 cents this week was Tyrae Resources. It closed at 80 cents on volume of 145,000 shares. Carlin Gold traded 68,600 shares and slipped 4 cents lower to 60 cents. Newly listed Capra Minerals was steady at 55 cents. The company was formed to develop gold and base metal properties.

Capra has entered into a joint venture with Integrated Resources which requires the former to spend $400,000 prior to Dec. 31 on the Goat claims of Integrated near Telegraph Creek, B.C. The Integrated issue traded 130,600 shares and remained firm at 31 cents.