Alberta Stock Exchange Golconda drilling

Assays are being received for the first-phase drilling program at the Goldridge gold prospect in Oregon, Golconda Resources reported. The junior, which slipped a penny to 65 cents, traded almost 300,000 shares during the week ended April 30. Fire assays confirm the presence of coarse gold, it said. The second phase of the drilling program is set to start up this month.

At its Dennis porphyry copper-gold prospect in California, Golconda said it has completed more than one-half of the scheduled first-phase 3,000 ft. of drilling. The company said holes have been drilled to a depth of 400 ft. with extensive alteration and with copper and molybdenum mineralization.

Jerome Gold Mines announced that shareholders of International Platinum Mining, a private Ontario corporation, voted in favor of an amalgamation. Jerome, which traded 361,400 shares and gained 3 cents to 14 cents, expects the amalgamation to be completed this month.

An initial drilling program is planned by Manor Resources for its Virginia gold property near Gander, Nfld. The junior has a 100% interest in the prospect subject to a 1.25% net smelter royalty. Manor, which was 31 cents bid, 55 cents ask on the week, has a portfolio of varying interests in 13 properties in Newfoundland, Nova Scotia and Ontario. The company was formed through the amalgamation of Macree Resources, AVIP Resources and Blackjack Resources.

Gold Vessel Resources and North American Gold said they have been advised by Gold Spinners International that Gold Spinners has entered into a letter of intent for the sale of the first 200 barrels of bitumen per day to be produced from a tar sands project in Utah. Gold Vessel and North American have agreements with Gold Spinners enabling them to earn interests in the project. Gold Vessel closed unchanged at 35 cents on 55,500 shares and North American gained 13 cents to $1.25 on 292,000 shares.