Alberta Stock Exchange Montclerg shoots up

While only 62,100 shares changed hands, the Montclerg issue shot up 54 cents before closing at 79 cents .

According to the company, a 22,000-ton bulk sample taken from the project in 1950 contained 0.25 oz gold per ton, 5.58 oz silver and 7.13% lead.

Montclerg says 54,000 tons of mineralization still exist down to the 200-ft level and future work will include an examination of underground and surface material, line cutting and geophysical surveys. That work is expected to be followed by diamond drilling.

A 40 cents increase in the Montello Resources issue may be attributed to the company’s recent decision to get into the aircraft manufacturing business. Vancouver-based Montello says it has signed a letter of intent to acquire 90% of Promavia S.A., a Belgium-based jet aircraft manufacturer.

During the week ended Dec 5, BMR Gold failed to build on the gains made during recent trading sessions. The issue closed down 9 cents at 97 cents , following the release of assay results from its American Mine gold project south of Las Vegas, Nev.

After completing 18,000 ft of diamond drilling, BMR says that 135,000 oz gold are contained in high-grade mineralization averaging 0.15 oz along a 600-ft strike length. The next phase of drilling is scheduled to begin immediately.

Rainbow Exploration was stronger after releasing assays from four drill holes that tested its Falconbridge Twp., joint venture northeast of Sudbury, Ont. Inco Exploration, a unit of Inco Ltd., is earning a 60% stake in the property by spending $600,000 over a 4 1/2- year period.

News that control of Falcon Point Resources has been bought by Toronto businessman Stanley Mourin, through his investment firm Ainsley Financial, was largely ignored by market speculators. The issue gained 1 cents to close at 11 cents . But with 1.5 million of the company’s approximately four million outstanding shares in hand, Mourin says he plans to find a partner to develop the company’s 9-claim nickel property near Kirkland Lake, Ont. Among its assets, Falcon Point has some producing oil and gas wells in Alberta.

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