Alberta Stock Exchange Toprene Gold moves up

While volumes were generally low, a number of gold stocks posted substantial gains during trading this week.

Torene Gold Exploration and Jascan Resources lead the way with 65 cents gains as gold prices continued to move towards the $500(US) barrier.

A consistent performer, Jascan is currently earning a 22.5% interest in a Montana silver/copper deposit located 15 miles southwest of Asarco’s Troy mine where reserves stand at 71 million tons of 2.32 oz silver per ton.

Trading on a volume of 174,800, the Jascan issue closed at $3.10.

With 23,700 shares changing hands, Nova Scotia-based Torene Gold closed at $1.25. The company has a number of gold properties in its portfolio of exploration prospects including 480 acres in the Pickle Lake, Ont. region.

Not far behind was Del Rio Resources which added 50 cents to its share price. As reported (N.M., Nov 23/87) Del Rio is attempting to diversify beyond its oil and gas interests into the high technology field.

Trading on 21,500 shares, the issue closed at $5.50.

San Paulo Explorations was also impressive, gaining 45 cents to close at $1.30 on a volume of 38,300 shares traded. The company is currently working on a 30,000 ft drill program on the old Leitch gold mine near Beardmore, Ont., where it is joint venturing with Teck Corp.

After raising $1.5 million to finance exploration at its Cheminis project at Larder Lake, Ont., Northfield Minerals of Toronto was up 20 cents to close at $1.70 on a volume of 1,200 shares traded.

The Northfield Group and partner Golden Shield Resources is attempting to prove up tonnages within various zones comprising the Cheminis deposit where reserves stand at 2.6 million tons grading 0.16 oz gold per ton.

Regina-based Vista Mines has filed a prospectus to raise $750,000 for what the company called gold exploration and development at its gold properties near Flin-Flon, Man.

As a result, the Vista issue gained 25 cents to close at $2.20 on a volume of 23,300 shares traded. Vista’s Manitoba/Sask. interests include the 5,650-acre Uskik Lake and 1,500- acre Bootleg Lake gold properties.