COATS (Over-the-counter) Black Gregor drilling

Investors reacted strongly to news that Black Gregor Explorations is planning a 20,000-ft. drill program on its Hemlo Gold property near Marathon, Ont. During the week ended July 10, 164,000 company shares changed hands, closing at 27 cents, up 7 cents from last week’s close. The new program of stepout holes will confirm the extent of a mineralized gold zone that stretches for more than one mile across the property, Black Gregor said. In the northern reaches of Quebec, Windy Mountain Explorations has discovered a train of mineralized boulders stretching for 1.5 km across its MacLeod Lake property, north of Chibougamau. Windy plans to conduct an IP (geophysical) survey along the length of the boulder train and its related outcrops in order to delineate new drilling targets. Despite the news, Windy’s share price remained steady this week in light trading of 31,300 shares.

Peat Resources, which is currently developing technology for the use of peat as an alternative fuel source, remained steady at 12 cents on a volume of 100,000 shares. Backed by Corona and Inco and by grants from the government, Peat hopes the new technology will prove to be effective in reducing sulphur emissions. Peat President Leon LaPrairie said he is still waiting for results of burning tests from Ontario Hydro.