Mixed trading prevailed during the week; both the market portfolio and mining and minerals index finished ahead, the former by 7.8 points and the latter by 32.5 points. Daily volumes were light-to-moderate, ranging be tween 4.9 million and 7.3 million shares.
In the area of the Aur/Louvem project, Aurizon Mines and its associated company Ezekiel Exploration have two drill rigs at work on claims lying immediately to the west of the discovery. The companies report the identification of copper, zinc and gold mineralization. Trading 90,100 shares, Aurizon slipped 7 cents to 39 cents .
Also, Exploration Denn’or and VSE-listed Orcana Resources are planning joint venture work on two properties lying to the west of the Louvicourt Twp. find. The pair will become 50/50 partners on Denn’or’s East Sullivan mine property and Orcana’s Farquharson property. Denn’or was 13 cents bid, 15 cents ask for the week.
Armistice Resources, trading 84,800 shares and closing unchanged at 27 cents , has decided to take on a partner to help explore its gold property at Virginiatown, Ont., next to the old Kerr gold mine. GSR Acquisition, soon to be taken over by TSE-listed Deak Resources, may earn a 49% interest in the property by undertaking exploration work worth $5.5 million. Deak plans to use an existing drift that was driven from the Kerr side to the Armistice property years ago, to gain access to the Armistice property for underground drilling.
A wholly owned subsidiary of La Fosse Platinum, Hollinger North Shore Exploration, recently reported the results of summer exploration work involving iron deposits of lump ore and showings of manganese in northeastern Quebec. Hollinger says it has acquired a sink-float plant, to be set up at Schefferville, Que., to upgrade the manganese content of its ore to commercial standards. La Fosse slipped 1 cents to 50 cents on 3,700 shares.
]]>
Be the first to comment on "Montreal Exchange Aur holds centre stage"