Montreal Exchange Yorbeau popular

Shares of Yorbeau Resources are proving popular with investors. The junior announced encouraging exploration results from its Astoria gold property near Rouyn-Noranda, Que., from drifting being undertaken on three levels. Trading 732,000 shares during the week ended Jan. 9, Yorbeau stock climbed 26 cents to 68 cents . Earning a 50% interest in the property, by investing $10 million on exploration work, is Belmoral Mines, which gained 4 cents to 75 cents on a volume of 50,200.

Both the market portfolio and mining and minerals index turned down on the week, the former falling almost 42 points and the latter off by about 10.5 points. Daily trading volumes ranged between 5.3 million and 8.4 millio n shares.

Orient Resources has struck a deal with Serem Quebec and VSM Exploration for work on its Grevet polymetallic property near Matagami, Que. Serem and VSM, partners in a nearby exploration project, may earn a 70% interest in the Orient property. Trading 29,200 shares, Orient slipped 5 cents to 25 cents , while VSM was off 4 cents to 80 cents with 29,100 shares changing hands.

Another spectacular intersection has been announced by Spirit Lake Explorations from a drilling program at its Edwards gold property near Wawa, Ont. The company says hole 103 cut 1.16 oz. gold per ton over 17 ft.; it previously announced a 10.6-ft. section grading 11.57 oz. from hole 101. Spirit Lake traded 22,300 shares, dropping 9 cents to $1.80.

Now that its $6-million financing is complete, Exploration Orex can step up the exploration program at its Goldboro gold project in Nova Scotia. Assays from new drill holes are expected in the near future. Orex dropped 12 cents to $1.51 on a volume of 283,400.

Ressources Miniere Forbex and ASE-listed Bonanza Metals report a second drill is working at the East Poirier zinc project south of Joutel, Que. Forbex, which slipped 9 cents to 32 cents on 27,300 shares, is earning a 50% interest in the project. Bonanza is the operator.

A drilling program involving three properties in Quebec’s Abitibi region has been started up by Societe d’Exploration Miniere Mazarin. Of the three properties, the gold-copper Wilco play near Rouyn-Noranda, Que., will undergo the most drilling. Mazarin closed unchanged at 80 cents on 278,800 shares.