Unlisted Trading (January 13, 1992)

Topping the list of most active issues for the week ended Jan. 7 was Horne Fault Mines, which gained 20 cents to close at 50 cents.

The junior is hoping to start up a slag processing operation in Nevada. Horne says the slag material, a byproduct of a pyrometallurgical plant, contains precious metals grading up to 1.17 oz. gold per ton, 22.45 oz. silver, 0.87 oz. platinum and 22.45 oz. palladium.

Last spring, Horne acquired a 100% interest in the project, and has the option to earn a 25% interest in any additional facilities by financing construction of production-scale plants.

A spokesman for the company said the recent trading activity is probably a result of renewed efforts to raise financing for the Nevada project and other ventures.

Falconbridge Ltd. says it will begin drilling on White Star Copper Mines’ property adjacent to the Kidd Creek mine “as soon as (it) can,” but says that linecutting and geophysics will take at least 2-3 more weeks. White Star lost 5 cents to close at 58 cents.

Sandy Lake Exploration, which registered as one of the most active issues, is trying to secure work permits for exploration on the Sandy Lake Indian reservation north of Red Lake, Ont. Assuming negotiations with the local band are successful, Sandy plans to spend about $150,000 drilling a gold target, says officer Elizabeth Kirkwood.

Sandy Lake closed unchanged at 58 cents.