More high-grade results from the Sewell Brook property in New Brunswick have had little effect on the price of Costigan Gold, which was unchanged at 45 cents for the week ended April 2. Although intersections from the latest 15 holes on the property are consistently zinc-rich (up to 43.7%), widths are relatively narrow (up to 11.6 metres). Costigan is earning a 40% interest in Sewell Brook from partner NovaGold Resources. Strike Minerals continues to trade heavily in anticipation of further results from the Robertson Twp. base metal play near Matachewan, Ont. Strike picked up 2 cents to close at 57 cents as partner Queenston commenced drilling on hole 13.
Aurelian Developers announces the sale of all of its shares in Dalhousie Oil company for $237,929, and the settlement of its lawsuit against Dalhousie. Aurelian also owns 9.9% of Armistice Resources, whose principal asset is the Sheldon-Larder gold prospect at Virginiatown, Ont. Aurelian closed unchanged at 8 cents on thin volume.
After seeing trading volume move into the moderate range in recent weeks, Raleigh Resources announces there are no new developments to justify the activity. Raleigh continues to hold 23 unpatented mining claims near Dryden, Ont. Although geophysical surveys and diamond drilling have yielded encouraging results, Raleigh says it will not continue work on the property until economic conditions improve.
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