Alberta Stock Exchange Gold stays strong

The upward climb of Monte Carlo Resources has come to a shuddering halt. After adding $1.80 to $2.80 during a four-week period, the issue has tumbled even quicker, back to $2. Monte Carlo has a large concession on the Caribbean island of Aruba which is being explored for gold. Grass-roots in nature, no results from the program have ever been released.

Barron Hunter Hargrave Strategic Resources has picked up an option to acquire an interest in an Arizona gold play. Despite the fact that gold occurs as erratic high grade shoots and the property is better known for its lead production than for gold output, Barron Hunter has big dreams. The company is planning to drill wide-spaced 100-ft holes. Based on this work, they hope to outline “25 million to 50 million tonnes of reserves with an average grade varying from 0.05-0.35 oz gold per ton.” With more than 30 million shares issued, the stock remained unchanged at 26 cents -28 cents

A gold intersection by Sweany Gold Corp near Beardmore, Ont., helped move that issue to 20 cents from 13 cents . Sweany operates a $4.5 million exploration program funded by Gunnar Gold. One intersection cut 4 ft grading 0.3 oz gold per ton and 2% copper. Another 700-ft stepout hole cut two zones of massive sulphides ranging up to 5.5 ft in width. Assays are expected shortly. Gunnar continued at $1.15.

Another company will be taking a shot at Holmer Gold Mines Bristol Twp., Ont., gold property near Timmins. Chevron Canada has an option to earn 50%. Holmer was steady at 70 cents . The property has reserves of 720,000 tons grading 0.11 oz gold per ton. The company is also under the reins of ex-Campbell Resources geologist Dr. K. Sethu Raman who has become both a shareholder and president.

Shiningtree Resources consolidated on a five for one basis. One trade this week was for 50 cents , which is equivalent to 10 cents on the old scale. With seven drill rigs in operation and a $12 million flow-through offering completed on paper, Seadrift International Exploration is busy. The issue added 55 cents to $3.