COATS (over-the-counter) Lithium leaps forward

Taking another giant leap, shares of Lithium closed at 90 cents on a volume of 862,400 for the week ended April 17, up 33 cents from last week’s close. Lithium is earning a 50% interest in the Oxford Lake project in Manitoba, where Noranda recently confirmed extensions of a gold-bearing shear zone. Excluding the new finds, geological reserves on the property are estimated to be 800,000 tons grading 0.19 oz. gold per ton. Remaining active, 808,500 shares of Southern Arizona Mining and Smelting changed hands, closing at 50 cents, down 7 cents from last week. Southern has recently bought into two companies with interests in the Eskay Creek area of British Columbia.

Windy Mountain Explorations have released more copper results following the completion of its 35-hole drilling program on the MacLeod Lake project in Quebec. Low-grade copper-molybdenum mineralization was encountered over widths of more than 125 ft. Windy shares traded between $2.50 and $3 on a volume of 23,450.

With drilling on the Fontana gold project in Quebec on hold until May, shares of Portfield Industries have been dropping. Portfield has a 15% royalty interest in the project that spurred trading activity last month with reports of high-grade gold. Trading 11-14 cents, 110,000 Portfield shares changed hands.