STOCK MARKETS — Heavy trader Murgor releases more results

The Vancouver Stock Exchange composite and resource indexes were up slightly during the report period ended March 14. The former gained 8.23 points to close at 705.02, while the latter finished ahead 5.97 points at 1,101.93.

Murgor Resources continued to trade heavily, losing 18 cents on a volume of more than 2.8 million shares to close at 88 cents. At presstime, the junior released results from four more holes of its 10-hole program. Among the assays were 0.16 oz. gold per ton over 8.5 ft. from hole 95-4, 0.12 oz. over 14.4 ft. from 95-6, and 0.19 oz. over 14.1 ft. from 97-7. No continuous economic values were reported for hole 95-5. Yet to be reported are assays for three holes. A second-phase 10-hole program is planned for the junior’s Barry Twp. gold property in northwestern Quebec.

More than 1.3 million shares of Castle Rock Exploration traded hands, gaining 15 cents to finish at 32 cents. A recent 9-hole program, totaling 3,300 ft., tested the gold potential of an intrusive diatreme breccia at the Cerro Agujaredo property in northwestern Mexico. Previous surface and underground sampling averaged greater than 0.06 oz. for about 500 samples. Some of the excitement of Diamond Fields’ Voisey Bay discovery in Labrador appears to be rubbing off on International Canalaska. The issue jumped 23 cents to close at 88 cents. The company recently joint-ventured two of its wholly owned claims to Columbia Yukon Resources, which is seeking relisting on the Alberta Stock Exchange.

Adjacent to the Diamond Fields project are the Canalaska claims, VBE-1 and VBE-2, where a preliminary phase of airborne geophysics is under way. By paying $200,000 and spending $2 million during a 4-year period, International Northair Mines can earn a 51% interest in the 899 claims of Lucero Resources in the Voisey Bay and Harp Lake area. The companies expect to undertake an airborne geophysical survey shortly. International Northair closed up 4 cents to 50 cents, while Lucero gained 18 cents to finish at 89 cents.

Abacus Minerals was up 13 cents to 55 cents on heavy trading. The company can acquire 100% of the Niblack massive sulphide project in southeastern Alaska. Agreements were reached with Lac Minerals, now a subsidiary of Barrick Gold, to acquire its 70.49% share, and with Noranda for its 29.51% interest. Geological mapping and sampling of four trenches, totalling roughly 1,650 ft., are being carried out on Consolidated Trilogy Ventures’ Nueva Esperanza property near El Salvador, Chile. The company reports copper mineralization over an area substantially larger than previously indicated. Assay results from the present trenching are expected in three weeks. Previous sampling of underground workings and pits averaged 4% copper for 20 samples. Consolidated Trilogy doubled on the week, jumping 45 cents to close at 91 cents. Arista Resources added 22 cents to finish at 48 cents. The company has acquired two gold mining properties in southwestern Arizona through the acquisition of Arizona Gold Mines, a privately owned corporation. The properties include the 480-acre Goodman mine, which comprises 24 gold mining claims in the mining district of La Paz, and the 180-acre Jackpot & Ada K mine, which consists of three placer gold mining claims.

In southern Chile, further assay results from hand trenching on the Guindo property of Arauco Resources continue to confirm the consistent nature and grade of the gold mineralization. Sampling of the southern portion of the C zone anomaly returned 150 ft. of 0.13 oz. The C zone anomaly, defined by a 1-part-per-million-gold contour, measures 1,150 by 330 ft. and is situated 250 ft. east of the B zone. Previously reported values from the B zone include 370 ft. of 0.22 oz. from nine trenches, while five trenches, totalling 750 ft., averaged 0.13 oz. for the A zone. Additional results from the A and B zones are expected within two weeks. Arauco closed at $1.70, up 15 cents. Toronto-listed Santa Elina Gold owns 62% of Arauco.