Montreal Exchange (September 21, 1987)

Continuing to trade actively on the Montreal Exchange this week was Abitibi Metal Mines, which closed down 3 cents to 24 cents with more than 1.2 million shares changing hands. Confident about bringing the six-claim Audet property, located north of Malartic, Que., into production, the company is considering a heap leach operation to recover the gold. A 4,165-ton bulk sample taken from the property earlier this year returned approximately 444 oz gold.

During a week of fairly good general trading on the exchange, the resource issues continued to be popular. The mining and minerals index tumbled at the end of the week, however.

Societe d’Exploration Miniere Vior, which gained 8 cents to $2.60 on a volume of 110,600 shares, has announced encouraging results from the current drilling program on the Douay property in the Casa Berardi area. The program is aimed at verifying the extension at depth of the deposit with possible reserves of 250,000 tons grading 0.26 oz gold per ton, as well as the continuation of a new gold-bearing zone uncovered in March of this year.

Trading 1,080,200 shares and moving up 10 cents to 60 cents was Brosnor Exploration, which, among other projects, is busy exploring the Louvicourt gold property in northwestern Quebec. The company was able to start sampling the Adelmont zone earlier this year following completion of a decline to a vertical depth of 300 ft.

Perron Gold Mines, part of the Hughes-Lang group of Vancouver, is hoping to pour its first gold bar in January, 1988, at its Sleeping Giant property north of Amos, Que. The company’s stock slipped 19 cents to $4.75 on a volume of 72,200. Another Hughes-Lang company, D’Or Val Mines, this month officially opened its gold mine near Val d’Or, Que. The mine started into production in April of this year. D’Or Val issues closed down 9 cents on the week to $4 with 33,700 shares changing hands.

Not quite as active as last week was Stabell Resources, which moved down 5 cents to 70 cents on 1,015,300 shares. Stabell, drilling on the Dubuisson gold property near Val d’Or with partner Acquisitor Mines, recently reported intersecting what the companies think is the main shear zone extension of the former Sullivan Consolidated mine.