Montreal Exchange Onyx, Oasis active

Two companies belonging to Groupe Minier of Val d’Or, Onyx Resources and Oasis Resources, each traded more than a million shares during the past week on the Montreal Exchange.

Onyx, which closed up 10 cents to 44 cents on a volume of 1,541,900 shares, has reported encouraging preliminary results from an exploration program on Kerr Addison Mines property in Joutel Twp.

The company can earn up to a 50% interest in the property by spending $600,000, an option the company plans to complete this year, President Rejean Gosselin told The Northern Miner. Onyx is the operator.

Shares of Oasis traded for a volume of 1,272,800, closing up 2 cents to 72 cents . Oasis is involved in a search for platinum in northern Quebec with Falconbridge Ltd., in the Cape Smith belt at Ungava. Oasis is earning a 40% interest through expenditures of $1.75 million.

In general, trading on the exchange was for the most part down during the week, with the mining and minerals index indicating continued activity among the resource issues.

Closing up $1.21 to $3.85 on a volume of 977,100 was Mimiska Exploration of Val d’Or. The company recently announced preliminary results on the Fern Elizabeth property in Atikokan, in northwestern Ontario, where stripping and trenching work uncovered three gold veins.

Announcing that it would be conducting a bulk sample of 40,000 tons this summer on its Launay- Privat gold property, located 40 km northeast of Rouyn, was Messeguay Mines of Val d’Or. President Norm Farrell said one million tons of reserves are indicated, with grades averaging 0.15 oz. Messeguay closed up 24 cents to 72 cents with 621,900 shares changing hands.

Trading 405,000 shares and closing up 38 cents to $5.13 was Rouyn Resources of Rouyn, Que. The company recently announced completion of financing on approximately $11.2 million worth of flow-through funds, the proceeds to be used for exploration work on four properties.

Closing down 29 cents to $3 on 31,500 shares was Chesbar Resources, which has announced the start-up of a new $2.77 million exploration program at the Chester Twp. site in northern Ontario. Chesbar is earning a 60% interest in the property, which is owned by Murgold Resources.