Vancouver Stock Exchange Hot hole boosts Huntington issue

What can only be described as a “barn burner” of a drill hole boosted the share price of Huntington Resources by $3.95 when it reopened this morning after a three-day trading halt. Weighing in at 2.03 oz per ton across an intercept length of 235 ft, the reverse circulation drill hole is one of the best ever reported in the Canadian mining industry. (See front page story).

Huntington’s share price peaked at $5.25 in early trading today but then slipped below $4 after some of the initial enthusiasm had subsided. The results are remarkably consistent and there’s no doubt the hole is real. Indeed, reject drill cuttings contain visible gold which can be recovered by hand — and that’s as real as you can get.

Compared to Huntington, the rest of the market looks tame but for a drill hole like that all is forgiven. Leading the board on volume at press time was newly-listed Approach Resources which traded at 38 cents on a turnover of 605,000 shares.

Expeditor Resources climbed 18 cents to 63 cents in heavy volume and Apex Energy was 30 cents stronger at 75 cents . Expeditor has extensive land holdings in the Northwest Territories, some of which encompass Lupin- type stratiform gold-bearing assemblages. Esso Minerals is working on Apex’s Adams Lake property near Kamloops, B.C. Diamond drilling will attempt to find an extension of the Rea Gold discovery on Apex ground.

Also moving higher was Eureka Resources which jumped 20 cents to 90 cents . The company’s Frasergold property is being explored by Southlands Mining but the joint venture agreement is the subject of a bitter legal dispute. Over our report period Skyline Explorations shot up $1.50 to $15.50. Rumour s out of the Skyline-Iskuk River area suggest the Skyline project is well behind schedule and won’t be operational this month or possibly next. Brican Resources came on strong, rising $1.00 to $1.45 while Gulf International Minerals posted a respectable increase of 90 cents to $2.85. Brican has been exploring its Battle Mountain properties in Nevada and results are said to be encouraging. Gulf International will begin exploring its McLymont property in the Iskut River area later this month.