Alberta Stock Exchange American Ore active

Although its not ore yet, mineralization in two drill holes created a flurry of trading in American Ore this week. Each hole intersected quartz and carbonate veining in multiple shear zones on a joint venture property at Iskut River, B.C.

Although the core is still out for assay, indications are encouraging for a prospect which earlier returned assays of 0.33 oz gold per ton over 2.5 ft and 9 ft of 0.14 from chip sampling of trenches.

Almost 150,000 American Ore shares changed hands during the report period in a range between 20 cents and 28 cents .

Three more holes are planned on the program.

Another Alberta-listed company, Seadrift International Exploration pulled a news-worthy hole this week on a base metals property in northern Quebec. But results failed to create sufficient interest in the issue to make it a top trader. A respectable 10.7-ft section averaging 13% zinc and 1.5% copper was pulled from a depth of about 1,300 ft on the Aldermac property near Rouyn-Noranda. But only 14,700 Seadrift shares traded during the week. Prices ranged from $1.10 to $1.40.

Seadrift has a major program under way with three drills active.

Trading was light for Champion Gold Resources, which has a full slate of gold properties, including two in the Pickel Lake area of northwestern Ontario and two in Eastern Ontario near Cordova Mines. But the issue was up 65 cents to close at $2.25.

Varna Gold was very active, up 3 cents to 63 cents on 541,000 shares. This Calgary-based junior has several properties in the booming gold areas of Newfoundland.