Chance Mining & Exploration was quiet at 40 cents -41 cents this week. Chance had been very active back in January, reaching a high of 76 cents on rumours about the potential a property in which the company has an interest near the Kidd Creek Mine.
Southern Arizona Mining & Smelting acquired a remote exploration property north of Fort Hope, Ont., and issued an amusing press release comparing the property’s geology with that of the Sudbury basin and the Bushvelt area of South Africa. These geologicial settings have long been regarded as unique by most geologists. It went on to report that “14.6 million tons of nickel and copper” (no grades given) are indicated on the property. Such estimates are meaningless without associated grades. Southern Arizona was steady at 30 cents -50 cents .
Exxeter Resources has made some gains lately and traded up slightly to reach a high of 45 cents this week. The company’s main gold properties are in Quebec and the western United States.
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