At press time, the gravity-bound VSE Index was off a further 3.47 points to 761.23, a decline of 8.12 points from a week ago. Goldrite Mining Corp. managed to post a gain of 25 cents to $1.50 today. The company has started a work program on its Wagonhammer project near Salmon, Idaho. This area has been extremely active since the discovery of the large Beartrack gold deposit.
United Gunn Resources, which has been making news with a natural gas drilling venture in northern British Columbia, was off 8 cents to $1.52, while American Reserve Mining gained 25 cents to $2.05.
A Prime Capital company, Achilles Resources, was the volume leader over our report period. The company gained 18 cents to 30 cents after announcing that work is about to resume on the GAB project in northwestern British Columbia. The property is situated next to the McLymont property owned by Gulf International Minerals. Last season, Achilles discovered a showing that returned some interesting assays; notably 1.85 oz silver, 8.31% zinc and 750 parts per billion gold.
Prime’s Calpine Resources didn’t fare as well and settled back 35 cents to $1.40. Prime Resources also lost ground, off 40 cents to $2.45.
Asian Canadian Resources was also an active issue, up 8 cents to 22 cents . Interest is focused on the company’s Jackson Wash project in southern Nevada where several large gold anomalies have been discovered. The company says the property has good potential for large volcanic-hosted gold deposits.
Bridger Resources gained a further 35 cents to $1.40 after announcing it will have a mill built on its gold property in Chile.
Cream Silver Mines was moderately active, although it remained even at 16 cents . The company is seeking $72 million in compensation for having lost the right to explore its mineral claims in Strathcona Park on Vancouver Island. After the provincial government refused to “accept or entertain” the claim (which was based on independent reports), Cream Silver said it would begin legal action. The company has held these promising but frustrating claims for 23 years and the story clearly isn’t over yet.
Suntac Resources, which has been getting encouraging results from its Polaris-Taku mine project in northwestern British Columbia was up 6 cents to 75 cents .
After reporting high grade gold assays from its Hasloe mine project in California, Wild Rose Resources climbed 26 cents to $1.15. The company is carrying out an underground program on the former producer.
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