Montreal Exchange Orex, Louvem dominate

The Orex results are from cores taken by Onitap Resources on the Goldboro property in Nova Scotia. Although many are skeptical of the assays, which returned grades as high as 0.819 oz gold per ton across 408 ft, investors have snapped up the Orex issue. Almost 3.5 million shares changed hands and the stock reached as high as $3.75 before ending the report period at $2.75, up $1.03 (see story page 1).

Exploration Essor, like Orex, is one of the Morissette group of companies and was another volume leader. Essor rose 8 cents to 18 cents on more than a million shares.

Climbing 60 cents to $2.75 was Freewest Resources of Montreal. Freewest has optioned 45 claims near Upper Seal Harbour, N.S., two miles west of the Orex play. Freewest also holds 27 claims in Vauquelin Twp., Que., near the Aur-Louvem property and three zinc prospects in the St. Lawrence Lowlands.

Meanwhile, Societe Miniere Louvem continues its steady ride upwards. Trading 1.6 million shares, Louvem jumped $2.40 to a new high of $6.75. Rumors abound about the soon-to-be-released results from the fifth drill hole on the Louvicourt Twp. property. The ownership dispute that has dogged the play from the beginning is also reported to be close to a solution.

Riding on the coat tails of Louvem are affiliated companies Monique Explorations and St. Genevieve Resources. Monique was up 10 cents to close at 60 cents and St. Genevieve rose 29 cents to $2.45, a new high. Monique has increased its interest in a gold property three miles from the former Louvem copper-zinc mine in Louvicourt Twp.

MSV Resources posted a gain of 21 cents to close at 67 cents . MSV is sole owner of the Eastmain gold property 190 miles northeast of Chibougamau, Que., and is pushing to bring the mine into production. Reserves at Eastmain are 952,000 tons of proven and probable ore grading 0.35 oz gold per ton. Trading volume was 149,000 shares.

Aurtec Mining was another active issue, up 76 cents to $2.45 on 168,500 shares. Aurtec is operating a tailings project at the Montauban mine near Quebec City where reserves are reported at 300,000 tons of 0.042 oz gold and 2.42 oz silver.

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