Vancouver Stock Exchange Bullish sentiment to gold market

Activity on the Vancouver Stock Exchange is beginning to pick up steam as junior companies prepare for the coming work season by arranging financings, making property acquisitions and sewing up joint venture agreements. Gold prices are holding steady and the market is becoming increasingly bullish on precious metal exploration and development projects. In particular, brokers here expect a busy summer for British Columbia’s “Golden Triangle” — the mineral-rich area encompassing the Iskut, Eskay, Sulphurets and Stewart mining camps. The region in central British Columbia surrounding the Mt. Milligan gold-copper project is also expected to be among the most active in the province this year.

Midway through today’s session, Feb. 14, the VSE index was down 4.03 points in light trading to 736.33, an increase of 13.65 points from a week ago.

Suntac Minerals was the most active issue for the week ended Feb. 13, up 16 cents to 76 cents . The company is exploring a former producer in northwestern British Columbia, the Polaris-Taku gold mine.

Recent drilling on the property is reported to have extended the C vein mineralization to at least 500 ft. below the previous mine workings on the 600 level, with the mineralization open at depth and along strike. The C vein is one of three vein systems that produced over 231,000 oz. gold from Polaris-Taku during its production years from 1938 to 1951.

Pine Channel Gold slipped 9 cents to 41 cents after partner Northair Mines reported some generally disappointing results from a drill program on the joint venture Deception Lake polymetallic prospect in Saskatchewan.

Seven Mile High Group also lost ground this week, off a further 71 cents to $1.59. Inco Gold is continuing surface exploration on the company’s Vault gold project near Vernon, B.C.

Investors are continuing to show interest in Prime company Akiko- Lori Gold, which is involved in an interesting gold property in Ontario being drilled by Noranda. The issue gained 40 cents to reach $4.

Silver Princess Resources moved up a nickel to 69 cents . Paul Dupras and Alex Briden, individuals associated with the company, recently notified Adrian Resources that an option agreement for a 50% interest in the DUP claims, north of Calpine’s Eskay Creek discovery (north of Stewart, B.C.), is terminated. Adrian served notice to Dupras and Briden that they must withdraw their termination notice by Feb. 16 or face legal action.

Mollie Gibson Mines moved up 8 cents to 23 cents . The company has mineral projects near Rossland, B.C., in the Eskay Creek region, and in Oregon and Colorado.

Clipper Minerals is holding at 57 cents after announcing results from a recent overburden drilling program at its Stormy lake project in the Rice Lake belt of Manitoba, a joint venture with Revere Resources. Clipper said five targets were identified that are viewed as showing geological similarities to other mines in the belt. A drill program is expected to begin shortly to test all of the target zones.