Alberta Stock Exchange Biron gains ground

On an otherwise lacklustre trading session, Biron Bay Resources was the only issue to make any real progress.

Trading on 96,000 shares, it gained 54 before closing at $2.29. much of Biron Bay’s recent momentum has been sparked by Hecla Mining of Canada’s decision to transfer some of its assets into the hands of the Toronto company.

The assets include the Golden Dome property in Sierra Cty., Calif., and the Mooseland gold property in Nova Scotia which is being developed to production.

Although it isn’t listed on The Northern Miner stock charts this week, Bryndon Ventures has been announcing some encouraging results at its Rossland joint venture gold property in British Columbia.

Last month, Antelope Resources which now holds a 50% interest at Rossland announced a series of results including 16.7 ft of grade 0.56 oz gold per ton and 14.5 ft of grade 1.04 oz

The results were pulled from the Evening Star claims which are located within one mile of the old Le Roi gold mine. The famous mine produced over three million oz gold and three million oz silver before closing in 1929. Trading on 31,100 shares, Bryndon closed at $1.60.

Without generating much action this week Bitech Energy Resources has been quietly pulling some interesting results from its Nugget Pond property near Betts Cove, Nfld. They appear to confirm a 500 ft horizon which Bitech says has continued potential at depth.

Highlights of the Nugget Pond program include 10 ft of grade 0.98 oz and 11 ft of 0.30 oz. Trench values also include 29.5 ft of 0.47 oz. The bid-ask for Biteck was 29 to 34 .

The Octan Resources issue was up 5 to close at $1.25 on news that the company has completed the acquisition of Terra Mines’ Camsell River silver mine assets.

Located in the Northwest Territories the Camsell River mine was closed down in 1985 due to low silver prices. But Octan is currently attempting to prove up enough ore to justify reopening the mine.

Despite arranging debt financing to fund its 15% working in Noramco Mining’s Central Patricia exploration project at Pickle Lake, Ont., Golden Shadow Resources dropped 2 to close at 12 .

Significant gold reserves are reported to exist in the footwall iron formation at the Pickle Crow area and recent samples have returned a number of results including 3 ft of 0.66 oz.