Montreal Exchange Positive trading days

On-going underground exploration at the Donalda gold mine project near Rouyn-Noranda, Que., has returned grades at the 900-ft level of the No 1 vein similar to those of a reserve block assigned to the same vein from earlier surface drilling, partners Minnova Inc. and Syngold Exploration report. A feasibility study is planned for later this year. Minnova gained 50 cents to $22.38 on 2,200 shares, while Syngold moved up 3 cents to 49 cents on a volume of 28,500. Syngold recently announced amalgamation plans with an associated company, TSE-listed International Thunderwood Exploration.

Freewest Resources, which to date has earned a 32% in the Harker- Holloway property just east of Matheson, Ont., says partner Noranda has re-commenced drilling, a follow-up to previous work in which 57.4 ft of 0.17 oz gold per ton was intersected at a vertical depth of 1,250 ft. Trading 68,600 shares, Freewest dropped 11 cents to 91 cents , while Noranda Inc closed unchanged at $25.88 with 383,100 shares changing hands.

A winter drilling program has started up on the promising Eastmain gold property in northern Quebec of MSV Resources, which traded 60,900 shares and slipped 3 cents to $1.11. MSV recently obtained $1.3 million in funding as part of a financial deal with Northgate Exploration, which climbed 13 cents to $6.75 on a volume of 53,600.

Benefitting at the start of the week from a recommendation in a European market letter was gold- producer Belmoral Mines, which traded 131,200 shares, gaining 59 cents to $1.86. Belmoral recently added the Ketza River mine in the Yukon to its growing stable of producing properties.

Mimiska Mining, which moved up 5 cents to $1.05 on 27,800 shares, reported preliminary results from two gold properties in northern Quebec (near Fort Chimo) in which it is earning a 50% interest from Noranda. A drilling program is planned this spring for the projects.

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