Drilling of Freewest Resources’ Benoit Twp. property near Miquelon in northwestern Quebec continued to return wide widths, the company reported. For the week ended Feb. 19, shares of the junior rose to $4.40, up by 95 cents, on 515,100 shares. A 162.5-ft. intersection from hole 91-7 is reported to have averaged 0.15 oz. gold per ton. Trading volumes during the week ranged from 5.7 million to 10.8 million shares. The market portfolio slipped by 5.1 points, while the mining and minerals index was off by 9 points.
In January, the ME enjoyed increased overall activity compared with the previous month, including a small rise in its share of the Canadian market for value traded. While total monthly value, the average price per share and the number of trades increased in January, the average daily volume dropped slightly.
Agnico-Eagle reported the completion of 61 holes at its newly discovered Eagle West zone situated just west of the the company’s Eagle gold mine shaft at Joutel, Que. Two surface drills are at work; at least one underground drill will be mobilized temporarily. Agnico closed unchanged at $5.75 on a volume of 67,900 shares.
Drilling is underway in Douay Twp. in northwestern Quebec on Northern Abitibi Mining property being optioned by Inco and Societe d’Exploration Miniere Vior, the ASE-listed company reported. Inco, the operator, is drill testing an area northwest of the Douay West gold zone uncovered by Inco and Vior on adjacent property. Trading 176,500 shares, Inco gained 38 cents to $36.63. Vior dropped 6 cents to 53 cents with 135,300 shares changing hands.
A subsidiary of La Fosse Platinum, Hollinger North Shore Exploration, has shipped an 8,000-tonne sample of manganese ore from the Schefferville region of Quebec to a Montreal area ferro-manganese furnace for metallurgical testing. La Fosse, which closed unchanged at 13 cents on 1,700 shares, is hoping a sales agreement for its mineral is not long off.
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