Alberta Stock Exchange (July 17, 1989)

It closed at $1 on 23,000 shares after Bryndon announced that it had intersected 7.1 oz gold per ton across 8.4 ft at its 50%-owned Rossland property. Antelope holds the other 50%.

The intersection was encountered in a new zone located at a depth of 150 ft on an untested portion of the structure which hosted the old Le Roi gold mine. The Le Roi produced more than three million oz gold and three million oz silver.

The joint venture has budgeted $1.5 million for exploration at Rossland where the zone extends for a strike length of 360 m.

Borealis Exploration continued an upward spiral that has taken it from $3.25 to $8.00 in the space of less than four weeks. President Rodney Cox has attributed the recent activity to speculation regarding future deals on Borealis properties. Trading on only 54,600 shares, Borealis gained $1.38 this week but there was no new information to support the price increase.

News that Marshall Minerals has acquired 6.5 million common shares of Eden Roc Minerals in the second stage of a 2-stage private placement was sufficient to drive the Eden Roc issue up 10 cents . It closed at 25 cents on a volume of 11,000 shares.

As a result, Marshall holds a 50% stake in Eden Roc and has the right to increase its position to 63%. Marshall will bring its Restigouche base metals property in New Brunswick into production once it has signed a custom milling contract. The Marshall issue was down 14 cents to close at $1.35.

The Sussex Exploration issue gained 8 cents after the company announced that it has the right to acquire a 50% working interest in a 108-claim property near Lac des Mille Lacs in northwestern Ontario. The property is thought to have both gold and platinum-group metal potential and Sussex can earn its interest by paying for an airborne geophysical survey.

In contrast Zahavy Mines lost ground after announcing that Echo Bay Mines has agreed to earn a 50% stake in Zahavy’s Favourable Lake gold property in northwestern Ontario by spending $3.5 million on exploration.

Inferred reserves on the property stand at 960,000 tons of grade 0.26 oz gold and 4.81 oz silver. Zahavy closed down 4 cents at 25 cents .

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