Just about every junior with ground between Yellowknife, N.W.T., and the Lupin gold mine traded close to its yearly high during the week ended March 24 as several truckloads of bulk sample were shipped out of the Dia Met-BHP diamond discovery area.
Most of the market activity centred around Argus Resources, which doubled to 52 cents on a volume of more than one million shares. The Calgary-based junior has a sizable piece of ground about 50 miles northeast of the diamond discovery.
Other investor-pleasers with property near Lac de Gras were BRE-X Minerals, up 13 cents to 30 cents; Horseshoe Gold, up 5 cents to 75 cents; Tanqueray Resources, up 10 cents to 40 cents and Troymin Resources, up 2 cents to 9 cents.
The 200-ton bulk sample will be processed at Dia Met’s diamond recovery plant just outside of Fort Collins, Colo. Results should be released by the end of May.
Shedding 2 cents to close at 18 cents, Kingswood Explorations reported lacklustre results from its Eastmain gold property in northern Quebec. The junior explorer hit three mineralized zones on the property, the best intersection being 6 ft. of 0.13 oz.
A cash takeover bid has been made for 750,000 escrowed shares and not less than 650,000 non-escrowed shares of Mesa Resources. The offer, 1 cents for each escrowed share and 15 cents for each non-escrowed share, has been mailed to all registered shareholders.
Mesa lost 3 cents to close at 6 cents on thin volume.
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