Alberta Stock Exchange (February 24, 1992)

Trading 345,000, Trump Reserve Minerals gained 3 cents to 98 cents as Hemlo Gold moved two drills on to the Quill Lake gold property in northwestern Ontario during the week ended Feb. 18. Trump and Golden Tag Resources each has a 25% interest in Quill Lake, while Hemlo holds a 50% interest.

Hemlo plans to drill nine holes, or 1,000 metres, to test several coincident anomalies on the property.

Investors were not so enthusiastic about results from Glencairn Explorations’ Goodfish property in Ontario, nor about some new deals for Glencairn’s subsidiary, Wheaton River Minerals. While Glencairn pulled a 25-ft. intersection grading 0.14 oz. gold per ton from Goodfish, Wheaton announced plans to buy the Ketza River gold mine property and the Grew Creek deposit in the Yukon.

Glencairn closed unchanged at 20 cents.

Gateford Resources emerged as the week’s most active trader, gaining 6 cents to close at 13 cents. Gateford is on the verge of an amalgamation with its subsidiary, Landmark Corp. The Calgary-based company also has a controlling interest in Dominion Explorers, which in turn owns 19% of Joutel Resources. TSE-listed Joutel has been setting new highs lately as investors speculate on results from the company’s copper-zinc property in northwestern Quebec. Losing 5 cents to 42 cents, Takla Star Resources has dropped its option on the AOK project in central British Columbia. Takla says Placer Dome’s decision to write off the Mount Milligan property creates an “unfavorable” investment climate for copper-gold porphyry deposits such as AOK.