Alberta Stock Exchange Argus a big trader

Despite a recent drop in the price of gold bullion, a couple of Alberta gold issues were big traders this week.

After a recent lull in investor interest, Argus Resources posted a volume of 400,200 — the day’s second highest — to close up 4 cents at 79 cents . Argus recently discovered a massive sulphide deposit at its Contwoyto Lake property in the Northwest Territories.

While the project is still in its early stages, it has attracted a lot of attention on the Alberta Exchange.

Suffolk Resources also traded heavily and with 229,200 shares changing hands the issue gained 10 cents to close at 40 cents .

Among a portfolio of placer gold projects, Suffolk is developing a gold mining lease on West Africa’s Liberian/Ivory Coast border. With 100,000 cu m grading 2 grams per cu m ready to be mined, the company is preparing to go into production.

Partners Bay Resources and Jilbey Industries recently released some encouraging results from the Fontana gold property at Duverny Twp., Que., where they are spending $9 million to establish reserves above 275 ft.

While bulk sampling has produced (up to 0.256 oz gold per ton across 6 ft) and channel samples (up to 19.25 oz across 5 ft) the partners say more bulk sampling is needed to determine the grade of the deposit.

Despite this news, the Jilbey issue dropped 19 cents to close at $2.90 on 1,000 shares traded. Bay was down 21 cents to $1.03 on a volume of 3,500 shares.

The Ekaton Industries issue was more responsive to news that Esso Minerals will acquire 17.9% of a 65% option interest in the Wood Mountain Kaolin project by pre- funding the project.

With 73,100 shares changing hands, it gained 15 cents to close at 85 cents .

According to Ekaton, the funds will be used to finance a pilot plant which will process 5,000 tons of stockpiled ore.

Perrex Resources says it has executed an option agreement to earn a 100% interest in a 50-claim property which is contiguous to Perrex’s Iris gold property where the company is involved with Newmont Mining of New York.

Perrex says it can earn its interest in the Holloway Twp. property by making payments totalling $500,000 to Hanson Larche or the equivalent in stock.

Trading on a volume of 12,000 shares, the Perrex Resource issue dropped 2 cents to close at 92 cents .