Alberta Stock Exchange Argus is prominent

In recent weeks, Argus Resources has figured prominently as investors respond enthusiastically to its massive sulphide discovery near Contwoyto Lake in the Northwest Territories.

While the project is still in the very early stages the Argus issue was the star performer once again. It gained 4 cents to close at 64 cents on a volume of 321,100 shares traded.

A mineral reserve update at Jascan Resources’ Noxon silver/ copper deposit in Montana has also attracted investor interest. However, after gaining 65 cents last week, the issue dropped 34 cents on a volume of 30,700 shares to close at $2.75.

Under an agreement with nim Resources, Jascan says it may receive up to $600,000 in flow- through financing to fund exploration at the Montana Silver venture where reserves stand at 142 million tons of 2.10 oz silver per ton and 298 million tons of 0.78% copper.

San Paulo Explorations has raised $1 million through flow-through financing for exploration at the Leitch gold mine near Beardmore, Ont. With 76,100 shares changing hands, San Paulo added 4 cents to its share price before closing at $1.34. Under an agreement with Teck Corp., San Paulo is spending $3 million over three years to earn a 50% interest in the Leitch property which is thought to contain a potential block of around 240,000 tons of 0.18 oz gold.

Monk Gold remained steady at 95 cents on 33,600 shares following confirmation that narrow gold-bearing quartz veins occur as two zones at Monk’s Rabazo Twp. property near Wawa, Ont.

That was confirmed after Chester Kuryliw, P. Eng., completed 860 ft of drilling to test gold-bearing veins at the property. The best assays from that program include 1 ft of 0.625 oz and 2.8 ft of 0.80 oz.

Goldhunter Explorations gained 10 cents on news that it will acquire two million shares of Yankee Clipper Resources on a 1-for-2 share basis. Trading on a volume of 13,900 shares, the issue closed at 65 cents .

According to Goldhunter, Yankee Clipper holds 10 claims in Vassan Twp., Que.

Hedley-Sterling Explorations was up 5 cents to close at 55 cents on 22,000 shares after receiving permission from minority shareholders to acquire 25 mining claims near Hedley, B.C., and another 26 claims on Vancouver Island.

Hedley-Sterling says assays from 22 chip samples at the 26-claim Trophy property on Vancouver Island showed a high precious metal content with values ranging from 0.328 oz gold to 8.472 oz.

A number of arsenical anomalies were also encountered on the Patsy claims 3.5 km west of Hedley.