Alberta Stock Exchange Baslen active (May 09, 1988)

Some of the big traders of recent weeks were active once again as Ottawa offered a lifeline to junior exploration companies by extending the present flow-through financing system until the beginning of next year.

However, time will tell if a new Canadian Exploration Incentive Program will prevent the small fry of the mining world from being gobbled up by the bigger outfits.

Meanwhile investors continue to like the International Baslen Enterprises issue which reponded once again to news of exploration at its 3,000-acre gold property in Val d’Or, Que.

With 321,500 shares changing hands, the issue gained 30 cents to close at $1.50.

A big trader last month, Argus Resources has been quiet of late despite the recent publication of drill results from its Esker Lake property in the Northwest Territories. Trading on 69,100 shares, it gained 2 cents to close at 69 cents .

Intervals of 2 ft to 4.5 ft assayed up to 0.17 oz gold per ton, said Argus President Michael Duggan. “Sulphide mineralization typical of Contwoyto Lake gold occurrences and Echo Bay Mines’ Lupin mine were intersected in all 13 holes,” he said.

Casamiro Resources continues to trade heavily on an expected resumption of operations at the Sherwood mine gold property on Vancouver Island. With 192,100 shares crossing the floor, Casamiro was up 15 cents to close at $1.15.

News that another Vancouver company led by stock promoter Murray Pezim will earn a 50% interest at the Opapamiskan Lake property where Power Explorations and Moss Resources are 75-25% joint venture partners, did little for the Van Horne Gold Resources issue.

It dropped 4 cents to close at 35 cents on only 500 shares traded. Van Horne recently amalgamated with Moss Resources to form a new company called Moss Resources Ltd.

With the Pezim deal in the bag, Moss Resources Ltd. will attempt to raise between $15 million and $20 million for exploration on a number of Pickle Lake, Ont., properties.

Drilling has resumed at the Iris Gold claims at Harker-Holloway, Ont., where Alberta Gold Exploration (55%) and Perrex Resources (45%) are involved in a joint venture. With an open pit mining operation in mind, the partners are probing a large syenite intrusion where 348,393 tons grading 0.09 oz gold in near surface reserves have been outlined.

Trading on 18,000 shares, Alberta Gold closed down 3 cents at 70 cents . The Perrex issue remained steady at 85 cents .