Alberta Stock Exchange Baslen active (April 17, 1989)

While Baslen Treasurer Andre Dorfman doesn’t know if they liked what they saw, investors are obviously expecting drill results to be encouraging. With 313,400 shares changing hands this week, the Baslen issue gained 5 cents before closing at 80 cents .

The first assays are coming in from Val d’Or but Dorfman said no results would be tabled until a full report is compiled by the company.

Adding 20 cents to its share price was Goldcap Inc. which has the right to earn a 50% stake in Noranda Inc.’s TAS property near Fort St. James in British Columbia by spending $1 million.

Goldcap is currently attempting to work out a deal with Black Swan Gold Mines of Vancouver which would allow Goldcap to earn its 50% interest by the end of this summer. Under consideration is a deal in which Black Swan would spend $600,000 and later allow Goldcap to acquire Black Swan stock.

The joint venture says it will attempt to prove up enough ore this year to support a 200 ton-per- day mill and a production rate of about 35,000 oz annually.

Zenmac Zinc was still absent this week from the Alberta listings following a halt trading order which was placed on the issue, March 21. The halt trading order was issued after shareholders complained that warrants which expired on Dec 31 weren’t being redeemed on a timely basis.

“We will leave it off until we are sure everything is fine,” Tim Daly the exchange’s manager of market surveillance told The Northern Miner recently.

Nathan Minerals, which recently announced results from a fall drilling program at its Pro and Anne claims 11 km north of Yellowknife, N.W.T., didn’t trade this week.

After pulling 2.3 ft of grade 1.42 oz gold per ton, Nathan says it may have intersected the upper edge of an auriferous stratigraphic zone which also contains arsenopyrite and pyrrhotite. The 2.3 ft intersection lies on strike and in the same stratigraphic interval as a 3.2-ft intersection grading 0.70 oz drilled earlier in 1988, Nathan says. The bid on the Nathan issue was 85 cents , the ask 94 cents .

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