Alberta Stock Exchange Baslen leads again

For the third week in succession, investors placed their bets on International Baslen Enterprises’ 3,000- acre gold property in the heart of Val d’Or Que.

With established reserves in place and exploration scheduled to begin soon, 557,800 shares changed hands as Alberta’s highest trader gained 32 cents to close at $1.25.

As the volume leader, International Baslen was just ahead of Golden Shadow Resources which traded 543,700 shares to close up 21 cents at 50 cents .

According to Golden Shadow President Elliott Rosenberg, the issue was responding to results of a $2 million program conducted by Noramco Mining on Golden Shadow’s Central Patricia property.

When released, the results are expected to confirm that a No 5 iron formation extends from Highland Crow Resources’ Pickle Crow property onto Golden Shadow ground.

A large block of 207,600 Ekaton Industries shares crossed the floor. However, although Ekaton has successfully raised the first portion of the $1.2 million needed to develop the company’s Kaolin deposit at Wood Mountain, Sask., the issue dropped 14 cents to close at $1.65.

The Durga Resources issue gained 10 cents following news that the Calgary com pany has successfully acquired Terra Mines’ Camsell River polymetallic deposits in the Northwest Territories.

A former mine, the Camsell River property produced 16.9 million oz of silver before it was mothballed. Durga says it will bring the property to production as soon as possible. Trading on 19,000 shares, the issue closed at 80 cents .

While Tusk Minerals recently acquired an option to earn a 50% working interest at a former producer called the Anglo-Rouyn mine in Saskatchewan’s La Ronge gold belt, the Tusk issue lost ground.

Trading on 83,000 shares, it closed down 1 cents at 18 cents . Located about 35 km northeast of La Ronge, the Anglo-Rouyn property contains a tailings pond and gold-bearing mineralization extending northeast along strike from the old mine workings.

The Shiningtree Resources issue gained 1 cents to close at 46 cents on 8,000 shares traded. Shiningtree recently announced a private placement for 500,000 shares at 30 cents per share to finance a stripping, drilling and limited production from the Pet vein at the company’s Churchill Twp., Ont., mining claims.

Under the placement, each share is accompanied by a share purchase warrant entitling the holder to purchase an additional 500,000 Shiningtree shares at 45 cents per share by Dec 31, 1989.