They gained a $1 this week on low volumes before closing at $6. As indicated in a lengthy brochure which was issued to the public recently, Borealis is suing NIM and a Vancouver law firm for alleged breach of contract in relation to 674,870 escrowed shares. The shares, which Borealis says it is attempting to recover, represent a 22.8% control block.
The Soocana Explorations issue continues to make progress on news that three gold bearing vein systems have been discovered on the company’s Lucuik claims near Wawa, Ont.
Channel samples extracted from a flat vein system, which strikes east west for 300 ft, assayed as high as 0.619 oz gold per ton over 4 ft and 0.436 oz across 6 ft.
As a result, the Soocana issue has climbed steadily from around 30 cents to this week’s $1.10 level.
Associate company Reed Lake Exploration has also been getting some interesting results at a 19- claim property in the Wawa area near Hawk Junction. According to President George Babcock (who is also President of Soocana), consistently narrow widths of good grade gold values have been intersected on a 300-m quartz vein. Values range from 0.10 oz gold to 0.492 oz over 1 m. Nevertheless, Reed Lake closed down 9 cents this week at 75 cents .
The Champion Gold issue was ahead by 10 cents on news that the company is entertaining proposals for investments outside of precious metal exploration.
Trading on 4,500 shares, the Champion issue gained 10 cents before closing at $4. Champion has a gold property near Placer Dome’s Dona Lake mine near Pickle Lake, Ont., and a base metal prospect in Chibougamau, Que.
Goldcap Inc. remained steady at 45 cents on news that diamond drilling has resumed at the Tas gold property 140 miles north of Prince George, B.C. Black Swan Gold Mines has been brought in to finance Goldcap’s share of cost on a 5,000-ft program, but the latter company can back in for 45%.
The current program is designed to test continuity of gold/copper mineralization in five high-grade sulphide zones identified by earlier drilling.
]]>
Be the first to comment on "Alberta Stock Exchange Borealis gains $1"