Alberta Stock Exchange Durga begins work

Trading moderately during the week ended June 25, Durga Resources said it is proceeding with exploration on the Chiquita mine property near Sandy Valley, Nev. The first program, which includes mapping and rehabilitation of the existing mine shafts and adits, is part of a $500,000, 3-phase program. The Chiquita mine produced an estimated 50,000-75,000 oz. gold before closing in 1946. Durga closed unchanged at 50 cents.

Newly listed on the exchange is Windy Mountain Explorations. The junior exploration company, which used to trade on the Canadian Dealing Network, has a 263-claim copper-molybdenum prospect in northern Quebec. Known as MacLeod Lake, the property is estimated to contain reserves of 40 million tons averaging 0.44% copper and 0.05% molybdenum.

TerraGold Resources will have a new controlling shareholder if an agreement between Jascan Resources and TerraGold president G.W. Felderhof goes ahead. Felderhof has agreed to buy more than one million of Jascan’s 1.9 million TerraGold shares for $127,000. TerraGold closed unchanged at 10 cents.

To replace a previously announced common share placement, Pacific Metals is proposing a private placement of 1.4 million special warrants at $1 each. Trading 200,500, Pacific gained a penny to close at $1.00.