Deals and drill results were behind the strong gains made by several issues on the Alberta Stock Exchange this week. Gunnar Gold posted a healthy 40 cents advance to $2.40. The company has acquired a gold property in the emerging Courageous Lake area, N.W.T. The ground adjoins the Getty Resources, Noranda Inc Tundra property where reserves are believed to exceed 6.5 million tons of ore. Goldhunter Exploration which holds more than 200,000 Gunnar shares, also advanced, adding 11 cents to 95 cents . Goldhunter is busy with an exploration program on its Federal- Kirkland property near Kirkland Lake, Ont.
Barron Hunter Hargrave Strategic Resources stayed quiet at 20 cents . The company has completed a sampling program on its gold property in Arizona. A 120 km sample of quartz vein material assayed 23.2 g per tonne or 0.67 oz gold per ton. Silver values averaged 2.9 oz per ton.
The property which was partially developed by previous operators, is believed to have more than 20,000 tons of reserves grading 0.6 oz gold per ton.
Jascan Resources also came up a winner, adding 35 cents to $2.80. The company is performing work on its Pansilver property near Cobalt, Ont. The work has identified four new silver veins which have yielded some strong values. One of the best is 54.2 oz silver per ton across a 5-ft section in the 27 vein.
On the downside, Monte Carlo Gold gave up more than $2 to $5.5. The company is exploring several gold showings on the Caribbean island of Aruba. Shabu Gold is becoming a nightmare to many shareholders who bought high and then saw the issue suspended on April 9. At presstime Shabu was still suspended. The issue soared from 35 cents in February to a high of $12.75 — all on news of poor drill results from an Ontario property. As the issue crashed to the $5 range, the issue was suspended pending an investigation of trading.
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