Shares of Gold Vessel Resources jumped 35 cents to $1.05 in the week ended June 26 after the company released assay results from underground channel sampling at its Gold Eagle mine in Arizona. The mine forms part of the Harquahala project situated about 100 miles west of Phoenix. Channel sampling on the main level of the mine yielded an average assay of 0.055 oz. gold per ton from 155 samples. The company says it has been approached by several majors interested in acquiring a joint venture interest in the project. Another company working in the Western U.S. is Biron Bay Resources. It traded 104,400 shares for a gain of 18 cents during the report period, and closed at $1.18 on the week. Biron Bay is exploring the Summit gold project in New Mexico where reserves are currently estimated at 800,000 tons grading 0.177 oz. gold per ton.
Trading a volume of 381,000 shares was Dingman Industries which closed 5 cents higher at 26 cents. This Alberta junior recently signed a letter of intent with a Soviet agency to develop a plan for treating arsenical gold concentrates produced in Kazakhstan, the USSR’s leading gold producing republic. If successful, Dingman will act as lead foreign partner in establishing the treatment plant. The junior would be paid in gold bullion.
Benefiting from strong zinc prices in the base metal sector, Bonanaza Metals tacked on 5 cents to its share price of 45 cents during the report period.
Stratabound Minerals was also better by 10 cents with a closing price of $1.80. Stratabound is exploring various base metal properties in New Brunswick’s Bathurst camp.
Cradle Mountain Canada traded 273,000 shares for a gain of 1 cents before closing at 32 cents. The company recently acquired the Kitch mineral claims in the Cranbrook area of southern British Columbia. The claims cover a unit of the Aldridge geological formation which hosts the Sullivan lead-zinc- silver orebody. The optioned ground adjoins claims of the Barkhor/ Kokanee joint venture where drilling is currently under way.
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