Alberta Stock Exchange Gowest gains 16 cents

Several junior exploration companies with interests in gold properties in northwestern Quebec made significant gains during the week ended Feb. 13. Gowest Amalgamated tacked on 16 cents to its share price before closing at 47 cents on volume of 241,500 shares. That issue was helped along by encouraging assay results reported this week by the Inco-Vior-Cambior joint venture in Douay Twp., northeast of Joutel, Que.

Gowest has a block of 28 claims in the area, as well as an option to earn a 50% interest in another 121 claims in Douay and Vezza twps. Noranda has approached Gowest regarding the claims. Drilling is also under way on Gowest’s Tully Twp. gold property, near Timmins, Ont. About $200,000 has been spent on the Tully project since September, but no new results are available.

Trading a large volume of more than half a million shares was Kingswood Explorations which closed at 57 cents , for a gain of 7 cents on the week. Strong results have been reported from the company’s Devon property optioned from Dalhousie Oil in Beatty Twp., Ont. High- grade values announced this week include 0.40 oz. gold per ton over 5 ft., 0.99 oz. over 6 ft., and 2.9 oz. over 6 ft. from three recent holes in a 5,000-ft. program.

Northern Abitibi Mining moved ahead by 55 cents to close at $1.05. This company has shared interests with Golden Rule Resources in a group of 137 claims near the Inco- Vior gold discovery in Douay Twp. An exploration program to outline potential drill targets is planned for the claims.

The shares of Naxos Resources advanced by 29 cents to close at $1.44 on volume of 342,100 shares. The company is conducting a $100,000 drilling program on a gold property it acquired from Ashley Resources in Inyo Cty., Calif.

Golden Crescent Resources was steady at $1.75. The company is planning a $1.8-million rights offering, the terms of which will be disclosed upon approval by regulatory authorities.