Alberta Stock Exchange Jilbey catches the eye

The mover which caught the eye this week was Jilbey Industries, a company which only a month ago was trading in the 60 cents range. The issue closed at a new high of $2.55, up from $1.40 last week. Jilbey has a 25% interest in a 16-claim Fontana property located in the Duverny Twp. near Amos, Que.

A high grade section recently drilled by Bay Resources and Services produced a 9-ft section grading 1.09 oz gold per ton from a depth of 250 ft.

COATS-listed Bay Resources, which held a 75% interest, recently optioned the property to an affiliated private company. However, the deal didn’t affect Bay’s stock quite as much. The Bay issue closed at $3.20, up from $3.05 last week.

Suffolk Resources, which is involved in exploration in the Ivory Coast, showed a strong gain from last week’s $1.95 level. This issue more than doubled to close at $2.90.

Ayrex Resources, which recently completed a deal with Tandem Resources on the Frond Lake, Ont. gold property was also active. The issue doubled from last’s week’s level to close at $1.20. The property contains a modest reserve of more than 200,000 tons.

An agreement with Placer Development to increase its interest in the Courageous Lake, Sask., joint venture seemed to have a limited effect on the share price of Colray Resources. Despite a buyout option on the property which could earn Colray $1.5 million, the issue closed at $1.00, up by 12 cents from last week. As operator, Placer is currently completing a 10,000-ft drilling and exploration program on the property where quartz veins samples yielded up to 0.75 oz gold per ton at surface.

Jerome Gold Mines, which closed at a new high last week of 75 cents , dropped slightly to 70 cents at closing. The company has an option on the former producing Jerome Gold Mine near Gogama, Ont.

Trio Gold Corp. recently entered into an agreement to acquire a 93% revenue interest in 1850 acres in the Slocan mining division of British Columbia. The property has a history of a high grade silver ore production from three formerly productive mines.

However, the agreement seemed to do nothing for the stock.

It dropped by 10 cents to close at $1.10.