Alberta Stock Exchange Louisiana moves up

Having built a large production facility at its MMV No 1 gold property in Glendale, Nev., Louisiana is preparing to bring the property into production in the near future.

Reserves at the Glendale property stand at 6.9 million tons of grade 0.069 oz gold per ton and the stripping ratio has also been estimated at 0.8 to 1. But according to Chairman Cade Harvard, the grade is actually much higher and the strip ratio will eventually be even lower.

As indicated by the 17 cents increase in the share price of Savanna Resources, investors are intrigued by the company’s Turner Albright polymetallic property in southern Oregon.

Much of the interest in Savanna has undoubtedly been sparked by a joint venture deal which could see Aur Resources earning a 51% stake at Turner Albright where reserves stand at 3.3 million tons of grade 1.46% copper , 3.32% zinc, 0.44 oz silver and 0.114 oz gold. Trading on 513,000 shares, Savanna closed at 75 cents .

Judging by the small increase in the share prices of New Texmont Explorations and Gowest Amalgamated Resources, investors may not be aware that the two companies could be onto something significant at their Tully Twp., property near Timmins, Ont.

J.P. Sheridan group member New Texmont has earned a 50% stake in the Gowest property by spending $400,000 to drill a gold bearing structure known as the Frankfield zone. If rumors prove true, New Texmont will soon release a number of wide drill intersections with values ranging as high as 0.3-0.4 oz gold.

New Texmont gained 5 cents before closing at 25 cents while Gowest was up 15 cents to close at 30 cents . The bid on the Frankfield Explorations issue, which holds an 18% stake in the Gowest property, was 10 cents and the ask 18 cents .

The Glencairn Explorations issue performed strongly following news that a financial backer is willing to put the $800,000 needed to extract diamonds from the Feijao Cru deposit in Brazil.

According to Glencairn, a private placement for a minimum $800,000 and a maximum $1.32 million(US) has been arranged with a Brazilian Bank. Glencairn has an option to earn a 50% stake in Mineracao Piracicaba, a Brazilian company which owns the 425,000 cu m deposit.

A bulk sample of 540 cu m returned 669 carats, for an average grade of 1.24 carats per cu m, said Glencairn, which was up 13 cents to close at 69 cents .

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