Alberta Stock Exchange Northfield active

Northfield has been active since Dynatec Chairman Bob Dengler agreed to purchase a 33% stake in the junior gold explorer and the Northfield issue reached a new high of $1.40 after gaining 20 cents .

Shares of Roper Resources have also been active as investors anticipate the results of a 5,000-ft program at the Red Elephant gold property in Slocan, B.C.

However, disappointing assay results from hole 48 explains why the issue has dropped all the way from $1.60 where it was trading last month to this week’s 64 cents level. While it was designed to probe a sulphide zone at a depth of around 400 ft, the best intersection reported in hole 48 was 5 ft of grade 0.57 oz gold.

Channel samples on the property have assayed as high as 0.77 oz gold over 15 ft and according to a Roper spokesman and officials from Teck Corp., Noranda Minerals and Corona Corp. have visited the property.

Up by 45 cents was the Savoy Minerals issue which closed at $2.25. Savoy recently signed a letter of intent with Castello Resources to drill the Thorn Mineral claims in British Columbia’s Skeena Mining district.

A 100-ton bulk sample extracted from the property recently yielded 200 oz gold but Savoy President Rory Kidd was unavailable for comment on the latest trading activity.

The response to the latest round of drilling results released by Biron Bay Resources from the Summit Gold joint venture in New Mexico was only lukewarm. Biron Bay added 5 cents to its share price, closing at $1.20, after tabling a number of encouraging intersections. They included 107 ft of grade 0.075 oz gold and 12.334 oz silver per ton.

An agreement with NovaGold Resources gives Biron Bay the right to earn a 60% stake in the project in return for spending $1.5 million on a property where 1.28 million tons of 0.1978 oz gold and 19.38 oz silver have already been outlined.

Perrex Resources was unresponsive to news that NIM Resources — 1989 has agreed to subscribe for $500,000 worth of the company’s shares. They are currently trading at 35 cents .

Proceeds of the transaction are earmarked for Perrex’s Harker and Elliott Twp. properties northeast of Kirkland Lake, Ont.

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