Taking a big hit on the market for the week ended July 2 was Perrex Resources. Trading over four million shares, the junior gold explorer lost three quarters of its value to close at one penny. Although Perrex could not be reached for comment, Teck’s vice-president of eastern exploration, Barry Simmons, said Teck has just started a 5,000-ft. drilling program on the Perrex property in the Harker-Holloway gold camp of northern Ontario.
Gaining eight cents to close at 68 cents, Golconda plans to process six 25-ton bulk samples at its Goldridge mining and milling operation in Oregon. Recent drilling into the high-grade zones at the site has returned one 20-ft. interval grading 0.60 oz. gold per ton. The bulk mining and milling program is expected to establish the average grade of the orebody, where gold mineralization is concentrated within fracture intersections.
Taking a stab at the manufacturing business, Dunfrazier Gold Explorations has signed a letter of intent with Interlock Steel Structures. Under the terms of the letter, Dunfrazier would acquire all of the issued and outstanding shares of Interlock for $2 million (800,000 Dunfrazier shares at 25 cents per share). Dunfrazier closed unchanged at five cents.
Takla Star Resources has acquired one 28-claim group and one 100-claim group next to its AOK property in the Mt. Milligan area of northern British Columbia. Takla, which recently completed geophysical surveys on AOK, lost four cents to close at 70 cents.
Storimin Exploration, with a 50% interest in the Moss Lake gold property west of Thunder Bay, Ont., lost two cents on a volume of more than one million shares. President Al Storey could not be reached for comment.
Be the first to comment on "Alberta Stock Exchange Perrex plummets"