Alberta Stock Exchange Soocana secretive

Last week, Soocana advanced by 30 cents on speculation that the Toronto company has found something interesting at a 33-claim gold property 18 km northeast of Wawa, Ont. It added 40 cents this time around before closing at $1 on only 9,000 shares traded.

At press time, spokesman Fred Munger was once again unable to provide full details, of whatever it is that Soocana is working on. “As soon as I get the results, I will give them to you,” he said.

Also making substantial progress was the Pan East Resources issue which gained 35 cents on almost 300,000 shares before closing at $1.10.

Pan East is one of five companies involved in the Fifteen Mile Stream gold exploration project in Nova Scotia. Based on closely- spaced drilling on a number of zones, project operators Gunnar Gold and Mill City have outlined 270,083 tons of grade 0.280 oz gold per ton. Potentially, the Fifteen Mile Stream property could contain two million tons of gold mineralization, according to the operators. Gunnar and Mill City remained steady this week.

Make a significant base metals discovery and the world will beat a path to your doorstep. How else to explain heavy trading of Savanna Resources shares which gained 16 cents on heavy volumes this week before closing at 93 cents on the Alberta Exchange.

Savanna has been active since Aur Resources agreed to earn a 51% stake in the company’s Turner Albright base metal property in southern Oregon. Aur, of course, is better known for the Val d’Or, Que., massive sulphide discovery which has attracted mining heavyweights Teck Corp., Cominco Ltd., and Noranda Inc.

Carlin Gold advanced 4 cents on news that a group of Toronto investors have acquired about 500,000 Carlin shares previously held by NIM and Co. Ltd. Partnership. Earlier this year, Carlin leased two large gold prospects in California’s Mother Lode area to Freeport McMoran Gold Co.

The seesaw ride experienced by shareholders of Borealis Exploration took another jump this week following news that the company is suing NIM Management Ltd. for alleged breach of contract in relation to 674,870 escrowed Borealis shares.

Trading on only 400 shares, the tightly held Borealis issue gained 20 cents before closing at $5.00.

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