Vancouver — Canada’s junior exchange posted modest gains on all indices amid a high volume of trading. The Canadian Venture Exchange composite index closed the week ended Oct. 2 up 58.26 points, or 2.1%, at 2827.29. The mining index followed suit, adding 134.93 points to its value, or 1.9%, and finished at 7,183.31.
Masuparia Gold was the week’s volume leader, with 3.9 million shares traded. The junior tacked on 2 to close at 11. The company is in the midst of a 1,000-metre drill program over the Greywacke property north of La Ronge, Sask. Results from the first hole returned 4.14 metres grading 22.92 grams gold, starting at 120 metres down-hole.
IBI closed flat on a volume of 4 2.8 million shares. The company’s wholly owned subsidiary, Canmin Resources, is producing vermiculite at a mine in Uganda, close to the Kenyan border.
Cantex Mine Development added 2 to its value and closed at 7 on a volume of 2 million shares. The Charles Fipke-led company got a boost after Citation Resources, its joint-venture partner in Greenland, cut one large kimberlite body during a recently completed 1,000-metre drill program. Citation lost 2 to end the week at 8.
Montello Resources lost 2 and closed at 14 on 1.9 million shares. The company is performing geochemical sampling on the Lempriere and Pipeline properties in southeastern British Columbia. The program will be used to define the potential for tantalum-rich carbonatites on the two properties.
Poplar Resources continued to lose ground ahead of drill results from the Bottenbacken polymetallic project in Central Sweden. The company lost 1 and closed at 23 on the exchange of 1.8 million shares. The company’s 65%-owned subsidiary is drilling the third of a planned 20-hole program.
Augusta Resources recently resumed trading after reinstating its transfer agent services. The company’s issue jumped 3 and closed at 4 with 1.4 million shares changing hands. The junior holds an interest in the Blue Moon base metal property in California.
TNR Resources flat-lined at 9 with just over 1 million shares traded. The junior recently inked a deal with New Brunswick-based Crystal Gold Resources to earn a 25% stake in the Spring project by spending $50,000.
Inca Pacific Resources ended the week unchanged at 18 on a volume of 940,000 shares. The company’s partner at the Magistral copper property in Peru just completed a drill program, while, to the north, another partner is in the midst of a 5,000-metre drill program on the Cueva Blanca gold joint venture.
Excellon Resources closed at 31, up 2 on a volume of 817,000 shares. The junior has resumed exploration and is gearing up to drill the Platosa-Saltillera base metal property in Mexico’s Durango state.
A nice percentage mover, Copper Ridge Explorations gained 4 to close at 8 on 714,000 shares. The company announced a positive due diligence sampling program over the Kalzas tungsten-tin-silver property near Mayo, Y.T. Tungsten values in a large stockwork porphyry-style setting were confirmed.
War Eagle Mining managed to tack on 3 and close at 12 following the exchange of 617,000 shares. The junior holds a stake in the Mac tantalum property in the Yukon. Initial results from channel sampling over mineralized dykes are expected shortly.
Quaterra Resources closed up 2 to 22, with 614,000 shares traded. The company got a boost on news that platinum-palladium mineralization was discovered on its Duke Island property in Alaska.
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