As the price of gold continues to bounce around, so do the prices of several junior gold explorers. Posting a gain of 7 cents for the week ended Jan. 23 was Carolin Mines. That company is exploring the former Ladner Creek gold mine near Hope, B.C. There were 19 trades involving the Carolin issue which closed at 68 cents on a volume of 135,300 shares.
Also active was Gold Bar Resources with trading in the $1-1.15 range. A total of 20 trades left that stock unchanged at $1.05. A final feasibility study on the company’s gold property in Chester Twp., Ont., is expected later this year. Multiple high-grade gold zones have been outlined by earlier drilling.
Card Lake Resources and Teddy Bear Valley Mines, two companies active in the Harker- Holloway gold camp near Matheson, Ont., saw some light trading volume for the week ended Jan. 23. Shares of Card Lake advanced by 2 cents to close at 35 cents after five transactions, while Teddy Bear was better by 5 cents closing at $1.25. More drill results from these two companies’ projects are awaited.
After two years of dormancy, Lithium is being reactivated and will team up with Noranda Exploration on a remote gold property in the Oxford Lake area of northern Manitoba. The junior company can earn a 50% interest in the Noranda property by spending $5 million over four years. The claims contain iron-formation hosted gold showings. Lithium shares last traded at the 15 cents level.
New Athona Mines gained 7 cents to close at 22 cents after five transactions. The company is exploring gold prospects at Lake Athabaska, Sask.
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