COATS (over-the-counter) Copperquest firm

Copperquest, the first junior mining company to complete a financing in 1990, is now trading in the 23-25 cents range. The financing, done at 21 cents , involved about 1.5 million shares of Copperquest with proceeds going to explore the company’s Knife Lake copper property in northern Saskatchewan. One previous drill hole on the claims yielded 35.5 ft. of 2.3% copper within a section of 132.5 ft. of 0.91%.

A good drill hole released this week by Card Lake Resources from its Harker Twp., Ont., gold property helped that stock gain 5 cents to close at 40 cents . American Barrick has an option to earn a 100% interest in claims, with Card Lake retaining a production royalty.

Black Gregor Explorations was active in the 51-64 cents range with the close at 64 cents , a gain of 12 cents for the period ended Jan. 30. President Robert Platt told The Northern Miner a few senior mining companies are looking at results from recent drilling on Black Gregor’s property, 10 miles north of Marathon, Ont. Previous drilling cut a 7-ft. intersection of 0.22 oz. gold per ton and another 7.5-ft. interval of 0.24 oz. in hole 7. Assays from stepou t holes are awaited. Platt said the gold intersections came from silicified tuffs, and visible gold has been noted in the core. Re-assaying has confirmed a nugget effect in other holes, he added.

Shares of First Canadian Gold were active in the 70-75 cents range, posting a gain of 2 cents by the close of this week. There were five trades in the First Canadian issue. The company is controlled by James Gill of Aur Resources.