COATS (over-the-counter) Costigan cuts lead-zinc

Continuing its upward march, Costigan Gold gained another 5 cents for the week ended Oct. 16 as the company announced a base metal discovery 200 km southwest of Bathurst, N.B. All four holes drilled on the Sewell Brook property intersected a lead-zinc zone (up to 10.7% zinc over 14.5 ft.), while one intersected 33 ft. grading 3.72% copper. Costigan, earning a 40% interest in the property from partner NovaGold, closed at 60 cents on a volume of 186,200. Anticipating an end to a 4-year lawsuit with Teddy Bear Valley Mines over ownership of five claims in Holloway Twp., Ont., Card Lake Resources may be looking to option the prospective property to the highest bidder. The Freewest gold deposit, a few miles to the west, plunges toward the Card Lake claims. Card Lake was 10 cents bid, 20 cents ask on the week. Trading 5,000, Teddy Bear remained unchanged at $1.25.

Using a recovery process developed at Force Resources plant in Nevada, Assayers Ontario has been able to extract an average 1.2 oz. gold per ton from samples collected at the Moapa Valley precious metal sands project. Force, which owns a 10% interest in the Nevada project, dropped 10 cents to 30 cents on a volume of 5,100. The company called the recovery advances “tantamount to a technological breakthrough.” Cochise Resources, which is spending $1.25 million to explore 840 sq. km of land surrounding Windy Mountain Explorations’ copper property north of Chibougamau, Que., jumped $1 to $3.50 this week on a volume of 119,850. Windy gained 55 cents to close at $2.80 on 10,600 shares. Management was unavailable for comment.