Fortune Minerals, a new issue, saw some trading activity at the 35 cents -36 cents level. Following the recent closing of its initial public offering, Fortune has $425,000 in hand to explore three properties in the Northwest Territories. On its Salkeld Lake property, south of Great Slave Lake, the company hopes to expand a known small tonnage of copper-zinc-gold-silver mineralization. A trench sample taken on the property yielded 9.8 ft grading 2.4% copper, 2.12% zinc, 4.2 oz silver and 0.012 oz gold per ton. Other properties to be explored by Fortune include its Russell Lake claims, where gold-bearing iron formations are the target, and a silver property in the Camsell River silver district.
With several gold exploration projects currently under way in the jungles of Guyana, South American Goldfields was unchanged at 65 cents – 72 cents . SA Goldfield’s partners in the Guyana projects are Denison Mines and Homestake International Minerals.
A drilling program currently under way on Young-Shannon Gold Mines Chester Twp. property in northern Ontario appears to be keeping that issue an active trader at $1.40-$1.65.
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