COATS (over-the-counter) Montrose speculation

Speculation on results from a 3-hole drill program at Montrose Gold’s 10-claim prospect in Montrose Twp., Ont., sent the junior’s share price soaring to 80 cents, up 30 cents from last week’s close on a volume of 425,425. Montrose President Gordon Wilton said results from the shallow holes are still coming in and will not be released for at least a week. Mineralization at the Matachewan-area property has been compared to that of the Kerr Addison gold mine. Planning a new exploration program at the MacLeod Lake property north of Chibougamau, Que., Windy Mountain Explorations has raised $706,250 through a recent private placement. Windy hopes to delineate and expand on a preliminary reserve estimate of 30 million tonnes grading 0.48% copper. Trading 3,250, Windy closed at $3, up 50 cents on the week ended Oct. 2.

Results from a 4-hole drill program at a gold property near Red Lake, Ont., have failed to confirm the presence of significant gold- bearing zones for property owner Laverty Red Lake Resources.

Laverty will delay further drilling until the local mineralization is better understood. Laverty remained unchanged at 20 cents on a volume of 300.

As anticipated, Portfield Industries is changing its name to Canmine Resources, and will continue to initiate projects at its base and precious metal properties under the new name. Trading 55,000, Portfield shares closed up a penny to 5 cents.