Rivals Card Lake Resources and Teddy Bear Valley Mines will meet in court on Sept. 3 to settle a property dispute over Card Lake’s 5-claim property near Matheson, Ont., says Teddy Bear. Until then, Card Lake is free to explore the highly valued claims, which lie on the eastern edge of the Freewest- Noranda gold project. The Toronto- based junior recently raised $20,000 through a private placement. Trading 21,000, Card Lake lost 1 cents to close at 40 cents for the week ended Jan. 15. Teddy Bear closed down 5 cents at $1.55 on a volume of 2,000.
Taking a 50 cents leap to close at 70 cents on 19,500 shares, Regal Goldfields picked up nine claims over a kimberlite pipe northeast of Kirkland Lake, Ont. Regal plans to sample the kimberlite, which is reported to have yielded two diamonds weighing 0.08 carats and 0.17 carats respectively.
An agreement between Freewest Resources and Mint Gold Resources will revive exploration on a 59-claim base metal property in Northumberland Cty., N.B. The partners plan to drill the property in order to earn a 100% interest. Trading 26,000, Mint Gold gained 5 cents to close at 60 cents.
Reacting to rumors of a wide base metal intersection on its joint venture project near Matachewan, Ont. Strike Minerals traded 250,000 shares to close unchanged at 45 cents.
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