Card Lake Resources continued to make gains, closing at $1.65-$1.70 — up from $1.50 last week. Company President Paul Zyla says drilling has started on Card Lake’s gold property in Harker Twp., east of Matheson, Ont. The drill program will follow up encouraging results from work completed last year. That drilling included a 4.9-ft section grading 0.46 oz gold per ton. With $500,000 in funding, the company plans to drill 10,000 ft.
August Porcupine Gold Mines, which is getting out of the mining field, was up to $1. The company is amalgamating with a U.S. firm which plans to market an automobile starting device. Goldteck Mines gave up some ground to $1.60-$1.70. Goldteck is busy with the exploration of a gold prospect near Matachewan, Ont.
Langis Silver & Cobalt Mining remained strong at $1.60. Langis plans to sink a 1,200-ft shaft at its Cobalt, Ont., silver property. Hardrock Extension was slightly weaker at 90 cents -$1. Hardrock is exploring ground east of the Geraldton, Ont., gold mines which were big producers in the 1950s.
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