Gldn. Cresent ahead Alberta Stock Exchange

As reported (N.M., Sept 11/89), surface stripping and sampling were recently completed at Talbot Lake and a 13,000-ft drill program is expected to b egin soon. It will follow up on earlier results which included 24 ft of grade 0.48 oz gold per ton and 7 ft of grade 0.93 oz, according to figures released by Golden Crescent. The Toronto company added 14 cents to its share price this week before clos ing at 64 cents .

Holmer Gold Mines gained 20 cents after discovering a new gold zone in a previo usly unexplored area of its Bristol Twp. gold property, 14 miles southwest of Timmins, Ont.

Operator Chevron Minerals, which is financing a $2.2-million exploration program in return for a 50% stake in the project, cut a 5-ft intersecti on averaging 2. 26 oz gold per ton. The main gold deposit is thought to contain 440,000 tons of material grading 0.15 oz. But mineralization is contained in quartz carbonate veins and the geological setting is complicated. An impressive 22 cents gain was reported by Louisiana Mining which claims to b e processing gold and platinum-bearing sands at its own pilot plant in the Moapa Valley near Reno, Nev.

However, a geologist with the Nevada Bureau of Mines and Geology told The Northern Miner recently that Nevada doesn’t have the geology for platin um.

The Northfield Minerals issue gained 13 cents in response to the approval of an agreement that gives consulting engineering firm Dynatec International control of the Northfield.

Dynatec has agreed to take down a 33% stake in Northfield which is exploring for gold in Ontario’s Larder Lake region.

Pan East Resources, which has been rising steadily in recent weeks, added 10 cents to its share price before closing at $1.55. Pan East appears to be in better shape after placing a number of large share blocks previously held by institutions. Two months ago, Pan East shares were trading at around 30 cents .

What goes up must eventually come down is the only conclusion to be drawn from the trading pattern of Roper Resources. The discovery of some high grade gold v alues at its 50%-owned Red Elephant property in B.C. drove Roper shares up $1.37 But this week, the Roper issue gave up $1.04 before closing at

$1.30.

]]>