Results released by a number of participants in the Vezza-Douay Twp. region of northwestern Quebec have drawn attention to what looks like a promising gold exploration play. While economic gold values have been reported from properties stretching east from Douay, through Vezza, and into Noyon Twp., one of the camp’s major players appears to favor a group of claims held by Northway Explorations (TSE) in Noyon Twp.
Jonpol Exploration (TSE) and President John Pollock’s confidence in Noyon was revealed by a recent transaction in which he and Jonpol increased their holdings in Toronto- based Northway.
In March, Jonpol acquired 22,500 Northway shares for 35 cents to hold 991,492, according to a recent edition of the Ontario Securities Commission’s Insider Trading Bulletin.
Pollock also purchased an additional 9,000 shares of Northway for the same price to hold 150,000 directly and 297,000 indirectly.
The investment looks to be an astute one as Morrison Minerals (TSE), under an agreement with Total Energold (TSE), expects to spend $500,000 to drill Northway’s RJ zone. Predicated on an east-west trending sedimentary contact, RJ has already yielded 16.8 ft. of grade 0.25 oz. gold per ton.
Other mining insiders active in the stock market recently include:
Total Energold (TSE) President Raymond Leeks who bought 2,500 shares for $2.35 to hold 7,500.
Tyranex Gold (COATS) President Joseph Defelice sold 68,000 shares for 40 cents to hold none.
Westmin Resources (TSE) Vice- President Bruce McKnight exercised an option to purchase 3,000 shares for $7.25 before selling them for $8.75 to hold none directly. McKnight also bought 2,306 shares under a plan for $9.50-9.56.
Wharf Resources (TSE) ex- director Robert Lavertu exercised an option to buy 10,000 shares for $5.375. He then sold the shares for $6.625 to hold none.
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