MINING MARKETS & INVESTMENT NEWS – WESTERN MARKETS — Argentina heats up as Labrador’s juniors languish

The Vancouver Stock Exchange composite index slipped below the 400 mark, losing 11.27 points to finish the report period ended Nov. 24 at 389.76. The mining index followed suit, dropping 2.1 points to close at 290.88.

The combined value of the Alberta Stock Exchange lost 12.01 points to end the week at 1,776.10.

Argentina Gold captured the spotlight on the Vancouver Stock Exchange. The issue was up 43 cents to $2.59 on further results from its 60%-owned Veladero property in northwestern Argentina. Hole 90 cut 255 metres averaging 6.15 grams gold and 24.5 grams silver per tonne, including 147 metres of 10.25 grams gold and 35.6 grams silver.

Avalon Ventures rose 14 cents to 79 cents. At the company’s Dubenski gold project, a 2,200-metre diamond drill program has begun to test the potential at depth of the Shaft zone. The 12-to-14-hole program will also evaluate a series of gold showings on the East Cedartree property. Both properties are near Sioux Narrows, Ont. Consolidated Westview Resource, which can earn a half-interest in the properties, was up a penny to 16 cents.

Mansfield Minerals was up a dime to 90 cents on results from two surface trenches on the Santa Rosa exploration project in Argentina’s Salta province. Assays from trench TZ-1 ran 28.38 grams gold over 5 metres and 3.9 grams over 3 metres. Trench TZ-2 assayed 19.3 grams over 4 metres and 7.6 grams over 3 metres. The trenches are 50 metres apart, and samples are believed to represent true widths since they were excavated perpendicular to the strike of mineralization. Argentina Gold holds the remaining 50% interest in the property.

Polymet Mining fell 7 cents to 86 cents upon the disclosure of results from the final four holes of a 14-hole reverse-circulation drill program on the Dunka Road polymetallic project in Minnesota. Highlights include 120 ft. averaging 0.37% copper and 0.12% nickel plus 103 parts per million cobalt plus 0.033 gram gold, 0.059 gram platinum and 0.32 gram palladium per tonne in hole 205C. A 155-ft. intersection in hole 208C returned 0.48% copper, 0.14% nickel, 73 ppm cobalt, 0.47 gram gold, 0.106 gram platinum and 0.482 gram palladium.

Donner Minerals and its South Voisey’s Bay joint-venture partners released an update on the past season’s exploration program. Toronto-listed Teck is acting as the general contractor. A total of 14,000 metres of drilling has been completed to date. Only one hole drilled this season had a nickel tenor greater than 2%. Hole 98-131 was drilled on ground held jointly by Donner and Alberta-listed Northern Abitibi Mining, and assayed 4.5% nickel, 2.6% copper and 0.28% cobalt over 0.2 metre. Donner Minerals shed 3 cents at 27 cents, Northern Abitibi dropped 4 cents to 13 cents and Cypress Minerals slipped 2 cents to 12 cents.