Montreal Exchange Aur drill results

After a 4-month drilling period during which five holes successfully cut the Aur horizon of the Louvicourt project in northwestern Quebec, Aur Resources and Societe Miniere Louvem reported their large copper-zinc-gold massive sulphide deposit has a shallower plunge than previously thought. The deposit does, however, remain wide open down-plunge to the east. Much more exploration work is still to be completed by the project partners who are locked in an ownership dispute in the courts over the property. For the week ended Feb. 27, Aur traded 36,400 shares and slipped 88cents to $10, while Louvem dropped $1 to $6 on 102,300 shares.

The market generally had an off week, with the market portfolio losing almost six points and the mining and minerals index dropping more than 63 points. Daily trading volumes were encouraging, ranging between 5.6 million and 8.3 million shares.

Aur was also in the news because of a deal struck with Belmoral Mines. Through a share purchase, Aur will become Belmoral’s largest shareholder and has the right to purchase a controlling interest. Aur is now a small gold producer; Belmoral is processing the Aur ore at its Val d’Or, Que., mill. Belmoral gained 2cents to 64cents on a volume of 349,600.

Keen interest continues in the Douay gold project in Casa Berardi of Inco, Societe d’Exploration Miniere Vior and Cambior. Assays from the discovery hole were announced two weeks ago; results from subsequent holes are expected at any time. Trading 151,000 shares, Inco closed unchanged at $27.88; Vior jumped 8cents to $1.98 on a volume of more than three million shares; and Cambior fell $1.63 to $17.13 with 206,000 shares changing hands.

Audrey Resources is undertaking a new surface drilling campaign, representing 10,000 ft., to test an anomaly at its Mobrun property northeast of Rouyn-Noranda, Que. Trading 50,900 shares, Audrey dropped 4cents to $2.75.