Montreal Exchange Bad news for Wrightbar

The week ended July 16 brought bad tidings for junior explorer Wrightbar Mines. Feeling the effects of a down market, St. Genevieve Resources has decided to drop its option on Wrightbar’s copper-zinc property near Val d’Or, Que. The decision marks the end of a 2-year partnership and an intensive deep exploration play. Word has it that Wrightbar’s geological reports are now in the hands of Aur Resources, which is expected make an option decision by the end of the month. Trading 114,600, St. Gene-vieve lost two cents to close at 87 cents while Wrightbar closed unchanged at 10 cents. Further north at the Jonpol-Amos base metal project in Dalquier Twp., Aur has hit what it thinks could be a new zone. Hole 6801, collared to test depth extensions, hit a 456-ft. interval grading 0.24% copper, 600 ft. below the Main West copper zone. A stepout hole to the east also hit mineralization grading up to 0.37% zinc. Aur, planning a follow-up program for the property, closed unchanged at $3.50. Greater Lenora Resources picked up 10 cents to 70 cents after signing a letter of intent with Noranda Exploration. Under the terms of the letter, Noranda can earn a 60% interest in Lenora’s Omega property. Sliding six cents to 54 cents, American Reserve Mining released mixed results from three more underground holes on the Paymaster gold project at Timmins, Ont. The Vancouver-based company, in partnership with Placer Dome, is outlining a deep, high-grade zone at Paymaster which could feed Dome mine. Amid rumors that it may be a takeover target, Golden Knight Resources lost 75 cents to close at $12.50 on thin volume. Golden Knight and partner Inco Ltd. are currently in the midst of an expansion program at the Casa Berardi mines, where annual production is expected to increase to 115,000 oz. this year.