Montreal Exchange Bulk test at Francoeur

Early results from a 33,500-ton bulk sample at the Francoeur gold property near Rouyn-Noranda, Que., have partners Rouyn Mining Resources and Lac Minerals excited. The bulk sample should be finished by May, and then a feasibility study, with a mid-June due date, is planned. Rouyn traded 85,500 shares and gained 5 cents to $3.85, while Lac jumped $1 to $14.63 during the week on a volume of 143,800.

Continuing its slow recovery, the Montreal Exchange experienced better daily trading volumes (mostly in the 6-to-7-million-share range) this week. The mining and minerals index showed a gain on the week, as did the market portfolio.

Announcing plans to extract a bulk sample, from the Tiblemont property in northwestern Quebec, was Maufort Resources, which moved down 4 cents to 56 cents on 112,400 shares. Maufort is encouraged by the results of its 1987 exploration program which involved 81 drill holes representing almost 45,000 ft.

A new gold-bearing zone has been uncovered at the Vendome project, situated north of Val d’Or, Que., by Val d’Or Resources, which lost 5 cents to 74 cents on a volume of 54,300, and Abcourt Mines, which slipped 2 cents to 67 cents on 30,300 shares. The new zone is situated in the northern part of the property.

Vior Inc. of Quebec City has announced plans to take control of VSE-listed Goldhurst Resources by way of a private placement with the company and a 5-year voting trust and option deal with the president of Goldhurst. Vior gained 1 cents to 94 cents with 19,000 shares changing hands. Goldhurst has a 34% equity interest in a Mexican placer project and a 2% interest in Cambior’s Mouska property.

Rogi Exploration, which moved down 8 cents to 30 cents on 29,000 shares, reports spending $1.8 million on its 1987-88 exploration campaign. The company, which acquired two additional properties last year, is earning a 40% interest in the gold- copper-zinc Annamaque-Farraday property southeast of Val d’Or from Aur Resources, which closed unchanged at $6.38 on 12,300 shares.

Newly listed on the ME is Orex Exploration of Rouyn-Noranda, Que.