Trading 113,100 shares and gaining 2 cents to 85 cents was VSM Exploration, which continues to turn out encouraging drill results at the copper- zinc Grevet M property near Matagami, Que. Owner of the property and VSM’s partner in the project is the French-controlled company Serem-Quebec.
Goldex Mines, which dropped 19 cents to $1.75 on 1,100 shares, has been drilling below 1,250 ft at its gold property near Val d’Or, Que. The drilling overlapped onto claims owned by Ormico Exploration; Goldex has an option to earn a 60% interest in the claims through exploration work. Ormico was up 2 cents on the week to 35 cents with 17,800 shares changing hands.
Recently entering into a subscription agreement, involving 200,000 shares and the same number of warrants, with a private numbered Quebec company was Kewagama Gold Mines (Quebec). Trading 130,500 shares, Kewagama jumped 15 cents to $1.50.
Golden Day Mining Exploration reports field work was recently commenced on the Dean Creek gold property west of Red Lake in northwestern Ontario. Drilling is scheduled to begin early in September. Golden Day, which closed unchanged at 6 cents on a volume of 65,800, has a 70% interest in the property; VSE-listed Inlet Resources retains the other 30%. Managing the exploration work on the property is Noramco Explorations.
Planning to subscribe to 750,000 shares of Foratek International is ASE-listed Bay Resources and Services, which is controlled by St. Genevieve Resources. Bay and St. Genevieve say they want to participate actively in Foratek’s development and eventually increase Bay’s participation in the company’s share capital. Foratek, through a subsidiary, is developing a quartz property at St. Vianney, Que. St. Genevieve slipped 7 cents to $1.84 on 209,300 shares.
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