Montreal Exchange Casa Berardi drilling (May 20, 1991)

From the Casa Berardi area of Quebec, TVX Gold and Golden Knight Resources reported completion during the first quarter of 19 drill holes at their joint venture gold mining project. Five of the holes intersected values greater than 0.08 oz. gold per ton. Trading 3,700 shares, TVX slipped by 13 cents to $3.50. Golden Knight dropped by $1.13 to $9.88 on 500 shares. Summer and autumn drilling programs are planned this year by the two companies.

Daily trading volumes for the week ended May 14 ranged between 3.6 million and 5.2 million shares. Both the market portfolio and mining and minerals index declined, the former by more than 13 points and the latter by 9.3 points.

Diana Resources of Vancouver reported that Minnova has been drilling to test a zone at a depth of about 2,000 ft. on the Obatogamau gold property in the Chibougamau area of Quebec. The drilling by Minnova, which gained 13 cents to $17 on 500 shares, is probing extensions of a zone from an adjacent property.

Societe Miniere Mimiska, which dropped three cents to 17 cents on 49,900 shares, reported completion of a geophysical survey at its Pusticamica gold property in Mountain Twp. in northwestern Quebec, near the Benoist Twp. discovery of Freewest Resources. The company said further exploration is planned.

Still with that area of the province, a legal fight may be about to erupt between Freewest Resources and Ressources Miniere Forbex over staking of claims in Benoist Twp. Trading 12,600 shares, Freewest closed unchanged at $3.25. Forbex moved up a penny to nine cents with 4,000 shares changing hands.

Spectrum Gold said it will be seeking shareholder approval in June for, among other matters, a share consolidation and share reclassification. Spectrum closed unchanged at three cents on 100 shares.