Montreal Exchange Deposit stirs investors

A couple of neighboring property owners were also in demand. Junior-mining company Cartier Resources traded 781,500 shares and moved up 6 cents to 10 cents . The Hughes- Lang company Aurizon Mines, a small gold producer created last year through the amalgamation of D’Or Val Mines and Perron Gold, traded 324,300 shares, jumping 15 cents to 39 cents .

Trading activity in general during the week was robust, ranging between 5.8 million and 7.5 million shares. However, both the market portfolio and mining and minerals index closed down, the former by almost 35 pts and the latter by almost 58 pts.

In the Rouyn-Noranda area of the province, Audrey Resources has announced more encouraging results from a hole drilled to test the upper limits o f the huge 1100 lens located on the polymetallic Mobrun property. Management says the results make it the “best hole” drilled to date on the property, which could be back in production (following a planned shutdown) in mid-July. Audrey, with a 70% interest in Mobrun, moved up 20 cents to $3.50 with 103,900 shares changing hands, while project partner Minnova Inc. slipped 75 cents to $18.13 on 300 shares.

Caribbean Resources, Exmar Resources and Mishibishu Resources received favorable results from their jointly-owned Mishibishu, Ont., claims. Gold grades of up to 1.2 oz per ton were returned from grab samples taken by Hemlo Gold. The three companies each own a third of the 274-claim property.

Belmoral Mines and Wrightbar Mines have announced plans to amalgamate. Gold producer Belmoral currently has a 17% interest in Wrightbar, which owns property adjacent to Belmoral’s Val d’Or area holdings. Trading 104,100 shares, Belmoral improved 4 cents to 71 cents . Wrightbar rose 8 cents to 18 cents on a volume of 201,900.

Preparing to have a road constructed to its Fern Elizabeth gold property near Atikokan in northwestern Ontario is Societe Miniere Mimiska, which gained 20 cents to $1.30 on 57,200 shares. The company reports the discovery this year of a new zone about 1.8 miles south of the Elizabeth veins.

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