Montreal exchange New lens at Mobrun

Drilling underground at the Mobrun mine just north of Rouyn- Noranda, Que., Audrey Resources and partner Minnova have discovered a new massive sulphide lens, the “C” lens, at a depth of 2,115 ft. Intersections include a 131-ft. true width grading 0.45% copper, 7.37% zinc, and 0.07 oz. gold per ton. The partners have agreed to an additional budget for 10,000 ft. of underground drilling on the new discovery and the 1100 lens, and have postponed a production feasibility study for one month. Trading 183,600 shares, Audrey gained 55 cents to $3.35. Minnova edged up 38 cents to close at $18 even on a volume of 2,100. Near Quevillon, Que., another discovery by VSM Exploration at the Grevet base metal property is proving to be rich not only in zinc, but in copper too. Three of four recent holes drilled on the new discovery zone hit significant widths grading over 1% copper. The new copper-zinc zone adds to the 6.1 million tons of reserves grading almost 10% zinc that VSM has already outlined at Grevet. VSM shares gained 12 cents, to close at $1.15 on a volume of 344,400.

Exploration at Radisson Mining Resources’ Duquesne property, north of Rouyn-Noranda, Que., will proceed following regulatory approval of three private placements. Radisson will raise a maximum of $2 million through the placements, allowing the company to complete an underground and surface exploration campaign at Duquesne. Trading 56,400 shares, Radisson moved up 5 cents to 30 cents.

Amberquest Resources, which gained 23 cents on a volume of 109,900 shares, reports that it has entered into an option agreement to acquire a 70% interest in a mineral property in Nevada. Amberquest must pay US$35,000 and spend US$150,000 over a 3-month period to finance a bulk-testing pilot plant operation on the property.

Vancouver-based Armeno Resources has sent a field crew up to the Independence gold-silver prospect near Stewart, B.C., to begin a $200,000 exploration program. Armenex Resources Canada is earning a 50% interest in the property. Armeno shares dropped a penny to 28 cents on a volume of 164,100.