Volume leader with 450,000 shares changing hands was Mazarin Inc., which is busy exploring its promising graphite property in the Fermont, Que., area, near the Labrador border. Mazarin shares gained 2 cents to close at 55 cents .
In Quebec’s northwest, south of Matagami, Audrey Resources and Noranda Exploration have reported a new gold showing at the Galinee 3/6 property. Trading 45,700 shares, Audrey climbed 5 cents to $3.85. In the same area, Noran da has signed an agreement with Vior Inc., which slipped 3 cents to 46 cents on 19,400 shares, to cover exploration work on the latter’s claims. Noranda’s parent, Noranda Inc., closed unchanged at $22.75 on a volume of 108,900.
Armistice Resources reports it has started up a new drill program at the 2,250-ft level to expand the Sheldon zone and test the deeper Kerr zone at the company’s Virginiatown gold property in northeastern Ontario. Armistice traded 47,200 shares, gaining 2 cents to 65 cents .
Encouraged by the results of a recent drilling program at a polymetallic prospect near the old Normetal mine workings in northwestern Quebec are La sarre Mining and Normetal Mining. Trading 6,800 shares, La Sarre moved up 3 cents to 13 cents ; Normetal gained 2 cents to 37 cents on 11,000 shares.
Eager to test its Isle Dieu Twp. main gold property near Matagami is Northern Mining Explorations, which jumped 5 cents to 12 cents with 8,000 shares changing hands. A small exploration program has been planned by the company for the first half of this year.
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