Noranda Minerals, the manager, Cambior Inc. and Nova-Cogesco Resources report a start-up for the project, which should turn out almost 60,000 oz gold during the first year of operation next January. Silidor reserves stand at 4.5 million tons grading 0.18 oz gold per ton. Trading 385,700 shares, Noranda Inc., the parent firm of Noranda Minerals, gained $2.13 to $25.25. Nova-Cogesco climbed 11 cents to 96 cents on 29,200 shares, while Cambior slipped 50 cents to $13.63 with 74,900 shares changing hands.
The copper-zinc discovery in Louvicourt Twp. near Val d’Or, Que., by Aur Resources and Societe Miniere Louvem continues to spur investors, who seem to be following the exploration activity closely. Aur moved up $1.50 to $10.50 on a volume of 105,500 and Louvem jumped $1.25 to $7.13 on 583,300 shares. Louvem’s major shareholder, St. Genevieve Resources, was also active, trading 338,000 shares and gaining 34 cents to $2.80.
Benefitting from the excitement of the discovery is Exploration Rogi, which is a joint-venture partner with Aur on the Obaska property four miles northeast of the Aur- Louvem discovery zone. Trading 711,800 shares, Rogi rose 16 cents in price to 31 cents .
Volume leader was Societe d’Exploration Miniere Mazarin, which is exploring a graphite deposit near the Quebec-Labrador border. Mazarin traded almost two million shares, climbing 24 cents to $1.06.
Already into graphite production in Quebec, Stratmin Inc. moved up 33 cents to $2.25 with 573,400 shares changing hands. Stratmin also has a 37.5% interest in the Fontana gold prospect near Amos, Que., where a shaft-sinking program has been recommended. Jilbey Industries, which closed unchanged at 25 cents on 9,500 shares, also has an interest in the project.
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