Encouraged by the phase-one results of an exploration program on property in Vauquelin Twp., east of Val d’Or, Que., are Bateman Bay Mining and Vauquelin Mines. Vauquelin, whose last trade was recorded at 31 cents , is earning an interest in the Bateman property, which is contiguous to Vauquelin property to the south. Bateman traded 38,300 shares, slipping 1 cents to 12 cents .
VSE-listed Yellow Band Resources has acquired options to earn an interest in two properties in the La Trappe and Dolbeau region of Quebec belonging to associated companies Sphinx Mining and Achates Resources. Sphinx climbe d 8 cents to $1.14 on a volume of 152,800, while Achates traded 94,100 shares, gaining 2 cents to 11 cents .
Shares of Falconbridge Gold began trading on the ME at the end of the week, the stock of the company closing at $2.80 on 11,000 shares. The company was created by parent Falconbridge Ltd. to operate the producing Owl Creek and Hoyle Pond gold mines and to explore and develop new gold projects in Canada. Parent Falconbridge, benefitting from higher nickel and copper prices, climbed 25 cents to $28.63 with 56,100 shares changing hands.
Busy with plans to explore its Duquesne West property in Quebec’s Duparquet and Destor twps. is Globex Mining, which was 20 cents bid, 30 cents ask on the week.
Mimiska Mining, which closed unchanged at $1.05 on a volume of 157,700, has reported preliminary results from two gold properties in northern Quebec (near Fort Chimo) in which it is earning a 50% interest from Noranda Inc., which closed unchanged at $25.88 on 221,500 shares. A drilling program is planned this spring for the projects.
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