Montreal Exchange Vior big trader

One hole does not make a mine, but the results of a single drill intersection in the Casa Berardi area of Quebec have created quite a stir. Project partners Inco, Cambior and Societe d’Exploration Miniere Vior reported intercepting 59.3 ft. grading 0.23 oz. gold per ton at their Douay Twp. property, sparking a flurry of trading activity in their own stock and the shares of other companies with land positions in the same area. Vior, a junior based in Quebec City, traded more than 1.4 million shares for the week ended Feb. 13 and gained 89 cents to $1.38. Vior has been active of late on a number of exploration plays elsewhere in the province. Cambior, recently the subject of a takeover rumor, slipped 25 cents to $18.78 on a volume of 237,700.

For nickel producer Inco, announcement of the drill intersection couldn’t have come at a better time. Declining nickel prices have brought the company back to earth after the spectacular price levels of 1988-89. Trading 150,900 shares, Inco gained 13 cents on the week to $27.63.

On the week, the market portfolio managed a small gain of 1.4 points, while the mining and minerals index tumbled 23.6 points. Daily trading volumes ranged between 5.4 million and 8.5 million shares.

Beaufield Resources, which owns property adjacent to the Douay project, has optioned a 50% interest in the property to Orient Resources, which must spend $1 million within three years to earn that interest. Beaufield jumped 8 cents to 29 cents with 170,400 shares changing hands, while Orient climbed 17 cents to 44 cents on 97,800 shares.

A bulk sample from the old Duquesne mine north of Rouyn- Noranda, Que., has provided Radisson Mining Resources with its first gold from the project. The dores poured contained a total of 1,059.4 oz. The company has a second bulk sample in the works. Trading 373,400 shares, Radisson moved up 10 cents to 62 cents on a volume of 373,400.

In Courville Twp., about 18 miles northeast of Val d’Or, Que., Parquet Resources and Cache Exploration reported further encouraging drill results. Cache is earning a 50% interest in the gold property. Parquet, trading 171,500 shares, gained 2 cents to 20 cents , while Cache climbed 21 cents to 71 cents on 177,500 shares.