Montreal Exchange Vior up sharply

Wednesday close, Dec 3

Overburden drilling on Inco and Cambior’s Douay Twp. property in the Casa Berardi area of northwestern Quebec are “very, very spectacular” says Claude St. Jacques, president of Vior, the company that is funding the work.

That’s probably why Vior’s stock has been so strong of late, trading 383,500 and moving up 32 cents on the week to close at $2.07 after touching a year-high of $2.25.

Vior will earn a 25% interest in the property by funding $2.5 million worth of exploration this year and can earn another 10% interest by spending a further 1 million within two years.

Mr St. Jacques could not give any specific results before gaining Inco’s approval, but he says the results will rival those that led to the Golden Pond discovery, another Inco gold property in the same area.

Inco, the operator on the Douay project, is moving a drill onto the property from Golden Pond this week to do some diamond drilling.

Chesbar made an even more spectacular percentage gain this week, picking up 61 cents to close at $1.26 after touching a year-high of $1.40 on 110,300 shares. The week’s gain represents a 48% increase.

Chesbar has been getting some good results from sampling along the walls of a decline ramp being put down on Murgold Resources’ property in Ontario’s Swayze gold belt.

Cogesco showed some strength this week, trading 172,000 shares and gaining 4 cents to close at 64 cents . It’s in the process of earning a 25% interest in the Ribago-Silidor property near Rouyn, Que., being explored by Noranda.

Latest results from deep drilling at Ribago indicate that tonnages could be more than double what were originally expected, and the grade is holding up at depth as well.

Explorations Rambo, a new listing on the Montreal Exchange, traded 1,155,200 as it came on the market. Its prime property is a gold prospect in Massicotte Twp. near Detour Lake but on the Quebec side. A 10,000-ft drilling program is being conducted there.

Ressources Farboro moved up 4 cents on 214,400 shares to close at 27 cents . It has recently acquired a gold prospect in the Joutel area, also in northwestern Quebec, and is raising $1.5 million to fund exploration.