STOCK MARKETS — Dia Met off by $2.50; additional diamond

Western markets managed to hold their ground during the period ended June 29, with the Vancouver Stock Exchange resources index edging up 3.16 points at 543.18, and the composite index posting a modest 4.41-point loss to finish at 603.38.

The Alberta Stock Exchange composite index added 12.3 points to close at the 837-level.

Trading in Dia Met Minerals remained volatile, with investors awaiting further news of sampling results from the company’s 29% owned Point Lake diamond property in the Northwest Territories. The issue slid $2.50 during the period to close at $14.

A long copper-gold intersection at the Casino porphyry property in southern Yukon helped Big Creek Resources, boosting the issue to $1.10 for a gain of 39 cents. The hole returned a 523-ft. intersection from 77 ft. to 600 ft. with an average grade of 0.021 oz. gold per ton and 0.59% copper. Big Creek can earn a 50% interest in the property from Casino Silver Mines by funding $3.5 million in exploration. Casino added 19 cents to close at 60 cents.

Results from a continuing drilling program on the Macuelizo property in Honduras did not appear to help owner Melinga Resources. The best gold intersection returned 125 ft. grading 0.083 oz. gold, including a 40-ft. section grading 0.19 oz. gold; a number of other holes returned narrower, lower-grade intersections. Melinga lost 11 cents to close at 83 cents. Stralak Resources put in an impressive performance, more than doubling to $1. The company reports that one drill hole is completed at its Craig Twp. polymetallic property in Ontario, but no assay results have been received. American Bullion Minerals finally released details of a previously announced fluorite acquisition. The company purchased a 100% interest in the Clearwater property north of Kamloops, B.C., and hopes to cash in on a projected increase in fluorite consumption. Fluorite is used in the production of “ozone friendly” refrigerants. American Bullion slipped 6 cents to close at $1.04.

The acquisition of two fluorite properties in British Columbia didn’t provide much of a boost to the share price of Verdstone Gold, which slipped a penny to 44 cents. The company is searching for joint venture partners to fund exploration on the properties and is also in negotiations to acquire a former fluorite producer in Nevada.

Silverspar Resources has met with considerable market success in developing a fluorite-silver deposit in Arizona. The company, in the process of raising US$10 million for feasibility work on the deposit, finished the week down $1 at $10.

An increase in reserves to an estimated 75.1 million tons grading 0.025 oz. gold in all categories at the Aldebaran property in Chile had little impact on the share price of 50% owner Arizona Star. The company plans to begin further exploration and prefeasibility work in the fourth quarter. The issue finished unchanged at the 70 cents level.

Prime Equities International remains in a volatile trading pattern, jumping 50 cents to close at $4. The company expects to begin trading on the National Association of Securities Dealers Automated Quotation System (NASDAQ) on July 1.

Champion Resources hit a year-high of 65 cents before closing unchanged at 60 cents. The company recently signed an option agreement with Western Mining, giving Western the right to earn a 70% interest in the Jones Hill property by spending a total of US$7 million and making cash payments totaling US$975,000. The New Mexico property hosts a large volcanogenic massive sulphide system.