The share price of Craibbe-Fletcher Gold Mines has surged above the 70-cent level as the company plans to resume underground exploration of its property that adjoins the Campbell mine at Red Lake, Ont. The board of directors has approved of the $500,000 program. Craibbe-Fletcher, 51% owned by Placer Dome, traded in a low-high range of 70-75 cents on a volume of 23,000 shares for the week ended June 18.
The Craibbe-Fletcher program, scheduled for completion by the end of this year, will be conducted from workings established on the company’s property during 1958-61.
Windy Mountain Explorations has outlined preliminary reserves of 37.1 million tonnes averaging 0.44% copper and 0.05% molybdenum, 0.04 grams gold and 3.68 grams silver per tonne on the MacLeod Lake property in the Eastmain River area of northern Quebec. At a low of 75 cents and a high of $1.50, 8,300 shares changed hands.
Subject to shareholder and regulatory approval, Victoria County Explorations announced that it proposes to acquire control of Optimal Robotics of Montreal. Victoria did not trade this week.
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