Partners Placer Dome, Pelangio-Larder Mines and Quote Resources believe they have intersected the edge of a conductor stretching for several thousand feet along their Rhinelander property in northern Wisconsin.
Two of four holes cut 5-ft. of sulphide mineralization containing anomalous zinc and gold values. Placer, as operator, is earning a 70% participating interest in the property by spending $5 million on exploration.
The drill results did little to stir the Pelangio issue, which closed unchanged at 17 cents for the week ended May 28.
Shareholders of Madison Grant Resources will be asked to approve a 2-for-1 stock split at a special meeting to be held on July 5. The company has been trying to find a joint venture partner for its gold-silver mine property near Virginia Cty., Mont., for some time.
Trading 18,900, Madison closed unchanged at $2.50.
Brightwest Resources, with minority interests in two producing gas wells, gained two cents to close at $1.05 on a volume of 153,350.
Keeping a low profile lately, Anglo-Swiss Mining traded heavily during the week, closing down six cents at 24 cents. The company has yet to complete a proposed feasibility study on the Ladner Creek gold mine property in British Columbia.
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