Lightly traded Wye Resources says it plans to drill a newly acquired parcel of land in Gorham Twp., near Thunder Bay, Ont., this June. Commonly known as Thunderhead Gold Mines, the property contains both base and precious metal mineralization. Recent surface samples returned 0.55 grams platinum and 0.74 grams palladium. A quartz vein on the property assayed 100 grams gold per tonne.
Wye, with a 100% interest in the land package, was 17 cents bid, 20 cents ask for the week ended May 21.
Inactive for some time, Mate Yellowknife Gold Mines will ask shareholders to authorize amendments to the articles of the corporation to create an unlimited number of common shares. Currently, the authorized share capital of the company consists of four million shares.
Mate Yellowknife, 38.6% owned by Giant Yellowknife Mines, last traded at 10 cents.
Willingdon Resources continued to be a volume leader in the third week of May. Trading 236,700 shares, the company dropped five cents to close at $1.90. Willingdon plans to resume drilling on its Sioux narrows property near Kenora, Ont.
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