Vancouver Stock Exchange Alaskan project boosts Fairbanks 50^

However, unlike several years ago when junior gold issues were garnering investor interest, it appears to be the major mining companies that are finally basking in the spotlight. Many are reporting strong earnings from base metal and gold mining operations and are using this as a base for growth by acquisition.

The dearth of new discoveries that hung like a wet blanket over equity markets earlier this year also appears to be a thing of the past. Brokers say new discoveries in Quebec and elsewhere have renewed investor interest in a big way, particularly for base metal or polymetallic situations.

Trading activity at presstime was moderately active, consequently the VSE Index managed to pick up 3.01 points to 717.4, and move up 17.5 points from a week ago.

Hyder Gold, active on a gold project in Alaska, was up 4 cents to 56 cents at presstime while Unique Resources, a non-resource issue, gained 37 cents to 82 cents .

Calvada Resources was ahead 22 cents at 52 cents and Tamavack Resources gained 9 cents to 19 cents today. The two companies and Consolidated Powergem Resource Corp. have started a ground exploration program on the Albino Lake property, about one mile from Calpine’s 21 zone discovery in northwestern B.C.

Calpine Resources was once again the volume leader over our report period, adding 49 cents to $2.73. Calpine has been a busy issue lately, and we gather much of this is based on rumors of some exciting new drill results from Eskay Creek. Prime Resources was also active, ahead 34 cents to $2.02.

Consolidated Stikine Silver, which owns 50% of the Eskay Creek project, jumped $3.75 to $16.50.

Eric Friedland’s Fairbanks Gold got a boost of 50 cents to $3.70 after announcing some interesting drill results from the 51%-owned Fort Knox project near Fairbanks, Alaska. The company says this unique intrusive-hosted “porphyry gold” project represents an exciting new exploration target. However , because the genetic model is not yet clearly understood, the project has been met with skepticism.

Tenajon Resources was up 2 cents to 90 cents on good volume. Talk on the street is that the company is negotiating with Westmin Resources for a possible joint venture for the SB gold project, near Stewart, B.C., which is conveniently situated near Westmin’s 2,200-ton-per-day Premier Gold mine and mill.

Prime Capital’s Goldnev Resources was active again this week, adding a further 22 cents to settle at $1.17. Along with partner Bethlehem Resources, the company plans to reactivate the Goldstream copper- zinc mine and mill near Revelstoke, B.C. After producing for less than a year the mine closed in 1984 because of low metal prices and lower- than-expected metal recoveries. Consequently, some industry veterans say it will require good engineering to make this one fly.

Dragoon Resources climbed 24 cents to $1.90 after announcing that a number of areas of the flat-lying mineralized shear were opened on surface at its Millie Mack bulk- tonnage, gold-silver project, in southeastern B.C.

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