Vancouver Stock Exchange Applegath’s Tundra moves up

Tundra Gold Mines was among the more active issues today, climbing 13 cents to $1.30. The company is still working its Lamaque mine project in Val d’Or, but this time interest is coming from the McKenzie Break property 15 miles northeast of the Quebec mining town. The weighted grade of one recent interval was reported as 1.56 oz gold over 6.7 ft.

Calpine Resources was up 11 cents to $2.31 at press time. New assays from Eskay Creek were released last week, and interest in the project and in Calpine appears to be holding steady. Calpine’s joint venture partner, Consolidated Stikine Silver, was up $1.38 to $13 after falling back from a high of $15 last week.

Among the more active issues over our report period was O’Hara Resources, which has a number of diversified mineral projects including a Montana property being explored for base metals by Cominco American Resources. The issue gained 28 cents to 56 cents . Interestingly enough, brokers here say investors are taking a keen interest in undervalued juniors developing or involved in promising base metal or polymetallic situations.

Dryden Resource Corp. was also active, gaining 2 cents to 41 cents . John Toffan, chairman of Consolidated Stikine Silver, and Ron Netolitzky have joined the board of the company which has a large land position in the Iskut River camp of British Columbia.

Antelope Resources climbed 36 cents to $1.36 after announcing it has outlined about 100,000 tons of mineral inventory in three separate zones (averaging about 0.42 oz gold) at its joint-ventured Rossland, B.C. gold properties. And Miramar Energy says Newmont Exploration has signed an agreement to earn a 51% interest in its Paymaster properties in Nevada which contain several past producers. The issue gained 18 cents to $1.23.

Siscoe Callahan Mining climbed 74 cents to $2.32. The company is acquiring up to a 100% interest in the old Jodelo Gold Mines property in the Timmins area of Ont. Previous operators are reported to have encountered gold values as high as 2.65 oz in association with high copper values.

Bema Gold Corp. also gained ground, up 15 cents to $1.60, after announcing a production decision for its Champagne heap leach project in Idaho, the first of several gold projects the company plans to develop with its partners in that state.

Athabaska Gold Mines slipped 9 cents to $1.48, and War Eagle settled back 22 cents to $1.46.

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