Vancouver Stock Exchange Central Crude among big movers

Perhaps being a few thousand miles away from its east-coast stock market counterparts, where jittery investors seem to be behind much of the current volatility, can be advantageous for the Vancouver exchange, where the general index closed up more than 40 pts on the week.

Trading more than 1,138,700 shares and gaining $2.07 to $2.75 was Central Crude, which circulated a press release regarding preliminary exploration by Noranda Explorations on property in the Mishibishu Lake area of northern Ontario, about 40 mi east of Hemlo, and then updated the original release with a second, more detailed, bulletin. According to Central Crude, seven anomalous zones have been stripped and sampled to date by Noranda.

Delaware Resources, which slipped 13 cents to $8.63 on a volume of 100,200 shares, has anounced results from more fire assays from the snip project in the Iskut River area of British Columbia. Delaware says the drilling program is clearly establishing the presence of multiple zones on the gold property.

Drilling at the Bullion-Monarch project in Nevada has encountered significant gold mineralization, United Mining, which closed down 4 cents to 65 cents on 52,300 shares, reports. Several drill holes intercepted sections of mineralization of up to 170 ft of 0.02 oz gold per ton, while other intercepts with thicknesses up to 70 ft of 0.05 oz were encountered, says the company. United Mining’s joint-venture partner at Bullion-Monarch is Westmont Mining of Denver.

The legal battle over the Spotted Horse mine project near Lewiston, Montana, involving a number of mining firms, including the vse- listed Newfields Minerals and Chelsea Resources, continues. Newfields, a creditor of Chelsea, gained 35 cents to $3.75 on a volume of 185,800, while Chelsea traded 123,500 shares and moved up 10 cents to $3.90.

Encouraging preliminary results have been released by Zenco Resources from the Squall Lake gold property located five miles north of Snow Lake, Man. Soil sampling, magnetics and vlf-em surveying have been completed on the southwest portion of the property, which has undergone testing by previous operators. Zenco closed up 14 cents to 50 cents with 452,400 shares changing hands.