Vancouver Stock Exchange: Rock & Roll bet biggest game

The Vancouver Stock Exchange composite and resource indices continued to push ahead over the period ended Feb. 12. The composite index added 13.10 points to finish at 524.59, while the resource index closed up 27.02 points at 585.16.

The sustained rally has been a pleasant change from the successive record lows seen in January. The change in direction was accompanied by a jump in daily trading volumes to the 15-million-share level from January’s dismal daily average of about 10 million shares.

The biggest game in town continues to be the Rock & Roll project in the Iskut River area of northwestern British Columbia where Eurus Resources (VSE) and Thios Resources (VSE) are drilling a massive sulphide target.

Thios took top volume spot, trading over 2.1 million shares while Eurus traded a healthy 1.2 million shares.

Although the companies have not received any assay results yet, the drilling is reported to have traced a uniform stratigraphic unit averaging 25 metres in width containing 2-3 distinct mineralized zones over a stike length of 200 metres.

Eurus jumped 60 cents over the period to finish at $3.25 while Thios added 17 cents to close at $1.15.

Other companies in the area were active, including Consolidated Bel-Air Resources which rose 22 cents to finish the period at 80 cents on more than 980,000 shares. The company hs a 25% interest in the adjacent Bornagain property along with Eurus and Thios which hold a 37.5% interest each.

Pacific Sentinel Gold continued its search for a bottom, dropping $1 to finish at $1.65. Recently released assay results from the company’s much-promoted Golden West project in Arizona turned out to be considerably less than spectacular. PIC International Prospectors and Almenden Resources, which hold a 25% interest each in the property, fell 13 cents and 10 cents respectively to both sit at the 40 cent level.

Kokanee Resources managed a gain of 50 cents over the period, closing at $2.25.