Vancouver Stock Exchange Rumors fuel Continental Gold surge

Zurfund International was among the more active issues at press time, up 2 cents at 75 cents . Formed to investigate opportunities in Chile, Zurfund says it may have an economically viable iodine/nitrate mining operation in northern Chile. Zurfund and joint venture partner Kap Resources are associated by way of some common management to International Mahogany Resources and North Lily Mining.

Corptech Industries, a Prime Capital company, was ahead 3 cents at 38 cents after announcing it had reached an agreement with Noranda Exploration to acquire a 50% interest in the Bivens Creek property near Butte, Mont. The exploration target is an open pit gold deposit amenable to heap leaching.

The big news in Vancouver and just about everywhere is Aur Resources’ new massive sulphide discovery near Val d’Or, Quebec. Several VSE-listed juniors active on properties nearby were able to benefit from interest in the copper- zinc-silver-gold massive sulphide discovery, including this week’s volume leader Murgor Resources. Murgor gained 4 cents to 14 cents after announcing it is negotiating to acquire a 50% interest in claims adjacent to the eastern boundary of the joint-ventured Aur/Louvem property.

Aurizon Mines also managed a gain of 18 cents to close at 40 cents after reporting that Aur’s discovery is adjacent to the southeast corner of its Beacon property where areas of copper mineralization had previously been discovered. The company’s geologists are now reviewing all data from work in this corner of the Beacon property.

In other news, Continental Gold jumped $2.63 to close at $7.38. Talk on the street is that Rio Algom has made an offer for all the company’s shares. Bob Dickinson, president of Continental Gold, declined to comment on the rumor but did say the Mt. Milligan gold-copper project near Prince George, B.C., is getting the attention it deserves from major mining companies.

Dickinson is also president of Pacific Sentinel Gold Corp. which gained a dime to $1.60. The company has signed a letter of intent with two juniors to acquire a 70% interest in a bulk tonnage gold- copper project near Nelson, B.C. Details are expected shortly, but Dickinson hinted that the project has similarities with Mt. Milligan.

Fair Harbour Mining gained 7 cents to close at 51 cents after announcing it is about to start an exploration program including drilling on a polymetallic massive sulphide bet near Prince Rupert, B.C.

Mandalla Resources was up a further 17 cents to close at $1.27. The company is in the process of acquiring a U.S. gold mining venture, but details aren’t yet available.

Richard Nemis’ Blue Emerald Resources settled back 22 cents to close at 75 cents . The company recently completed a private placement to be used for exploration on a property in the Lac St Jean area of northern Quebec.

Agarwal Resources climbed 31 cents to close at $1.31 after announcing plans to acquire claims in the Battle Mountain District of Nevada and claims adjoining the former Britannia Beach copper/gold/silver mine near Vancouver, B.C.

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