STOCK MARKETS — Junior plays help western markets recover from slump — Winspear, Mar-West and Stratabound among host of winning mining issues

The Vancouver Stock Exchange composite index closed up six points at 809.45 over the report period ended July 29, for a 0.7% gain. The mining index followed suit, rising 6.09 points, or 0.8%, to finish at 726.9. The combined value of the Alberta Stock Exchange was down slightly, slipping 3.78 points to 2,285.54.

Diamond explorer Winspear Resources traded as low as $1.50 before climbing to $1.72, up 7 cents. Winspear released caustic fusion results from its discovery hole of complex kimberlite breccia from anomaly CL 186 in the Snap Lake area of its 57.3%-owned Camsell Lake project in the Northwest Territories. A 39-kg sample taken between intervals of 106 to 120.4 metres and 141 to 159 metres yielded 2 macros and 9 microdiamonds, or 0.51 macro per 10 kg. A second, 43-kg sample, taken from an interval of 187.5-211 metres, returned 20 macros and 36 micros, or 4.65 macros per 10 kg. The largest diamond recovered measures 1.48 mm in maximum dimension. Results from the second hole, 55 metres west of the discovery hole, are pending. The remaining 42.7% interest in the project is held by Toronto-listed Aber Resources.

Mar-West Resources was up 47 cents at $2.22, while partner Curion Ventures closed at 55 cents, up 11 cents. The companies hold an 80-20 interest, respectively, in the San Martin concession in central Honduras. Current drilling is expanding the newly discovered Sinter hot springs gold deposit, and a 6-hole program recently tested the neighboring Palo Ralo prospect. In response to the recent market activity, Mar-West says it is not in negotiation with any parties regarding a takeover offer.

An exploration program is set to begin in early August on Alberta-listed Stratabound Minerals’ 18.8-sq.-km Sierra Azul zinc-lead-silver property in Mexico’s state of Coahuila. The issue tacked on 6 cents to finish at $1.26.

NDT Ventures closed at 69 cents, for a 21 cents gain. The company signed an option agreement to acquire a package of 86 properties within the Quadrilatero Ferrifero gold district of Brazil’s Minas Gerais state.

Paramount Ventures & Finance climbed 23 cents to $1.08 after releasing drill results from a further five holes on its Juramento copper property in the Argentine province of Salta. Results included an estimated true width of 25 metres grading 0.97% copper and 19.3 grams silver per tonne.

Alberta-listed China Clipper Gold Mines jumped 36 cents to close at 96 cents.

The company holds a portfolio of gold projects in China and is aggressively evaluating further acquisitions.

El Misti Gold slipped to 92 cents, down 23 cents, after announcing it had agreed to a brokered private placement of 9 million units at a price of 92 cents per unit.

Grayd Resource rose 58 cents to $2.29. The company announced it had arranged a private placement of 1.5 million units at a price of $2 each with Atna Resources.

Champion Resources was up 17 cents at 85 cents. The company intends to proceed with a second phase of evaluation on the Farim phosphate deposit in Guinea Bissau, West Africa.

In exchange for technical and financial support, Independence Resources has granted Toronto-listed Greenstone Resources the right to purchase half of its interest in certain Mexican gold projects. As part of the agreement, Greenstone has subscribed to a private placement of 1 million units of Independence at 35 cents each. Independence climbed 13 cents to 41 cents.