Vancouver — Canada’s junior exchange failed to generate any excitement as all indices traded in a narrow range and on low volume. The Canadian Venture Exchange composite index added 0.08 of a point to its value and closed the week ended Aug. 21 at 3,080.70. The mining index lost 70.31 points, or 0.9%, to finish at 7,394.31.
Poplar Resources continued to attract traders, ending the week up 4 to 27. The stock has traded near a 52-week high since the announcement that the company’s 65%-owned subsidiary, North Star Diamonds, has completed a geophysical survey over the Bottenbacken polymetallic project in central Sweden.
Cash-strapped Conquistador Mines ended the week unchanged at 1. The company has been unable to attain funding for its Colombian operations, and, what’s more, a liquidator has been appointed to attend to the dissolution of Corona Goldfields. The junior does not expect to receive any proceeds from the liquidation.
Eurozinc Mining lost 7 and closed at 18. The company has completed a feasibility study on the Aljustrel base metal project in Portugal. Eurozinc is in the process of arranging financing for additional underground development and for modifications to the existing mill.
International Barytex Resources tacked on 11 to finish the week at 41. The company finished its due diligence at Northern Orion’s Mantua copper project in Cuba. An independent technical report concluded that open-pit mineral reserve estimates are reasonable and that the scope for future mining should be within the range of 6.1-7.5 million tonnes grading 2.8-3% copper, with stripping ratios in the order of 7-to-1 or 8-to-1.
Brazilian Resources added 2 to its value and closed at 7. The junior has Brazil interests in food products, energy, mining and telecommunications. At last report, the company was negotiating with potential management and financial partners for development of the Sabara gold project in Brazil.
Brasilca Mining dropped a nickel and closed at 14. Toronto-listed majors Teck and Inco are following up on airborne geophysical anomalies over Brasilca’s Tucuma copper-silver property in Brazil. Diamond drilling on the new targets is supposed to start this month.
Gold Canyon Resources jumped 28 to $1.12. The company has begun mapping and sampling at the Cordero gallium project in Humboldt Cty., Nev.
Shares in Radius Explorations dropped 11 following the release of results from the remaining three holes at the Lupita zone on the Tambor gold property in Guatemala. Despite hitting broad zones grading between 0.7 and 1.3 grams gold per tonne in two of the holes, Radius ended the week at 87.
The latest drill results from the West zone on the Ferguson Lake nickel sulphide property in Nunavut failed to lift shares of Starfield Resources. The shares closed down 4 to 50. Starfield has three rigs turning on the project.
Meanwhile, drill results from the Magistral copper prospect in Peru gave shares of Inca Pacific Resources a small boost. The company ended the week up 2 to 27.
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