Alberta Stock Exchange Alberta Stock Exchange Noheco moves up 30

Good trading in shares of Naneco Resources added more than 30 cents to the issue, which was up to $2. Naneco expects to make a production decision this year on the Johnson Gulch project in South Dakota. The property hosts 1.7 million tons grading 0.06 oz gold per ton. Homestake Mining holds a 13% net profits royalty. The property is also burdened by a hefty 6% net smelter royalty.

Savanna Resources was also stronger, adding 20 cents to $1.20. The co mpany completed a deep drill hole on its Turner Albright polymetallic deposit in Oregon. The hole cut 300 ft of massive sulphides. Also, the company’s Courageous Lake, N.W.T., gold play was optioned by Bow Valley Industries. The ground is adjacent to and on strike with the Noranda-Getty Tundra gold deposit which is shaping up as a future mine.

A new issue on the board, Can American Precious Metals, added a nickel to 25 cents . The company is exploring a property in the Manitou Lakes area o f Ontario. Surface work has outlined a wide zone of economic grade gold mineralization. Some nice high grade was cut by a drill program on the Fontana property held under option by Bay Resources and Services. The issue traded at $1.70. One 9-ft section assayed 1 oz gold per ton in a shear zone striking across the Duvernay Twp., Que., property. The ground is held under option from Jilbey Industries which traded at 65 cents .

Claude Resources gave up some ground to $4; off 40 cents for the week. Placer Development plans to start an underground exploration program this year on Claude’s Seabee gold deposit, northeast of La Ronge, Sask.

Marshall Minerals added 25 cents to 95 cents . The company has reached an agreement with Gail Resources, a private company, to acquire Gails’s stake in a mill near Timmins. Gail’s Carshaw property saw limited gold production in 1984. The purchase price is $6 million, of which $650,000 is payable in cash and the balance as 8 million Marshall shares. The share issue will result in control of Marshall passing to Gail Resources.