Volumes remained buoyant but the market portfolio and mining and minerals index went in opposite directions during the week ended Feb. 4, the former closing up by 7.8 points and the latter slipping by 10.5 points. Daily trading ranged between 4.8 million and 8.4 million shares.
Riding high of late has been Aurizon Mines, which gained a penny to 34 cents on 65,800 shares. The company’s Sleeping Giant gold property north of Amos, Que., is undergoing an extensive drilling program under the direction of Cambior. The current main target is the 20 zone, which lies to the north of No. 2 shaft of the former producing gold mine. Trading 73,100 shares, Cambior was off by 63 cents to $8.50.
In Benoit Twp. in northwestern Quebec, Orient Resources and project partner Commonwealth Gold are planning a 5,000-ft. drilling program to test for the western extension of a gold zone uncovered by Freewest Resources on adjacent property. Orient, trading 16,400 shares, closed down 3 cents to 13 cents. Globex Mining Enterprises, which was 30 cents bid, 45 cents ask on the week, said preliminary work is progressing at the Lyndhurst polymetallic project in Destor Twp. in northwestern Quebec, a joint venture play with Noranda Exploration.
Northeast of Val d’Or, Que., Ressources Maufort recently completed a drilling program at the Tiblemont property. (Maufort’s project partner is Cameco Corp.) The company said five targets were verified and two holes intersected a new gold-bearing zone. A new drilling program is planned.
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