Alberta Stock Exchange Biron Bay up 30 cents

A recent progress report by Biron Bay Resources on its 60% owned Summit gold project in New Mexico has led to a 30 cents gain in that company’s share price. Biron traded 109,100 shares to close at $1.05 in the report period ended Dec. 4. The company says stepout drilling has expanded preliminary reserves on its Summit vein to just over one million tons grading 0.18 oz. gold and 11.6 oz. silver per ton. Drilling to the north has outlined another near-surface deposit with initial reserves of 219,445 tons grading 0.24 oz. gold and 12.8 oz. silver. Goldbank Ventures rose 8 cents to 33 cents after the company announced a letter of intent has been signed with VSE-listed Adrian Resources concerning Goldbank’s Mila polymetallic property near Clearwater, B.C. The deal gives Adrian the right to earn a 70% interest in the property by spending $1.5 million over five years. Fall field work on the claims yielded grab samples with 1.38% copper and 9.28% zinc. A trenching and drilling program is planned.

A total of $800,000 has been raised by Champion Bear Resources for a drill program on the company’s One Man Lake and Campbell gold prospects near Kenora, Ont. The combined equity and flow-through financing was completed at prices of $1.23 and $1.50 per share. Champion gained 45 cents to close at $2 on volume of 14,700 shares. The company says a drill program is set to get under way this month on its wholly owned gold prospects.

Among the losers during the report period were Ontex Resources which shed 39 cents to close at $1.55 on volume of 27,000 shares, and BMR Gold which closed 4 cents lower at $1.15. Varna Gold saw 127,200 of its shares change hands for a loss of 2 cents to 11 cents.

Kingswood Resources traded 104,500 shares to close unchanged at 11 cents during the report period. A 3,000-ft. drill program is under way on a base metal property in Bourlamaque Twp., near Val d’Or, Que., where Kingswood is earning a 50% interest from Noranda.