Alberta Stock Exchange Tyrae gains 43 cents

The high-profile Eskay Creek gold region of northwestern British Columbia continues to attract more junior companies. One of the latest newcomers is Tyrae Resources, which following a recent change of control, has obtained rights to explore three large claim blocks held by Brucejack Gold, a private company. Brucejack has interests in the Mount Madge, Treaty Creek and Todd Creek properties, all of which are in the Eskay Creek — Sulphurets area. Tyrae is currently completing a $750,000 private placement to finance exploration on the properties. Shares of Tyrae surged ahead 43 cents to close at $1.08 on volume of 887,800 during the week ended July 24. Gold Vessel Resources, which is also earning interests in the above three properties through a recent option deal with Catear Resources, traded 22,500 shares to close at 70 cents.

Some of the other Eskay Creek area claim holders like Integrated Resources and American Ore saw good volumes, but moved in opposite directions. Integrated fell 6 cents to 25 cents on volume of 474,000 shares, while American Ore added 1 cents to close at 21 cents. Indigo Gold also slipped 2 cents lower to 22 cents. It was followed by Keylock Resources, which shed 1 cents to close at 36 cents on volume of 24,500.

Naxos Resources plummeted 64 cents to close at $1.55 after the company announced its first gold pour from a placer mining operation on Thibert Creek near Dease Lake, B.C.

On the eastern front, Bonanza Metals recently received favorable results from a prefeasibility study on its Poirier copper-zinc property near Joutel, Que. The company needs about $14 million to reopen the past-producing base metal mine. Various sources of financing are being evaluated, says Bonanza President Gilles Fiset.

Meanwhile, Marshall Minerals, which is developing the Restigouche lead-zinc property in New Brunswick, posted a gain of 40 cents to close at $1.50. The company is also a major shareholder of Eden Roc Mineral which is developing gold properties in Africa’s Ivory Coast.

Another active trader during the report period was Dingman Industries. This issue traded 302,000 shares to close at 22 cents, up 2 cents from last week’s price. Dingman is hoping to come up with a plan for dealing with arsenic-bearing gold concentrates produced in Kazakhstan, the leading Soviet gold-producing republic.