Montreal Exchange Six drills at Grevet .LThe Mid-East crisis

Trading volume during most of the week was in the range of 4.9-6.1 million shares. The general market portfolio index dropped by 39.6 points and the mining and minerals index fell by 86.8 points.

At the Grevet zinc project in northwestern Quebec, project partners VSM Exploration and Serem- Quebec reported six drills are at work. A preliminary reserve calculation of about 7.6 million tonnes of 8.27% zinc (with copper and silver credits) is expected to be updated within the next few months. Trading 90,900 shares, VSM gained 5 cents to $1.15.

Societe Miniere Mimiska says it has an agreement with three individuals to acquire property in the Red Lake area of northwestern Ontario. Surface exploration work, to be followed by a drilling program, is planned by Mimiska, which slipped 2 cents to 32 cents on 15,400 shares.

An additional $400,000 has been borrowed by American Reserve Mining from merchant bank DCC Equities, the money to be applied to the Kutcho Creek copper-zinc project in British Columbia which is being managed by joint venture partner Homestake Mining (Canada). American Reserve, whose stock rose 13 cents to 63 cents on a volume of 76,500, says a request has been made for more funding.

The partner of Stabell Resources at the Dubuisson Twp. project in northwestern Quebec, VSE-listed Acquisitor Mines, is planning an offering (shares and warrants) in Quebec, the proceeds to be used for exploration work on the southern portion of the property. Stabell, Acquisitor’s major shareholder, closed unchanged at 4 cents on 75,400 shares.