Alberta Stock Exchange Power, Oracle quiet

A good drill intersection from a gold property held equally by Power Explorations and Oracle Resources failed to have much impact on either issue. Despite releasing news of a 9.2-ft section grading 0.445 oz gold per ton from their Opapimiskan property which adjoins the Dome Mines Musselwhite project, north of Pickle Lake, Ont., Oracle remained unchanged at $1. Power was still under a halt at presstime. The gold mineralization, according to Power, is found in the same iron formation which hosts Dome’s Snoppy Lake deposit.

Barron Hunter Hargrave Strategic Resources was on the most active list, as it traded up to 44 cents before settling back to 38 cents . In early December, the issue traded at 26 cents . Barron has plans to bring a titanium deposit near Mine Centre, Ont., into production.

A proposal for a joint venture deal has been made by Placer Development to Golden Star Resources. If successfully completed, Placer will continue exploration and development of Golden Star’s Omai gold property in Guyana. The issue advanced another 14 cents to $2.80. A feasibility study suggests the property has reserves capable of supporting a 40,000-oz-per-year mining operation.

Another advancing issue was Citadel Gold Mines which added 60 cents to $4.

Twin Gold Mines was quiet at $1.50 despite news that Massive Energy is planning a major exploration effort at Twin Gold’s Lingman Lake gold property, north of Red Lake, Ont. The Twin Gold property hosts a gold deposit with reserves exceeding 500,000 tons.