Goldhunter Explorations jumped to the top of the most active list as the company announced an option on ground next to the recent base metal discovery of Fort Knox Gold Resources.
Trading 615,500 shares, Goldhunter almost doubled in value from 12 cents to 22 cents during the week ended Oct. 29. Previous owners of the 21-claim property obtained grab samples assaying up to 7.14% copper with low gold values. Goldhunter has outlined seven geophysical targets for drilling. Aaron Oil also picked up a dime to close at 30 cents after the company announced plans to drill for diamonds near Fort a la Corne and Sturgeon Lake, Sask. In a joint venture agreement with Claude Resources, Aaron will spend $100,000 to test magnetic anomalies, one of which lies within two miles of a diamond-rich bulk sample recently taken by Uranerz.
Kingswood Explorations was active but unchanged at 17 cents following the discovery of a massive sulphide zone on its property near Matagami, Que. Drilling underneath the old Phelps Dodge deposit, Kingswood intersected 13.3 ft. grading 4.23% zinc and 1.14% copper at a depth of about 3,000 ft. Trump Reserve Minerals has signed an agreement with Golden Tag Resources to earn 50% of the interest held by Tag in the Quill Lake property in northwestern Ontario. Tag has an option to earn a 50% interest in the 42-claim gold property from Hemlo Gold Mines. The partners are currently line cutting, trenching and conducting geochemical surveys on the property. Trump closed unchanged at $1.25
Durga Resources and Durvada Resources, which are pursuing a merger, say they have filed an application for environmental approvals to install a 300-ton-per-day mill at their gold prospect in Sandy Valley, Nev. Durga shed five cents to 55 cents while Durvada closed unchanged at 50 cents.
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