Alberta Stock Exchange Louisiana eyes copper

A copper project in New Mexico near the town of Silver City has caught the attention of Louisiana Mining. The junior has entered into a letter of intent with an individual to acquire a 51% interest in the Tyrone Extension property, adjacent to the large copper project of Phelps Dodge. Trading 13,300 shares, Louisiana was unchanged at 12 cents for the week ended May 1. Still in New Mexico, Biron Bay Resources reports it is encouraged by results from the second phase of a drilling program at the Summit joint venture gold-silver project in Grant Cty. The junior’s project partner is NovaGold Resources. Biron closed down 2 cents for the week at 97 cents on a volume of 59,000.

Near Kirkland Lake, Ont., production is expected to commence this summer at the Cheminis gold mine project, owners Northfield Minerals and its subsidiary Rockford Minerals report. Cheminis and the Barber Larder project, also bought by the two companies, were acquired in the bankruptcy sale of the assets of Golden Shield Resources. Northfield, trading 38,500 shares, was up 10 cents to $1.40.

Earning up to a 50% interest in the Harquahala gold mine property in western Arizona is Gold Vessel Resources, which fell 9 cents to 90 cents with 31,600 shares changing hands. The company is hoping to increase reserves for heap leach development at the former producing property.

Seeking shareholder approval to amalgamate with Flint Rock Mines is Kalrock Developments. The proposed share-exchange ratio is six Flint Rock shares for one share of the amalgamated company, and one Kalrock share for one share of the amalgamated company. Kalrock was 10 cents bid, 10 cents ask on the week.

Pending approval, the Kalrock- Flint Rock amalgamated company plans to enter into an arrangement with a private company to earn an interest in a group of claims in the Fort Francis area of northwestern Ontario where copper mineralization has been uncovered.