Alberta Stock Exchange New Texmont rises

However, even though project operator New Texmont Explorations has reported two gold bearing zones at a depth of approximately 2,000 ft in a single drill hole, new grades have been released.

A Pat Sheridan group member, New Texmont is drilling a system known as the Frankfield zone which is known to straddle ground owned by GoWest Amalgamated Resources, Intex Mining and Frankfield Exploration.

Trading on 191,800 shares, New Texmont took the biggest leap of the Tully Twp. group. It gained 41 cents before closing at 66 cents . Frankfield added 10 cents to its share price to close at 25 cents .

GoWest Amalgamated, which traded a whopping 1,194,100 shares, gained 29 cents while Intex closed up 19 cents at 34 cents .

Savanna Resources continues to be a big trader following the company’s recent joint venture agreement with Toronto-based Aur Resources. The agreement allows Aur to earn a 51% stake in Savanna’s Turner Albright property which contains 3.3 million tons of grade 1.46% copper, 3.32% zinc, 0.44 oz silver and 0.114 oz gold.

Savanna was the volume leader with more than two million shares crossing the floor. The issue was up 22 cents before it closed at 97 cents .

News that Equity Silver Mines is modifying its Nugget Pond exploration agreement failed to ignite much interest in the Bitech Energy Resources issue. Under the new agreement, Equity is subscribing for 133,333 flow through common shares in Bitech for $600,000.

As a result, Bitech closed up 4 cents at 46 cents which is a long way from where it was trading back in February. Results from the Nugget Pond property drove the Bitech price as high as $2.25 but as the market waits for more news the issue has dropped to its current position.

Trading on a volume of 306,700 shares, was the Louisiana Mining issue which closed up 13 cents at $1.06. The company appears to be benefitting from news that its MMV N 1 gold property is about to go into production. Reserves at the Glendale, Nev. property stand at 6.9 million tons of grade 0.069 oz gold per ton.

Borealis Exploration’s seasaw battle with short sellers took a new turn this week when the Borealis issue dropped $1.24 to close at $5.25. After suffering the effects of a short selling spree, Borealis climbed to $8.00 a couple of weeks ago. But the short sellers appear to have gained the upper hand again.

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