Alberta Stock Exchange Storimin gains 12 cents

A handful of junior gold mining stocks managed to shake their lethargy and post modest gains for the week ended May 15. Among the advancing issues was Storimin Explorations which holds a 50% stake in the Moss Lake gold project under option to Central Crude in northwestern Ontario. A preliminary reserve estimate of 1.1 million tons grading 0.20 oz. gold per ton was reported recently for the project and more drilling is planned. Storimin traded 131,200 shares to close at 47 cents for a gain of 12 cents on the week. Several juniors with gold properties in the western U.S. were also slightly better this week. Gaining 11 cents on volume of more than one million shares was Savanna Resources which closed at 49 cents. Savanna has been seeking a joint venture partner for its gold-copper- zinc property in Oregon.

BRE-X Minerals traded 59,500 shares for a gain of 1 cents to close at 55 cents. The company is working on a gold property in northwestern Arizona with three past-producing mines and remaining reserves of 1.3 million tons grading 0.22 oz. gold. BRE-X also has gold properties in the Northwest Territories and Quebec’s Casa Berardi area.

Unchanged at $1.40 was BMR Gold, a Vancouver-based junior mining company that’s working on the America mine project, midway between Las Vegas and Palm Springs.

After completing the first phase of exploration on its Harquahala gold project in western Arizona, Gold Vessel Resources shed 9 cents to close at 75 cents on thin volume of 13,000 shares. To date, 5.6 million tons of probable oxide reserves grading 0.054 oz. gold have been identified. Another 11 million tons grading 0.052 oz. gold are also reported in the possible category. There is still potential for additional reserve development, the company says.

With more work planned on its Summit joint venture project in New Mexico, Biron Bay Resources moved 5 cents higher to $1 on volume of 96,000 shares. The project has a drill-inferred tonnage of 800,000 tons grading 0.177 oz. gold.

Integrated Resources traded 269,000 shares, but remained unchanged at 37 cents. The company has a gold property in the Telegraph Creek area of northwestern British Columbia.