With exploration action heating up in the Harker-Holloway area of northern Ontario, Card Lake Resources gained 1 cents to close at 33 cents on volume of 17,200 shares. American Barrick has an option to earn a 100% interest in Card Lake’s Harker Twp. property, 2.5 miles west of the Holt-McDermott gold mine. Results from a winter drill program are awaited. .T Meanwhile, the shares of Teddy Bear Valley Mines were active at the $1.20-1.35 level. The Toront o- based junior, run by a former Newmont geologist, is participating in a joint venture operated by Noranda Exploration. Encouraging results were released last week by Montreal-listed Freewest Resources, Noranda’s other partner in the joint venture. For the week ended Jan. 16, Teddy Bear closed at $1.20 after six transactions.
Louvicourt Gold Mines was steady at 35 cents , following the resumption of surface and diamond drilling at its gold property, 14 km east of Val d’Or, Que.
Milestone Resources was active in the 16-20 cents range on a volume of 76,000 shares. Milestone closed at 17 cents after nine transactions. The company raised $450,000 in flow- through funds earlier this month. Plans are to spend the money on a grassroots gold prospect at Shabumeni Lake, 60 miles northeast of Red Lake, Ont., and on a nickel prospect, 150 miles northeast of Winnipeg, Man.
Pelangio-Larder Mines added 3 cents to its share price of 38 cents on a volume of 29,500 shares. The company has interests in several grassroots gold prospects in Ontario.
The shares of Costigan Gold moved up 10 cents to close at 80 cents after six transactions. Costigan is drilling a polymetallic property in New Brunswick.
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