COATS (over-the-counter) Black Gregor active (February 12, 1990)

Shares of Black Gregor Explorations have been trading actively at around the 59 cents level recently as the company’s gold prospect 10 miles north of Marathon, Ont., has caught the eye of some senior mining companies. Black Gregor President Robert Platt said Teck, Corona and Noranda have all requested permission to inspect and evaluate drill core from the property. Black Gregor acquired the property back in 1982, and nearly 30,000 ft. of drilling have been completed to date, with visible gold encountered in some of the core. After posting a gain of 7 cents to trade up to the 47 cents level, Louvicourt Gold Mines said a recent 160-ft. sulphide intersection obtained on its Val d’Or, Que., property did not contain economic concentrations of base metals. The core is being sent for assay, and a second hole is being drilled through the sulphide zone, which occurs in a brecciated chert- rhyolite, below an andesite contact.

Recently trading at the 15 cents level, Tyranex Gold has raised $135,000 through a private placement of 365,000 shares at 41 cents per share. The funds are being used to pay down the company’s debt.

Golden Tanager remained firm at 50 cents after acquiring a 50% interest in Power Exploration’s Karl- Zeemel and Norman Lake properties in northern Ontario. Golden Tanager plans to conduct exploration on the gold properties this year.

The bid-ask for Peat Resources is at 26-34 cents . This junior company is hoping to develop peat as a substitute for coal used in thermal generating stations. Test burns are being conducted in conjunction with the research facilities of Ontario Hydro. Funding is coming from partner companies Inco and Corona as well as the Ontario government.