MINING MARKETS & INVESTMENT NEWS – WESTERN MARKETS — Argentina Gold a mover and shaker on western market

The Vancouver Stock Exchange composite index lost 3.49 points, or 0.8%, to close the week ended Jan. 26, at 418.73. The mining index pushed forward, gaining 2.07 points, or 0.7%, and finished at 310.39.

Meanwhile, the combined value of the Alberta Stock Exchange tacked on 16.99 points, or 0.9%, and closed at 1,898.12.

Once again, Argentina Gold was a mover and shaker, rocketing 55 cents to close the week at $5.65. The company released its first diamond drill results from the Amable target. Partial results from the first 100 metres of the hole returned 31 metres averaging 42.5 grams gold and 42.61 grams silver per tonne. The Vancouver-based junior also recommended that its shareholders reject Toronto-listed Barrick Gold’s amended takeover bid of $5 cash.

Polymet Mining added 39 cents and closed at $2.80. The stock hit a high of $3.80 earlier in the week before the market started to take profits. Recently, the company inked a deal with BacTech Metallurgical Solutions to run bioleach tests on concentrate from its low-grade NorthMet polymetallic deposit in Minnesota.

Mountain Province Mining announced it would begin trading on the Toronto Stock Exchange, under the symbol MPV, before February. The diamond exploration company holds the AK and CJ claims in the Northwest Territories with joint-venture partner Camphor Ventures. Monopros has a 60% earn-in right on the properties. Mountain Province jumped 20 cents and closed at $2.40, whereas Camphor closed at 65 cents, up 13 cents.

Francisco Gold received assay results from six diamond drill holes on the West Zone of its El Sauzal gold project in Mexico. The best hole cut 114 metres averaging 5.57 grams gold, including 34 metres of 13.28 grams. Francisco Gold closed at $9.55, up 30 cents.

Winspear Resources added 8 cents and closed at $3.65. The company received microdiamond results from caustic fusion analyses taken from kimberlite drill core and two 100-tonne bulk samples. The samples were collected from the company’s 67.7%-owned Camsell Lake property in the Northwest Territories. Toronto-listed Aber Resources holds the remaining interest. These data will be used to interpret a diamond-grade estimate above a commercially acceptable stone-size cutoff.

Partners Auspex Minerals and International Vestor Resources plan to tie the knot. Each share of Auspex will be worth 0.75 of a share of the new company, the name of which has yet to be determined, whereas each share of Vestor will be valued on a 1-to-1 basis. The amalgamation will combine the companies’ interests in the Aljustrel and Estacao projects in Portugal. Together Vestor and Auspex have a 60% stake in the Estacao project and the right to acquire a 75% interest in Aljustrel. Auspex closed at 27 cents, up 4 cents, and Vestor closed at 36 cents, up a penny.

East Africa Gold tacked on 2 cents and closed at 15 cents. The company released resource estimates for its Buckreef, Kitongo and Nyakafuru projects in Tanzania.