Montreal Exchange (February 17, 1992)

Drilling activity at the Douay gold property of Societe d’Exploration Miniere Vior helped to propel the stock upwards during the week ended Feb. 11. The junior, which gained 15 cents to 70 cents on almost 890,000 shares, has three rigs working at the project in Quebec’s Casa Berardi region. A new drilling program is testing ground between the previously drilled Main and West zones.

During the report period, the market portfolio slipped by 2.7 points while the mining and minerals index climbed by 8.7 points. Daily trading volumes ranged between 4.4 million and 8.6 million shares.

The ME reported that at the end of January, the market portfolio was ahead by 24 points (1.3%) compared with the beginning of the year. In the equity market, the dollar value traded in January totalled $2.29 billion, the highest level since April, 1987.

Dufresnoy, Societe d’Exploration Miniere said Teck Corp. has begun a 4-hole drill program at the BarryOr property 180 km northeast of Val d’Or, Que. Teck is earning a 43.75% interest in the property. Trading 120,600 shares, Dufresnoy moved up 2 cents to 10 cents.

Minnova has a 6-hole program in the works for a claim group in Rouyn and Beauchastel twps. in northwestern Quebec, Golden Briar Mines reports. Two rigs have been mobilized; each hole will be drilled to a minimum depth of 600 metres. Briar, trading 22,000 shares, slipped by 2 cents to 7 cents. In the Northwest Territories, Minnova has completed its purchase of the Izok Lake and Hood River properties, and a 60% interest in the Gondor property, from Falconbridge Ltd. The startup of a drilling program for Izok is planned for March. Minnova gained 75 cents to $17.75 on a slim volume of 600 shares.