Montreal Exchange Fontana strike

The partners in the Fontana gold project northwest of Val d’Or, Que., announced another encouraging drill intersection: 125 ft. of (uncut) 0.51 oz. gold per ton. The strike, they say, was along a wedged extension of a previously announced hole. Trading 421,100 shares, Jilbey Exploration slipped 5 cents to 54 cents; St. Genevieve Resources jumped 30 cents to $1.55 on 178,800 shares. The two other partners are Bay Resources and Services and Exploration Duverny. General trading was off for the week ended March 27, with the market portfolio down by almost 25 points and the mining and minerals index in decline by more than 76 points. Daily trading volumes were steady, ranging between 5.1 million and 6.7 million shares.

In the midst of a 6-month, $2- million exploration program on gold property at Val d’Or are Goldex Mines and Ormico Exploration. The work includes testing of the Goldex extension zone. Trading 5,900 shares, Goldex was off by 59 cents to $3.90. Ormico lost 4 cents to $1.69 with 460,000 shares changing hands.

Active to the tune of 719,800 shares was Societe d’Exploration Miniere Vior, which is awaiting new drill results from its Douay gold play in Quebec’s Casa Berardi region. Vior gained 25 cents to $1.29. Project partner Inco was down $1.75 to $30.25 on a volume of 460,600, while third partner Cambior tumbled $1.75 to $15.75 on 280,500 shares.

Radisson Mining Resources, which fell 4 cents to 47 cents on 115,300 shares, reports recovering 2,820 oz. gold from a bulk sample extracted from the Duquesne mine project, north of Rouyn-Noranda, Que.

Near Matagami, Que., VSM Exploration and Serem-Quebec report probable and possible reserves of more than 6.1 million tonnes from two zones of their Grevet M polymetallic deposit. Additional zinc-copper-silver tonnage has been indicated at the nearby Grevet B deposit. Trading 159,500 shares, VSM moved up 9 cents to 85 cents.

Armistice Resources reports uncovering visible gold in an exploration crosscut being driven to facilitate bulk sampling of the Sheldon 185N zone at the company’s Virginiatown, Ont., property. Armistice dropped 3 cents to 26 cents on 191,100 shares.