Montreal Exchange La Pause issues active

While results of La Pause Resources’ exploration program this past winter have yet to be released, stories “on the street” suggest encouraging numbers, particularly from the Lac Tremoy and Adanac gold properties in Rouyn Twp. in northwestern Quebec. La Pause stocks closed unchanged this week at 21 cents on a volume of 742,200

La Pause, which spent about $2 million last winter exploring half a dozen properties, including the two above, is seeking to form a limited partnership to further its exploration plans.

Trading on the Montreal Exchange this week was mostly moderate, with resource issues showing increased strength towards the end of the week. General trading during May on the exchange was reported to be down more than 27% from the previous month.

Eider Resources, which closed up 15 cents to 80 cents with 501,900 shares changing hands, reported it is negotiating with Royex Gold Mining to obtain an interest in the Cullaton Lake gold property in the Northwest Territories, located 400 km north of Churchill, Man. Royex closed the week up 13 cents to $5.25 on a volume of 8,700.

Essor Resources reports it has started its 1987 exploration program on the Black Cliff property in Malartic Twp. Reserves of 170,000 tonnes grading an average 8.4 g per tonne are indicated; the company hopes to increase those reserves to more than 500,000 tonnes. Essor closed up 15 cents to 96 cents on 640,200 shares. The company also reports the 1987 exploration program has commenced on the Aiguebelle property.

Continuing its active ways, based on encouraging preliminary results from its Astoria project in northwestern Quebec, is Yorbeau Resources, which closed down 5 cents to 97 cents on a volume of 657,900.

Norbeau Mines has released fresh results from its deep diamond drilling program on gold property near Chibougamau, Que.; results of four holes not previously reported indicate grades ranging from 0.03 oz per ton on up to 0.21 oz. Norbeau closed down 4 cents to 35 cents on 25,000 shares.

Perron Gold Mines, which recently signed an agreement with Ojibway Resources to earn a 50% interest in its Ojibway property in Chaste Twp., closed unchanged at $4.85 on a volume of 179,600. Ojibway closed down 4 cents to 45 cents with 15,200 shares changing hands.

A new listing on the Montreal Exchange is Cheni Gold Mines.