STOCK MARKETS — Western markets dance the cucaracha

The Vancouver Stock Exchange composite index rose 15.77 points, or 1.18%, over the report period ended March 11, closing at 1347.18. The resource index rose was up just a notch, adding 4.6 points, or 0.18%, to close at 2518.48.

Mexican explorer Francisco Gold took a breather, gaining 30 cents over the week to close at $30.60. Shares soared $13.30 in heavy trading following impressive drill results from the company’s wholly owned Sauzal gold property in Chihuahua state.

Francisco was also the most active mining issue on the exchange, with 2 million shares changing hands over the report period.

Arizona Star Resource rose $1.15 over the report period to finish at $11.90.

The company is expecting results from the 70,000-metre diamond drill program on its Cerro Casale joint venture in Chile. Arizona Star holds a 51% interest in the property, while Bema Gold, which also owns 31.7% of Arizona, owns the remaining 49%.

Based on the drilling, the Vancouver junior also expects to release a geological resource calculation by April. Four diamond drills are now turning on the property.

St. Jude Resources leapt $1.90 to close at $4.50 — a gain of more than 70% — after trench results were reported from the Seikrom target on the Hwini-Butre concession in Ghana, West Africa. Assays from channel sampling included 115 metres grading 7.6 grams gold, including 85 metres of 7.15 grams gold.

St. Jude is mobilizing a diamond drill rig to the property and intends to begin drilling before the end of the month.

Shares of Pacific Sentinel Gold, which have long traded in the 90 cents range, jumped 23 cents over the report period to close at $1.15 — a gain of 20%. The stock reached a high of $1.30 in intra-day trading, with 351,200 shares changing hands over the week.

Pacific Sentinel is part of the group of companies run by Robert Hunter and Robert Dickenson of Farallon Resources, and many members of the Farallon board are also Pacific Sentinel directors. A company spokesman attributed the rise to “market anticipation on the acquisition of a new project.” Pacific Sentinel is evaluating six properties and plans to make a decision in the next 2-3 months.

Avalon Ventures announced assay results from the first three holes of a 10-hole program at its Dubenski gold project near Kenora, Ont. The issue posted a 14.3% gain, up 19 cents to close at $1.52.

Booker Gold reported that drill results from its wholly owned Herne Hill property, near Smithers in northwestern British Columbia, continue to expand the resource. The ssays included 125 metres grading 0.83% copper, 12.2 metres of 2.9% copper and 0.63 gram gold, and 3 metres of 4.6% copper and 1.4 grams gold. Booker was up 15 cents to close at $2.55.

Abacaus Minerals announced plans for a first phase of exploration at its Niblack deposit in Alaska, and signed a letter of intent with Barrick Gold to acquire six properties in Argentina. The issue closed at $1.20, up 6 cents.

The largest percentage increase over the week was posted by Weda Bay Minerals, up 160% for a gain of $1.60, closing at $4.10. The company is exploring for nickel and cobalt prospects in Indonesia.

Other gainers were Consolidated Pine Channel, up 40 cents to 72 cents, diamond and gold explorer Nu-Apex Energy,

up $1.16 to close at $2.04, and Spur Ventures, up $1.30 to $2.

Mexican explorer Valerie Gold continued its fall over the report period, losing $1.90, or 34%, to close at $3.65. The company blamed the fall on an evaluation of the company by analyst David Mallalieu of Nesbitt Burns.