Unlisted Trading (February 24, 1992)

Taking top spot on the most active list for the fifth week in a row, Canmine Resources lost 4 cents to close at 57 cents as drilling commenced on the FER copper-zinc property in northern Manitoba.

Over the past two months, Canmine has edged up from a trading range of 18-21 cents to a range of 47-63 cents for the week ended Feb. 18. Investors are betting that Canmine’s 100% owned FER property, which has so far been tested only with shallow holes, holds a bounty of base metal mineralization at depth.

Canmine says it has spotted 12 drill targets over the main FER zone, which has been traced for a strike length of 300 metres.

Drilling is also under way on White Star Copper Mines’ property next to the Kidd Creek mine at Timmins, Ont. Falconbridge, which owns and operates Kidd Creek, is making cash payments and funding exploration on the property in order to earn a 100% interest. White Star shed 5 cents to close at 70 cents. Also active was Willingdon Resources which, at last report, was planning to merge with Sandy K Mines. Sandy K has a high-grade silver and cobalt property in the Gowganda area of northeastern Ontario. Subject to financing, Willingdon plans to run a ramp down to the deposit to access the reserves. The junior edged up 10 cents to close at $1.60. Management could not be reached for comment.