Vancouver Stock Exchange Toltec, Albany, Adrian busy

With gold holding its own above the US$380 level, the Vancouver Stock Exchange continues to be in a state of siege. The Composite Index registered a drop of just over 11 points finishing Nov. 13 at 510.57. The Resource Index fared much worse, falling almost 40 points to settle at 527.87.

From a level of about 100 million shares per week this summer, volume has virtually halved, sitting at about 55 million shares per week.

The low volumes are not likely helping stock brokers in Vancouver, however.

Topping the most active list this week was Toltec Resources with just over 1.3 million shares traded. The issue closed the period up 35 cents at $1.50. The company recently started an exploration program on the Gold Basin property in Mohave Cty., Ariz. The program includes geochemical, geophysical and geological surveys as well as drilling.

The company’s partner on the property, Consolidated Rhodes Resources, was up 10 cents on the week, closing at $1.30.

Albany Resources was also active, trading over one million shares, up 50 cents at $1.45. The company is involved in oil and gas exploration.

A jump in the price of Adrian Resources today, Nov. 14, initiated a release from the company stating it was not aware any reason for the activity. The issue reached a high of $1.80 from its Nov. 13 close of $1.38.

The visual report of a 203-ft. intersection of lead-zinc-sulphide mineralization on the company’s Rossland property did not help Antelope Resources, the issue dropping a nickel to finish at 15 cents.

Prime Resources took a tumble over the week, falling 60 cents to finish at $3.90.

Loki Gold recently released drilling results from the Brewery Creek project near Dawson City, Y.T. Loki is earning a 49% interest in the property from Noranda. The drilling returned a number of wide, low-grade gold intercepts as well as some in the 0.20-oz.-per-ton range. Loki lost a penny over the period closing at 69 cents.

Avondale Resources recently completed its exploration program on the Forrest Kerr project northwest of Stewart, B.C. Drilling generally returned wide low-grade gold intercepts. Avondale finished the week down a penny at 26 cents.

Columbia Gold Mines finished the week up a dime at 50 cents. The company’s 1990 drilling program on the Spectrum property has outlined a number of high-grade, structurally controlled gold zones along with disseminated low-grade gold- copper mineralization.

Dragoon Resources did well over the period, adding 35 cents to finish at $1.25. The company is exploring the David/Lew claims near Cranbrook, B.C., in a joint venture with Greenstone Resources. A drilling program is testing the downdip extension of a gold-mineralized structure uncovered on surface by trenching.