FRANCO NEVADA SAYS STOCK RISE DUE TO DRILLING
<Franco Nevada Mining Corp Ltd> said
the gain in its stock price today is related to deep drilling
being conducted by American Barrick Resources Corp <ABXFF> at
the Goldstrike claims in the Carlin camp in northern Nevada.
    Franco Nevada stock is up two at seven dlrs per share on
the Toronto Stock Exchange.
    Franco Nevada said American Barrick announced on March nine
that the drilling indicated a number of significant
intersections of sulfide gold mineralization below a depth of
about 1,000 feet.
    One vertical drill hole intersected gold continuously from
1,100 feet to 1,730 feet averaging 0.30 ounces per ton, the
announcement said.
    Extensive drilling continues at Goldstrike, the company
said, adding that the full economic value of the property
cannot be assessed until further results are available.
    Franco Nevada said it has a four pct royalty plus a five
pct net profit interest on the acreage. Those holdings are part
of more than 3,400 acres of mineral rights held by Franco
Nevada in the Carlin gold belt.
 Reuter
