Vancouver — Canada’s junior exchange managed to post a modest gain over the week ended Feb. 12. The Standard & Poor’s-CDNX composite index tacked on 11.54 points, or 1%, to close at 1152.87.
Samex Mining was the volume leader, with 3.2 million shares changing hands. The junior, which ended the week up 5 to 19, has been seeking a joint-venture partner for the Eskapa Core zone in Chile.
ECU Silver Mining closed flat at 2 on a volume of 2.5 million shares. The company holds the Velardena mine property in Mexico, where total resources are pegged at 2.5 million tonnes grading 2.8 grams gold and 269 grams silver per tonne.
Alexis Resources lost 3 and closed at 12 with 2.4 million shares changing hands. The company recently dropped the Newmac copper-gold property in the Chilcotin area of British Columbia and is now in discussions to acquire some ground in the Otish Mountains kimberlite play in northern Quebec.
National Gold ended the week up 3 to 35 on a volume of 2.2 million shares. The Albert Matter-led company is in the midst of a $600,000 financing, while its joint-venture partner, Alamos Minerals, is busy drilling the Salamandra gold property in Mexico. Alamos ended the week up 3 to 43 on light volume.
Madison Enterprises added 3 to its value and closed at 13, with 1.9 million shares traded. The cash-strapped junior holds the rights to the Mt. Kare gold property in Papua New Guinea.
TNR Resources jumped 11 and closed at 19 on 1.9 million shares. The company intends to advance the Ortiga gold project in Argentina’s San Juan province.
Shares in Rubicon Minerals dropped 19 and closed at 93 on a volume of 1.6 million shares. The junior announced that drilling has resumed on the Red Lake property in northern Ontario — a joint venture with Anglogold.
Marum Resources lost 3 and closed at 12 on the exchange of 1.5 million shares. The company is poised to begin drilling on Anomaly 7 at the Birch Mountain diamond property in northern Alberta.
Starfield Resources lost a dime and closed at $1.02 on 1.5 million shares. The company has hired a financial advising house to determine options for its Ferguson Lake copper-nickel-platinum-palladium project in Nunavut. Drilling there is expected to resume shortly.
Strongbow Resources lost a penny and closed the week at 22 on 1.4 million shares. The junior has inked deals to earn an 85% interest in the JR diamond claims in the Coronation Gulf area of Nunavut.
Gold Summit Mines closed up 2 to 21 with just over 1.3 million shares traded. The company announced a $120,000 financing and picked up several land packages totalling 300 sq. km in the Otish Mountains area.
Vannessa Ventures jumped 73 to close at $1.88 on a volume of 1.3 million shares. The stock has surged over the past two weeks on the back of higher gold prices. Vanessa recently obtained an exploitation permit for its wholly owned Crucitas gold project in Costa Rica.
Olympus Pacific Minerals tacked on 4 and closed at 79 with 538,000 shares traded. Recently, the junior discovered a high-grade zone of gold mineralization at Khe Rin prospect, part of the Phuoc Son project in central Vietnam.
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