TSX Venture falls during June 13-17 trading week

The S&P/TSX Venture Composite Index fell 64.32 points or 10% to end at 640.38. 

Shares of Eloro Resources bucked the trend, rising 38¢ to $3.99 apiece as the company announced drill results from its Iska Iska silver-tin polymetallic project in southern Bolivia. Highlights from the drilling included 88.7 metres grading 10.74 grams silver per tonne and 1.01 grams gold starting from 319.4 metres in hole DSBS-02; and 12 metres grading 10.67 grams silver starting from 363.6 metres in hole DPC-09. Overall, the company has completed about 60,000 metres of drilling to date. Bill Pearson, the company’s executive vice-president of exploration said that the drilling has defined a higher-grade zone greater than 90 grams silver equivalent per tonne that so far measures roughly 750 metres along strike, 650 metres in width and extends to a depth of at least 750 metres. The deposit is open in all directions.  

Shares of Gold Bull Resources rose 47.4% to 14¢ as the company reported drill results from its Sandman project in Humboldt County, Nev. Highlights from the two drill holes completed at Silica Ridge included 83.8 metres grading 1.5 grams gold per tonne from surface in hole SA-0052 and 47.2 metres grading 1.54 grams gold from 1.5 metres in hole SA-0044. “The consistency of high-grade oxide mineralization over tens of meters at Silica Ridge is very encouraging and is reason to investigate near-term production scenarios at Sandman,” said Gold Bull CEO, Cherie Leeden. “The high-grade intervals in these two holes… indicates sweet spots that will be investigated in a scoping study for potential mine start-ups.” In December 2020, Gold Bull purchased the Sandman project from Newmont. The project’s resource totals 18.5 million tonnes grading 0.73 gram gold for 433,000 oz. gold in the indicated category and 3.2 million tonnes grading 0.58 gram gold for 60,800 oz. gold in the inferred category.  

Shares of Metals Creek rose 44% to 18¢ after the company reported diamond drill results from its Dona Lake gold project in Ontario on June 9. Highlights from the drilling included 11.33 metres grading 6.38 grams gold per tonne starting from 531.8 metres, including 2.5 metres grading 36.21 grams gold starting from 558.6 metres in hole DL22-09. “Hole DL22-029 continues to demonstrate the continuation of high-grade gold mineralization within the main zone stratigraphy, below the 455 level of the past-producing Dona Lake gold mine,” the company said. Mineralization is hosted within a silicate sulphide iron formation with 0.5-25% pyrrhotite and local pyrite with associated grunerite and garnets, it added. The project, which covers about 11.2 sq. km was acquired from Newmont and is accessible by an all-weather road southeast from the town of Pickle Lake.