The Canadian Venture Exchange broke the 3,000 mark and continued its upward momentum over the week ended Feb. 8, rocketing 248.97 points, or 8.5%, to close at 3,166.88.
Ateba Mines jumped 7 to close at 11. The junior holds the Walmsley Lake diamond property, which adjoins the Mountain Province-Monopros AK-CJ claims in the Northwest Territories. The Mountain Province property hosts four prospective diamond-bearing kimberlite pipes.
Rock Resources jumped 11 to close at 54. The junior is getting ready to drill the Coiron copper-gold project in Chile.
Idaho Consolidated Metals tacked on 18 to close at 68. The company says it has hired Alistair Turner as a consultant on the platinum-palladium properties in the Stillwater complex of Montana. Idaho Consolidated also has a joint venture with Toronto-listed Kinross Gold on the Petsite gold project in Idaho. The property hosts a drill-indicated resource of 16.7 million tons grading 0.032 oz. gold per ton. Kinross is the successor to Cyprus Amax in the venture.
Cantex Mine Development finished the week at 65, up 15. The Charles Fipke-led junior broke out of its narrow trading range yesterday without the benefit of official developments. Investors are awaiting the drill results from the Al Hariqah gold prospect, as well as the first two holes at Suwar, in Yemen.
Gabriel Resources closed at $2.80, up 15. The gold explorer is in the midst of a feasibility study on its Rosia Montana property in Romania.
Hunter-Dickinson-led Great Basin Gold added 23 to its value and closed at $2.65. The company is drilling the low-grade Ivanhoe gold property in Nevada in an attempt to locate a high-grade deposit at depth.
Winspear Resources lost 16 to close at $1.97. Bearish sentiment toward the recent government holdup over the Diavik diamond project, north of Snap lake, seems to be contagious. Winspear holds a 67% interest in the Camsell Lake project in the Northwest Territories, with the remainder held by Toronto-listed Aber Resources.
Patricia Mining is completing the acquisition of the Island gold project in the Sault Ste. Marie area of Ontario. The junior recently announced a near-surface resource of 106,000 tonnes grading 8.2 grams gold per tonne at the Island project. Patricia closed at $1.65, up 35.
Spider Resources found a penny to close at 14. The junior plans a 14-hole drill program on its James Bay Lowlands project, a joint venture with CDN-listed KWG Resources. The initial phase will focus on the Kyle 3 kimberlite body.
Savanna Resources jumped 3 to close at 5. The company said it was unaware of any material changes that would account for the recent market activity. Savanna owns the Turner-Albright gold-copper-zinc-silver-cobalt deposit in Oregon. It is reported to host a resource of 2.8 million tonnes grading 3.74 grams gold and 19.84 grams silver per tonne, plus 1.61% copper, 3.66% zinc and 0.05% cobalt.
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