TSX Venture Exchange

The S&P/TSX Venture Composite Index climbed 9.23 points to end at 1,196.19 points after three days of gains outweighed two days of losses. Volume would have increased noticeably if it weren’t for a scant 44.4 million shares traded on the last day of the period, bringing the overall daily trading average to 72 million shares.

Canamex Resources was the breakout star of the period after hitting 118 metres grading 4.08 grams gold per tonne from 88 metres downhole at its Bruner gold project in central Nevada. The company reported that highlight hole 1201 — which included a 2-metre intercept grading 132.5 grams gold from 139 metres downhole — is believed to be the best ever drilled at the project. On news of the hit the company’s share price climbed 29¢ to end at 39¢ for the period as the top percentage gainer, while the 46.4 million Canamex shares traded made it the most traded company as well.

Reservoir Minerals also saw a steep percentage gain after announcing an impressive intercept, climbing 39¢ to $1.04 with 2.9 million shares traded on hole 1210 from its Timok project in Serbia. The vertical hole returned 266 metres grading 1.07% copper and 0.28 gram gold from 598 metres downhole, and included a 9-metre intercept grading 5.33% copper and 0.6 gram gold, and 6 metres averaging 4.37% copper and 0.85 gram gold. Results from 1,183 metres to 1,947 metres of the hole have yet to be released. Freeport-McMoran Copper & Gold has an earn-in agreement for up to 75% of the project.

Goldquest Mining was second behind Canamex in volume with 19.4 million shares changing hands after the company announced results from a second hole at its Romero discovery in the Dominican Republic’s northwest. Hole 92 — a 25-metre stepout, and the first follow-up from discovery hole 90 — returned 159 metres grading 4.45 grams gold and 0.95% copper from 213 metres depth, as well as two shallower intercepts. The company’s share price climbed from 50¢ at the end of June to 98¢ in anticipation of follow-up results, and popped a further 22¢ to reach $1.20 on the day the results were released before slipping back down to 99¢ at the end of the period, for an 11¢ gain.

Based close to Goldquest in the Dominican, Unigold also released captivating results, including 77 metres grading 3.81 grams gold in a 100-metre stepout hole. The news encouraged a 14¢ gain at 44¢ at one point, before ending up 4¢ at 34¢ with 8 million shares traded. The company is drilling 100-metre stepouts at its Candelones project.

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