A week of losses all but erased the gains the S&P TSX Venture composite index had made in the first two weeks of the new year — over the Jan. 19-25 trading period the board lost 58.87 points to close at 1546.85.
Lots of investors took part in the action, pushing the average daily trading volume to 130.7 million.
Meanwhile, 112 Venture-listed companies reach new 52-week share price highs over the week while only 22 fell to new lows.
One of the week’s volume leaders and top gainers was First Gold Exploration, which moved 25.6 million shares to close up 37¢ at 63¢. Nine of 13 drill holes at its Pivert-Rose lithium property in Quebec hit mineralization, outlining two new, near-surface, parallel zones. Assays are only available for one hole, which cut four intercepts including 4.8 metres grading 1.03% lithium dioxide, 2,923 grams rubidium per tonne, and strong tantalum, niobium, and beryllium. First Gold also assayed grab samples from a new surface showing, which returned strong lithium and rare earth metal grades.
More strong drill results from the Ghanzi copper-silver project in Botswana pushed Hana Mining up 37¢ to $1.75. The company is extending mineralization along strike and confirming grades in infill gaps; when the task is complete the Banana zone will stretch for 10.7 km. Recent results from the lower-grade South Limb area include 15 metres grading 1.21% copper and 16.8 grams silver per tonne and 11 metres of 1.04% copper and 12.4 grams silver.
San Gold’s share price saw a correction over the week despite the release of more high-grade gold assays from the Rice Lake mine in Manitoba. Underground drills hit new zones parallel to the 98 vein, returning 37 grams gold over 12.2 metres, and the 98 vein yielded the best chip sampling result from the mine to date, averaging 909 grams gold over 3 metres. Nevertheless, San Gold’s shares fell 25¢ to $3.50.
An initial resource estimate for the White Gold project in the Yukon failed to impress investors, who pushed Underworld Resources’ share price down 8¢ to $1.70. The Golden Saddle zone is now home to 9.7 million indicated tonnes grading 3.19 grams gold plus 4.1 million inferred tonnes averaging 2.33 grams gold within a conceptual open pit; potential underground resources add roughly 100,000 contained ounces to bring the total to 1.4 million oz. At the Arc zone drilling has defined 4.3 million inferred tonnes grading 1.21 grams gold, which fall into an open pit design.
And an initial estimate resource for the South zone at Serengeti Resources’ Kwanika project in central B.C. pegged inferred resources at 129 million tonnes grading 0.3% copper, 0.09 gram gold, 1.76 grams silver, and 0.01% molybdenum. The Central zone already hosts 189 million indicated tonnes grading 0.29% copper and 0.28 gram gold plus 29 million inferred tonnes grading slightly lower. On the news Serengeti’s share price fell 5¢ to 31.5¢.
TSX-V most active issues | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Alix Res | AIX | 26946 | 0.10 | 0.04 | 0.07 | + 0.03 |
First Gold Exp | EFG | 25617 | 1.03 | 0.21 | 0.63 | + 0.36 |
Freewest Res | FWR | 19954 | 0.98 | 0.88 | 0.90 | -0.07 |
Largo Res | LGO | 14599 | 0.28 | 0.24 | 0.26 | + 0.01 |
Blue Note Mng | BNT | 13934 | 0.26 | 0.13 | 0.19 | + 0.02 |
Avion Res | AVR | 11195 | 0.75 | 0.60 | 0.62 | -0.11 |
Great Western | GWG | 10669 | 0.31 | 0.25 | 0.27 | -0.03 |
Great Quest Me | GQ | 9280 | 0.16 | 0.12 | 0.12 | + 0.01 |
San Gold Res | SGR | 8753 | 3.92 | 3.23 | 3.50 | -0.25 |
Sandstorm Res | SSL | 7667 | 0.65 | 0.55 | 0.57 | -0.01 |
TSX-V greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
First Gold Exp | EFG | 25617 | 1.03 | 0.21 | 0.63 | +133.3 |
Fission Energy | FIS | 4757 | 0.40 | 0.17 | 0.37 | + 94.7 |
Firesteel Res | FTR | 192 | 0.14 | 0.08 | 0.11 | + 83.3 |
Alix Res | AIX | 26946 | 0.10 | 0.04 | 0.07 | + 75.0 |
Kenai Res | KAI | 102 | 0.25 | 0.16 | 0.25 | + 66.6 |
Foran Mng | FOM | 205 | 0.05 | 0.04 | 0.05 | + 66.6 |
Oriental Mnls | OTL | 681 | 0.30 | 0.16 | 0.23 | + 64.2 |
Chilean Gold | CHN | 492 | 0.60 | 0.27 | 0.55 | + 52.7 |
Meritus Mnls | MER | 121 | 0.12 | 0.08 | 0.12 | + 50.0 |
Diadem Res | DRL | 621 | 0.08 | 0.05 | 0.06 | + 50.0 |
Atlantic Ind M | ANL | 20 | 0.04 | 0.04 | 0.04 | -60.0 |
Pelangio Expl | PX | 3751 | 0.54 | 0.22 | 0.32 | -39.6 |
Arcturus Res | AZN | 17 | 0.05 | 0.04 | 0.04 | -33.3 |
Adroit Res | ADT | 10 | 0.09 | 0.08 | 0.08 | -33.3 |
Majescor Res | MJX | 217 | 0.29 | 0.18 | 0.22 | -31.2 |
Rome Res | RMR | 39 | 0.34 | 0.25 | 0.25 | -30.5 |
Amazon Mng | AMZ | 1296 | 2.96 | 1.94 | 1.96 | -30.2 |
Silver Spruce | SSE | 4107 | 0.17 | 0.10 | 0.10 | -28.5 |
Tinka Res | TK | 191 | 0.29 | 0.20 | 0.20 | -28.5 |
La Quinta Res | LAQ | 379 | 0.10 | 0.08 | 0.08 | -27.2 |
TSX-V greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
Clifton Star | CFO | 3223571 | 6.00 | + 0.59 |
Hana Mng | HMG | 4809227 | 1.75 | + 0.38 |
First Gold Exp | EFG | 25617452 | 0.63 | + 0.36 |
Macarthur Mnl | MMS | 129484 | 1.28 | + 0.27 | Lions Gate Mtl | LGM | 42550 | 1.43 | + 0.23 |
Chilean Gold | CHN | 492023 | 0.55 | + 0.19 |
Fission Energy | FIS | 4757438 | 0.37 | + 0.18 |
AfricanAuraM | AUR | 94871 | 1.32 | + 0.12 |
Noront Res | NOT | 2966570 | 1.81 | + 0.12 |
SilverCrestMn | SVL | 1653462 | 1.00 | + 0.11 |
Amazon Mng | AMZ | 1296023 | 1.96 | -0.85 |
East Asia Mnls | EAS | 1915460 | 3.27 | -0.83 |
Maudore Minls | MAO | 348601 | 3.70 | -0.50 |
Rainy River Rs | RR | 1621856 | 4.86 | -0.40 |
Energold Drill | EGD | 501573 | 2.36 | -0.36 |
Anooraq Res | ARQ | 1073453 | 1.28 | -0.35 |
Galway Res | GWY | 3010411 | 1.18 | -0.30 |
Quaterra Res | QTA | 159943 | 1.88 | -0.28 |
Canadn Shield | EXP | 39663 | 1.60 | -0.27 |
Mirasol Res | MRZ | 1432538 | 1.93 | -0.27 |
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