Only one day in the red allowed the S&P/TSX Venture composite index to gain 24.32 points over the March 2-8 trading period to end the week at 1561.93. Daily trading volumes were up significantly compared to the previous week, averaging 114 million.
The rising tide lifted venturing bulls ahead of bears, as 76 Venture-listed companies reached new 52-week share price highs while 57 juniors fell to new yearly lows.
One company reaching a new high was Gold Bullion Development, which gained 13.5¢ to reach 25¢. The junior is exploring the historic Granada mine property in Quebec, 65 km west of Osisko Mining’s Canadian Malartic mine, and drills have been pulling impressive initial intercepts such as 99.2 metres grading 0.95 gram gold per tonne and 65.5 metres of 1.21 grams gold. Gold Bullion was also the most heavily traded stock on the Venture board, moving almost 30 million shares over the week.
Another gold explorer, Trelawney Resources, doubled its share price on impressive initial drill results. Trelawney is working through its first drill program at the Chester gold project, which is between Timmins and Sudbury in northern Ontario, and recently announced hits including 68.1 metres of 2.04 grams gold, 107 metres of 8.2 grams gold, and 57.3 metres of 2.49 grams gold. The company’s share price ended the week up 51¢ at $1.04.
The major gains on drill results did not end there. Tasman Metals added 76¢ or 183% to its share price to reach $1.17 on news of a 108-metre intercept grading 0.74% total rare earth oxide (TREO) from its Norra Karr project in Sweden. Four of the first five holes drilled at Norra Karr intersected wide intervals of rare earth element plus zirconium mineralization.
The opposing forces of fantastic initial drill results and a suspended drill permit have sent Dorato Resources’ share price on a rollercoaster ride lately. In early March, the ride was mostly upwards as the Peruvian government appears to move towards reinstating the suspended permit, and a re-assay of a high-grade interval in hole 12 returned 18 metres of 41.58 grams gold and 46.9 grams silver per tonne. Dorato shares gained 47¢ to reach $1.19.
Hana Mining’s share price continued its steady ascent on results from another nine drill holes from its Ghanzi sediment-hosted copper-silver project in Botswana. Eight holes returned significant mineralization, including 11 metres of 1.36% copper and 12.5 grams silver. Hana shares climbed 37¢ to end the week at $2.09.
After a set of disappointing drill results from the Ojo de Agua East zone at the Volcan gold project in Chile in late February, investors have become cautious of Andina Minerals and continued to push the junior’s share price down, despite a new set of much stronger results from a different zone. The Dorado West area returned 192 metres grading 0.92 gram gold and 250 metres of 1.05 grams gold, among other results, but Andina closed the week down 16¢ at $1.16.
| TSX-V most active issues | |||||
| VOLUME | WEEK | ||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | |
| Gold Bulln Dev GBB | 29623 | 0.28 | 0.14 | 0.25 | + 0.14 |
| Explor Res EXS | 27018 | 1.62 | 0.62 | 0.66 | -0.59 |
| RomarcoMnrlsR | 15889 | 2.13 | 1.95 | 2.00 | -0.07 |
| Trelawney M&ExTRR | 14184 | 1.21 | 0.56 | 1.04 | + 0.51 |
| KWG Res KWG | 12351 | 0.08 | 0.05 | 0.08 | + 0.01 |
| Alexandria Mnl AZX | 10152 | 0.14 | 0.09 | 0.14 | -0.01 |
| Allana Res AAA | 10080 | 0.46 | 0.37 | 0.40 | -0.05 |
| San Gold Res SGR | 9747 | 3.59 | 3.28 | 3.29 | -0.22 |
| Spider Res SPQ | 9514 | 0.07 | 0.05 | 0.07 | + 0.01 |
| Newcastle Mnls NCM | 9164 | 0.12 | 0.08 | 0.10 | + 0.02 |
| TSX-V greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Mazorro Res | MZO | 195 | 0.25 | 0.14 | 0.15 | +200.0 |
| Tasman Metals | TSM | 4946 | 1.50 | 0.43 | 1.17 | +178.5 |
| Gold Bulln Dev | GBB | 29623 | 0.28 | 0.14 | 0.25 | +127.2 |
| Northern Tiger | NTR | 5889 | 0.16 | 0.08 | 0.14 | +100.0 |
| Trelawney M&Ex | TRR | 14184 | 1.21 | 0.56 | 1.04 | + 96.2 |
| Crown Mnls | CWM | 267 | 0.22 | 0.14 | 0.19 | + 72.7 |
| Anglo-Bomarc | ANB | 68 | 0.16 | 0.09 | 0.12 | + 71.4 |
| Dorato Res | DRI | 2441 | 1.26 | 0.72 | 1.19 | + 65.2 |
| Kenai Res | KAI | 54 | 0.24 | 0.19 | 0.24 | + 60.0 |
| Cascadia Res | CCR | 14 | 0.08 | 0.08 | 0.08 | + 60.0 |
| Explor Res | EXS | 27018 | 1.62 | 0.62 | 0.66 | -47.2 |
| Skeena Res | SKE | 4651 | 0.05 | 0.04 | 0.05 | -44.4 |
| Canaf Group | CAF | 42 | 0.04 | 0.03 | 0.04 | -33.3 |
| Prospctr C Res | PRR | 358 | 0.03 | 0.02 | 0.02 | -33.3 |
| Sheltered Oak | OAK | 75 | 0.13 | 0.09 | 0.09 | -30.7 |
| Agau Res | AGS | 16 | 0.13 | 0.12 | 0.12 | -29.4 |
| Belvedere Res | BEL | 49 | 0.14 | 0.13 | 0.14 | -26.3 |
| Black Bull Res | BBS | 13 | 0.03 | 0.03 | 0.03 | -25.0 |
| Slam Exploratn | SXL | 967 | 0.08 | 0.06 | 0.06 | -25.0 |
| Ginguro Expl | GEG | 312 | 0.58 | 0.43 | 0.45 | -22.4 |
| TSX-V greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| Tasman Metals | TSM | 4945579 | 1.17 | + 0.75 |
| Trelawney M&Ex | TRR | 14183989 | 1.04 | + 0.51 |
| Dorato Res | DRI | 2440807 | 1.19 | + 0.47 |
| Hana Mng | HMG | 5286318 | 2.09 | + 0.37 |
| Anooraq Res | ARQ | 432518 | 1.60 | + 0.34 |
| Anfield Nickel | ANF | 157000 | 2.80 | + 0.30 |
| Clifton Star | CFO | 690837 | 8.10 | + 0.30 |
| Maudore Minls | MAO | 222165 | 4.00 | + 0.29 |
| East Asia Mnls | EAS | 2283385 | 4.30 | + 0.26 |
| Rome Res | RMR | 36077 | 0.75 | + 0.25 |
| Explor Res | EXS | 27017996 | 0.66 | -0.59 |
| Chesapeake Gld | CKG | 126199 | 9.42 | -0.28 |
| San Gold Res | SGR | 9746954 | 3.29 | -0.22 |
| Andina Mnls | ADM | 1731648 | 1.16 | -0.16 |
| Chilean Gold | CHN | 17007 | 0.55 | -0.15 |
| Ginguro Expl | GEG | 312000 | 0.45 | -0.13 |
| Fission Energy | FIS | 5451969 | 0.84 | -0.12 |
| Macarthur Mnl | MMS | 111800 | 1.49 | -0.11 |
| Canadn Shield | EXP | 42600 | 1.00 | -0.10 |
| Amato Expl | AMT | 45000 | 0.51 | -0.09 |
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