TSXV moves higher, April 16-20

The S&P/TSX Venture Composite Index climbed 1.13% to end the trading week at 804.96.

Shares of Evrim Resources jumped 55¢, or 59.8%, to $1.47, on new exploration results at Cuale, its gold project in Mexico, 185 km west of Guadalajara in the Cordillera Madre del Sur.

The junior reported that results from two cross trenches showed significant widths and consistent mineralization with the La Gloria prospect, as well as high grades over shorter intervals. It also noted that a second line of induced-polarization (IP) geophysics showed a similar character to the first line and defined more drill targets. Highlights from Trench 4 included 13.61 grams gold per tonne over 106.2 metres from 29.4 metres along the trench, with 50 metres of 26.13 grams gold from 85.6 metres along the trench and 7.5 metres of 163.3 grams gold from 100.6 metres along the trench. In Trench 2, highlights comprised 2.94 grams gold over 29.4 metres from 2 metres along the (entire length of the) trench, including 17.9 metres grading 4.55 grams gold from 11.5 metres along the trench. The second IP line, 500 metres north of the first line, defined a 1,200-metre-long by 50- to 120-metre-deep, highly resistive ledge associated with strong silification and minor anomalous gold at surface, and a deeper feeder target.

Canadian Platinum advanced 66.7% to 3¢ after the company reported that it had staked 30 more mineral lode claims on the Whiskey Flat copper-zinc-cobalt project in Nevada, and that the claims have been recorded with the Bureau of Land Management (BLM). The new staking surrounds the mineral claims that host the former producing Quailey mine. Canadian Platinum’s exploration focus at Whiskey Flat will be to delineate replacement-type, copper-zinc-cobalt mineralization found underground in the Quailey mine located on the property. The company can earn a 50% stake in the project and plans to explore the property in May.

Maya Gold & Silver’s shares fell 24¢ to $2.57. Maya completed an oversubscribed, non-brokered private placement of $28.4 million, issuing 8.61 million common shares at $3.30 per share — a 32% premium to its closing price on April 10. (No warrants were issued.) The net proceeds will help develop and expand its Zgounder silver mine in Morocco. The company plans to build its second mine at Zgounder, which will involve new infrastructure, including an open pit and building a processing plant that could boost production capacity to 2,000 tonnes per day by 2021.