Venture Exchange buoyed by strong high-tech sector

Canada’s junior stock market blew past the 3,800-point level for the first time, helped by a strong technology index. The Canadian Venture Exchange tacked on 260.35 points, or 7.3%, during the report period ended Feb. 29 and closed at an all-time high of 3,828.30. The mining index surged 295.01 points, or 8.3%, to close at 3,850.02.

Golden Peaks Resources jumped 59 to close at $2.07 on 8.3 million shares. The junior completed a $255,000 financing and is now drilling the Sierra de las Minas gold property in Argentina.

Shore Gold rose 22 to close at $1 and saw 6.1 million shares change hands. The junior diamond explorer announced that the first two holes of a planned 10-hole program on its Star diamond property in Saskatchewan hit kimberlite. Hole 1 cut 46.5 metres of the main kimberlite zone, whereas hole 2 hit 26.2 metres of the zone.

International Wayside Gold Mines rose 25 and closed at 58 on a volume of 2.7 million shares. The company intends to develop its Cariboo Gold Quartz project, near Wells in central British Columbia. The deposit has a measured, indicated and inferred resource of 11 million tons grading 0.098 oz. gold per ton, or 1 million contained ounces, based on a cutoff grade of 0.02 oz. per ton. International Wayside has submitted an application to British Columbia’s environmental assessment office for a 3,000-ton-per-day open pit and underground mining operation.

Rock Resources closed at 70, up 22, and saw 35.3 million shares changing hands. The junior announced it will seek $900,000 in financing by way of convertible debentures and loans from European investors. Rock is currently drilling the prospective Coiron copper-gold prospect in Chile.

After announcing an update on the Piteiras emerald property in Brazil’s Minas Gerais state, Seahawk Minerals jumped 10 to close at $2.20 on a volume of 3.4 million shares. The junior has completed 18 holes of a 21-hole second-phase program designed to outline the emerald-bearing Blackwall zone. To date, the company has intersected the zone over a 400-by-200-metre area with an average thickness of 2.5 metres. The highest emerald counts from drill core include 176.46 carats in hole 21.

LMX Resources tacked on a nickel after announcing plans to earn a half-interest in the Buck Lake platinum-palladium property, north of Thunder Bay, Ont. To complete the earn-in, it must spend $350,000 on exploration, make cash payments totalling $122,500 over three years and issuing 100,000 shares to the vendor, Buck Lake Ventures. LMX finished the week at 35 on a volume of 3.9 million shares, whereas Buck Lake remained steady at 42 on light volume.

IMA Exploration closed at 75, up 4. The company has entered into an option agreement to acquire a 100% interest in the Jaguelito gold-silver property in the Valle del Cura region of Argentina’s El Indio gold belt. The junior has identified a large alteration anomaly measuring 2 by 1.5 km and has launched a surface exploration program.

New Blue Ribbon Resources gained 2 and closed at 57 on a volume of 7.6 million shares. The junior is drilling the Pelican Mountains heavy mineral property in northern Alberta.

Cantex Mine Development lost 6 to closed at 59 after trading 47.5 million shares. The junior has tabled assay results for the first two drill core holes at the Suwar nickel-copper-cobalt-silver and platinum group elements prospect. The best results cut 21.7 metres averaging 1.58% nickel, 0.68% copper and 0.076% cobalt, plus 1.4 grams silver per tonne.