Vancouver — Fuelled by growing investor interest in resource stocks, trading on the TSX Venture Exchange showed continued strength over the report period Jan. 2-9, with the S&P-TSX Venture Composite Index gaining 75.93 points to close at 2,312.48.
The most active trader yet again was Staccato Gold Resources, which added two pennies to close at 54 over the session. The company recently completed a 914-metre drill program on the Lookout portion of its South Eureka property, with the best hole returning 19.8 metres of 11.8 grams gold per tonne.
Taking second spot was Bravo Venture Group, which gained 24 to 78 in active trading. The company also holds exploration ground in Nevada’s famous gold trends, notably the South Lone Mountain project being explored by senior partner Placer Dome.
Nevada has regained its glitter in recent months, and among the juniors benefiting from that exposure is Nevada Pacific Gold, which gained 30 to settle at $1.20. Adding mining mogul Robert McEwen as a major shareholder and director also helped.
Yukon Zinc edged up 4 to 43 over the period, after making gains in recent weeks as a feasibility study nears completion for the Wolverine zinc-copper-lead-gold-silver project in the Yukon. High zinc prices are giving a boost to the company’s efforts to finance and build a mine at Wolverine.
Typhoon Exploration was up 8 to 36 after announcing plans to carry out 5,000 more metres of drilling to test high-grade gold targets at its Fayolle property near Rouyn-Noranda, Que. A resource estimate compliant with National Instrument 43-101 standards will be released in the coming quarter.
Top value-gainer Arizona Star Resource added $1.48 to settle at $8.10, no doubt because investors hope that Barrick Gold’s takeover of Placer Dome will mean development plans will come off the drawing board for the junior’s 25%-owned Cerro Casale gold-copper project in Chile.
The biggest percentage gainer was John Brock’s Pacific Ridge Exploration, which more than doubled to 17 after reporting that Newmont Mining was proposing to drill the Matrix project in Nunavut, held with partner Kaminak Gold. The program will test three previously identified gold-bearing pyritic conglomerate zones for their potential to host “Witwatersrand-style” gold deposits.
Six drilling rigs are working on three deposits at the Fenix ferro-nickel project in eastern Guatemala, as part of a feasibility study scheduled for completion in mid-2006. The news gave a boost to Skye Resources, which added 75 to close at $3.70.
Western Prospector Group was up 85 to $5.85 as investor uncertainty subsides about the investment climate of Mongolia, where the company is active. Elected officials have taken steps to calm fears that the government wants a major slice of deposits held by foreign companies.
Mexican explorer Palmarejo Gold continued its tear, adding 56 to close at $6 over the trading session, due to continued exploration success at its namesake gold-silver project in the Temoris district of northern Chihuahua state.
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