TSX Venture gains over holiday-shortened Sept. 6-9 trading week

The S&P/TSX Venture Composite Index rose over the Labour Day-shortened Sept. 6-9 trading session by 2.1% or 13.55 points to end the week at 645.57.

C3 Metals boasted the highest share volume for the week, at 7.3 million shares traded. However, the Toronto-based junior shed 1¢ to end the period at 4¢ per share. On Sept. 9, C3 released drill results from its recently completed second-phase drill program at its Jasperoide copper-gold skarn/porphyry project in Peru. Hole JAS2900-02 cut 81.6 metres of 0.89% copper and 0.25 gram gold per tonne from 21 metres depth, including 21.1 metres of 2.79% copper and 0.59% gold. Drilling also extended the high-grade zone about 100 metres north from hole JA2800-01, which previously cut 48.2 metres of 1.24% and 0.43 gram gold. The 20-hole, 6,811-metre program at Jasperoide has outlined a near-surface, high-grade oxide deposit at the Montana de Cobre zone with a strike length of more than 550 metres and true thickness of 50 to 250 metres. Drilling also tested the nearby Cresta Verde copper-sulphide zone.

Shares in Callinex Mines added 68¢ to finish the week at $2.45, up 38.4% on the Sept. 7 announcement of a new discovery at its Pine Bay project, near Flin Flon, Man. Hole ALC-114 at the high-grade Alchemist VMS discovery returned 4.4 metres grading 1.6% copper, 5.14% zinc, 0.4 gram gold per tonne and 21.78 grams silver (4.02% copper equivalent) from 847.6 metres. Discovery hole ALC-111, designed to test a 600 by 400-metre highly conductive anomaly, cut 2.4 metres of 0.9% copper, 0.22 gram gold, 7.05 grams silver, 1.76% zinc (1.78% copper equivalent) from 713.6 metres. With four drill holes reported from the Alchemist and one pending, the company says the deposit has a minimum strike length of 140 metres.

Callinex says it has also completed enough drilling (41,500 metres) at its high-grade Rainbow deposit, which lies 1.4 km east and was discovered in 2020, to complete an initial resource for the deposit to 800 metres depth.

Propelled by channel sampling results at its Golden Sidewalk project in Red Lake, Ont., Prosper Gold rose 12¢ or 46% to end the week at 38¢. The Vancouver-based junior, which is working to identify drill targets in the Skinner North area of the project, reported channel sample results including 3 metres of 9.69 grams gold per tonne and 1.8 metres of 13.13 gram gold – the highest grades returned to date from the project. Golden Sidewalk comprises 160 sq. km of claims in the western Birch-Uchi greenstone belt, 60 km east of Red Lake. The Skinner target is a 2 by 3-km prospective area with limited outcropping bedrock.