TSX Venture moves higher, Dec. 6-10

The S&P/TSX Venture Composite Index rose 1.32% or 11.86 points to 908.99. Spot gold gained US30¢ to finish the trading week at US$1,782.90 per ounce.

Shares of Sigma Lithium climbed $1.33 to $12.93. The company announced it plans to raise $60 million in a non-brokered private placement of common shares at $11.75 per share. The company also reported that it has started construction to build the foundation and infrastructure installation of its greentech dense media separation production plant at its 100%-owned Grota do Cirilo project in Brazil. It also announced that it has begun ordering 38 critical long lead items for the project. Phase 1 of the production plant has been designed to produce up to 220,000 tonnes per year of high purity 6% battery grade lithium concentrate, equivalent to approximately 33,000 tonnes per year of lithium carbonate equivalent (LCE). The company is working on a preliminary feasibility study for a second production phase that envisions another processing line with a further 220,000 tonnes per year, which would double capacity to 440,000 tonnes per year (66,000 tonnes per year of LCE). The study is expected to be completed in the first quarter of 2022.Grota do Cirilo is one of the largest hard rock lithium spodumene deposits in the Americas.

North Peak Resources rose 32¢ to $1.80 per share. The company signed an agreement with Minex LLC to acquire the 2,733-acre Black Horse gold and silver property, about 81 km east of Ely within the Black Horse mining district of Nevada’s White Pine County. Minex acquired the lode claims beginning in 1998 and drilled about 300 holes between 1998 and 1999 that North Peak Resources says identified a mineralization zone that appears to have a strike length of three kilometres. In 2016 Minex reported a historic inferred resource of of 350,000 troy ounces of gold at a grade of 1.2 grams gold per tonne. Gold was originally produced from the property around 1906.

Shares of Vision Lithium gained 3¢ to 23¢. The junior acquired 215 contiguous mining claims in Quebec from four different vendors, and staked an additional 105 claims, for a project it is calling the Cadillac lithium project. The 18,378 hectare project is about 10 km south of the historic mining town of Cadillac and about halfway between Rouyn-Noranda and Val-d’Or. The property hosts at least four pegmatite dikes, which are spaced about 100 metres apart and traced for at least 300 metres along strike. Vision Lithium says lithium crystals have been seen in all four dikes. In 2016, two grab samples taken from the property returned 2.67% and 7.34% lithium oxide. “Spodumene has been observed in the outcropping dikes and we believe there are likely more dikes in the cluster,” Yves Rougerie, the company’s president and CEO, stated in a news release.