While a uranium property rights acquisition powered a small explorer Thursday
Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, January 20, 2011
TORONTO (SHfn) – Matamec Explorations (TSX: V.MAT, Stock Forum) shares powered 15% higher to 61 cents on Thursday after the micro cap miner said it has received an updated NI 43-101 resource calculation for the Kipawa deposit located on its Zeus property in Quebec, which showed a 42% increase in the total rare earths oxides indicated resource.
As well, shares of Athabasca Uranium (TSX: V.UAX, Stock Forum) added 12% at 29 cents as the junior explorer reported that it has entered into a Right of First Offer agreement with an arm's-length vendor, whereby the company will have the sole and exclusive right to acquire three prospective mineral properties in the Athabasca Basin region of Saskatchewan, which covers 11,344 hectares.
KWG Resources (TSX: V.KWG, Stock Forum), meanwhile, announced that its core-drilling campaign on the Big Daddy chromite deposit in northern Ontario is underway. The planned program is to drill 12 holes that will test the continuity of the chromite deposit at depths of 450 and 600 metres, with intercepts spaced 150 metres apart horizontally. KWG stock popped 17% to 13.5 cents.
And, Labopharm (TSX: T.DDS, Stock Forum) Thursday reported that Health Canada's Therapeutic Products Directorate has approved OLEPTRO (trazodone hydrochloride Extended Release Tablets), a once-daily formulation of the antidepressant trazodone, for the symptomatic relief of Major Depressive Disorder in adults. Labopharm shares rose 10% to 98 cents.
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