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Junior exploration stock pops on gold results

6/19/2012 3:14:07 PM | Sean Mason

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While some speculators gushed over a future oil producer Tuesday

Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, June 19, 2012

TORONTO (SHfn) – Seafield Resources (TSX: V.SFF, Stock Forum) shares jumped 30% to 17.5 cents on volume of more than 1.3 million shares Tuesday after the micro cap explorer reported further results from the ongoing 5,000-metre diamond drill program at its Miraflores Deposit in Colombia, which included 114.7 metres of 1.89 grams per tonne (g/t) gold and 10.6 metres of 11.97 g/t gold.

As well, shares of Bengal Energy (TSX: T.BNG, Stock Forum) moved up 14% to 75 cents as the oil and gas producer/explorer announced that the second well in the 2012 Cuisinier appraisal drilling campaign on the Barta Block portion of ATP 752P in the Cooper-Eromanga Basin, Australia, is to be cased as a future oil producer. Bengal holds a 25% working interest in the Barta Block, ATP 752P.

Levon Resources (TSX: T.LVN, Stock Forum), meanwhile, provided an update on the Cordero NI 43-101 resource in Mexico, which showed an increase in the Indicated resource of 53 million ounces of silver, 37,000 ounces of gold, and 0.8 billion pounds of zinc. Levon Resources stock slipped 8% to 45 cents.

And, Valeura Energy (TSX: T.VLE, Stock Forum) Monday said it has been awarded two new exploration licences on a 100% working interest basis in southeast Turkey by the General Directorate of Petroleum Affairs of the Republic of Turkey. Valeura Energy shares surged 17% to $1.50 on Tuesday.

Top Canadian Small/Micro-cap Advancers (as of 1:30 PM Eastern)
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ABOUT THE AUTHOR

Sean Mason

Sean Mason is a Stockhouse market reporter and editor.

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