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Junior miner powers higher on silver/copper results

6/20/2012 6:33:29 PM | Sean Mason

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This as a pending copper resource estimate generated much speculation Wednesday

Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, June 20, 2012

TORONTO (SHfn) – NGEx Resources (TSX: T.NGQ, Stock Forum) shares surged 17% to $2.15 on Wednesday after the miner announced initial results from four of seven diamond drill holes completed during the 2012 exploration program at the Filo del Sol project in Argentina, which included 1.45% copper over 97.6 metres and 393.7 grams per tonne (g/t) silver over 36 metres.

As well, shares of Nighthawk Gold (TSX: V.NHK, Stock Forum) shot up as much as 18% to 26 cents as the micro cap explorer reported drill results of the initial eight holes from its winter program at its 100% owned Colomac property in the Northwest Territories, which included 71.85 metres of 2.04 g/t gold.

Nevada Copper (TSX: T.NCU, Stock Forum), meanwhile, said it plans to update the overall mineral resource estimate for its Pumpkin Hollow Copper Project in Nevada, the results of which it expects to announce in July 2012. The company added that it has decided to advance the project engineering work by completing two separate feasibility studies, one of which considers a staged development process. Nevada Copper stock popped 13% to $2.31.

And, Diamcor Mining (TSX: V.DMI, Stock Forum) Wednesday announced that the vast majority of the construction and installation of site infrastructure at the Krone-Endora at Venetia diamond project in South Africa is now completed, and the company has begun the commissioning of a new 200 ton per hour modular processing plant installed at the project. Diamcor shares jumped 11% to $1.17.

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Sean Mason

Sean Mason is a Stockhouse market reporter and editor.

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