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Gold junior surges on grab sample results

9/18/2012 5:10:06 PM | Sean Mason

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This as a tantalum mine sale powered a micro cap explorer Tuesday

Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, September 18, 2012

TORONTO (SHfn) – Goldstrike Resources (TSX: V.GSR, Stock Forum) shares jumped 20% to 65 cents on volume of more than 1.8 million shares Tuesday after the micro cap explorer reported that it has traced gold mineralization on its Plateau South property in Yukon over a distance of 13 kilometres in a zone that remains open to the northwest. The company added that gold in new rock grab samples ranging from detection limit up to 280 grams per tonne (g/t) is believed to be associated with mapped regional scale folding and deformation.

As well, shares of Pacific Wildcat Resources (TSX: V.PAW, Stock Forum) moved up 30% to 13 cents as the junior explorer said it has agreed to sell its Muiane tantalum mine in Mozambique to Muscadine Limited for a total consideration of US$3 million in cash as well as 8,872,727 PAW shares currently owned by Muscadine.

Dynacor Gold Mines (TSX: T.DNG, Stock Forum), meanwhile, announced that it recorded during the month of August a best ever 5,709 ounces of gold and 16,705 ounces of silver production from its ore-processing plant in Peru, generating sales of US$9.96 million compared with US$6.4 million during the same period of 2011. Dynacor Gold stock popped 8% to 85 cents.

And, Gold Standard Ventures (TSX: V.GSV, Stock Forum) Tuesday reported results from four more core holes drilled into the North Bullion Fault Zone at its Railroad Project in Nevada, which included a 124.1 metre interval of continuous gold mineralization averaging 4.05 g/t. Gold Standard Ventures shares rose as much as 16% before closing up 5% to $2.17.

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Teslin River Resources Corp. (V.TLR, Stock Forum)	100.00%
Seair Inc. (V.SDS, Stock Forum)	66.67%
Infinito Gold Ltd. (V.IG, Stock Forum)	66.67%
Black Panther Mining Corp. (V.BPC, Stock Forum)	66.67%
Claim Post Resources Inc. (V.CPS, Stock Forum)	42.86%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
SG Spirit Gold Inc. (V.SG, Stock Forum)	-33.33%
Savary Gold Corp. (V.SCA, Stock Forum)	-33.33%
Alix Resources Corp. (V.AIX, Stock Forum)	-33.33%
PyroGenesis Canada Inc. (V.PYR, Stock Forum)	-32.69%
Netco Silver Inc. (V.NEI, Stock Forum)	-27.78%

ABOUT THE AUTHOR

Sean Mason

Sean Mason is a Stockhouse market reporter and editor.

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