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Junior exploration stock pops on gold drill results

9/24/2012 5:08:34 PM | Sean Mason

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This as an acquisition boosted shares of an overseas oil and gas player Monday

Stockhouse Canadian Small and Micro-cap Stock Report for Monday, September 24, 2012

TORONTO (SHfn) – Northquest (TSX: V.NQ, Stock Forum) shares climbed as much as 21% to 97 cents on Monday after the micro cap explorer reported additional drilling results from the Pistol Bay Gold Project in Nunavut, which included 163.22 metres grading 5.61 grams per tonne (g/t) gold.

As well, shares of Emperor Oil (TSX: V.EM, Stock Forum) shot up as much as 17% to 62 cents as the oil and gas company with projects in Sudan and Turkey said it has entered into a Memorandum of Understanding with State Petroleum Overseas Inc., to acquire 85% of their 50% working interest in a late stage oil development project located in Block 7 in Sudan to develop the three discovered oil fields.

Duluth Metals (TSX: T.DM, Stock Forum), meanwhile, announced that drilling has begun on the first target at the mouth of the Nickel Lake Macrodike, located in the Duluth Complex in Minnesota. Duluth Metals stock popped 5% to $2.25.

And, Golden Tag Resources (TSX: V.GOG, Stock Forum) Monday reported results from three recent drill holes in an ongoing surface drill program on the San Diego Property in Mexico, which included 148 g/t silver equivalent over 241 metres. Golden Tag shares rose 28% to 25.5 cents.

Top Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Copper North Mining Corp. (V.COL, Stock Forum)	38.46%
Adroit Resources Inc. (V.ADT, Stock Forum)	37.50%
Alexandria Minerals Corporation (V.AZX, Stock Forum)	30.00%
Golden Valley Mines Ltd. (V.GZZ, Stock Forum)	28.00%
SLAM Exploration Ltd. (V.SXL, Stock Forum)	25.00%
Top Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
Titan Trading Analytics Inc. (V.TTA, Stock Forum)	-50.00%
Anglo Swiss Resources Inc. (V.ASW, Stock Forum)	-40.00%
Serengeti Resources Inc. (V.SIR, Stock Forum)	-34.21%
Botaneco Corp. (V.BOT, Stock Forum)	-30.00%
Medicure Inc. (V.MPH, Stock Forum)	-25.00%

ABOUT THE AUTHOR

Sean Mason

Sean Mason is a Stockhouse market reporter and editor.

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