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Junior explorer surges on gold drill results

Sean Mason Sean Mason, Freelance
0 Comments| February 23, 2012

Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, February 23, 2012

TORONTO (SHfn) – Golden Predator (TSX: T.GPD, Stock Forum) shares jumped 15% to 79 cents on volume of more than 3.1 million shares Thursday after the gold junior reported results from the final 47 RC holes from its 2011 drill program at its Grew Creek Project in the Yukon, which included 68 metres of 5.96 grams per tonne (g/t) gold.

As well, shares of Argosy Energy (TSX: T.GSY, Stock Forum) gained 18% to $1.94 as the oil and gas producer/explorer provided an operational update with respect to its operations to date in the Exshaw/Bakken/Big Valley play in Alberta. The last 24 hours saw an oil rate of 585 barrels per day of 36 degree API oil at its Bakken prospect. In addition to the oil rate, 390 barrels of completion load fluid was also recovered during that time period.

Tembo Gold (TSX: V.TEM, Stock Forum), meanwhile, saw its share price surge 13% to $1.63 on its second day of trading on the Toronto Venture Exchange. The Tembo Gold property is located adjacent and along strike to African Barrick’s 20 million ounce Bulyanhulu Gold Mine in Tanzania. Tembo Gold has approximately 54 million shares fully diluted.

And, Thundermin Resources (TSX: T.THR, Stock Forum) and 50% joint venture partner Cornerstone Resources (TSX: V.CGP, Stock Forum) Thursday announced that they have intersected 2.8% copper over a core length of 18.2 metres at its past-producing Whalesback Copper Mine in Newfoundland. Thundermin shares rose 17% to 10.5 cents, while shares of Cornerstone also added 28% at 11.5 cents.      

Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern)
Top Canadian Small/Micro-cap Decliners

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