Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, March 1, 2011
TORONTO (SHfn) – Reunion Gold (TSX: V.RGD, Stock Forum) shares jumped 99% to $1.65 on Tuesday after the junior miner reported that a recently completed trenching program has defined continuous thick, manganese mineralization over 2.5 km of strike at its 100%-owned Matthews Ridge project in Guyana. Given the results of the program, Reunion is planning a 24,000m, 220-hole drill program to define a NI 43-101 compliant mineral resource by the end of 2011.
As well, shares of Mad Catz Interactive (TSX: T.MCZ, Stock Forum) as much as shot up 17% to $2.20 as the interactive entertainment accessory provider and Electronic Arts Inc. announced an agreement to produce branded PC and console videogame accessories based on 'The Sims' franchise.
Endeavour Silver (TSX: T.EDR, Stock Forum), meanwhile, released an NI 43-101 resource estimate for its Parral Project in Mexico. The indicated and inferred resources were expanded as a result of Endeavour's exploration drilling program in 2010. Based on current metal prices of $33 per oz silver, $1400 per oz gold, $1.10 per lb lead and $1.10 per lb zinc, the Net Smelter Return (NSR) values rise 88% to approximately US$142 per tonne for indicated resources and US$139 per tonne for inferred resources. Endeavour Silver stock popped 13% to $8.09.
Shares of Rockcliff Resources (TSX: V.RCR, Stock Forum) climbed 18% to 33 cents after the junior explorer reported that an ongoing winter drill program on the Tower Property in Manitoba continues to intersect copper-gold-zinc-silver (VMS) mineralization within the Tower VMS Zone, including 7.6% copper, 2.0 grams per tonne (g/t) gold, 1.7% zinc, and 35.4 g/t silver across 8.2 metres.
Channel Resources (TSX: V.CHU, Stock Forum) shares powered 26% higher to 24 cents after the micro cap explorer announced that it has extended the Mankarga 5 Deposit strike length to 950 metres at its Tanlouka Gold Project in Burkina Faso, West Africa. Intersections included 102 metres of 1.52 g/t gold.
And, Gold Port Resources (TSX: V.GPO, Stock Forum) Tuesday said it has retained P&E Mining Consultants Inc. to complete a National Instrument 43-101 Resource Estimate and Technical Report on the Groete Creek Gold Project in Guyana. Gold Port shares rose 21% to 17 cents.
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