Stockhouse Canadian Small and Micro-cap Stock Report for Friday, January 27, 2012
TORONTO (SHfn) – Commerce Resources (TSX: V.CCE, Stock Forum) shares climbed 20% to 39 cents on volume of more than 3.2 million shares Friday after the micro cap explorer reported results for four drill holes completed during the summer/fall exploration program at the Ashram Rare Earth Element Deposit at the Eldor Project in Quebec, which included 325.31 metres of 1.96% Total Rare Earth Oxides (TREO).
As well, shares of WPC Resources (TSX: V.WPQ, Stock Forum) rose as much as 23% to 16 cents as the junior miner announced the discovery of what the company claims be “a very large porphyry-style copper system” at its 100% owned ZPG Project in Nevada. Drill results included 0.31% copper and 6.2 grams per tonne (g/t) silver over 7.6 metres.
Amerigo Resources (TSX: T.ARG, Stock Forum), meanwhile, reported production results for the fourth quarter of 2011 from Minera Valle Central in Chile, which included 12.09 million pounds of copper and 195,729 pounds of molybdenum during the three months ended December 31, 2011, for a total of 43.7 million pounds of copper and 785,068 pounds of molybdenum for the full year. Amerigo stock popped 9% to 89 cents on more than 1.2 million shares traded.
And, Pennant Energy (TSX: V.PEN, Stock Forum) Friday provided an operations update on its Bigstone Montney high natural gas liquids resource play in Alberta. The Donnybrook Energy Bigstone Hz 15-32-60-22 W5M well (25% working interest to Pennant) encountered 2,744 metres of high-quality Montney reservoir with what the company called “strong gas shows and excellent penetration rates.” Pennant Energy shares added 12% at 23 cents.
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