Junior miner surges on gold assays

Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, January 29, 2008

TORONTO (SHfn) - A small gold play glistered Thursday, while a medical device stock jumped on Japanese approval.

Great Basin Gold (TSX: T.GBG, Stock Forum) shares powered 15% higher to $1.57 on Thursday after the miner reported further exploration drilling results at its Hollister gold property on the Carlin Trend in Nevada, which included 23 holes that had intersections of greater than 0.1 ounces per ton (opt) gold over widths of 0.5-12.6 feet.

As well, shares of Angiotech Pharmaceuticals (TSX: T.ANP, Stock Forum) shot up 24% to 52 cents as the specialty pharmaceutical and medical device maker announced that its corporate partner, Boston Scientific, has received approval from the Japanese Ministry of Health, Labor and Welfare to market its TAXUS(R) Liberté(R) paclitaxel-eluting coronary stent system.

The Medipattern Corporation (TSX: V.MKI, Stock Forum), meanwhile, and GE Healthcare's Vascular Ultrasound group reported their plan to collaborate in the creation of Ultrasound-based Vascular Imaging Quantification Tools (Vascular iQ(TM)). Medipattern stock popped 34% to 47 cents.

Shares of SEMAFO (TSX: T.SMF, Stock Forum) added 9% at $1.76 after the miner said its 2009 annual production plan is established at between 220,000 and 240,000 ounces of gold, an increase of approximately 18% over 2008.

And, Dorato Resources (TSX: V.DRI, Stock Forum) Thursday announced the completion of Minera Afrodita's 2008 exploration program in the Cordillera del Condor in Peru. The 2008 Tambo Block program has defined a significant, large, gold-bearing system hosted within the same regional structural regime and host rocks as the Fruta del Norte gold deposit. Dorato has an option to acquire 100% of Minera Afrodita. Its shares climbed 56% to 50 cents.